research product . Other ORP type . 2020

Quantification and analysis of risk exposure in the maritime industry: Averted incident costs due to inspections and the effect of SARS-CoV-2 (Covid19)

Knapp, Sabine;
Open Access English
  • Published: 01 Sep 2020
  • Country: Netherlands
Abstract
Shipping facilitates global trade and provides essential services even during global pandemics such as SARS-CoV-2 (Covid19). An improved understanding of the magnitude and change of risk exposure has become more important for all maritime stake holders. The present approach quantifies global and regional risk exposure at ship level expressed as the monetary value at risk (MVR) and measures the amount of averted or mitigated incident costs due to inspections which can maritime stakeholders better understand risk exposure and develop strategies and policies to mitigate risk with improved risk control options such as improved risk profiling. The analysis is based o...
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free text keywords: Risk exposure, monetary value at risk, binary logistic regression, averted incident costs, inspection, effect, port state control inspections
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