Calculating the Unit Voyage Cost in Maritime Transportation: An Implementation Study

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https://eares.org/siteadmin/upload/EPH716021.pdf

 

Abstract— Maritime transport includes intensive political risks, and it is classified according to factors such as speed, time, distance, cost, stability and type of cargo. Considering cargo types, maritime transport is divided into two sections which are liner shipping and tramp shipping. The cost concept in the tramp shipping – the type of shipping which mainly captures the world, especially in circumstances where competition is intense- is quite effective for ship management. The reason for the affordability of tramp shipping costs is that tramp vessels sail to the place of the cargo and the last cargo sets the next destination. Because the vessels in Tramp Shipping are sailing to the place of the cargo and the last cargo defines the next destination. This brings about an intense competition among tramp vessels. Therefore, ship owners should adopt a cost oriented management approach in terms of sustainability. In other words; the vessel should be appropriate for the cargo, and the cargo should be appropriate for the vessel. In this study, commercial transport capacity and unit voyage costs were calculated, by using the real values of a 61461 DWT bulk cargo vessel. Data set used in this study consists of official figures, which were taken from the operator company. As a result; under certain conditions, the commercial capacity of the vessel is calculated as 60448, 73 tones and the unit voyage costs are calculated as 17, 70 USD/ton. Index Terms— Cost analyses, Maritime transportation, Voyage