Traditionally, equipment selection is weighted toward fulfilling the contractual requirements agreed to in the shipbuilding specification. Bollard pull and sea trial speed are examples of this. For today’s common vessel types we find that this design criterion often defines the entire equipment selection and at the same time only represents a fraction of the operational time for the vessel. A harbor tug is a good example — it will spend, typically, only a small percentage of its operating time in bollard pull conditions. Similarly, a cargo vessel is not likely to be crossing the Atlantic at sea trial speed. Ultimately, what this does is base equipment selection on a condition where the vessel spends only a fraction of its operational time.
Is this condition-based equipment selection the best choice or are there other conditions of considerable importance to look at for alternative equipment setups?
This paper examines the merit of value-based equipment selection in detail.