Port Investment Strategies under Uncertainty: The Case of a Southeast Asian Multipurpose Port1
Port Investment Strategies under Uncertainty: The Case of a Southeast Asian Multipurpose Port1
复制标题
DOI：
10.1016/j.ajsl.2014.12.003
复制
发表时间：
2014-12
期刊：
影响因子：
--
通讯作者：
I. Lagoudis;J. Rice;J. B. Salminen
中科院分区：
文献类型：
--
作者：
I. Lagoudis;J. Rice;J. B. Salminen
港口投资决策主要与提高生产力战略或扩大产能有关，从而提高产能利用率和财务业绩。作者提出了一个未来港口基础设施投资的投资决策过程，考虑到各种不确定性，这可能会影响投资回报超过项目的使用寿命。对于备选方案的评估，预期净现值（ENPV）基于未计利息、税项、折旧及摊销前的收益（EBITDA）。结果表明，与类似规模的策略相比，具有灵活选择权的新的4级仓库的投资策略是最优选择。然而，根据对各种投资指标的强调，最佳投资策略似乎更接近于非灵活的5级仓库。
Port investment decisions are mainly related to productivity improvement strategies or capacity expansion leading to higher capacity utilization and financial performance. The authors propose an investment decision-making process for future port infrastructure investments taking into account various uncertainties, which can impact the return of the investment over the project's useful life.The methodology has been applied on the expansion evaluation of warehousing facilities in a multipurpose port. For the evaluation of the alternatives, the expected net present value (ENPV) is based on earnings before interest, tax, depreciation and amortization (EBITDA). Results show that the investment strategy for a new 4-level warehouse with a flexible option was the optimal choice when compared with strategies of similar scale. However, depending on the emphasis placed on the various investment metrics the optimal investment strategy seems to be closer to a non-flexible 5-level warehouse.