- PII
- S042473880000540-3-1
- DOI
- 10.7868/S0000540-3-1
- Publication type
- Article
- Status
- Published
- Authors
- Volume/ Edition
- Volume 53 / Issue 3
- Pages
- 59-77
- Abstract
We propose a model for choosing the most efficient speed of oceangoing freight ships carrying linear commercial voyages. The model takes into account the influence of age and speed of ship for different types of shipping costs. It is based on two principles: 1) the value of property does not exceed the sum of discounted benefits of its use for a small period of time and the value of the same property in the end of the period, and coincides with that sum at the most efficient use of the property. Therefore, the most efficient speed is such a speed at which the market value of ship is maximized; 2) if on the valuation date and in a period prior to the dependence on value of the objects of their characteristics (e.g. age) has been established it would be valid in a small period after valuation date. The paper also includes an analysis of other criteria to optimize the ship’s speed which are offered in the literature.
- Keywords
- cargo ship, linear voyage, speed, age, voyage costs, operating costs, valuation, market value, depreciation, optimization criteria
- Date of publication
- 01.07.2017
- Year of publication
- 2017
- Number of purchasers
- 4
- Views
- 1027
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