Survival analysis of the world ship demolition market

Yin, Jingbo; Fan, Lixian

doi:10.1016/j.tranpol.2017.12.019

Cited by 23 publications

(26 citation statements)

References 12 publications

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“…The individual shipowners' ship demolition decisions and their behavioral changes after the financial crisis period have been analyzed by Yin and Fan (2018). The findings of the survival analysis models (the one period before the financial crisis in 2008 and one after) have indicated that while the main actors of ship demolition market are the shipowners from developed countries before the financial crisis, more shipowners from developing countries started to get involved after the crisis period.…”

Section: Literature Reviewsmentioning

confidence: 99%

The Reflection of Ship Demolition Prices to Construction Costs in Turkey

Açık¹,

Baran²

2019

Marine Science and Technology Bulletin

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The ship demolition sector is one of the major suppliers of the steel market, even though its share in the total scrap market is very small. As the sector is a supplier of the steel market, it is inevitable that the price changes will be reflected in the construction sector, which is one of the largest steel customers. In this context, it is aimed in this study to determine whether the changes in demolition prices of Turkey, which is one of the main ship demolition locations in the world, have an effect on the construction costs in the country. In order to investigate possible relationships, Turkish demolition prices and Construction Cost Index (CCI) variables are used. The dataset covers the dates between January 2015 and December 2018, and consists of 48 monthly observations. Asymmetric causality test is used to determine the causal relationship between the variables by separating the shocks they contain as positive and negative. The econometric relationship is analyzed with both the USD currency price offered by Turkish demolition businesses and the corresponding TL currency prices in order to diversify the results. According to the results, causality relation from positive shocks in USD based demolition prices to the positive shocks in construction costs index is determined. In addition, there are causalities from positive shocks in TL based demolition prices to the positive shocks in construction cost index, and from negative shocks in demolition prices to the negative shocks in the index. This situation shows that the foreign exchange rates also play an important role in shaping the costs of the construction sector.

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Section: Literature Reviewsmentioning

confidence: 99%

The Reflection of Ship Demolition Prices to Construction Costs in Turkey

Açık¹,

Baran²

2019

Marine Science and Technology Bulletin

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“…Hess et al [11], in their report conducted for the US Navy, explain that the decision whether a ship lives or dies is economical. Yin and Fan [9] underline the effects of ship obsolescence, technological changes and environmental regulations on demolition decision. They also consider the significant effects of operating costs and the state of the shipping market on that decision [9].…”

Section: Literature Reviewmentioning

confidence: 99%

“…Yin and Fan [9] underline the effects of ship obsolescence, technological changes and environmental regulations on demolition decision. They also consider the significant effects of operating costs and the state of the shipping market on that decision [9]. Buxton [12] argues that scrap sale decision of an owner is due to the state of both second-hand and freight markets.…”

Section: Literature Reviewmentioning

confidence: 99%

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A Decision-Support Tool for Demolition Sale of a Vessel

Akdemir

Beşkese

2019

brod

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The fundamental goal of any business is to create value for its owners. In shipping, the value is not only created with freight income, but also with the trade of the vessel itself. A ship has a limited lifetime and can be traded in different markets. The lowest value it will ever receive is its scrap price. An owner may decide to sell a vessel to scrap due to various reasons together with her physical condition and age. In this paper, a fuzzy Analytic Hierarchy Process based decision model is used to provide practitioners with a decision support tool for demolition sale versus further trading of a vessel. The usage of the tool is further illustrated with five actual cases.

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“…Demolition of aged ships is an important strategy for balancing the fleet capacity in the shipping sector [1]. As discussed by Yin and Fan [1], it is influenced by the ship obsolescence, technical developments, and environmental regulations on ship demolition, as well as by the state of the shipping market in general and by operating costs. A similar conclusion can also be drawn from the studies done by Stott [2] and Schøyen et al [3].…”

Section: Introductionmentioning

confidence: 99%

Structural Integrity of an Aged Oil Tanker Converted Into the Port Oil Storage

Vladimir

Senjanović

Alujević

et al. 2019

TFAMENA

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A procedure for strength assessment of a ship structure partially grounded in mud is developed. The paper deals with a practical engineering problem of evaluating the structural integrity of a single bottom tanker which, after its regular service, was grounded in mud and continued to be used as oil storage in order to increase the storage capacity of the port. A mathematical model of the ship static equilibrium is formulated, consistently taking into account the ship, the cargo and ballast weights, the supporting mud reaction, and the surrounding water buoyancy. For simplicity, the global strength assessment is done using the beam model, where the calculation of ship sectional properties is performed by the specialized in-house software. Subsequently, the developed model is used as a basis for a detailed 3D FEM analysis. The thickness measurements of the complete ship structure were performed in order to directly account for the corrosion effect.

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Survival analysis of the world ship demolition market

Cited by 23 publications

References 12 publications

The Reflection of Ship Demolition Prices to Construction Costs in Turkey

The Reflection of Ship Demolition Prices to Construction Costs in Turkey

A Decision-Support Tool for Demolition Sale of a Vessel

Structural Integrity of an Aged Oil Tanker Converted Into the Port Oil Storage

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