Support for Financial Decision-Making

Forcellati, Corrado Lillelund; Georgeson, Claire; Lind, Mikael; Singh, Sukhjit; Sjöberger, Carl; Woxenius, Johan

doi:10.1007/978-3-030-50892-0_16

Cited by 1 publication

(2 citation statements)

References 3 publications

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“…After the investigation, these issues were, firstly, the irresponsibility of Captain Joseph Hazelwood to perform his duties properly during the critical navigation in the sea area of Prince William Sound. Before the ship departed from the port, he was found to consume alcohol against the regulations of STCW 95 (Section B-VIII/2 Part 5, paragraphs [34][35][36] and MLC 2006 (Guideline B4.3.1 & B4.3.10). When the ship departed and while under the control of the navigator, the captain had gone to his cabin and returned to the bridge shortly before the navigator left.…”

Section: The Most Prominent Factors That Led To the Accidentmentioning

confidence: 99%

“…It should be stated that rarely is a ship understaffed due to extenuating circumstances, such as COVID-19. Usually, the managing company violates the minimum number of on-board personnel requirements to cut expenses and minimise the operational costs of a voyage [34]. This practice was common until the managing companies realised that the cost of a shipping accident is substantially more than the benefits for crew decreases.…”

Section: No Further Actionmentioning

confidence: 99%

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Proactive Steps Towards Sustainable Shipping: Assessing Maritime Accidents of the Past to Prevent Similar Incidents in the Future

Boviatsis¹,

Vlachos²

2023

IJTDI

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Environmental disasters can maliciously affect the property, human lives and entire ecosystems. The magnitude and extent of such a disaster can lead to uncertainty about the measurement and the extent of liability, and how the restoration of the environmental damage will be achieved. Oil spills from tanker vessels constitute the most severe threat to the local and global ecosystem in the shipping industry. when an oil spill incident emerges, it usually spreads rapidly, leading to massive disasters in the local aquatic ecosystem and human property without prompt treatment. This paper assesses the famous accident of Exxon Valdez: (i) to identify and measure the effect of each contributing factor to the accident, (ii) to determine the best solutions to minimise such risks in the future with the implementation of failure mode effect analysis in conjunction with the doctrinal method and at the same time (iii) to propose a new method of accident assessment by combining the doctrinal method with a variation of a well-known risk assessment method.

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Section: The Most Prominent Factors That Led To the Accidentmentioning

confidence: 99%

Section: No Further Actionmentioning

confidence: 99%