COST BENEFIT ANALYSIS MODEL FOR GREAT LAKES BULK CARRIERS OPERATING DURING AN EXTENDED SEASON

The study establishes a widely-applicable procedure for estimating the economic benefits to shipowners from extensions of the Great Lakes operating season. It also attempts to help ship designers optimize the design of ships intended for ice operations. The study attempts no firm conclusions or recommendations as to the best length of operating season or ship design. It weighs the economic costs and benefits to the shipowner and specifically ignores public costs for icebreaker assistance, etc. All reference to the benefits of lessened stockpiling requirements and miscellaneous problems relating to possible shore damage, etc., is omitted. (Author Modified Abstract)