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An Investigation on the Optimal Ship Size for Chemical Tankers by Main Shipping Routes
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 Title & Authors
An Investigation on the Optimal Ship Size for Chemical Tankers by Main Shipping Routes
Kim, Jae-Ho; Kim, Taek-Won; Woo, Su-Han;
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This study objects to find characteristics in chemical tanker markets and to determine optimal chemical tanker size using a total shipping cost in main trading route of asia chemical tankers .Precedent studies of determination of the optimal ship size and case studies about chemical tankers was carried out and tried to introduce a cost model which is applicable to chemical tanker. This study is dependant on numerical analysis and involves scenario analysis to minimize sensitivity of results. This analysis shows as follows. First, 12,000DWT tanker is an optimal size on the `Far East-Middle East` services, 9,000DWT tanker is a most competitive on the `Far East-South East Asia` services and 3,000DWT tanker is a most economic size on the `Inner Far East` services at average market situation. Second, the bigger size of chemical tanker, the more competitive advantage the tanker will obtain when bunker fuel prices rise. Small size ship gets more competitive during bunker prices down. Third, market fluctuation of time charter rate for chemical tanker is less than 20% against its average time charter hire which means less volatile. And tanker`s competitiveness per each size is remained mostly same when time charterer rates rise at same proportion. Fourth, bigger size chemical tankers have cost advantages when tanker`s quantity of each part cargo increase. And small-sized tanks are more competitive when part cargo scales decrease. For the last, ship`s port stay strongly influences on the determination of the optical tanker size. When vessel has shorter port stay, bigger-sized tanker will be more competitive and even can be competitive if applies in short voyage as well.
Chemical tanker;Optimal ship size;Total shipping cost;Main trading routes;Numerical Analysis;Scenario analysis;
 Cited by
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