Maritime vessel obsolescence, life cycle cost and design service life

Maritime vessels have long service life and great costs of building, manning, operating, maintaining and repairing throughout their life. Major actions are needed to repair, renovate, sometime built or even replace those scrapped when technology or demand changes determine obsolescence. It is regarded as a concern throughout vessel's entire life cycle and reflects changes in expectation regarding performances in functioning, safety and environmental effects. While service live may differ from physical lives, expectations about physical lives is the main factors that determines design service life. Performance and failure are illustrated conceptually and represented in a simplified form considering the evolution of vessels parameters during its service life. In the proposed methodology an accumulated vessel lifecycle cost is analyzed and obsolescence is characterized from ship's design, performances, maintenance and management parameters point of view. Romanian ports feeding Black Sea are investigated in order to provide comprehensive information on: number and types of vessels, transport capacity and life cycle length. Recommendations are to be made in order to insure a best practice in lifecycle management in order to reduce costs.