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Simulation-based catastrophe-induced port loss estimation

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  • Cao, Xinhu
  • Lam, Jasmine Siu Lee

Abstract

Seaports are critical infrastructure systems in the international economy. They are at the same time vulnerable to various types of natural and man-made catastrophes due to their special coastal and low-lying locations. Traditional catastrophe risk analyses focused more on regions, port cities, and port communities. Limited studies assessed catastrophe risks on ports as a specific system. This paper aims to develop a catastrophe-induced port loss estimation framework, based on a port operation simulation model, actual terminal records and historical hazard records. By using the typhoon hazard and the Port of Shenzhen as a case study, we find that (1) the worst-case scenario of a typhoon impact could cause a total loss of US$0.91 billion for a terminal with 16 berths; and (2) the annual predicted typhoon-induced loss for the same terminal for the next 5 years will reach approximately US$64 million, accounting for 19.7% of the terminal net profit in 2015. The results provide useful references for various port stakeholders in catastrophe risk assessment and mitigation.

Suggested Citation

  • Cao, Xinhu & Lam, Jasmine Siu Lee, 2018. "Simulation-based catastrophe-induced port loss estimation," Reliability Engineering and System Safety, Elsevier, vol. 175(C), pages 1-12.
    • Handle: RePEc:eee:reensy:v:175:y:2018:i:c:p:1-12
    DOI: 10.1016/j.ress.2018.02.008
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    4. Laure Rousset & César Ducruet, 2020. "Disruptions in Spatial Networks: a Comparative Study of Major Shocks Affecting Ports and Shipping Patterns," Post-Print halshs-02588551, HAL.
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    7. Kuhla, Kilian & Willner, Sven N & Otto, Christian & Levermann, Anders, 2023. "Resilience of international trade to typhoon-related supply disruptions," Journal of Economic Dynamics and Control, Elsevier, vol. 151(C).
    8. Shen, Zhonghui & Wei, Kai, 2021. "Stochastic model of tropical cyclones along China coast including the effects of spatial heterogeneity and ocean feedback," Reliability Engineering and System Safety, Elsevier, vol. 216(C).

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