Panel O-36 addresses a wide range of topics related to maritime economics. These include:
Furthermore, the panel addresses issues that concern the interrelationship between the markets for vessels and those for transportation. The panel also examines the decision-making process incorporating economic constraints that limit monetary and non-monetary resources.
Broadly speaking, the panel undertakes three types of investigations: market studies, cost analyses and optimization studies.
Market studies address the behavior of the markets for ships and for the services that ships provide, e.g., transportation of goods and people. This includes topics such as the following:
Market studies tend to be information driven, and when properly executed, to provide a macro-economic picture of market behavior and performance over time. Particularly in an era of increasingly commercial emphasis within the U.S. maritime industry, market studies are becoming increasing important.
Cost Analyses concern the processes by which the investment and operating costs of a system can be evaluated or predicted. These may include:
The development and intelligent application of cost analyses are necessary and central to the success of any industrial activity. This subject becomes particularly complex when ships and shipping activities are involved.
Optimization Studies involve choices: the processes by which ship designs, projects, and other specific operations are measured against specific criteria. We also include in this category other methods and processes for making choices or decisions, such as:
These processes and techniques can be applied to a broad variety of maritime activities, including but not limited to vessel operations. This topic area tends to be micro-economic in scope, in that it is focussed on a single unit, project, or enterprise.
Panel O-36 performs three principal functions. First, Panel O-36 is the source and repository within the SNAME T&R structure for both historical and current information on economics related to the maritime industry. In this context, Panel O-36 serves as a contributor to any other Society or T&R activity that requires information or a contribution in this field. In addition, published reports on subjects within the area of maritime economics are an objective of this Panel.
Second, Panel O-36 is a forum for the exchange of information on maritime economics. Attendance at Panel O-36 meetings provides opportunities for market analysts, system designers, and cost engineers to interact, exchange information on current activities and projects, and generally to support and encourage the practice of maritime economics within the maritime industry.
Finally, Panel O-36 actively cooperates or collaborates with other SNAME Panels on joint projects. For example, the application of sound economic decision-making to technology development projects would be most beneficial. While this type of contribution may not always be welcome, it is increasingly necessary as resources become more limited.
Last Revised: 23 May 2006