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Green finance in bulk shipping

(2025) MARITIME POLICY & MANAGEMENT. 52(3). p.335-360
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Abstract
The worldwide growing concern about climate change is leading industries to adopt measures to reduce negative externalities. New financial instruments have been developed under the umbrella of green finance aimed at meeting the financial requirements linked to significant investments for green strategies. Bulk shipping companies are increasingly aware of the environmental impacts caused by their operations. Nevertheless, the nature and intensity of funding solutions aiming at supporting green investments from bulk shipping companies are still scarcely investigated by academics. The first objective of this paper is to examine theoretical aspects associated with the green transition in the bulk shipping industry. The second objective is to empirically investigate the current state in green finance by analysing the most adopted green financial products by major international bulk companies, taking into account the most suitable solution for each green investment strategy and option available in the market. A multiple case study methodological approach is used to shed light on the current role of green finance in the bulk shipping industry. The research outcomes provide detailed insights to academics and practitioners about the range of green investment and financial solutions in the bulk industry, in terms of preferred financing methods, magnitude of financial resources gathered and other relevant profiles.
Keywords
Bulk shipping, green finance, sustainability, green strategies, stakeholder relationship management, ENERGY EFFICIENCY, ENVIRONMENT, EMISSIONS, SEA

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MLA
Morchio, Giorgia, et al. “Green Finance in Bulk Shipping.” MARITIME POLICY & MANAGEMENT, vol. 52, no. 3, 2025, pp. 335–60, doi:10.1080/03088839.2024.2321854.
APA
Morchio, G., Notteboom, T., Satta, G., & Vottero, B. (2025). Green finance in bulk shipping. MARITIME POLICY & MANAGEMENT, 52(3), 335–360. https://doi.org/10.1080/03088839.2024.2321854
Chicago author-date
Morchio, Giorgia, Theo Notteboom, Giovanni Satta, and Bianca Vottero. 2025. “Green Finance in Bulk Shipping.” MARITIME POLICY & MANAGEMENT 52 (3): 335–60. https://doi.org/10.1080/03088839.2024.2321854.
Chicago author-date (all authors)
Morchio, Giorgia, Theo Notteboom, Giovanni Satta, and Bianca Vottero. 2025. “Green Finance in Bulk Shipping.” MARITIME POLICY & MANAGEMENT 52 (3): 335–360. doi:10.1080/03088839.2024.2321854.
Vancouver
1.
Morchio G, Notteboom T, Satta G, Vottero B. Green finance in bulk shipping. MARITIME POLICY & MANAGEMENT. 2025;52(3):335–60.
IEEE
[1]
G. Morchio, T. Notteboom, G. Satta, and B. Vottero, “Green finance in bulk shipping,” MARITIME POLICY & MANAGEMENT, vol. 52, no. 3, pp. 335–360, 2025.
@article{01HRYD10WVGB9K06SSMQMT31VX,
  abstract     = {{The worldwide growing concern about climate change is leading industries to adopt measures to reduce negative externalities. New financial instruments have been developed under the umbrella of green finance aimed at meeting the financial requirements linked to significant investments for green strategies. Bulk shipping companies are increasingly aware of the environmental impacts caused by their operations. Nevertheless, the nature and intensity of funding solutions aiming at supporting green investments from bulk shipping companies are still scarcely investigated by academics. The first objective of this paper is to examine theoretical aspects associated with the green transition in the bulk shipping industry. The second objective is to empirically investigate the current state in green finance by analysing the most adopted green financial products by major international bulk companies, taking into account the most suitable solution for each green investment strategy and option available in the market. A multiple case study methodological approach is used to shed light on the current role of green finance in the bulk shipping industry. The research outcomes provide detailed insights to academics and practitioners about the range of green investment and financial solutions in the bulk industry, in terms of preferred financing methods, magnitude of financial resources gathered and other relevant profiles.}},
  author       = {{Morchio, Giorgia and Notteboom, Theo and Satta, Giovanni and Vottero, Bianca}},
  issn         = {{0308-8839}},
  journal      = {{MARITIME POLICY & MANAGEMENT}},
  keywords     = {{Bulk shipping,green finance,sustainability,green strategies,stakeholder relationship management,ENERGY EFFICIENCY,ENVIRONMENT,EMISSIONS,SEA}},
  language     = {{eng}},
  number       = {{3}},
  pages        = {{335--360}},
  title        = {{Green finance in bulk shipping}},
  url          = {{http://doi.org/10.1080/03088839.2024.2321854}},
  volume       = {{52}},
  year         = {{2025}},
}

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