Publicação
Rocking the boat : alt-fuels and the super yacht industry
| Resumo: | The superyacht industry, traditionally associated with luxury and exclusivity, is under pressure. With rising public scrutiny, changing climate regulations, and demands from different stakeholders, it is essential to promote the adoption of alternative fuels. This study used a literature review, twelve semi-structured expert interviews, and a survey with 179 respondents to investigate drivers of alternative fuels for the superyacht industry. The findings indicated that regulatory frameworks were the leading driver of the transition to alternative fuels, outweighing incentives from yacht owners or market forces. Although younger, more environmentally conscious owners expressed interest in lower-emission propulsion systems, they remain reluctant to invest substantially in new technologies without regulatory mandates and sufficient infrastructure. Furthermore, contrary to the findings of the literature, the Veblen effect does not apply to superyachts. Among the alternative fuels, methanol, and hydrotreated vegetable oil appeared to be practical transitional options, while hydrogen and other advanced solutions are hampered by high costs and infrastructural challenges. Growing pressure from stakeholders, including increased scrutiny from environmental groups and the adoption of transparent lifecycle assessment tools, highlights the need for credible sustainability measures to avoid accusations of greenwashing. In conclusion, the superyacht sector is at a turning point. Decisive policy intervention, stakeholder collaboration, and a strategic focus on established alternative fuels provide a clear pathway to integrating environmental responsibility with luxury maritime experiences. |
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| Autores principais: | Hirtenlehner, Jerome Joseph |
| Assunto: | Superyachts Drivers for alternative fuel adoption Environmental impact Economic impact Alternative marine fuels Lifecycle assessment Hydrogen Hydrotreated vegetable oil Biodiesel Methanol Dynamic capabilities Sustainable supply chain management Willingness-to-pay Superiates Direcionadores da adoção de combustíveis alternativos Impacto ambiental Impacto econômico Combustíveis alternativos Combustíveis marítimos Avaliação de ciclo de vida Hidrogênio Óleo vegetal hidrotratado Metanol Capacidades dinâmicas Gestão sustentável da cadeia de suprimentos Disposição a pagar |
| Ano: | 2025 |
| País: | Portugal |
| Tipo de documento: | dissertação de mestrado |
| Tipo de acesso: | acesso aberto |
| Instituição associada: | Universidade Católica Portuguesa |
| Idioma: | inglês |
| Origem: | Veritati - Repositório Institucional da Universidade Católica Portuguesa |
| Resumo: | The superyacht industry, traditionally associated with luxury and exclusivity, is under pressure. With rising public scrutiny, changing climate regulations, and demands from different stakeholders, it is essential to promote the adoption of alternative fuels. This study used a literature review, twelve semi-structured expert interviews, and a survey with 179 respondents to investigate drivers of alternative fuels for the superyacht industry. The findings indicated that regulatory frameworks were the leading driver of the transition to alternative fuels, outweighing incentives from yacht owners or market forces. Although younger, more environmentally conscious owners expressed interest in lower-emission propulsion systems, they remain reluctant to invest substantially in new technologies without regulatory mandates and sufficient infrastructure. Furthermore, contrary to the findings of the literature, the Veblen effect does not apply to superyachts. Among the alternative fuels, methanol, and hydrotreated vegetable oil appeared to be practical transitional options, while hydrogen and other advanced solutions are hampered by high costs and infrastructural challenges. Growing pressure from stakeholders, including increased scrutiny from environmental groups and the adoption of transparent lifecycle assessment tools, highlights the need for credible sustainability measures to avoid accusations of greenwashing. In conclusion, the superyacht sector is at a turning point. Decisive policy intervention, stakeholder collaboration, and a strategic focus on established alternative fuels provide a clear pathway to integrating environmental responsibility with luxury maritime experiences. |
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