Economic Value of the International Ice Patrol.
1997
Pritchett, Clark W.
An approach for estimating the economic value of the International Ice Patrol (IIP) to the shipping interests of a country is developed. The ship routing method that uses IIP products is compared with an approach that uses historical information (climatology) about the iceberg limits. The additional cost of transiting using climatology (compared to IIP routing) is the economic value of the International Ice Patrol for one voyage. An example using a typical US containership is developed to estimate the return on investment to the United States of the economic benefit of IIP to United States shipping. The economic value is a measure that can be used to understand how the International Ice Patrol benefits the shipping interests of a nation and to quantify that benefit.
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