publication . Other literature type . Article . 2009

Analysis of ship life cycles—The impact of economic cycles and ship inspections

Govert Bijwaard; Sabine Knapp;
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  • Published: 01 Mar 2009
  • Publisher: Elsevier BV
Abstract
Due to the shipping industry's international legal framework, there are loopholes in the system, which can increase the risk of incidents with high economic costs due to the substandard operation of vessels. This article uses duration analysis and through the creation of ship life cycles provides insight into the effectiveness of inspections on prolonging ship lives. The analysis accounts for fluctuations in the relevant economic environment and the (possibly time-varying) ship particulars. It is based on a unique dataset containing information on the timing of accidents, inspections and ship particular changes of more than 50,000 vessels over a 29-year time per...
Subjects
free text keywords: Economics and Econometrics, Aquatic Science, Law, Management, Monitoring, Policy and Law, General Environmental Science
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