Strategic Development of Point-to-Point Green Shipping Corridors: A Case Study Using the Interpretive Structural Modelling and Micmac Framework

Abstract

Point-to-point green shipping corridors are specific maritime routes where the feasibility of zero-emission shipping is catalyzed through coordinated public and private actions. These corridors focus on deploying zero-emission vessels on direct transit routes, fostering sustainable fuel supply chains, and implementing harmonized regulatory frameworks that support decarbonization efforts between two designated ports within the maritime value chain. Currently, they are in the initiation stage, where stakeholders strive to establish a shared vision to enhance their conceptual clarity and align their strategic objectives within the maritime value chain. The aim of this paper is to deepen the understanding of the strategic development of point-to-point green shipping corridors by creating a systemic interrelated relationship between seven identified key constituent factors. The ISM methodology is utilized to construct the hierarchical interrelationships among the factors whereas the MICMAC methodology systematically classifies them based on their respective driving and dependent powers. The findings indicate that High Initial Investment Costs and the Availability of Alternative Fuel Networks are primary factors and drivers, impacting other factors within the hierarchial system.