RELATIONSHIPS BETWEEN THE PROFITABILITY AND SAFETY OF SHIPS

Ships are, generally speaking, a very secure means of transport. Nevertheless, from a modern technological point of view they are not as secure as they might be. Because human lives are irreplaceable we have to examine carefully how to attain the greatest feasible safety whenever it is not possible to provide the maximum physically possible safety. This is true in most practical cases. An optimization in this sense, however, is only possible if the relationships between safety and profitability are clearly understood. One frequently finds the opinion that safety cannot be reconciled with profitability. The idea is that it is indeed possible to calculate the necessary expenditures for a certain standard of safety but that it is impossible to calculate the profit resulting from this higher safety. This opinion could not be contradicted as long as safety was considered an intangible factor. In the recent past, however, safety has been made more amenable to quantitative analysis. It is possible now to take the next step in trying to find quantitative relationships between safety and profitability. In the following report methods of finding such relationships are demonstrated.

• Corporate Authors:

  University of Michigan, Ann Arbor

  Department of Naval Architects and Marine Engineers
  Ann Arbor, MI  United States  48109
• Authors:
  • Krappinger, O
• Publication Date: 1970-1

Media Info

• Features: References;
• Pagination: 55 p.

Subject/Index Terms

• TRT Terms: Reliability; Safety; Safety engineering; Standards
• Uncontrolled Terms: Safety standards
• Subject Areas: Marine Transportation; Safety and Human Factors;

Filing Info

• Accession Number: 00072888
• Record Type: Publication
• Source Agency: University of Michigan, Ann Arbor
• Report/Paper Numbers: No. 068
• Files: TRIS
• Created Date: Jan 9 1975 12:00AM