Technical feasibility and Economic cost-effectiveness assessment

The technical feasibility aspect focuses on mainly design, operation and technical aspects as well as ship board details such engineering changes needed, space availability, etc. The extent of technical feasibility study depends on the type of the measure. The preliminary feasibility can be assessed as part of the energy audit during ship survey; however, for major investment EEMs, the ship owner would normally carry out further technical feasibility studies before implementation.

Perhaps the most important factor when considering energy management is the cost of fuel that can either make or break a GHG strategy particularly when it involves buying expensive equipment to reduce fuel costs. Some approaches to reduce GHGs emissions are only financially viable when oil prices reach a specific level and are expected to stay above that level long enough to provide an adequate financial return on the investment in the particular energy efficiency improvement method (MariEMS 2017).