Valuation of marine areas for merchant shipping: an attempt at shipping spatial rent valuation based on Polish Marine Areas.

As part of the progressive process of extending spatial plans to cover an increasing number of marine areas, with the aim of objectively balancing the interests of various users of the marine area, it has become necessary to establish the value of marine areas as a yardstick or determinant of the user group for which a given marine area is of greater value. This study seeks to fill a research gap by attempting to develop a method to calculate the value of marine areas for the commercial shipping industry. This is done to make it possible in the future to prepare the ground for policy regulating the spatial rent of the sea, whose most important users are shipowners and their ships. We use the homogeneous basin of the Polish Marine Areas (PMA) in the Baltic Sea. Based on a literature review, we conclude that such a method does not exist, posing a significant challenge in the process of marine/maritime spatial planning (MSP) and maritime policy formulation. Conducting an in-depth analysis of 2020 data on ship traffic in the basin noted above, combined with a financial analysis of shipowners' operating costs and profitability indicators, we can determine the value of marine areas both in aggregate for all shipping in the studied basin and for each of the five segments of shipping -- the bulk cargo, ro-ro cargo, container, tanker, and passenger segments. In addition, through a dynamic analysis of ship traffic, it is possible to determine the value of sea area in Polish seawaters per unit of area (1 km²) at the average level and for the five specified market segments. The obtained values show that the total profits of shipowners in the Polish Marine Areas, which are at the level of more than EUR 103 million per year, and the average value of profits per 1 km² of marine area used by a ship provide future decision-makers with an objective point of reference to shape future policies for the fiscalization of public space, including the sea. [ABSTRACT FROM AUTHOR]