Analytical model for the ship purchase and maintenance decision in the new economy

The maritime industry is currently increasing, and the will continue to grow due rapid growth of global economy. business companies bring with them issue vessel renewal repair. To explore impact or repair on company's benefits, we conducted a simulation experiment focusing how company should ensure maximum benefits if needs be repaired. On one hand, operations. other new vessels are purchased replace old ones. According data, Shipping make higher profits by replacing their