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Economic Models for Shipping Services

Economic Models for Shipping Services. J.F. Hillmann HILLMANN Maritime, Inc. 25 October 2001. Introduction. Objective Approach. Topics for Discussion. The RFR Model The NPV Model Design Optimization Models. The RFR Model. Driven by costs Time independent

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Economic Models for Shipping Services

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  1. Economic Models for Shipping Services J.F. Hillmann HILLMANN Maritime, Inc. 25 October 2001

  2. Introduction Objective Approach HILLMANN Maritime, Inc.

  3. Topics for Discussion The RFR Model The NPV Model Design Optimization Models HILLMANN Maritime, Inc.

  4. The RFR Model Driven by costs Time independent Integrates investment and operating costs Output: unit freight rate HILLMANN Maritime, Inc.

  5. The RFR Model (Continued) Capital Costs Fixed Operating Costs Variable Operating Costs Bare Boat Charter Rate Time Charter Rate Voyage Charter Rate HILLMANN Maritime, Inc.

  6. The NPV Model Driven by market factors Time dependent Integrates all costs throughout the ship’s life cycle Output: net present value based on discounted cash flows HILLMANN Maritime, Inc.

  7. The NPV Model (Continued) HILLMANN Maritime, Inc.

  8. DesignOptimization Models Driven by requirements Proposed approach Application Future development HILLMANN Maritime, Inc.

  9. DesignOptimization Models (Continued) HILLMANN Maritime, Inc.

  10. DesignOptimization Models (Continued) Revised industry data RFR model framework HILLMANN Maritime, Inc.

  11. Sensitivity An important part of model-building Identify key variables Point the way to design development HILLMANN Maritime, Inc.

  12. Summary Economic models are a vital element in the development of commercial shipping systems An appreciation of the capabilities and characteristics of these models is important to the design process HILLMANN Maritime, Inc.

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