Risk analysis of vessel traffic systems

A risk analysis approach to the capital planning of vessel traffic services (VTS) is embedded within the benefit-cost methodology. The method is discussed in the Canadian context, but has already been used to plan the Hong Kong VTS system. Recently, in response to the Exxon Valdez oil spill, the US Congress asked for a study of the requirements for VTS systems in American ports and waterways, and the US Coast Guard chose to apply our risk analysis approach to their study.