This article describes the main features of a container terminal, its planning principles, and the various infrastructure components that require engineering design. In addition, it provides some experience‐based recommendations for the successful development of the container terminal infrastructure.
The Master Plan for the Port of Iskenderun, Turkey, is guiding the conversion of the port from an aged facility into a state-of-the-art containerized cargo terminal with additional general and dry bulk capability. The port, originally designed as a general cargo and dry bulk port, was at the end of its design life and needed modernization. The planning team worked closely with the concessionaire to define and prioritize the functional and space demands of the different cargoes and work out an arrangement that would best accommodate the container berths while providing enough storage and berthing space for dry bulk and general cargoes.This brown-field case study summarizes the challenges faced to accommodate the conflicting space demands of different cargoes, operations and construction, and the spatial (layouts) and temporal (phasing) solutions devised for this brown field conversion project.
INTRODUCTIONTurkey has seen strong and consistent growth over the past decade. The benefits of macroeconomic stability have been clear, particularly in strong GDP growth, a rising level of foreign direct investment and quickly improving standards of living.
A real options (RO) formulation is proposed for decision-making on the timing to upgrade the seismic performance of existing seaports with increasing throughput demand in earthquake prone areas. The pay-off of the seismic upgrade investment option is estimated based on projected net earnings, repair cost, and downtime for a damaging reference seismic event having a pre-specified annual probability of occurrence. These projections inform a discrete-time RO binomial tree, following the American option valuation framework, which propagates the probability of the reference seismic event assuming Poisson temporal distribution of earthquake occurrence. The net present value of the expected annual payoff of the considered investment is used as an index supporting risk-informed decision-making discounted by the weighted average cost of capital (WACC). Numerical examples pertaining to decision makers with different capital cost, namely port authorities and terminal operators, operating in different economic environments typical of developed and developing countries are furnished to illustrate the applicability of the proposed RO formulation. It is found that high WACC and/or low throughput growth bring the optimal seismic upgrade timing forward, while earthquake consequences and upgrade cost have almost no influence on this timing.
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