Vessel Damage Cost Differentials: Bulk, Container and Tanker Accidents
This paper investigates whether there are accident vessel damage cost differentials among container, tanker and bulk vessels. Tobit estimates of accident vessel damage cost equations suggest that vessel damage cost differentials exist for container versus bulk and tanker versus bulk vessel accidents, but not for container versus tanker vessel accidents. The vessel damage cost per vessel gross ton of a container (tanker) accident is $33.37 ($18.37) less than that of a bulk accident, all else held constant. The damage cost differentials are associated with fire/explosion accidents and human and environmental accident causes. The accident vessel damage cost differentials found in this paper may be compared with vessel hull insurance rates for investigating whether the latter reflect the former. Also, such comparisons may reveal whether there is cross-subsidisation among vessel hull insurance payees.
- Record URL:
- Find a library where document is available. Order URL: http://worldcat.org/issn/13881973
- © Palgrave Macmillan Ltd 2002.
- Talley, Wayne K
- Publication Date: 2002-12
- Media Type: Web
- Pagination: pp 307-322
- TRT Terms: Bulk cargo; Containerships; Costs; Crash types; Environmental impacts; Explosions; Fires; Human factors in crashes; Ships; Tankers; Water transportation crashes
- Subject Areas: Marine Transportation; Safety and Human Factors; Security and Emergencies;
- Accession Number: 01608202
- Record Type: Publication
- Files: TRIS
- Created Date: Jun 27 2016 11:27AM