Life-cycle cost analysis of an innovative marine dual-fuel engine under uncertainties

Bui, Khanh Q.; Perera, Lokukaluge P.; Emblemsvåg, Jan

doi:10.1016/j.jclepro.2022.134847

Cited by 27 publications

(9 citation statements)

References 22 publications

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“…Gradually, this approach was extended to encompass equipment selection, renewal, and renovation, as well as maintenance cost control within asset-intensive industries such as power grids (Li et al, 2019), railroads (Shi et al, 2021), bridges (Han et al, 2021;Karabulut et al, 2021), ports (Berawi et al, 2018) and vessels (Wang et al, 2021a). With this approach, it is possible to evaluate the overall long-term economic efficiency and make the optimal strategic choice from a financial perspective (Bui et al, 2022;Kumari et al, 2022;Leiva-Maldonado et al, 2023). Specifically, for projects characterized by long product life cycles and substantial maintenance expenses, such as SP, LCC proves to be a suitable method (Colarossi and Principi, 2023;Huo et al, 2017;Liu et al, 2023).…”

Section: Methodsmentioning

confidence: 99%

A life cycle cost analysis of different shore power incentive policies on both shore and ship sides based on system dynamics and a Chinese port case

Gu,

2024

Environ Sci Pollut Res

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Shore power (SP) is widely recognized as an efficient strategy for reducing air pollution in port areas. Unfortunately, the adoption of SP has been relatively low, resulting in limited emission reductions and financial losses. To address these challenges, this paper focuses on enhancing the utilization rate of SP. We propose a system dynamics model that assesses the impact of various incentive policies on the economic and environmental benefits of SP. The model considers the life cycle cost and comprises four subsystems. By conducting a case study on Nansha Port, we find that price subsidies are more effective than construction subsidies in overcoming economic barriers. Furthermore, we observe that the overall economic benefits only increase when the electricity price decreases. This is because lowering the electricity price enhances the profitability of ships without negatively affecting port revenue.Additionally, it is the proportion of the electricity price and service price that determines the overall economic benefits, rather than the SP price itself. Hence, it is recommended to provide preferential subsidies for the electricity price.

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Section: Methodsmentioning

confidence: 99%

A life cycle cost analysis of different shore power incentive policies on both shore and ship sides based on system dynamics and a Chinese port case

Gu,

2024

Environ Sci Pollut Res

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show abstract

Section: Methodsmentioning

confidence: 99%

A Life Cycle Cost Analysis of Different Shore Power Incentive Policies on Both Shore and Ship Sides based on System Dynamics and a Chinese Port Case

Gu,

2024

Preprint

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Shore power (SP) is widely recognized as an efficient strategy for reducing air pollution in port areas. Unfortunately, the adoption of SP has been relatively low, resulting in limited emission reductions and financial losses. To address these challenges, this paper focuses on enhancing the utilization rate of SP. We propose a system dynamics model that assesses the impact of various incentive policies on the economic and environmental benefits of SP. The model considers the life cycle cost and comprises four subsystems. By conducting a case study on Nansha Port, we find that price subsidies are more effective than construction subsidies in overcoming economic barriers. Furthermore, we observe that the overall economic benefits only increase when the electricity price decreases. This is because lowering the electricity price enhances the profitability of ships without negatively affecting port revenue. Additionally, it is the proportion of the electricity price and service price that determines the overall economic benefits, rather than the SP price itself. Hence, it is recommended to provide preferential subsidies for the electricity price.

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“…The LCC approach helps make informed decisions about investments by evaluating the long-term costs of a system. In this case, the stage of the LCC approach is adopted from the LCC framework to analyze retrofitting engine systems as an additional reference [25]. The LCC and system dynamics stages are similar.…”

Section: Methodsmentioning

confidence: 99%

Development dynamic compliance cost model for implementation of ballast water management convention: shipowner perspective

2023

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The Ballast Water Management Convention (BWMC) regulates ship ballast water management to avoid the spread of aquatic invasive species. The convention requires all ships, including existing ones, to have a Ballast Water Treatment System (BWTS) onboard before September 8, 2024. There are some concerns about the compliance costs of BWMC, especially the additional cost of retrofitting cases. The ship retrofitting cost will depend on various factors, and it can be difficult for a shipowner to determine accurately. The procedure is intricate, and there are many factors to consider, such as the ship's size, BWTS system complexity, and the price of materials and modification level. In this paper, A proposed approach involves expert judgment to capture the effect of multi-stakeholder and estimate the compliance cost. As an essential part of the research methodology, the system dynamics method and life cycle cost are combined to develop a compliance cost model during the ship's lifetime. The simulation model shows that the confidence level of retrofitting costs for each BWTS is more than 94%. Therefore, the model can be used to estimate additional costs. As a result, BWTS type A is the most economical system for small tankers, with an estimated cost of USD 802,860 for the remaining 12 years of the ship's lifetime. Shipowners can use this model as a supporting decision tool to determine which BWTS would be suitable and assist in determining the budget necessary to comply with the BWMC.

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Life-cycle cost analysis of an innovative marine dual-fuel engine under uncertainties

Cited by 27 publications

References 22 publications

A life cycle cost analysis of different shore power incentive policies on both shore and ship sides based on system dynamics and a Chinese port case

A life cycle cost analysis of different shore power incentive policies on both shore and ship sides based on system dynamics and a Chinese port case

A Life Cycle Cost Analysis of Different Shore Power Incentive Policies on Both Shore and Ship Sides based on System Dynamics and a Chinese Port Case

Development dynamic compliance cost model for implementation of ballast water management convention: shipowner perspective

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