Effectiveness Assessment of Non-Specialized Vessel Acquisition and Operation Projects, Considering Their Suitability for Oversized Cargo Transportation

Keywords: Oversized cargoes, Tramp transportation, Vessel acquisition project, Optimal ship speed, Profitability index, Net present value

Abstract

At present, shipowners have to take active measures to improve the efficiency of their fleet to remain competitive on the freight market. In this respect, the development of a shipping company’s fleet is immensely important due to the ability of such vessels to operate with maximum efficiency and flexibility when the structure of cargo flow is heterogeneous. At the same time, fuel expenses account for a considerable part of shipping company expenses. Fuel consumption greatly depends on ship speed. Therefore, the efficiency of maritime shipping can be greatly increased by choosing optimal speed. The purpose of this research is to develop a methodology for justifying the selection of shipping company fleet expansion projects based on cargo flow structure characteristics, considering the possibility of slow steaming ship operation. Net Present Value and Profitability Index were taken into account to compare the efficiency of acquisition and operation projects pertaining to ships with significantly different deadweight and market values.

Author Biography

Mykola Malaksiano, Odessa National Maritime University

Ph. D. in Physical and Mathematical Sciences

Head of Department of technical cybernetics and information technology R.V. Merkta

Odessa National Maritime University

Published
2020-04-20
How to Cite
Melnyk, O. and Malaksiano, M. (2020) “Effectiveness Assessment of Non-Specialized Vessel Acquisition and Operation Projects, Considering Their Suitability for Oversized Cargo Transportation”, Transactions on Maritime Science, 9(1), pp. 23 - 34. doi: 10.7225/toms.v09.n01.002.
Section
Regular Paper
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