Natural gas as a sustainable transport fuel

Environmental concerns relating to gaseous emissions from transport have led to growth in the use of compressed natural gas vehicles worldwide with an estimated 13 million Natural Gas Vehicles (NGVs) currently in operation. Across Europe, many countries are replacing traditional diesel oil in captive fleets such as buses used for public transport and heavy and light goods vehicles used for freight and logistics with CNG vehicles. Initially this was to reduce localised air pollution in urban environments. However, with the need to reduce greenhouse gas emissions CNG is seen as a cleaner more energy efficient and environmental friendly alternative. This paper briefly examines the growth of NGVs in Europe and worldwide. Then a case study on CNG the introduction in Spain and Italy is presented. As part of the case study, policy interventions are examined. Finally, a statistical analysis of private and public refuelling stations in both countries is also provided. CNG can also be mixed with biogas. This study and the role of CNG is relevant because of the existing European Union Directive 2009/28/EC target, requiring that 10% of transport energy come from renewable sources, not alone biofuels such as biogas. CNG offers another alternative transport fuel.

Regret minimisation and utility maximisation in a freight transport context

This study is the first to compare random regret minimisation (RRM) and random utility maximisation (RUM) in freight transport application. This paper aims to compare RRM and RUM in a freight transport scenario involving negative shock in the reference alternative. Based on data from two stated choice experiments conducted among Swiss logistics managers, this study contributes to related literature by exploring for the first time the use of mixed logit models in the most recent version of the RRM approach. We further investigate two paradigm choices by computing elasticities and forecasting choice probability. We find that regret is important in describing the managers’ choices. Regret increases in the shock scenario, supporting the idea that a shift in reference point can cause a shift towards regret minimisation. Differences in elasticities and forecast probability are identified and discussed appropriately.

The p-hub Model with Hub-catchment Areas, Existing Hubs, and Simulation: A Case Study of Serbian Intermodal Terminals

This paper addresses the problem of optimally locating intermodal freight terminals in Serbia. To solve this problem and determine the effects of the resulting scenarios, two modeling approaches were combined. The first approach is based on multiple-assignment hub-network design, and the second is based on simulation. The multiple-assignment p-hub network location model was used to determine the optimal location of intermodal terminals. Simulation was used as a tool to estimate intermodal transport flow volumes, due to the unreliability and unavailability of specific statistical data, and as a method for quantitatively analyzing the economic, time, and environmental effects of different scenarios of intermodal terminal development. The results presented here represent a summary, with some extension, of the research realized in the IMOD-X project (Intermodal Solutions for Competitive Transport in Serbia).

The Baltic Dry Index: cyclicalities, forecasting and hedging strategies

The cyclical properties of the Baltic Dry Index (BDI) and their implications for forecasting performance are investigated. We find that changes in the BDI can lead to permanent shocks to trade of major exporting economies. In our forecasting exercise, we show that commodities and trigonometric regression can lead to improved predictions and then use our forecasting results to perform an investment exercise and to show how they can be used for improved risk management in the freight sector.