ECONOMICS OF GREAT LAKES SHIPPING IN AN EXTENDED SEASON

This paper is based on a continuing study (for the Maritime Administration) of the costs and benefits to Great Lakes shipowners arising from winter navigation. Work accomplished to date includes the development of a general economic model for a wide range of ship designs and operating methods. This model has been programmed for a computer and is accessible to shipowners and others with legitimate interests. Sample studies illustrate the use of the model and show the economic impact of changes in key design parameters and operating strategies. Additional techniques have been developed for optimizing operating plans for an individual fleet and for assessing the benefits of reduced stockpiling. Some overall conclusions are presented, together with suggestions for profitable lines of continuing development.