Ship service life extension considering ship condition and remaining design life

Reliable and continuous operation of ships is vitally important to the decision-makers. Driven by rising cost newbuilding ships, maintenance actions are needed on existing ensure safe enduring service beyond their initial design life. Extending ship life can provide economic operating profit promote sustainability. Meanwhile, during extended may involve higher failure risk additional expenditure. Therefore, a cost-benefit evaluation imperative for determining optimal duration extension (SLE) associated actions. In this paper, novel method purpose proposed. Two indicators, benefit-cost ratio (BCR) net present value (NPV) used optimize SLE. Using Bayesian updating, information remaining structural condition at SLE decision incorporated into optimization process better inform decision-making. The proposed illustrated fatigue-sensitive very large crude carrier (VLCC) both component system levels.