Operational risk management of bulk carriers

The proposed study had been performed behind the premise of proposing a methodology for estimating the current operational risk of bulk carriers. Hence, a high level risk assessment has been conducted for evaluating the safety performance of dry bulk cargo transportation. This included the preparatory step for setting the problem's boundary limits, hazard identification for the prioritization of causes and effects, risk analysis for the quantification of risks and risk evaluation for assessing the significance and the acceptability of the estimated risk. The relevant aspects that are taken into account consist of the vessel's function (carriage of payload), operational phase (ocean transit), external (weather conditions, routeing) and internal (cargoes) influences, accident category (foundering) and the risk associated with crew (fatalities) and property (loss of vessel and cargo). Apparently, many factors were competing for attracting attention, and therefore, the Pareto principle was applied for narrowing the analysis where corrosion was identified as a main situation of causing harm. The attached uncertainty in the aforementioned operational domain is dealt with the Bayesian Networks technology and concurrently the construed prioritization to corrosion is verified by the developed risk model. The estimated risk was found As Low As Reasonably Practicable and the potential of improvement is considered by addressing preventive (design) and mitigating (operational) measures. Furthermore, their effectiveness as action implementing risk management decision is illustrated by employing Life Cycle Cost Analysis, a decision making technique for exploiting different investment opportunities.

Name dc:type.qualificationname

phd

Level dc:type.qualificationlevel

doctoral-pg

Grantor dc:publisher.institution

University of Strathclyde

Year dc:date.issued

2008

Author dc:creator

• Psarros, George Ad

DOI

10.48730/a922-qf49

Identifier

uk.bl.ethos.501677
T12276

OAI identifier oai:identifier

oai:strathclyde:x346d4211