The Experts below are selected from a list of 303 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.
Manish Verma - One of the best experts on this subject based on the ideXlab platform.
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a bi objective approach to routing and scheduling maritime transportation of crude Oil
Transportation Research Part D-transport and Environment, 2015Co-Authors: Atiq W. Siddiqui, Manish VermaAbstract:Abstract Maritime transportation, the primary mode for intercontinental movement of crude Oil, accounts for 1.7 billion tons annually – bulk of which are carried via a fleet of large crude Oil Tankers. Although spectacular episodes such as Exxon Valdez underline the significant risk and tremendous cost associated with marine shipments of hazardous materials, maritime literature has focused only on the cost-effective scheduling of these Tankers. It is important that Oil transport companies consider risk, since the insurance premiums is contingent on the expected claim. Hence through this work, we present a mixed-integer optimization program – with operating cost and transport risk objectives, which could be used to prepare routes and schedules for a heterogeneous fleet of crude Oil Tankers. The bi-objective model was tested on a number of problem instances of realistic size, which were further analyzed to conclude that the cheapest route may not necessarily yield the lowest insurance premiums, and that larger vessels should be used if risk is more important as it enables better exploitation of the risk structure.
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A Risk-Cost Approach to Routing & Scheduling Crude Oil Tankers
2014Co-Authors: Atiq W. Siddiqui, Manish VermaAbstract:Maritime transportation, the primary mode for intercontinental movement of crude Oil, accounts for 1.7 billion tons annually -bulk of which are carried by via a fleet of large crude Oil Tankers. These Tankers are very expensive to own and manage, and hence the relevant maritime literature has focused only on the cost-effective scheduling of these Tankers. We argue that a cost-only approach may not be appropriate for a hazmat such as crude Oil, since some of these shipments could lead to Oil spills and occasional accidents resulting in significant environmental, social, and economic consequences. We propose a mixed-integer optimization program -with both the operating cost and transport risk objectives -for routing and scheduling a heterogeneous fleet of crude Oil Tankers. The optimization program was tested on realistic size problem instances to gain managerial insights.
Sabine Knapp - 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.
Jeom Kee Paik - One of the best experts on this subject based on the ideXlab platform.
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rapid hull collapse strength calculations of double hull Oil Tankers after collisions
Ships and Offshore Structures, 2017Co-Authors: Muhammad Faisal, Samy A. M. Youssef, Sung Hwan Noh, Md Rokan Uddin Kawsar, Jung Kwan Seo, Jeom Kee PaikAbstract:ABSTRACTThe primary objective of this study is to develop a rapid method for calculating hull collapse strength of double hull Oil Tankers after collisions. For this purpose, the statistical characteristics of hull girder collapse after collision are studied. Four double hull Oil Tankers with different size are considered: Panamax, Aframax, Suezmax and Very Large Crude Carrier. A set of 50 credible collision scenarios are selected by a sampling technique associated with the collision hazard identification based on the historical ship collision database. Four parameters, namely vertical collision location, damage penetration, striking ship's bulbous bow height, and striking ship's bulbous bow length are determined as a consequence of the corresponding collision scenario. The intelligent supersize finite element method is used to compute the progressive collapse behaviour of hull girder structures with the collision damages so determined. The residual hull girder strength indices can then be determined and ...
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A new method for assessing the safety of ships damaged by collisions
Ships and Offshore Structures, 2017Co-Authors: Samy A. M. Youssef, Jeom Kee PaikAbstract:ABSTRACTThe longitudinal strength of a ship decreases with the reduction in its bending moment capacity following a collision accident. Therefore, the damaged ship should be able to reach the closest harbour safely without any catastrophic hull girder collapse. This paper aims to develop a method to predict the hull girder residual strength of double-hull Oil Tankers by considering probabilistic collision damage scenarios. The collision damage index is defined as the reduction ratio of the vertical hull girder moment of inertia, and the residual strength index is (RSI) characterised as the reduction ratio of the hull girder ultimate bending moment. Four different as-built double-hull Oil Tankers were studied to demonstrate the proposed method and to formulate the collision damage index. The relationships between the residual strength index and the collision damage index are identified in the form of diagrams. The produced diagrams and regressions represent a first-cut assessment of a ship's safety immedia...
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Environmental consequences associated with collisions involving double hull Oil tanker
Ships and Offshore Structures, 2015Co-Authors: Yang Seop Kim, Samy A. M. Youssef, Jung Kwan Seo, Bong Ju Kim, Serdar Turgut Ince, Sang Jin Kim, Jeom Kee PaikAbstract:As the total world trade of Oil by Tankers grow, the potential risk to the marine environment increases. When Oil Tankers are involved in accidents (e.g., collision or grounding), a consequence of the resulting damage could be the release of crude Oil or petroleum products into the sea. The aim of the present study is to investigate the environmental consequences of the involnement of Oil Tankers in collision. Using probabilistic approaches, credible scenarios of ship–ship collision are selected to create a representative sample of the most possible ones. The LS-DYNA non-linear finite element method is used to predict the resulting damage or opening associated with the individual scenarios. The environmental consequences are then estimated by calculation of the amount of Oil spilled in each scenario. In addition, the potential damage to the environment is presented in terms of monetary units that can be understandable to all stakeholders.
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Effect of corrosion on the ultimate strength of double hull Oil Tankers - Part II: hull girders
Structural Engineering and Mechanics, 2012Co-Authors: Kyun Kim, Jung Kwan Seo, Dae Kyeom Park, Dong Hee Park, Han Byul Kim, Bong Ju Kim, Jeom Kee PaikAbstract:Numerous Oil tanker losses have been reported and one of the possible causes of such casualties is caused by the structural failure of aging ship hulls in rough weather. In aging ships, corrosion and fatigue cracks are the two most important factors affecting structural safety and integrity. This research is about effect on hull girder ultimate strength behavior of double hull Oil tanker according to corrosion after Part I: stiffened panel. Based on corrosion data of Part I (time-dependent corrosion wastage model and CSR corrosion model), when progressing corrosion of fourtypes of double hull Oil Tankers (VLCC, Suezmax, Aframax, and Panamax), the ultimate strength behavior of hull girder is compared and analyzed. In case of the ultimate strength behavior of hull girder, when occurring corrosion, the result under vertical and horizontal bending moment is analyzed. The effect of time-dependent corrosion wastage on the ultimate hull girder strength as well as the area, section modulus, and moment of inertia are also studied. The result of this research will be useful data to evaluate ultimate hull girder strength of corroded double hull Oil tanker.
Atiq W. Siddiqui - One of the best experts on this subject based on the ideXlab platform.
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a bi objective approach to routing and scheduling maritime transportation of crude Oil
Transportation Research Part D-transport and Environment, 2015Co-Authors: Atiq W. Siddiqui, Manish VermaAbstract:Abstract Maritime transportation, the primary mode for intercontinental movement of crude Oil, accounts for 1.7 billion tons annually – bulk of which are carried via a fleet of large crude Oil Tankers. Although spectacular episodes such as Exxon Valdez underline the significant risk and tremendous cost associated with marine shipments of hazardous materials, maritime literature has focused only on the cost-effective scheduling of these Tankers. It is important that Oil transport companies consider risk, since the insurance premiums is contingent on the expected claim. Hence through this work, we present a mixed-integer optimization program – with operating cost and transport risk objectives, which could be used to prepare routes and schedules for a heterogeneous fleet of crude Oil Tankers. The bi-objective model was tested on a number of problem instances of realistic size, which were further analyzed to conclude that the cheapest route may not necessarily yield the lowest insurance premiums, and that larger vessels should be used if risk is more important as it enables better exploitation of the risk structure.
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A Risk-Cost Approach to Routing & Scheduling Crude Oil Tankers
2014Co-Authors: Atiq W. Siddiqui, Manish VermaAbstract:Maritime transportation, the primary mode for intercontinental movement of crude Oil, accounts for 1.7 billion tons annually -bulk of which are carried by via a fleet of large crude Oil Tankers. These Tankers are very expensive to own and manage, and hence the relevant maritime literature has focused only on the cost-effective scheduling of these Tankers. We argue that a cost-only approach may not be appropriate for a hazmat such as crude Oil, since some of these shipments could lead to Oil spills and occasional accidents resulting in significant environmental, social, and economic consequences. We propose a mixed-integer optimization program -with both the operating cost and transport risk objectives -for routing and scheduling a heterogeneous fleet of crude Oil Tankers. The optimization program was tested on realistic size problem instances to gain managerial insights.
