Technical changes and impacts on economic performance of dry bulk vessels

Spurred by the expanding bulk shipping and technological innovations, dry bulk vessels have gained considerable development in ship types, ship design, and operation since the invention of the first specialized dry bulk carrier in the early 1950s. However, questions like: what changes in technical specifications have occurred for dry bulk vessels during the past four decades; what triggered these changes and what impacts have these specific changes had on shipping costs or earnings potential, have never been examined systematically in previous work. Subsequently, this article attempts to investigate changes in main technical specifications and relationships between the main technical variables and their economic performance measured by costs and revenues of dry bulk carriers. Technical changes in speed, deadweight, lightweight, and engines are checked for the main types of dry bulk vessels, and trends revealed in these developments are demonstrated to be the consequences of both technical improvement and economical considerations. Additionally, it has been found that the earnings potential differs much from dry bulk vessels with different technical specifications. This can be manifested in the sensitivity analysis. The analysis of this article may contain useful information to practitioners of dry bulk shipping in guiding their market decisions about ship building and operations.     

Transaction Costs in Transport Public–Private Partnerships: Comparing Procurement Procedures

Abstract

In recent years, concern has grown over good practices in the procurement process in public–private partnerships (PPPs). The consensus view is that PPPs are prone to higher transaction costs than traditional public provision. In this paper, we contrast the hypothesis that transaction costs in transport PPPs depend, to a large extent, on the procurement mechanism used in each case, comparing the Negotiated and the Open procedures. Given that PPPs may offer considerable benefits and significant savings over the entire life cycle of the project, it is essential for PPPs to minimize those costs that undermine efficiency gains and that deter private involvement. The quantitative analysis undertaken in this paper highlights that there is room for important savings in the tendering of PPP transport infrastructure projects, using an Open procedure.     

Multi-period Research Designs for Identifying Causal Effects of Built Environment Characteristics on Travel Behaviour

Abstract

To date, most empirical studies have applied cross-sectional designs to investigate the relationship between the built environment (BE) and travel behaviour (TB). Since these studies cannot identify causal influence, the use of designs that provide data on multiple moments in time seems necessary. This article classifies these designs and describes how they can be applied to identify causality in this relationship. We recommend the use of natural experiments to assess the impact of changes in land use/infrastructure and prospective longitudinal designs to assess the impact of residential or job moves. In addition, the role of the BE can be explored by assessing the impact of (1) deliberate TB change experiments and (2) changes in household circumstances across different spatial contexts over time. The use of randomised experimental designs is recommended for the former and prospective longitudinal designs for the latter. The article concludes with an outlook on future research.     

Corporatisation and Performance: A Literature Review and an Analysis of the Performance Effects of the Corporatisation of Port of Rotterdam Authority

Abstract

The ongoing process of port reform has led to an increasing number of publicly owned but corporatised port authorities (PAs). The performance effects of corporatisation have been analysed, for example, for the airports industry, often showing positive effects. This paper reviews the literature on port reform and the relationship between port governance structures and performance. It also presents a first case study on the effects of corporatisation of PAs, namely for the Port of Rotterdam Authority, a publicly owned but corporatised port development company. In 2004, this organisation was transformed from a municipal department to an independently operating company. The performance indicators to evaluate the effect of this corporatisation include market share, turnover, operating costs, profits, and investments. These indicators are evaluated for two periods, one prior to the corporatisation (1997–2003) and the other afterwards (2005–11). The comparison of these two periods shows that corporatisation has led to significant improvements of all performance indicators. The findings derived from this case study are relevant for the ongoing discussion on port governance models.     

How to turn an innovative concept into a success? An application to seaport-related innovation

The main objective of this paper is ‘to assess the conditions, including policy support, under which innovative concepts have a high chance of getting adopted and being successful’. The work will start from the state-of-the-art with the following goals targeted. Firstly, to identify the paths that new innovative concepts usually follow, what key determinants are, which actors are involved, and what policy has been doing and can do. As part of this, a typology of variables is established, which will be the basis for the identification of successful adoption paths. Illustrations are provided of the performance of different innovative concepts in the seaport sector. A further goal is to propose policy recommendations, identify best practices, barriers to implementation and transferability of innovative concepts and processes. Finally, the research establishes developments needed in assessment methods and a methodological framework if innovative concepts are introduced.     

Preference Heterogeneity and Willingness to Pay for Travel Time Savings

We examined different model specifications to detect the presence of preference heterogeneity in a mode choice context. The specification that worked best allows for both systematic and random variations in tastes, with parameters obtained at the individual level using Bayesian methods. Subjective values of travel time (SVT) and expected individual compensated variation were derived and aggregated to obtain measures of social welfare. Results suggest that the benefit measures, both at the individual and at the social level, are sensitive to preference heterogeneity assumptions. SVT and welfare changes derived from travel time reductions could be underestimated if the traditional assumption of taste homogeneity is made (we detected differences up to 30% in both types of measures). We also obtained an empirical value for the error made when evaluating changes in social welfare using an approximation of the expected individual compensated variation (expressed as a function of individual SVT) rather than its exact expression.     

Experimental investigations on continuous regenerative anti-lock braking system of full electric vehicle

Functions of anti-lock braking for full electric vehicles (EV) with individually controlled wheel drive can be realized through conventional brake system actuating friction brakes and regenerative brake system actuating electric motors. To analyze advantages and limitations of both variants of anti-lock braking systems (ABS), the presented study introduces results of experimental investigations obtained from proving ground tests of all-wheel drive EV. The brake performance is assessed for three different configurations: hydraulic ABS; regenerative ABS only on the front axle; blended hydraulic and regenerative ABS on the front axle and hydraulic ABS on the rear axle. The hydraulic ABS is based on a rule-based controller, and the continuous regenerative ABS uses the gain-scheduled proportional-integral direct slip control with feedforward and feedback control parts. The results of tests on low-friction road surface demonstrated that all the ABS configurations guarantee considerable reduction of the brake distance compared to the vehicle without ABS. In addition, braking manoeuvres with the regenerative ABS are characterized by accurate tracking of the reference wheel slip that results in less oscillatory time profile of the vehicle deceleration and, as consequence, in better driving comfort. The results of the presented experimental investigations can be used in the process of selection of ABS architecture for upcoming generations of full electric vehicles with individual wheel drive.     

Analyzing time sensitivity to discomfort in the Paris subway: an interval data model approach

We analyze individual travel discomfort-time tradeoffs in the Paris subway using stated choice experiments. The survey design allows to set up in a willingness-to-pay space to estimate the distributions of elasticities of values of travel time to crowd density and time multipliers. Several formulations of a generalized travel cost function are tested. Accounting for heterogeneity in preferences, the econometric models all take the form of an ordered probit with known bounds. We derive several estimates that could be used for fine-tuning of traffic simulation systems and more general transportation policy analysis.     

Transit service quality analysis using cluster analysis and decision trees: a step forward to personalized marketing in public transportation

A transit service quality study based on cluster analysis was performed to extract detailed customer profiles sharing similar appraisals concerning the service. This approach made it possible to detect specific requirements and needs regarding the quality of service and to personalize the marketing strategy. Data from various customer satisfaction surveys conducted by the Transport Consortium of Granada (Spain) were analyzed to distinguish these groups; a decision tree methodology was used to identify the most important service quality attributes influencing passengers’ overall evaluations. Cluster analysis identified four groups of passengers. Comparisons using decision trees among the overall sample of all users and the different groups of passengers identified by cluster analysis led to the discovery of differences in the key attributes encompassed by perceived quality.     

Multi-agent model predictive control of signaling split in urban traffic networks

The operation of large dynamic systems such as urban traffic networks remains a challenge in control engineering to a great extent due to their sheer size, intrinsic complexity, and nonlinear behavior. Recently, control engineers have looked for unconventional means for modeling and control of complex dynamic systems, in particular the technology of multi-agent systems whose appeal stems from their composite nature, flexibility, and scalability. This paper contributes to this evolving technology by proposing a framework for multi-agent control of linear dynamic systems, which decomposes a centralized model predictive control problem into a network of coupled, but small sub-problems that are solved by the distributed agents. Theoretical results ensure convergence of the distributed iterations to a globally optimal solution. The framework is applied to the signaling split control of traffic networks. Experiments conducted with simulation software indicate that the multi-agent framework attains performance comparable to conventional control. The main advantages of the multi-agent framework are its graceful extension and localized reconfiguration, which require adjustments only in the control strategies of the agents in the vicinity.