Economic Impacts of Accidents on the Marine Industry

The ultimate goal of this research effort was to gather information on the costs of marine accidents and to estimate the share of those costs that might be avoided (i.e., benefits gained) through implementation of proactive accident prevention programs by companies involved in maritime operations. Such costs generally fall into two categories - direct costs and indirect costs. In general, direct costs are those costs that are easily attributable to an accident in terms of the impact on a company's bottom line. Common examples of such costs include property and equipment damage, workers' compensation payments resulting from injuries, cleanup costs, lost income resulting from operating delays or interruptions, etc. Indirect costs include productivity losses, costs of management and clerical time to investigate accidents and process information, absenteeism, impacts on public image and employee morale, etc.

• Record URL:
  https://ntlrepository.blob.core.windows.net/lib/20000/20100/20144/PB98111420.pdf
• 
• Corporate Authors:

  ICF Kaiser, Incorporated

  9300 Lee Highway
  Fairfax, VA  United States  22031-1207

  U.S. Coast Guard

  Marine Safety Council, 400 7th Street, SW
  Washington, DC  United States  20590
• Authors:
  • DeMarco, Greg
  • Frederick, Robert
  • Thomas, Cliff
• Publication Date: 1997-4

Language

• English

Media Info

• Media Type: Web
• Features: Figures; Tables;
• Pagination: 70p

Subject/Index Terms

• TRT Terms: Benefit cost analysis; Countermeasures; Direct costs; Economic impacts; Indirect costs; Maritime industry; Prevention; Water transportation crashes
• Subject Areas: Administration and Management; Economics; Marine Transportation; Safety and Human Factors; Security and Emergencies;

Filing Info

• Accession Number: 01115429
• Record Type: Publication
• Files: NTL, TRIS
• Created Date: Nov 25 2008 7:33AM