스테인레스 케미컬탱커선의 최적 선형에 관한 연구

Abstract

Abstract

Since the financial crisis, New IMO regulations will be another challenge for shipping companies. Shipping companies will be under financial pressure due to the one-off costs incurred in installing ballast water treatment systems. Although some chemical tankers will be equipped with scrubbers before 2020, most chemical tankers will be forced to use expensive fuels when IMO 2020 sulfur dioxide emissions regulations are implemented, which will further deteriorate shipping companies’ profitability. Furthermore, it is hard to find any positive reason that the profitability will recover in the near future. Currently, in order to survive, shipping companies need to operate their vessels more efficiently. In this context, the study aims to analyze the net profits of five stainless steel chemical tankers and find out optimal ship size to help decision making of shipping companies.

For this purpose, this study set the freight rate sections based on the average spot tariff for the Middle East-Far East routes, and calculated the net profit by analyzing the maximum shipping capacity and cost accordingly. In addition, the optimal ship size was derived from the scenario analysis reflecting the market situations.

The conclusions drawn from this study are as follows.

The variation of bunker ratio and shipment ratio affected the optimal ship size but the impact of changes in interest rates was insignificant. It is found that net profit is generated when the ships with DWT 11,000MT or more are applied to Al Jubail Port- Ulsan Port. Therefore, DWT 8,406 and DWT 9,104 vessels turn out not to be competitive, while DWT 12,495, DWT 17,427 and DWT 19,998 vessels are competitive. In addition, it is revealed that if the shipping capacity is set as 11,000 ~ 20,000MT, the ships having the same or similar DWT with the shipping capacity will be optimal; if the shipping capacity is set as more than 20,000MT, DWT 19,998 ships will be optimal due to economies of scale.

KEY WORDS : Stainless Chemical Tanker, Net Profit, Optimal Ship Size