The Future of Tanker Shipping: Sustainable Business Model for a Changing Market Adapting to evolving energy demands and regulatory challenges by 2050

Abstract

This thesis explores the various challenges in the product tanker shipping segment as a result of the ongoing energy transition, with a time horizon extending to 2050. The study was conducted at Chalmers University of Technology as part of the bachelor’s programme in International Logistics. It is primarily based on a qualitative approach, using both primary and secondary sources - including interviews with industry stakeholders and analyses of future energy market scenarios. The main purpose has been to investigate how shipowners can adapt their business models to a future market shaped by the energy transition. Key findings reveal that the energy transition leads to a more diverse product mix, which increases the complexity of cargo handling. This, in turn, impacts both the operational flexibility and technical capabilities required from shipowners. Using Osterwalder and Pignuer’s business model definition as the analytical framework, three components were identified as central and strongly interconnected: value proposition, key resources, and cost structure. The study is limited to the product tanker segment and excludes crude oil, chemical and liquified energy gas. The geographical scope is focused on the European area, with interview participants mostly operating in Scandinavia. While this thesis identifies several main changes linked to the energy transition, it should be seen as an initial step for further and more comprehensive research.