Journal
BRODOGRADNJA
Volume 70, Issue 3, Pages 153-173Publisher
UNIV ZAGREB FAC MECHANICAL ENGINEERING & NAVAL ARCHITECTURE
DOI: 10.21278/brod70309
Keywords
maritime management; demolition sale; ship management; shipping; decision support tools; fuzzy analytic hierarchy process; scoring guide; actual cases
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The fundamental goal of any business is to create value for its owners. In shipping, the value is not only created with freight income, but also with the trade of the vessel itself. A ship has a limited lifetime and can be traded in different markets. The lowest value it will ever receive is its scrap price. An owner may decide to sell a vessel to scrap due to various reasons together with her physical condition and age. In this paper, a fuzzy Analytic Hierarchy Process based decision model is used to provide practitioners with a decision support tool for demolition sale versus further trading of a vessel. The usage of the tool is further illustrated with five actual cases.
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