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Operational risk management in maritime transport : tools, trends, methodology and application to dry bulk shipping

Vassalos, Dracos (2009) Operational risk management in maritime transport : tools, trends, methodology and application to dry bulk shipping. In: Operational risk management in maritime transport. LAP Lambert Publishing, Saarbrücken. ISBN 9783838324418

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Abstract

The awareness of risk assessment and management in extension, applied in the decision-making process for the marine industry has increased rapidly over the recent years.Although this scientific and systematic approach is a well developed field within shipping finance, very little academic literature exists to the understanding on applying a risk- informed approach for measuring the operational risk of a ship transiting from an origin to the destination port.Coupling the relationship between vessel performance and risk levels of her operation is one crucial aspect for any associated stakeholder being aware where the residual risks reside.Hence,the main motivation to offer this work into the market is twofold:Firstly the reader is equipped with the fundamental elements of an operational risk management methodology and secondly,an active application running throughout the whole text contributes to its clear demonstration.This book is an essential tool for any professional or academic who wishes to make the difference for acquiring effective skills in implementing risk management strategies in the increasingly sophisticated and competitive maritime environment.