Cost Benefit Analysis of Inert Gas Systems for Chemical and Product Tankers

2009 ◽  
Author(s):  
Martyn Thomas ◽  
Rolf Skjong
Keyword(s):  
Cost Effectiveness ◽  
Cost Benefit Analysis ◽  
Cost Benefit ◽  
Inert Gas ◽  
Real Risk ◽  
Formal Safety Assessment ◽  
Potential Loss ◽  
The Cost ◽  
Oil Tankers ◽  
Potential Pollution

This paper details the work carried out to complete a Formal Safety Assessment (FSA) to assess the effectiveness of inert gas systems (IGS) in reducing the risk associated with cargo tank fire and explosions on chemical and oil tankers <20,000dwt. Two different IGSs are considered; N2 for chemical tankers and conventional oil burning type for oil tankers. N2 IGS is required on chemical tankers to preserve the quality of the chemicals transported on these ships. These IGS systems are evaluated with Cost Benefit Assessments (CBA) to ascertain their cost effectiveness with regards to reducing potential loss of life, potential loss of cargo, potential pollution and potential loss of property. In this respect, the Gross Cost of Averting a Fatality (GCAF) and Net Cost of Averting a Fatality (NCAF) are calculated using the standard FSA method recognized by the International Maritime Organization (IMO). Further, the Cost of Averting one Tonne of oil Spilled (CATS) (Skjong et al., 2005 & Vanem et al., 2008) is applied to understand the cost effectiveness of IGSs in preventing environmental pollution. The risk reduction is estimated from detailed considerations of the accident statistics for tankers >20,000dwt, where mandatory requirements for IGS was introduced in 1990. Comparison was made on risks resulting from accidents involving fire and/or explosion in the cargo tank of tankers of >20,000dwt for the period of 1978–1983, in which most such tankers were not provided with IGS; and for the period 1990–2005, in which all such tankers were provided with IGSs under the requirement of SOLAS Chapter II-2. The paper further assumes that tankers <20,000dwt that carry cargo with flashpoint <60°C should have IGS installed, whilst ships without IGS may continue carrying cargo with flashpoint >60°C. This way the question of requiring IGS is answered based on real risk of fire and explosion, and avoid introducing a rather arbitrary limit based on size of the ships.

Study of Nanjing Demand Side Management Based on Cost-Benefit Analysis - Take Green Lighting as an Example

2015 ◽  
Vol 737 ◽  
pp. 260-268
Author(s):  
Qiu Hua Liu ◽  
Kun Xu ◽  
Hao Min Wang
Keyword(s):  
Cost Effectiveness ◽  
Electric Power ◽  
Development Strategy ◽  
Power Supply ◽  
Cost Benefit Analysis ◽  
Cost Benefit ◽  
Demand Side Management ◽  
Demand Side ◽  
Electric Power Supply ◽  
The Cost

Electric power supply is one of the most important aspects of China’s national energy development strategy (NEDS). As major economic unit as well as major energy consumer, Jiangsu province is facing serious energy supply challenges. Under such circumstances, positive actions are taken by local government in respond to NEDS which put energy saving in the first place, and demand side management (DSM) is implemented. DSM is an important measure which can release rush hour electric supply pressure, enhance energy efficiency, optimize electric power utilization, and it is beneficial for sustainable development. This paper is based on the analysis of the current DSM situation of Nanjing, and green lighting is taken as an example. An empirical analysis is given to cost-effectiveness of the implementation of green lighting. Finally, the conclusion that the cost-effectiveness of the implementation of green lighting is economically viable to power supply companies, electric customers and the whole society is drawn.

scholarly journals Systematic Review of the Economic Evaluation of Returning Incidental Findings in Genomic Research

2021 ◽  
Vol 9 ◽  
Author(s):  
Mayara Fontes Marx ◽  
John E. Ataguba ◽  
Jantina de Vries ◽  
Ambroise Wonkam
Keyword(s):  
Economic Evaluation ◽  
Cost Effectiveness ◽  
Cost Analysis ◽  
Incidental Findings ◽  
Cost Benefit Analysis ◽  
Cost Benefit ◽  
Cost Utility ◽  
Genomic Sequencing ◽  
Benefit Analysis ◽  
The Cost

Objectives: Discussions regarding who and how incidental findings (IFs) should be returned and the ethics behind returning IFs have increased dramatically over the years. However, information on the cost and benefits of returning IFs to patients remains scanty.Design: This study systematically reviews the economic evaluation of returning IFs in genomic sequencing. We searched for published articles on the cost-effectiveness, cost-benefit, and cost-utility of IFs in Medline, Scopus, PubMed, and Google Scholar.Results: We found six published articles that met the eligibility criteria of this study. Two articles used cost analysis only, one used cost-benefit analysis only, two used both cost analysis and cost-effectiveness, and one used both cost-benefit analysis and cost-utility to describe the cost of returning IFs in genomic sequencing.Conclusion: While individuals value the IF results and are willing to pay for them, the cost of returning IFs depends on the primary health condition of the patient. Although patients were willing to pay, there was no clear evidence that returning IFs might be cost-effective. More rigorous economic evaluation studies of IFs are needed to determine whether or not the cost of returning IFs is beneficial to the patient.

Is-it worth investing in NBS aiming at mitigating water risks? Insights from the economic assessment of NAIAD case studies

2020 ◽  
Author(s):  
Philippe Le Coent ◽  
Cécile Herivaux ◽  
Javier Calatrava ◽  
Roxane Marchal ◽  
David Mouncoulon ◽  
...  
Keyword(s):  
Risk Management ◽  
Cost Effectiveness ◽  
Case Studies ◽  
Economic Efficiency ◽  
Cost Benefit Analysis ◽  
Cost Benefit ◽  
Economic Assessment ◽  
Physical Models ◽  
Valuation Methods ◽  
The Cost

<p>The economic advantage of NBS solutions aiming at mitigating water-risk is widely put forward as an argument for their development. There is nevertheless limited scientific evidence to support this argument. This paper therefore elaborates a methodological framework for the economic assessment of NBS and presents its application to three NAIAD case studies (the Lez catchment, France; Rotterdam, the Netherlands and Brague catchment, France). Robust methods are particularly applied for the estimation of the benefits associated with NBS. Physical models coupled with damage estimation models are developed to estimate the avoided damages generated by NBS. A diversity of ecosystem service valuation methods are also applied to evaluate the monetary value of NBS co-benefits: contingent valuation (Brague), choice experiment (Lez) and direct valuation methods (Rotterdam). We estimate the cost of implementation and maintenance mainly through the transfer of values coming from studies in similar contexts. Proxies are used to estimate the opportunity costs associated with the development of NBS. Finally, these estimations are compiled in a cost-benefit indicator allowing the estimation of the economic efficiency of NBS strategies. The study confirms that the cost of implementation and maintenance of NBS strategies is lower than the cost of grey solutions for the same level of water risk management, emphasizing the better cost-effectiveness of these solutions. Benefits in terms of avoided damages are however not sufficient to cover investment and maintenance costs. The cost–effectiveness of NBS strategies, which are combinations of individual NBS measures, may be improved by combining cost effective individual NBS measures. There is indeed a very large heterogeneity of cost-effectiveness of individual NBS measures (cost/m<sup>3</sup> of water retention). Results also reveal that co-benefits represent the largest share of the value generated by NBS strategies. It is therefore of utmost importance that co-benefits are integrated in the economic valuation of NBS for them to be judged economically efficient. This conclusion must be taken into account in the elaboration of NBS funding strategies.There is finally no clear-cut conclusion on the overall economic efficiency of NBS throughout the case studies. Lez reveal a positive cost-benefit analysis, while Rotterdam and Brague cases do not. Results are therefore case-specific and confirm the importance to carry out thorough economic valuations of a diversity of strategies at each sites, including NBS, grey and hybrid solutions, in order to identify the most adequate strategy for water risk management and to address territorial challenges.</p>

Economic Evaluation of Hypertension Treatment

1992 ◽  
Vol 8 (3) ◽  
pp. 506-523 ◽  
Author(s):  
Magnus Johannesson
Keyword(s):  
Cost Effectiveness ◽  
Cost Benefit Analysis ◽  
Reliability And Validity ◽  
Cost Benefit ◽  
Computer Simulation Model ◽  
Benefit Analysis ◽  
Effectiveness Analysis ◽  
Highly Sensitive ◽  
Therapy Cost ◽  
The Cost

AbstractA computer simulation model shows that the cost-effectiveness of treating hypertension is highly sensitive to different assumptions about the effectiveness of treatment, the outcome measure, the cost concept, the discounting of effects, and the duration of therapy. Cost-effectiveness analysis should be supplemented by another approach–cost-benefit analysis based on the contingent valuation (CV) method (the measurement, by survey, of willingness to pay). The CV method is tested in two empirical applications that indicate that it is possible to use the method in this area. Its results should be interpreted with caution, however, since the reliability and validity of the method is not yet established.

scholarly journals Investigation of a Magnetic-Type Waterproof Oil Spill Stop Device for Ships

2020 ◽  
Vol 8 (9) ◽  
pp. 636
Author(s):  
Chong-Ju Chae
Keyword(s):  
Oil Spills ◽  
Marine Pollution ◽  
Cost Benefit Analysis ◽  
Water Pressure ◽  
Cost Benefit ◽  
Cost Effective ◽  
Minimum Diameter ◽  
Formal Safety Assessment ◽  
Magnetic Type ◽  
The Cost

If a ship’s hull or tank breaks, the ship may sink, or oil spills can cause enormous damage to the environment. If the ship is equipped with a capable, cost-effective oil or liquid flow stop emergency device, casualties and marine pollution could be reduced. Many magnetic-type liquid spill stop emergency devices developed since 1904 have limitations, such as difficulties with installation and impossibility of use during sailing. This study demonstrated the applicability of a magnetic-type liquid spill stop emergency device through tests for water pressure and leakage, attachment, magnetic fields, and the generation of sparks. Results showed that the device can be applied to the ship’s side hull and bottom with a specified minimum diameter at a pressure depth of 1.0 kg/cm2 while sailing at a speed of 18 kts (9.26 m/s). If the distance from the device was at least approximately 750 mm, the magnetic field had no effect, and there was no risk of explosion due to sparks. A cost–benefit analysis based on the International Maritime Organization-approved guidelines for formal safety assessment confirmed the cost effectiveness of the device. This experimental study confirmed that the magnetic liquid stop emergency device is generally applicable to a ship’s hull.

scholarly journals Analysis of the Cost Effectiveness of a Suicide Barrier on the Golden Gate Bridge

Crisis ◽  
2013 ◽  
Vol 34 (2) ◽  
pp. 98-106 ◽  
Author(s):  
Dayna Atkins Whitmer ◽  
David Lauren Woods
Keyword(s):  
Cost Effectiveness ◽  
San Francisco ◽  
Cost Benefit Analysis ◽  
Cost Benefit ◽  
Cost Effective ◽  
Alternative Methods ◽  
Suicide Mortality ◽  
Golden Gate ◽  
Golden Gate Bridge ◽  
The Cost

Background: The Golden Gate Bridge (GGB) is a well-known “suicide magnet” and the site of approximately 30 suicides per year. Recently, a suicide barrier was approved to prevent further suicides. Aims: To estimate the cost-effectiveness of the proposed suicide barrier, we compared the proposed costs of the barrier over a 20-year period ($51.6 million) to estimated reductions in mortality. Method: We reviewed San Francisco and Golden Gate Bridge suicides over a 70-year period (1936–2006). We assumed that all suicides prevented by the barrier would attempt suicide with alternative methods and estimated the mortality reduction based on the difference in lethality between GGB jumps and other suicide methods. Cost/benefit analyses utilized estimates of value of statistical life (VSL) used in highway projects. Results: GGB suicides occur at a rate of approximately 30 per year, with a lethality of 98%. Jumping from other structures has an average lethality of 47%. Assuming that unsuccessful suicides eventually committed suicide at previously reported (12–13%) rates, approximately 286 lives would be saved over a 20-year period at an average cost/life of approximately $180,419 i.e., roughly 6% of US Department of Transportation minimal VSL estimate ($3.2 million). Conclusions: Cost-benefit analysis suggests that a suicide barrier on the GGB would result in a highly cost-effective reduction in suicide mortality in the San Francisco Bay Area.

Economic evaluation and priority setting: an overview

2017 ◽  
Author(s):  
Jan Abel Olsen
Keyword(s):  
Economic Evaluation ◽  
Cost Effectiveness ◽  
Cost Benefit Analysis ◽  
Cost Benefit ◽  
Cost Utility ◽  
Economic Evaluations ◽  
Benefit Analysis ◽  
Utility Analysis ◽  
The Cost ◽  
Evaluation Techniques

This chapter provides an overview of the methodologies that come under the umbrella term of economic evaluation in healthcare. Economic evaluations seek to identify, measure, value, and compare alternative programmes. A taxonomy is developed to distinguish economic evaluation techniques depending on whether benefits have been measured in money terms or not, and whether benefits are based on preferences or not. When benefits are measured in money terms, it is referred to as a cost–benefit analysis (CBA). If benefits are measured in health terms, some sort of cost-effectiveness analysis (CEA) is being used. An important class of CEA is what has come to be labelled ‘cost-utility-analysis’ (CUA). The chapter explains the incremental cost-effectiveness ratio (ICER) and illustrates the cost-effectiveness plane. Finally, the idea of discounting health is discussed.

scholarly journals Cost-Benefit Analysis of Electronic Information: A Case Study

1998 ◽  
Vol 59 (6) ◽  
pp. 502-509 ◽  
Author(s):  
Gary W. White ◽  
Gregory A. Crawford
Keyword(s):  
Cost Effectiveness ◽  
Cost Benefit Analysis ◽  
Cost Benefit ◽  
Indirect Costs ◽  
Library Services ◽  
Benefit Analysis ◽  
Potential Benefits ◽  
The Cost ◽  
Insight Into

Library services and products have associated costs, including direct monetary costs and indirect costs such as time. The decision to acquire or provide a particular product or service should involve an examination of its costs and benefits to library customers. One technique for analyzing cost-effectiveness is to perform a cost-benefit analysis (CBA). CBA involves analyzing the benefits, or potential benefits, of offering a product or service and comparing them to the costs of offering that product or service. This article describes a study in which CBA was used to examine the cost-effectiveness of an electronic database. Librarians can use the results of CBA studies to justify budgets and acquisitions and to provide insight into the true costs of providing library services.

Effect of IMO’s environmental criterion on the optimum hull girder safety level

2015 ◽  
Author(s):  
Ângelo P. Teixeira ◽  
Joana P. Guia ◽  
C. Guedes Soares
Keyword(s):  
Structural Reliability ◽  
Cost Benefit Analysis ◽  
Cost Benefit ◽  
Safety Level ◽  
Hull Girder ◽  
Formal Safety Assessment ◽  
Recent Developments ◽  
Assessment Guidelines ◽  
Definition Of ◽  
The Cost

This study aims at assessing the optimum hull girder safety level of a Suezmax tanker using a cost benefit analysis (CBA), as proposed by the FSA (Formal Safety Assessment) Guidelines. The objective is to establish an optimum safety level for the tanker ship, considering as a risk control option (RCO) the change in deck scantlings and to assess its effect on the reduction of risk (reduction on total expected cost of hull girder failure). This involves the evaluation of the effect of the RCO on the probability of failure of the ship hull girder assessed by means of structural reliability analysis and the assessment of the cost of failure in terms of property damage of the ship, pollution due to spillage of oil and loss of life of the ship’s crew. Due to the recent developments in environmental criteria at the IMO level, special attention is given to the influence of the environmental criterion in the optimum safety level, as such two approaches are followed in the definition of this input variable: a “Cost of Averting a Ton of oil Spilt” (CATS) and a volume dependent approach for the cost per ton of oil spilt agreed and included in the annex 7 of the revised IMO FSA Guidelines.

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