The Experts below are selected from a list of 19146 Experts worldwide ranked by ideXlab platform
Christiaan Heij - One of the best experts on this subject based on the ideXlab platform.
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Evaluation of total risk exposure and insurance premiums in the Maritime Industry
Transportation Research Part D: Transport and Environment, 2017Co-Authors: Sabine Knapp, Christiaan HeijAbstract:Abstract The empirical evaluation of Maritime risk exposure is based on the monetary value at risk (MVR) that incorporates individual safety quality data of about 130,000 vessels, insurable values related to various potential damages, and proxies for fractions of values lost at incidents. MVR provides a tool to enhance strategic planning of Maritime administrations and insurance providers, which is illustrated by a high level comparison of annual risk exposure with insurance premiums for 2010–2014. The analysis reveals a global annual insurable value of 30.6 trillion USD with associated annual MVR of 38.8 billion USD for very serious and serious incidents. Although oil tankers show the highest risk exposure (1.75 million USD per tanker per year), safety qualities are found to be best for this ship type (1.4% annual incident risk) and worst for container vessels (2.8%). Annual growth rates in total risk exposure are mostly positive with highest value for dry bulk carriers (27.8%), whereas risk exposure tends to decline for pollution of oil tankers (−2.0%) and passenger vessels (−11.3%), and for loss of life of oil tankers (−1.9%) and dry bulk carriers (−1.4%). Comparison across administrative dimensions reveals that most risk exposure lies with old open registries and with beneficial owners and the Document of Compliance companies located in high income countries. Comparison with global insurance premiums suggests reasonably adequate coverage of Maritime risks (excluding cargo) with under-insurance of risk by around 5% (about 1 billion USD per year), with some uncertainties remaining for actual loss fractions of the involved damages.
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Evaluation of total risk exposure and insurance premiums in the Maritime Industry
2016Co-Authors: Sabine Knapp, Christiaan HeijAbstract:This study provides an empirical evaluation of Maritime risk exposure expressed as the monetary value at risk (MVR), which incorporates life of crew and passengers, vessel value of hull and machinery, carried cargo value, third party liabilities, and potential external damages like pollution. MVR is based on individual safety quality data of about 130,000 vessels, on insurable values related to various potential damages, and on proxies for fractions of values lost at incidents. MVR provides a tool to enhance strategic planning of Maritime administrations and insurance providers, which is illustrated by a high level comparison of annual risk exposure with insurance premiums for 2010 to 2014. The analysis reveals a global annual insurable value of 30.6 trillion USD with associated annual MVR of 38.8 billion USD for very serious and serious incidents. Although oil tankers show the highest risk exposure (1.75 million USD per tanker per year), safety qualities are found to be best for this ship type (1.4% annual incident risk) and worst for container vessels (2.8%). Annual growth rates in total risk exposure are mostly positive with highest value for dry bulk carriers (27.8%), whereas risk exposure tends to decline for pollution of oil tankers (-2.0%) and passenger vessels (-11.3%), and for loss of life of oil tankers (-1.9%) and dry bulk carriers (-1.4%) but not of passenger vessels (6.9%). A comparison across administrative dimensions reveals that most risk exposure lies with old open registries and with beneficial owners and DoC companies located in high income countries. Comparison with global insurance premiums suggests reasonably adequate coverage of Maritime risks (excluding cargo). Our analysis indicates under-insurance of risk by around 5%, corresponding to about 1 billion USD per year, with some uncertainties remaining for the actual loss fractions of the various involved damages.
Sabine Knapp - One of the best experts on this subject based on the ideXlab platform.
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Predicting Traffic and Risk Exposure in the Maritime Industry
Safety, 2019Co-Authors: Stephen Vander Hoorn, Sabine KnappAbstract:Maritime regulators, port authorities, and Industry require the ability to predict risk exposure of shipping activities at a micro and macro level to optimize asset allocation and to mitigate and prevent incidents. This article introduces the concept of a strategic planning tool by making use of the multi-layered risk estimation framework (MLREF), which accounts for ship specific risk, vessel traffic densities, and meets ocean conditions at the macro level. This article’s main contribution is to provide a traffic and risk exposure prediction routine that allows the traffic forecast to be distributed across the shipping route network to allow for predicting scenarios at the macro level (e.g., covering larger geographic areas) and micro level (e.g., passage way, particular route of interest). In addition, the micro level is introduced by providing a theoretical idea to integrate location specific spatial rate ratios along with the effect of the risk control option to perform sensitivity analysis of risk exposure prediction scenarios. Aspects of the risk exposure estimation routine were tested via a pilot study for the Australian region using a comprehensive and unique combination of datasets. Sources of uncertainties for risk assessments are described in general and discussed along with the potential for future developments and improvements.
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Evaluation of total risk exposure and insurance premiums in the Maritime Industry
Transportation Research Part D: Transport and Environment, 2017Co-Authors: Sabine Knapp, Christiaan HeijAbstract:Abstract The empirical evaluation of Maritime risk exposure is based on the monetary value at risk (MVR) that incorporates individual safety quality data of about 130,000 vessels, insurable values related to various potential damages, and proxies for fractions of values lost at incidents. MVR provides a tool to enhance strategic planning of Maritime administrations and insurance providers, which is illustrated by a high level comparison of annual risk exposure with insurance premiums for 2010–2014. The analysis reveals a global annual insurable value of 30.6 trillion USD with associated annual MVR of 38.8 billion USD for very serious and serious incidents. Although oil tankers show the highest risk exposure (1.75 million USD per tanker per year), safety qualities are found to be best for this ship type (1.4% annual incident risk) and worst for container vessels (2.8%). Annual growth rates in total risk exposure are mostly positive with highest value for dry bulk carriers (27.8%), whereas risk exposure tends to decline for pollution of oil tankers (−2.0%) and passenger vessels (−11.3%), and for loss of life of oil tankers (−1.9%) and dry bulk carriers (−1.4%). Comparison across administrative dimensions reveals that most risk exposure lies with old open registries and with beneficial owners and the Document of Compliance companies located in high income countries. Comparison with global insurance premiums suggests reasonably adequate coverage of Maritime risks (excluding cargo) with under-insurance of risk by around 5% (about 1 billion USD per year), with some uncertainties remaining for actual loss fractions of the involved damages.
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Evaluation of total risk exposure and insurance premiums in the Maritime Industry
2016Co-Authors: Sabine Knapp, Christiaan HeijAbstract:This study provides an empirical evaluation of Maritime risk exposure expressed as the monetary value at risk (MVR), which incorporates life of crew and passengers, vessel value of hull and machinery, carried cargo value, third party liabilities, and potential external damages like pollution. MVR is based on individual safety quality data of about 130,000 vessels, on insurable values related to various potential damages, and on proxies for fractions of values lost at incidents. MVR provides a tool to enhance strategic planning of Maritime administrations and insurance providers, which is illustrated by a high level comparison of annual risk exposure with insurance premiums for 2010 to 2014. The analysis reveals a global annual insurable value of 30.6 trillion USD with associated annual MVR of 38.8 billion USD for very serious and serious incidents. Although oil tankers show the highest risk exposure (1.75 million USD per tanker per year), safety qualities are found to be best for this ship type (1.4% annual incident risk) and worst for container vessels (2.8%). Annual growth rates in total risk exposure are mostly positive with highest value for dry bulk carriers (27.8%), whereas risk exposure tends to decline for pollution of oil tankers (-2.0%) and passenger vessels (-11.3%), and for loss of life of oil tankers (-1.9%) and dry bulk carriers (-1.4%) but not of passenger vessels (6.9%). A comparison across administrative dimensions reveals that most risk exposure lies with old open registries and with beneficial owners and DoC companies located in high income countries. Comparison with global insurance premiums suggests reasonably adequate coverage of Maritime risks (excluding cargo). Our analysis indicates under-insurance of risk by around 5%, corresponding to about 1 billion USD per year, with some uncertainties remaining for the actual loss fractions of the various involved damages.
Paul Westhead - One of the best experts on this subject based on the ideXlab platform.
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partner selection for strategic alliances case study insights from the Maritime Industry
Industrial Management and Data Systems, 2010Co-Authors: Marina Solesvik, Paul WestheadAbstract:Purpose – The purpose of this exploratory study is to examine the partner selection criteria reported by Maritime firms in Norway. The study aims to analyze how a Maritime firm's competitive advantage can be enhanced by the selection of the right partner with reference to a strategic alliance.Design/methodology/approach – A multiple‐case study methodology was used. Archival, survey and interview data were explored relating to the partner selection process reported by Norwegian Maritime firms. Primary data were gathered from semi‐structured personal interviews with managers of Norwegian Maritime firms.Findings – Case study evidence suggests that the strategic alliances were successful when partners had been carefully selected. As detected elsewhere, successful alliances were associated with partners that had managed to build trustful and honest relationships, had common strategic goals, and partners that supplied resources and competencies. Notably, it was detected that cyclicality in the Maritime Industry...
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partner selection for strategic alliances case study insights from the Maritime Industry
Social Science Research Network, 2010Co-Authors: Marina Solesvik, Paul WestheadAbstract:Purpose - The purpose of this exploratory study is to examine the partner selection criteria reported by Maritime firms in Norway. This study aims to analyze how a Maritime firm’s competitive advantage can be enhanced by the selection of the right partner with reference to a strategic alliance.Design/methodology/approach - A multiple-case study methodology was used. Archival, survey and interview data were explored relating to the partner selection process reported by Norwegian Maritime firms. Primary data was gathered from semi-structured personal interviews with managers of Norwegian Maritime firms.Findings - Case study evidence suggests that the strategic alliances were successful when partners had been carefully selected. As detected elsewhere, successful alliances were associated with partners that had managed to build trustful and honest relationships, had common strategic goals, and partners that supplied resources and competencies. Notably, we detected that cyclicality in the Maritime Industry shaped the partner selection process. Trust between partners was used as mechanism to reduce uncertainty relating to the strategic alliance process. Firms seeking long-term alliances selected partners with substantial capital and financial stability to survive a market’s downturn, as well as the resources required for expansion during a recession.Practical implications - Presented findings have implications for practitioners, especially for managers of shipping firms, banks, shipyards, producers of ship equipment, ship design firms, and ship brokers. Practitioners need to be aware that the rationale for inter-firm collaboration change over time, and motives are linked to the phase of the Maritime cycle. Inter-firm collaboration provides competitive advantage benefits to firms and collaboration can protect as well as create jobs and wealth creation in Maritime communities.Originality/value - A novel conceptual contribution is the exploration of links between Maritime industrial cyclicality and the partner selection process relating to strategic alliances. This study also adds to debates relating to the profiles of internationalizing smaller firms.
Cengiz Deniz - One of the best experts on this subject based on the ideXlab platform.
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assessment of fuel cell types for ships based on multi criteria decision analysis
Journal of Cleaner Production, 2020Co-Authors: Omer Berkehan Inal, Cengiz DenizAbstract:Abstract The Maritime Industry leading organization International Maritime Organization (IMO) is bringing more and more restrictive and effective rules on reducing greenhouse gas and air polluting emissions since the significant portion of the greenhouse gas emissions in the world are caused by commercial vessels. Therefore, an alternative energy source is seeking by Maritime Industry and fuel cells can play a major role in converting such energy sources into electrical energy. The aim of this study is to compare commercial fuel cell types that can be used in merchant ships and a maximum of 5 MW main engine power is considered due to the limited power output of fuel cells. The environmental and economical performances of fuel cell types were compared and criterions’ weightings were found according to expert points using the analytic hierarchy process. A final comparison table is formed giving evaluation points for each fuel cell type and weighting for each criterion depending on their importance in the Maritime Industry. Fuel cells are ranked by eight different criteria and according to experts, safety is the most important criterion and then followed by emissions, efficiency, cost, lifetime, power output, fuel type, and size, respectively. Among seven different fuel cell types; proton exchange membrane, alkaline, phosphoric acid, diesel oil using molten carbonate, liquefied natural gas using molten carbonate, diesel oil using solid oxide and liquefied natural gas using solid oxide fuel cells, the first three places are formed by diesel oil using molten carbonate fuel cell, proton exchange membrane fuel cell and diesel oil using solid oxide fuel cell which are received 4.053, 4.044 and 3.969 respectively from the total point 5.000. As a result, diesel oil using molten carbonate fuel cell, which takes place with a slight margin from proton exchange membrane fuel cell, has been found as the most suitable fuel cell type for ships. This study highlights that despite strict emission regulations, as a fuel, diesel oil is still a strong fuel option for ships with different energy conversion units like fuel cells.
Marina Solesvik - One of the best experts on this subject based on the ideXlab platform.
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The Application of Blockchain Technology in the Maritime Industry
Green IT Engineering: Social Business and Industrial Applications, 2019Co-Authors: Karen Czachorowski, Marina Solesvik, Yuriy KondratenkoAbstract:The Maritime Industry is one of the most polluting in the world. In this paper we present fresh insights related to the application of the novel blockchain technology in reducing pollutions. We analyse recent literature on blockchain technology and propose ways of the utilization of blockchain technology in the Maritime Industry. Special interest for Maritime Industry specialists represents the perspectives of the utilization of the blockchain technology in improving the environmental efficiency of the Maritime Industry. The technology has a broad range of applicability, allowing connecting the supply chain more efficiently, providing the exchange and visibility of time-stamped proofed data, decreasing the Industry operational costs with intermediaries and increasing security. It also allows full visibility for all parties involved with proof of work, facilitating Class Societies inspections, Port State Control and audits compliance. The results of the study also show that cases on blockchain application in other fields increase the Industry willingness to its application on the Maritime Industry. While having blockchain implementation specialized third parties would increase the implementation possibility and the Industry willingness due to reduced costs and friction. The study will be interesting for scholars, policy-makers and practitioners from the Maritime Industry.
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partner selection for strategic alliances case study insights from the Maritime Industry
Industrial Management and Data Systems, 2010Co-Authors: Marina Solesvik, Paul WestheadAbstract:Purpose – The purpose of this exploratory study is to examine the partner selection criteria reported by Maritime firms in Norway. The study aims to analyze how a Maritime firm's competitive advantage can be enhanced by the selection of the right partner with reference to a strategic alliance.Design/methodology/approach – A multiple‐case study methodology was used. Archival, survey and interview data were explored relating to the partner selection process reported by Norwegian Maritime firms. Primary data were gathered from semi‐structured personal interviews with managers of Norwegian Maritime firms.Findings – Case study evidence suggests that the strategic alliances were successful when partners had been carefully selected. As detected elsewhere, successful alliances were associated with partners that had managed to build trustful and honest relationships, had common strategic goals, and partners that supplied resources and competencies. Notably, it was detected that cyclicality in the Maritime Industry...
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partner selection for strategic alliances case study insights from the Maritime Industry
Social Science Research Network, 2010Co-Authors: Marina Solesvik, Paul WestheadAbstract:Purpose - The purpose of this exploratory study is to examine the partner selection criteria reported by Maritime firms in Norway. This study aims to analyze how a Maritime firm’s competitive advantage can be enhanced by the selection of the right partner with reference to a strategic alliance.Design/methodology/approach - A multiple-case study methodology was used. Archival, survey and interview data were explored relating to the partner selection process reported by Norwegian Maritime firms. Primary data was gathered from semi-structured personal interviews with managers of Norwegian Maritime firms.Findings - Case study evidence suggests that the strategic alliances were successful when partners had been carefully selected. As detected elsewhere, successful alliances were associated with partners that had managed to build trustful and honest relationships, had common strategic goals, and partners that supplied resources and competencies. Notably, we detected that cyclicality in the Maritime Industry shaped the partner selection process. Trust between partners was used as mechanism to reduce uncertainty relating to the strategic alliance process. Firms seeking long-term alliances selected partners with substantial capital and financial stability to survive a market’s downturn, as well as the resources required for expansion during a recession.Practical implications - Presented findings have implications for practitioners, especially for managers of shipping firms, banks, shipyards, producers of ship equipment, ship design firms, and ship brokers. Practitioners need to be aware that the rationale for inter-firm collaboration change over time, and motives are linked to the phase of the Maritime cycle. Inter-firm collaboration provides competitive advantage benefits to firms and collaboration can protect as well as create jobs and wealth creation in Maritime communities.Originality/value - A novel conceptual contribution is the exploration of links between Maritime industrial cyclicality and the partner selection process relating to strategic alliances. This study also adds to debates relating to the profiles of internationalizing smaller firms.