The economics of double-hulled tankers

R. S. Brown, I. Savage

Research output: Contribution to journalArticle

29 Scopus citations

Abstract

A cost-benefit analysis is conducted on the double-hull requirements for oil tankers in United States' waters contained in the U.S. Oil Pollution Act of 1990. The benefits of reduced spillage are compared with the increased construction and operations costs of double-hulled vessels. In the most probable scanario, the expected benefits are only 20% of the expected costs. Double-hulls do not even show a positive net present value with the most favorable assumptions. Even if double-hulls prevent all of the spillage that occurs due to collisions and groundings, and that the damage per gallon spilled is as extensive as in the ‘Exxon Valdez’ incident, the benefits are under half of the costs.

Original languageEnglish (US)
Pages (from-to)167-175
Number of pages9
JournalMaritime Policy and Management
Volume23
Issue number2
DOIs
StatePublished - Jan 1 1996

ASJC Scopus subject areas

  • Geography, Planning and Development
  • Transportation
  • Ocean Engineering
  • Management, Monitoring, Policy and Law

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