A model assessing cost of operating marine systems using data obtained from Monte Carlo analysis

This article presents a methodology for analysing the cost of operating marine systems under varying conditions. Data obtained from a previously developed Monte Carlo analysis are applied to assess the operational costs for various maintenance and inspection policies. The concept of total insured value is also applied to determine the cost attributed to risk. The aim is to show that Monte Carlo analysis can be adapted to provide information on various factors affecting operational costs to be used for decision-making to optimise the efficiency of marine systems. A method of modelling the effects of lead times due to un-stocked items has also been included to increase the scope of the analysis

The Drewry tanker market review 1982

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Tanker operating cost trends 1970-81

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Unconventional trading opportunities for tankers

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The rise of dry cargo shipping in the Far East

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The outlook for world shipbuilding

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The reefer market Developments in perishable cargo shipping and trades

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Tanker operating cost trends 1970-81

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North sea developments

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The market for LPG carriers in the 1980s

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