Examining the Impact of Fuel Insufficiency on Transportation Cost in Tanzania's Maritime Performance Over the Next 50 Years
Abstract
This study investigates the relationship between future fuel insufficiency and shipping costs in Tanzania. Due to Tanzania's vital importance in East Africa trade, disruptions in the future fuel supply could have a substantial negative economic impact. Using a quantitative technique, the study gathered information from various maritime industry participants, such as shipping companies, port authorities, ship owners and charterer companies. Data analysis showed a strong relationship between shipping prices and fuel availability, with several stakeholders reporting higher operating expenses due to fuel shortages. The results underscore the importance of fuel in marine logistics and the necessity for Tanzania to improve its fuel management techniques and diversify its energy sources. Tanzania can lessen the negative effects of future fuel insufficiency variations due to fossil fuels depleting in the world faster than they were created on the earth. This future impact mitigation will promote and maintain sustainable economic growth by implementing alternative energy and enhancing regional collaboration on energy security. This research add knowledge about finding alternative energy for compensation for future fuel scarcity in maritime transportation and offers tactical solutions to these problems.
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Authors
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