Economics of Merchant Ships

A generalized criterion for measuring economic effectiveness, the total present worth of both invested costs and future returns was given as a extension of Benford's paper (1963). A block diagram was constructed that quickly shows the logical aspects of the process of comparing ships of different types, sizes, speeds and power plants in order to judge their relative merits from a commercial standpoint. Numerical calculations were also made for oil tankers ranging from about 20, 000 tons to 100, 000 tons in dead weight and 12 knots to 21 knots in sea speed.