Synergies between government, ports, shipping companies, and power companies

The IMO has taken proactive steps to promote carbon emission reductions in the maritime industry as the severity of global warming increases. As a result, several nations and regions have made developing shore electrical technology a top priority. Through the establishment of a four-party evolutionary game model comprising the government, ports, shipping corporations, and power companies, this article seeks to explore the promotion of shore electricity for sustainable port development. The model’s goal is to investigate how each stakeholder makes decisions and interacts with one another in the process of promoting shore energy. We find multiple stable equilibrium points and their corresponding criteria by doing a stability analysis. We also conduct a sensitivity analysis to evaluate the effects on each participant of the magnitude of government incentives and related expenses. This investigation leads us to three important conclusions: First, all stakeholders’ decision-making processes are greatly influenced by government policies. Second, economic factors limit the adoption of shore electricity technology and have a direct impact on the strategic decisions made by all parties. Finally, incentives and cooperation among the stakeholders are shown to be successful strategies for attaining low-carbon growth in the shipping industry. Ports and shipping businesses are more willing to use shore electrical technology when government support is available, and power corporations are more willing to make investments.