Business Commons^™

Costs Associated With Voluntary Speed Reduction Requests In Central California Marine Sanctuaries To Protect Endangered Whales, K. Eric Wolfe, Ian A. Mathis

Journal of Ocean and Coastal Economics

International trade is vital to the U.S. economy. As waterborne traffic accounts for about 40 percent of all international cargo value and 70 percent of international tonnage, regulatory changes involving waterborne transportation may significantly impact the United States (US) economy on both local and national levels. A Voluntary Speed Reduction (VSR) program reduces vessel speeds off the central coast of California for vessels 300 gross tons and larger from May 1^st to November 15^th to protect whales and other marine mammals. This study investigates the magnitude of changes in vessel costs associated with VSR requests.

This analysis contributes …

Gross Benefit Estimates From Reductions In Allisions, Collisions And Groundings Due To Electronic Navigational Charts, Eric Wolfe, Percy Pacheco

Journal of Ocean and Coastal Economics

Nautical charts are a fundamental tool of marine navigation. Critical information provides for safe and efficient use of our waterways and for protection of our marine environment. NOAA nautical charts developed by the Office of Coast Survey (OCS) are mandatory on commercial ships that carry America’s foreign commerce. NOAA’s charts are also used on every Navy and Coast Guard ship, fishing and passenger vessels, and are widely carried by recreational boaters. They directly support NOAA’s goal to “promote safe navigation” and the Department of Commerce’s goal of promoting U.S. competitiveness in the global marketplace. Data from the Physical Oceanographic Real-Time …

Investing In The New Blue Economy: The Changing Role Of International Development Organizations In Catalyzing Private Sector Investment In Support Of Regional Strategic Action Programmes For The Sustainable Development Of Coasts And Oceans, Ryan Whisnant, Veerle Vandeweerd

Journal of Ocean and Coastal Economics

Over the last 20 years, governments sharing common coastal and ocean ecosystems have developed and agreed on concrete regional action programs to stop and, in some cases, reverse a trend of deteriorating coastal and ocean resources. Implementation of these action programs requires significant investments by the public and private sectors alike, with the potential for substantial economic growth and enhanced social well-being. For this to happen, new institutional arrangements, technologies, and financial vehicles and asset classes are needed to mainstream innovative “blue economy” projects that have the potential to transition economies and communities to more sustainable development paths.

This paper …

Port Performance From A Policy Perspective – A Systematic Review Of The Literature, Eamonn Oconnor, Natasha Evers Dr., Amaya Vega

Journal of Ocean and Coastal Economics

Owing to their diverse functionality, seaports as entities produce a mix of private and public goods that have significant welfare implications for the regions they serve. In effect, performance in seaports can be viewed as multi-dimensional. When forming policy that affects multiple stakeholders it is therefore desirable to measure performance across all relevant dimensions, as they are likely to have differing effects on concerned stakeholders. The objective of this study is to conduct a systematic literature review of published studies on seaport performance measurement to identify, critically evaluate and integrate the various dimensions of seaport performance measurement. A review of …

Allisions, Collisions And Groundings: Estimating The Impact Of The Physical Oceanographic Real Time System (Ports(R)) On Accident Reduction, Eric Wolfe, Kenneth N. Mitchell

Journal of Ocean and Coastal Economics

Reductions in the rates of domestic allisions, collisions and groundings (ACGs) are the result of technological advances as well as implementation of best practices in the maritime industry. This study estimates long-term gross benefits derived from expanded implementation of the National Oceanic and Atmospheric Administration’s Physical Oceanographic Real-Time System (PORTS®) with respect to reductions in ACG rates in the United States. Following PORTS® installations that provided expanded coverage of U.S. ports and adjoining areas, concomitant decreases in accident rates occurred. While previous estimates suggested that between twenty and sixty percent of grounding accident reductions were due to PORTS®, current research …

A Valuation Analysis Of The Physical Oceanographic Real Time System (Ports), K. Eric Wolfe, David Macfarland

Journal of Ocean and Coastal Economics

This analysis estimates several economic benefits derived from national implementation of the National Oceanic and Atmospheric Administration’s Physical Oceanographic Real-Time System (PORTS®) at the 175 largest ports in the United States. Significant benefits were observed owing to: (1) lower commercial marine accident rates and resultant reductions in morbidity, mortality and property damage; (2) reduced pollution remediation costs; and, (3) increased productivity associated with operation of more fully loaded commercial vessels. Evidence also suggested additional benefits from heightened commercial and recreational fish catch and diminished recreational boating accidents. Annual gross benefits from 58 current PORTS® locations exceeded $217 million with an …