Determination of the Expected Value of Losses Caused by the Cargo Transportation Insurance Risks by Water Transport

Kotenko, Sergiy; Ilchenko, Svitlana; KASIANOVA, V.A.; Diakov, Vitalii; Mashkantseva, Svitlana; Ніценко, Віталій

doi:10.3390/inventions7030081

Cited by 6 publications

(4 citation statements)

References 19 publications

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“…Although research exists on cargo accumulation risks in maritime supply chains (Freichel et al 2022), value loss in cargo transportation on water (Kotenko et al 2022), cargo loss in logistics systems (Wu, Chen & Tsau 2017), and marine insurance claims analysis for accidents (Ching & Yip 2022), to the authors' knowledge, there is no known research investigating weather-related marine cargo insurance claims in South Africa (or in general) (Du Plessis, Goedhals-Gerber & Van Eeden 2023).…”

Section: Marine Cargo Insurancementioning

confidence: 99%

“…These costs can include supply chain disruptions, expedited replacement freight, storage and disposal of damaged cargo, and labour costs related to filing insurance claims. Other intangible costs, such as damage to customer loyalty and business reputation, loss of customers to competitors, and revenue loss, are all critical factors to consider when assessing the true cost of cargo loss (Inbound Logistics 2004;Kotenko et al 2022). Given these factors' importance, supply chain risk management plays a vital role in organisational performance and competitiveness (Abolghasemi, Khodakarami & Tehranifard 2015;Vanany, Zailani & Pujawan 2009).…”

Section: Introductionmentioning

confidence: 99%

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Trends in weather-related marine cargo insurance claims: A South African perspective

du Plessis,

Goedhals-Gerber,

van Eeden

2023

Journal of Transport and Supply Chain Management

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This gap can be widened by unforeseen or unprecedented events that increase the risk and uncertainty for insurers. One such event is extreme weather, which has become more frequent and severe because of climate change. Weather-related claims are common in the marine insurance industry; however, extreme weather as a result of climate change in South Africa has been identified as a new threat, potentially costing the industry millions (Orlek 2015). The province of KwaZulu-Natal (KZN) in South Africa has experienced several devastating storms in recent Background: Marine cargo insurance covers the loss or damage to goods while in transit. It is an important supply chain risk management tool for organisations involved in international trade, especially in regions where cargo insurance penetration is low, and protection gaps are high. However, marine cargo insurance faces new challenges because of increasing frequency and severity of extreme weather events. This study focuses on the case of South Africa: a developing country with a strategic role in connecting Africa with the global market.Objectives: The research analyses the trends, differences, and seasonality of weather-related marine cargo insurance claims in South Africa from 2013 to 2022.Method: Statistical and general claims analysis was performed on a master dataset of 17 727 claims to answer the three research questions related to the research objectives. Results:The results show that weather-related marine cargo insurance claims have been increasing over the past decade, creating challenges and disruptions to the supply chain network in South Africa. Furthermore, this research shows that weather-related claims have higher average values and follow a seasonal pattern compared with non-weatherrelated events on supply chains in South Africa. Conclusion:This research reveals the growing impact of weather-related events in South Africa.Contribution: It provides practical and theoretical implications for supply chain managers and insurers to manage weather-related risks more effectively and proactively contributes to the literature by offering empirical insights from a developing country perspective, and provides considerations for future work.

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Section: Marine Cargo Insurancementioning

confidence: 99%

Section: Introductionmentioning

confidence: 99%

Trends in weather-related marine cargo insurance claims: A South African perspective

du Plessis,

Goedhals-Gerber,

van Eeden

2023

Journal of Transport and Supply Chain Management

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“…The conclusions of Kieti et al [6] are important in the context of the presented article because in [6] the implementation of modern logistics management technologies in Kenya was studied, which, according to certain IT development trends, is close to the realities of Ukraine. Also, the scientific work of Kotenko et al [7], which provides a benchmark and competitive analysis of the port productivity model is interesting in view of the importance of sea transportation for the logistics process in Ukraine. From the same point of view, the analysis by Pavlova et al [8] of logistics processes on the world market and the activities of Ukrainian companies related to the field of agricultural logistics is useful.…”

Section: Literature Reviewmentioning

confidence: 99%

Mathematical Approach to the Formation of a Methodological Basis of Economic Rationality of Interaction of Elements of the System of Logistics Management in Agriculture

Lyshenko¹,

Oriekhova²,

Polyatykina³

et al. 2023

ФКДПТП

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The field of managing the logistics of agricultural products under significant dynamic changes in today's conditions requires the formation of new approaches using the possibilities of modern information tools. The article presents a systematic mathematical approach to logistics management in agriculture for conditions with an insignificant level of risk and under conditions of significant threats to the logistics processes of the agricultural industry. The presented study also examines the issue of analyzing the effectiveness of management actions in the logistics process, both operationally and strategically.The developed mathematical approach takes into account a wide range of conditions for carrying out logistics activities - both at a low level of risk in the implementation of the logistics process, and in circumstances of significant threats that lead to the minimization of the reliability of logistics in the agricultural sector. This is especially important today, given the significant level of negative impacts on logistics processes due to military threats. The growth of these influences even leads to the destabilization of the world food market, and the threat of famine in some regions of the world.The proposed mathematical approach takes into account both the emergence of new risks, the significantly increased dynamic nature of the effects on logistics activities in the agricultural sector of the economy, and the traditional specificity of the conditions for the implementation of logistics processes in the agricultural sector. The specificity of logistics management in the agricultural sector is due to the peculiarities of the agricultural production process; properties inherent in agricultural products, conditions of distribution of these products. This determines a wide range of tasks that must be performed by the logistics of the agricultural sector. This, in turn, creates a need for a highly adaptive dynamic approach when forming a set and combination of logistics tasks and goals. Algorithms, tools and methods were specially developed to implement this approach. In particular: the unification of target functions; the approach of flexible adaptive changes in the ranks of target functions to ensure the appropriate level of rationality of logistics process management; a compromise approach in the case of the need to simultaneously achieve a group of set goals or a group of goals; the approach of assessing the strategic impact of a management decision for operating not with static values of parameters, but with their trends over time. In general, this makes it possible to achieve the appropriate level of economic efficiency of agricultural logistics management even with dynamic changes in the conditions of its implementation and to ensure a high level of reliability of the logistics process even with an increase in the level of threats.

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“…Due to the dynamic conditions of military operations and uncertain risks, it is not possible to apply such models. A more rational ap proach is the model proposed by Kotenko, et al [7] because dynamic changes in cargo transportation risks are taken into account. But the peculiarities of this model, due to the task of optimizing sea transportation, make it difficult to adapt it for automobile transportation of goods.…”

mentioning

confidence: 99%

Peculiarities of truck transportation in wartime conditions

Minakova,

Volobuyeva,

Minakov

et al. 2023

Nauk. visn. nat. hirn. univ.

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Purpose. To identify the peculiarities and problems of automobile transport (AT) in the war conditions (WC) in Ukraine. To propose ways to solve the mentioned problems, to eliminate reasons that lead to an increase in the risks for AT. To develop a mathematical model for optimization of transportation by AT under unclear military risks. Methodology. The method of abstract-logical analysis made it possible to establish peculiarities and problems of AT in WC and propose ways to solve these problems, to eliminate the causes that lead to increase in risks of AT. The method of analysis and synthesis is used to determine the circumstances of the narrowing of the influence of institutional approaches on the optimization of AT and to propose a combination of direct and indirect institutional influence. The method of comparative analysis finds that the unevenness of risks on transport routes leads to the imbalance of transportation and proposes measures to reduce the level of imbalance, to approach optimal results as well as proposes the formation of multi-stage transportation, which will ensure the variability of transport chains due to fragmentation and an increase in the level of organization of transport networks. Mathematical methods were applied to develop a model for optimization of AT in WC. Findings. The key tasks of building a strategy of a highly adaptive transport system were formulated and its peculiarities were indicated. Circumstances of narrowing the influence of institutional approaches to AT in WC were established and a combination of direct and indirect institutional influence was proposed, which will be based on the developed mathematical model. It is established that unevenness of risks on transport routes leads to imbalance of transportation and measures to reduce the imbalance are proposed. The formation of multi-stage transportation is proposed for variability of transport chains, organization of transport networks and ensuring the reliability of AT. Originality. To take into account risks with a significant level of uncertainty, a strategy for building a highly adaptive transport system was proposed, and a mathematical model for optimization of AT in the presence of uncertain military risks was developed. Practical values. The peculiarities and problems of AT in the conditions of the war in Ukraine are given. Ways to solve the mentioned problems, to eliminate the causes that lead to increase in risks for AT are proposed.

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Determination of the Expected Value of Losses Caused by the Cargo Transportation Insurance Risks by Water Transport

Cited by 6 publications

References 19 publications

Trends in weather-related marine cargo insurance claims: A South African perspective

Trends in weather-related marine cargo insurance claims: A South African perspective

Mathematical Approach to the Formation of a Methodological Basis of Economic Rationality of Interaction of Elements of the System of Logistics Management in Agriculture

Peculiarities of truck transportation in wartime conditions

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