ON THE ECONOMICS OF VARIOUS MEANS OF PROPULSION OF A VLCC

An investigation of the impact that the choice of the main propulsion machinery has on the economics of a VLCC, is carried out. Following the discussion of a number of different options and with due regard to both economical and technical aspects, three different types of propulsion are selected and compared in an economic analysis. The three candidates are, a reheat steam turbine, a slow speed diesel and a combined diesel and gas plate (CODAG). The latter was chosen because, even though it has no previous merchant marine application, it offers two design speeds which might prove out to be an attractive feature, given the frequent off design operation of the VLCC. The figure of merit used to compare the various options is the Net Present Value (NPV) which allows far greater operational flexibility of the vessel than the more widely used Required Freight Rate (RFR). The model also allows for variations in the freight rates and takes into account the engines performance at reduced powers as well as operation under ballast.

  • Corporate Authors:

    Massachusetts Institute of Technology

    Department of Civil Engineering, 77 Massachusetts Avenue
    Cambridge, MA  USA  02139
  • Authors:
    • Zolotas, A B
  • Publication Date: 1975-7

Subject/Index Terms

Filing Info

  • Accession Number: 00131221
  • Record Type: Publication
  • Source Agency: Massachusetts Institute of Technology
  • Files: TRIS
  • Created Date: Apr 21 1976 12:00AM