%0 Journal Article
%A Koričan, Marija
%A Sjeric, Momir
%A Nikolic, Danilo
%A Fan, Ailong
%A Vladimir, Nikola
%T Towards Green Ferry Corridors in the Adriatic Sea – Integrating Monte Carlo Simulations into Life Cycle Costing Scheme for Methanol
%J TransNav, the International Journal on Marine Navigation and Safety of Sea Transportation
%V 19
%N 4
%P 1295-1304
%D 2025
%U ./Article_Towards_Green_Ferry_Corridors_in_Koričan,76,1618.html
%X The maritime transport sector is essential to global trade, handling a large share of international trade volume, but its reliance on fossil fuels raises significant environmental and economic concerns. The transition to greener options is slow, with 98.8% of the fleet still using fossil fuel, while the research into economic performance of this transition often overlooks fuel price volatility, a critical factor influenced by global events which have caused significant fuel price fluctuations. This paper introduces a model which incorporates fuel price volatility into lifecycle cost assessments (LCCA) on an example of a ferry connecting the Croatian and Italian shores of the Adriatic Sea. A comparison of diesel- and methanol-powered systems is provided, using Monte Carlo simulations to evaluate economic sustainability under volatile fuel prices. Diesel prices showed a consistently symmetrical and normal distribution across all simulations, indicating a stable price range, while methanol prices demonstrated more volatility. The LCCA results, which included the simulated fuel prices, showed that methanol-powered systems despite greater price volatility, show lower overall costs through different carbon taxation scenarios.
%@ 2083-6473
%R 10.12716/1001.19.04.28