The purpose of this paper is to introduce an innovative methodology in shipping investment evaluation based on simulation of a project cash flow. It concerns a complementary approach to current practices and its aim i...The purpose of this paper is to introduce an innovative methodology in shipping investment evaluation based on simulation of a project cash flow. It concerns a complementary approach to current practices and its aim is to provide more information mainly to ship-owners that consider the feasibility of deploying Ro-Ro Passenger ferries. The paper examines a typical semi-conventional RoPax ferry operating in the Aegean Sea. It addresses important economic, operational and procedural issues concerning risk evaluation. The current status is that risk is a notion still strange to main stakeholders. The Greek practice in performing a feasibility study for a project draws on investor＇s experience and feeling aided by a preliminary economic study. The main thesis of this paper is that there are alternative techniques to evaluate investment risk and measure profitability of a project. A Monte Carlo simulation in collaboration with a typical Ro-Ro cash-flow model is implemented to reveal the extent of risk and provide a useful tool for the assessment of future investments in Greek Short Sea Shipping.展开更多
文摘The purpose of this paper is to introduce an innovative methodology in shipping investment evaluation based on simulation of a project cash flow. It concerns a complementary approach to current practices and its aim is to provide more information mainly to ship-owners that consider the feasibility of deploying Ro-Ro Passenger ferries. The paper examines a typical semi-conventional RoPax ferry operating in the Aegean Sea. It addresses important economic, operational and procedural issues concerning risk evaluation. The current status is that risk is a notion still strange to main stakeholders. The Greek practice in performing a feasibility study for a project draws on investor＇s experience and feeling aided by a preliminary economic study. The main thesis of this paper is that there are alternative techniques to evaluate investment risk and measure profitability of a project. A Monte Carlo simulation in collaboration with a typical Ro-Ro cash-flow model is implemented to reveal the extent of risk and provide a useful tool for the assessment of future investments in Greek Short Sea Shipping.
