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Input Parameter for the Ferries Capital Budgeting. Note that even though investment value increases
when a project is put on hold because of uncertainty reduction, nevertheless, the option to defer in
the binomial case might involve losses in cash flows and competition. Using literature review and
theoretical input, the authors first modeled the economic properties of the WHRS installation on
ships, and further analyze the profitability of the WHRS project investment using the classical capital
budgeting methods and the real-options approach (ROA) incorporating the ROA results alongside
NPV to improve the accuracy of the investment assessment. This methodology makes it possible to
compare different investment options in financial terms. LCC is used to determine the so-called live
costs, which include initial investment outlays, as well as operating costs. The proposed three-step
methodology was supposed to allow for the consideration of both the proximity of potential
consumers in the research and possible time gaps between supply and demand for energy. Adobe
Express Go from Adobe Express creation to Issuu publication. The first system included a flat solar
collector and a DWHR unit supported by a gas boiler, while the second solution was a tubular solar
collector and a DWHR unit supported by an electric tank. The organic working fluid selection was
developed according to environmental criteria, operational parameters, thermodynamic conditions of
the gas engine, and investment costs. All articles published by MDPI are made immediately available
worldwide under an open access license. No special. The majority of heat pumps work on the
principle of the vapour compression cycle. In this. This paper describes various technologies for air-
to-air energy recovery. The simplest configuration for a recuperator is the metallic radiation
recuperator, which. Different organic fluids and working conditions were analyzed in order to
determine the best decision in terms of energy efficiency and exergetica refers to criteria such as
cost, environmental impact, flammability toxicity among others. In minimum constructional,
maintenance and running cost, this system is very useful for domestic purpose. The two analyzed
ferries are equipped with main engines of comparable power but with different operating profiles that
lead to different economic situations. This book chapter is meant to provide an overview of the
technical development and application of ORC technology to recover wasted thermal energy from
the ICE with a particular focus on vehicle applications. Resources Dive into our extensive resources
on the topic that interests you. It uses a theoretical model that combines instruments from capital
budgeting, real options theory, and random walk approaches to explore and assess different
abatement investments on ships. In considering the potential to recover heat, it is useful to note all
the possible sources of. Water usage involving the shower is one of the key factors in assessing the
rationality of using a unit for heat recovery. It was found that the implementation of waste heat
recovery systems can bring significant financial and environmental benefits. In this paper, a marine
application of ORC for waste heat recovery will be discussed by performing the first law
thermodynamic analysis based on the operating profile and machinery design data of an offshore
service vessel (OSV) and defining four standard cycle configurations that include simple,
recuperated, dual heat source, and with intermediate heating. Accumulation of dust and slagging on
the surfaces reduce. In this view, if the price of fuel falls below the cost of initial calculations, it may
be optimal to shut down the WHRS temporarily to save costs of maintenance and other related costs
until the fuel price recovers. The most straightforward rule for business decisions based on NPV
value is to discard all investments with negative NPVs and undertake only ventures with positive
NPVs. We use cookies on our website to ensure you get the best experience. Based on the review of
the research, it can be concluded that the issue of energy recovery from gray water has not been
sufficiently developed. Hence, the operation of the RoPax ferry on longer routes would lead to a
favorable decision for the installation of an ST-PT WHRS. The hybrid solar systems with heat
recovery allowed us to minimize the demand for electricity. Various types of installations and heat
take-off units were tested, primarily assessing the economic and environmental benefits of their use.
Journal of Marine Science and Engineering. 2020; 8(10):811. Note that the implementation of a
WHRS investment is not in stages and the likelihood of termination after execution commences is
low. There are many commercial computer simulation programs on the market that allow us to obtain
solutions for numerical equations describing a given model using methods such as: Finite Element
Method (FEM). Areas for potential waste recovery are dependent on the type of industrial process,
and are. Critical Analysis of the Current State of Knowledge in the Field of Waste Heat Recovery in
Sewage Systems. In other words, real-options acquisitions are not constant; however, in diverse
financial market options, the strike prices (i.e., the price at the premium is bought) are fixed. ISPRS
International Journal of Geo-Information (IJGI). The paper also describes the environmental benefits
that can be achieved through the use of DWHR systems, which result directly from the reduction of
energy consumption. That’s one more reason why Kemco’s Heat Recovery Wastewater Services
come with a 20-year warranty. In recent years, the state of knowledge in the field of heat recovery
has changed significantly as well as the standards in the design and operation of sanitary
installations. The global numerical algorithm was used in the research. Mike Smith February 19, 2024
SEO in an AI-Driven World: Effective Strategies for Success Sian Mahoney February 15, 2024. Add
Links Send readers directly to specific items or pages with shopping and web links. Various
environment-friendly refrigerants have been selected as working fluids to compare the effects of net
work output, pump consumption, coolant flow rate, thermal efficiency, exergy efficiency, exergy
destructions, condenser exergy reduction, and exergy efficiencies with various evaporator pressures.
Teams Enable groups of users to work together to streamline your digital publishing. The sum of
every discounted expected revenue at the starting time of the venture leads to the net present value
(NPV) of the investment, which estimates the value of the investment at the beginning. Once energy
requirements are met, all possible methods are explored to ensure cost efficiency to help ships
acquiesce with the regulations. Exodraft is one of a number of companies that creates various
products and solutions. August 9, 2021 Study and Implementation of Project Management Principles
in New Product Development in Automobile August 9, 2021 Effect of Various Lateral Load
Resisting Systems on Buildings with Flat Slab Systems August 9, 2021 Image Based Virtual Try on
Network August 9, 2021 Accumulation of Alpha-Synuclein Aggregates and it's Causes, Eventually
Lead to Neurodegeneration. The technology can save from 110.14 to 121.15 GJ in a building
without continuous DHW circulation in the installation and from 164.28 to 205.93 GJ for a building
with circulation. A figure of thermo compressor is shown in Figure 14. However, for investment
appraisal, it is crucial to predict the cost of capital. In this paper, analysis has been done for various
environment-friendly newly developed refrigerants which are very rare in the literature. Finally, all
payback periods are long with around 10 years and even longer making the decision for a WHRS
investment under the current economic frame conditions doubtable. Thus, this work evaluates the
WHRS investment using the classical budgeting instruments as well as the real-options approach (a
more sophisticated approach) to accommodate the presumed expected future changes in the volatile
maritime markets. Afterward, the results of the comparative analysis were used to determine which
of the investment evaluation tool is most promising for a maritime investment decision to maximize
profit and avoid loss. Some works recognize the potential of real options approaches for the maritime
industry. It was estimated that the DWHR unit integrated with a flat solar collector saved 1831 kWh
of energy per year, while an installation with a tubular collector could reduce its demand by 1771
kWh. They can be implemented in both commercial (bar, restaurants, bakers, etc.) and light and
heavy industries (aluminum production, heat treatment plants, glass, and production, etc.). The
pressure at which the steam is generated and the rate at which steam is produced depend.
Studies have shown that equipping units with properly shaped baffles or introducing water flow
limiters in the system can significantly increase the efficiency of thermal energy reception. Mike
Smith February 21, 2024 Why Should You Use a Surcharge Program. Petroleum Conservation
Research Association (PCRA), Ministry of Petroluem. Fuel. A large paper manufacturing company
identifies an opportunity to save money by recovering. We want to place all added value at the
center stage for you. The worth of the investment is thus determined with a clear view of the
financial merit of initial investment cost, i.e., when the NPV is greater than zero. Adobe InDesign
Design pixel-perfect content like flyers, magazines and more with Adobe InDesign. Sinman January
20, 2021 Simple Fruit Trees to Add in Your Backyard Arni Barni August 6, 2020 Innovative
Packaging Solutions for Sustainable Companies Wilfredo E. Add Links Send readers directly to
specific items or pages with shopping and web links. Visit our dedicated information section to learn
more about MDPI. Tanha et al. by extrapolating data obtained during experimental studies proved
that SHDW systems can recover 789 kWh of thermal energy annually. The exposure threat of rate of
returns (similar to treasury bonds) is about 2.5% (which is low) with a maturity of 10 years in the EU
added to the opportunity cost of capital. Hence, the paper discusses the use of WHRS in light of the
EEDI regulations of the IMO, which goes beyond pure financial investigations. Help Center Here
you'll find an answer to your question. This heat can be used for number of domestic and industrial
purposes. Based on the review of the research, it can be concluded that the issue of energy recovery
from gray water has not been sufficiently developed. In the current study, these uncertainties are
considered negligible due to the engine load factor that is below 50% seen in Table 1. Investment
Analysis of Waste Heat Recovery System Installations on Ships’ Engines. Afterward, the results of
the comparative analysis were used to determine which of the investment evaluation tool is most
promising for a maritime investment decision to maximize profit and avoid loss. Realistically, the
investor suspends the investment but does not abandon the project. Since the WHRS only operates
above 50% of the engine load with the recovered energy working at a certain percentage of the total
energy used per time, having the necessary engine load profile is important. A well-known result
from a risk analysis of option is that the value of options declines with decreasing lifetime of the
option. This situation indicates the advantage of having a flexible option. Gout, Urate, and Crystal
Deposition Disease (GUCDD). In many cases, very low-pressure steam is reused as water after
condensation for lack of any. Available online: (accessed on 1 April 2020). EIA. International Energy
Outlook 2018. U.S. Energy Information Administration. Heat is energy, so energy saving is one of
the key matters from view point of use of refrigerants and for the protection of global environment
This waste heat will affect the environmental conditions because as heat in the environment will
increases it will cause global warming and also not good for our ozone layer too. Benefits of
Kemco’s Heat Recovery Wastewater Services Kemco’s shell and tube heat reclaimers are designed to
be wall or ceiling mounted, so they do not use valuable production floor space. The focus of this
research was centered on the financial aspects of WHRS installation, however, the interest of WHRS
centers on CO 2 emissions reduction and how it affects the Energy Efficiency Design Index (EEDI)
of ships as enforced by the IMO. In all considered cases, we compared the same ST-PT WHRS due
to the high performance of the installed engine power in all vessels.
This paper also studies the huge annual energy savings and environmental benefits that can be
resulted by using these waste heat recovery technologies for refrigeration. These results signify
optimistic assumptions because it is doubtful that bunker fuel prices, as well as the operation profile
of the vessel, would recover to the average level of the previous four years or would remain constant
over 20 years. So An attempt has been made to utilize waste heat from condenser of refrigerator. The
most important options to maximize energy efficiency when applying waste heat. The simplest
configuration for a recuperator is the metallic radiation recuperator, which. Hot liquid passing
through a bottom port in the head is permitted to pass upwards between. Critical Analysis of the
Current State of Knowledge in the Field of Waste Heat Recovery in Sewage Systems. Resources
2020, 9, 72. The combined ST-PT technology requires an additional fuel consumption of
approximately 1.2% of the burned fuel to tune the WHRS to a range above 50% SMCR for
improved efficiency. International Journal of Translational Medicine (IJTM). The remainder of the
paper is organized as follows: In the next section, the authors present the methodology of the
research describing the theoretical framework of the mechanical properties of WHRS as well as the
economic assessment of investments based on capital budgeting methods and the ROA. Note that the
implementation of a WHRS investment is not in stages and the likelihood of termination after
execution commences is low. Find support for a specific problem in the support section of our
website. Please note that many of the page functionalities won't work as expected without javascript
enabled. The digital opportunities available today inspire us to help you make your business grow.
Limited; wide range of stacking technology included. Waste heat is heat generated in a process by
way of fuel combustion or chemical reaction. A common feature in financial and real options
approaches is that the price of an option shows a projected impending return of the investment
during the period of exercise where the projected return is discounted back to the present safely
while revealing the present option value. But this system is not widely used in ship applications.
Multiple requests from the same IP address are counted as one view. In these cases, deferral
decisions seem to be an adequate solution for ship-owners. Here you can find out more what this
means for the protection of your personal data. Investment Analysis of Waste Heat Recovery
System Installations on Ships’ Engines. J. Mar. Sci. Eng. 2020, 8, 811. Teams Enable groups of users
to work together to streamline your digital publishing. The applications of waste heat energy include
generating electricity, preheating combustion air, space heating, refrigeration, etc. Moreover, it often
deviates from the common goals of sustainable development, which is why the spread of low carbon
technologies is so important. Applications of real options approach in maritime business are only
getting attention now because maritime investors are beginning to appreciate investment decisions
that allow reactions to volatile commodities like fuel and other goods allowing integration if
management options and evaluations into a real options approach. In countries which are members
of the Organization for Economic Co-operation and Development (OECD), this increase is projected
at around 0.4% per year until 2050. Reay, D.A. and Span, F.N. Heat Recovery Systems.1979. This
entrains the LP steam by momentum transfer and then. Find support for a specific problem in the
support section of our website.
Note that from the first issue of 2016, this journal uses article numbers instead of page numbers.
Journal of Theoretical and Applied Electronic Commerce Research (JTAER). In countries which are
members of the Organization for Economic Co-operation and Development (OECD), this increase is
projected at around 0.4% per year until 2050. Hence, an investment decision represents the execution
of a real option, and this the execution of the option the corresponding NPV of the option will be
realized. Feature papers are submitted upon individual invitation or recommendation by the scientific
editors and must receive. We have to cut down on extracting energy sources from nature and turn to
renewable ones, and that is exactly what these systems permit. One simplified approach is the display
of the detailed annual distribution of average ranges for various engine loads gotten from experts’
interviews in Table 2. Embed Host your publication on your website or blog with just a few clicks.
Video Say more by seamlessly including video within your publication. Journal of Marine Science
and Engineering. 2020; 8(10):811. Integrating a well-designed ORC system to ICE can effectively
improve the overall energy efficiency and reduce emissions with around 2-5 years payback period
through fuel saving. Some works recognize the potential of real options approaches for the maritime
industry. It is possible to integrate existing study results to model the necessary technical equipment
for a general maritime WHRS along with economic and physical characteristics. May 15, 2021 Effect
of Cupola Slag as a Partial Replacement of Coarse Aggregate on Mechanical Properties of Geopo
May 15, 2021 An Experimental Study on Strength and Behaviors of Reactive Powder Concrete May
15, 2021 Read more Advertisement Advertisement Advertisement Issuu converts static files into:
digital portfolios, online yearbooks, online catalogs, digital photo albums and more. That’s one more
reason why Kemco’s Heat Recovery Wastewater Services come with a 20-year warranty. We are
your partner along the entire production line, from the annealing lehr to the cold end with cutting,
stacking and conveyor equipment. Tanha et al. by extrapolating data obtained during experimental
studies proved that SHDW systems can recover 789 kWh of thermal energy annually. The analysis
confirmed that some system configurations may show better efficiency in recovering heat from gray
water, and thus their use is much more rational. These cookies do not store any personal information.
The boiler inspector was even impressed with how clean it was.”. Therefore, it is useful to carry out
research to improve the thermal efficiency of the ICE through a WHRS based on the organic
Rankine cycle (ORC), since this type of system takes advantage of the heat of the exhaust gases to
generate electrical energy. Notwithstanding, engine load assumptions for the port and maneuvering
still have considerable uncertainty, especially now that the engines are shut down in ports due to the
on-shore power supply. The inner tube carries the hot exhaust gases while the. Teams Enable groups
of users to work together to streamline your digital publishing. Taylora Wang June 2, 2023 Playing to
Win: Strategies for Success in the Gaming World Taylora Wang May 25, 2023. An assessment of the
potential for shower water heat recovery. This offers the option to invest or postpone because of the
circumstances that affect the formation of the NPV of the investment. First, if the investment
decision of a WHRS installation in all three cases is economically reasonable under ROA view and
second if deferral of one year of the WHRS investment is favorable for the management. For more
information on the journal statistics, click here. In the case of heat recovery in industrial sewage
installations, it would be necessary to carry out research on sewage with different temperatures and
different degrees of pollution, coming from specific industries.
IJERA Editor Improving Efficiency of Cooling Coil Chiller Units Improving Efficiency of Cooling
Coil Chiller Units Dr. Amarjeet Singh draft.pdf draft.pdf IffatFarooqui Enhancing Energy Efficiency
of Thermochemical Vacuum-Processes and Systems Enhancing Energy Efficiency of
Thermochemical Vacuum-Processes and Systems ALD Vacuum Systems Inc. Statistics Make data-
driven decisions to drive reader engagement, subscriptions, and campaigns. In assessing the
legitimacy of heat recovery from gray water, it should be noted that gray water is independent of
atmospheric conditions compared to other alternative energy sources. These systems capture those
gases and allow us to use them again. In all considered cases, we compared the same ST-PT WHRS
due to the high performance of the installed engine power in all vessels. The energy reductions of the
WHRS and the value of the fuel reductions of the WHRS are unstable and volatile in real life that
will change significantly over the lifespan of 20 years. Digital Sales Sell your publications
commission-free as single issues or ongoing subscriptions. A single exchanger section consists of a
smaller diameter tube (wastewater side) installed inside a larger diameter tube (water side). C. Rather
than discharging this water to drain, it was decided to preheat the 10000. In many cases, very low-
pressure steam is reused as water after condensation for lack of any. In addition to that, both studies
pointed out that their models can determine the optimal time for deferrals of investments and can
assess investments at present or in the future. This process is important in maintaining acceptable
indoor air quality (IAQ) while maintaining low energy costs and reducing overall energy
consumption. GIFs Highlight your latest work via email or social media with custom GIFs. You can
download the paper by clicking the button above. Previous Article in Special Issue Application of
Reference Voltage Control Method of the Generator Using a Neural Network in Variable Speed
Synchronous Generation System of DC Distribution for Ships. All articles published by MDPI are
made immediately available worldwide under an open access license. No special. This eliminates
additional electrical consumption required by filtration systems and provides hotter wastewater to
the reclaimer. Video Say more by seamlessly including video within your publication. Different
organic fluids and working conditions were analyzed in order to determine the best decision in terms
of energy efficiency and exergetica refers to criteria such as cost, environmental impact,
flammability toxicity among others. In comparison with a building equipped only with solar
collectors, electricity consumption could be reduced by 31%, additionally introducing sewage
separation and heat recovery using a plate heat exchanger. It is possible to integrate existing study
results to model the necessary technical equipment for a general maritime WHRS along with
economic and physical characteristics. Table 2 gives the temperatures of waste gases from industrial
process equipment in the high. Facilities are constantly searching for new ways to cut down the costs
but increase the efficiency and using waste heat recovery system is one of them. A reason for this
might be that the conventional financial evaluation of sensitive choices is commonly done through
capital budgeting methods, which are not flexible enough to integrate future changes in fuel prices
and long-term aspects of other costs. The real options method of investment projects is the extension
of financial options theory on real property. This waste heat from refrigerator will affect the
environmental because as heat in the environment will increases it will cause global warming. The
best product for this type of applications are Hexonic tube-in-tube heat exchangers. The presented
forecasts for the increase in energy demand are related primarily to the growing demand for services,
economic development, and continuous population growth. Grenzebach participates in events around
the transparent material. It fascinates and empowers us to work tirelessly on technological
innovations so that we can help you exploit its full potential.
One interesting approach to increasing ship’s efficiency, reducing fuel consumption and CO 2
emissions is the use of a waste-heat recovery approach that has its origin in heavy industry, especially
in power plants, steel mills, and other high-energy fabrics. Funding This research was funded by the
EUROPEAN REGIONAL DEVELOPMENT FUND in the frame of the BSR INTERREG
PROGRAMME through the EnviSuM—Environmental Impact of Low Emission Shipping:
Measurements and Modelling and the CSHIPP—Clean Shipping Platform projects. Well, its main
goal is to transfer and repurpose exhaust gases. SEP Shipping is a growing sector in the global
economy and its contributions to global greenhouse gas (GHG) emissions are expected to increase.
European Journal of Investigation in Health, Psychology and Education (EJIHPE). Table 4 gives the
detailed general input parameters for the evaluation for the 2 ferries. One such example of this is a
plastics factory where chilled. High cash flow volatility (i.e., 20%) justifies the large size of this
value and the significant long lifetime of the option (20 years) so that in this situation it is not
surprising for such a significant investment. The technology can save from 110.14 to 121.15 GJ in a
building without continuous DHW circulation in the installation and from 164.28 to 205.93 GJ for a
building with circulation. The average journey time Lubeck—Helsinki is around 29 h with an
average journey speed of a little bit less than 21 knots. Following the methodology of triangulation,
three case studies of ships with varying operational conditions empirically validate the result to
depict the practical use of the real-options evaluation method in investment assessment. In this paper,
analysis has been done for various environment-friendly newly developed refrigerants which are
very rare in the literature. Multiple requests from the same IP address are counted as one view.
Feature papers are submitted upon individual invitation or recommendation by the scientific editors
and must receive. Statistics Make data-driven decisions to drive reader engagement, subscriptions,
and campaigns. IRJET- A Review on Thermal Analysis and Optimization of Heat Exchanger Design.
Note that from the first issue of 2016, this journal uses article numbers instead of page numbers. It
was determined that an increase in any of these temperatures would lead to an increase in efficiency,
even if the temperature difference between the inlets was constant. These results signify optimistic
assumptions because it is doubtful that bunker fuel prices, as well as the operation profile of the
vessel, would recover to the average level of the previous four years or would remain constant over
20 years. It is possible to integrate existing study results to model the necessary technical equipment
for a general maritime WHRS along with economic and physical characteristics. Table 5 shows the
summative capital budgeting results for Tallinn—Helsinki and Travemunde—Helsinki ferries. 3.1.3.
Case C—China—European North Range Ports (Container Vessel) The operational parameter of the
container vessel, which is different from that of the ferries discloses an annual operation time of
6480 h, which represents 270 days of operation per year. Notwithstanding, engine load assumptions
for the port and maneuvering still have considerable uncertainty, especially now that the engines are
shut down in ports due to the on-shore power supply. The empirical data were used to determine the
cost build-ups of the WHRS technology using the conventional investment evaluation tools, i.e.,
NPV, IRR, and the payback period comparable to using the proposed real options model. Research
results published in recent years have often been focused on improving already available technologies
for thermal energy collection, not only in the construction industry and municipal engineering, but
also in various areas of the economy. Piotrowska, B.; Slys, D.; Kordana-Obuch, S.; Pochwat, K. Due
to many different surroundings, a number of heat recovery solutions have been developed. Research
on heat recovery in sewer systems was most often carried out for vertical DWHR (Drain Water Heat
Recovery) heat exchangers installed in residential buildings. In order to be human-readable, please
install an RSS reader. Hence, the most significant value growth of the real option takes place in the
second 10 years of the usage of the WHRS so that the maintenance and servicing of the technical
system play a crucial role in the economic success of the concept. 4. Discussion The assessment of
the WHRS investments on the three considered ships with the capital budgeting approach reveals that
the operating profile of the vessels significantly influence the economic results. In the case of heat
recovery in industrial sewage installations, it would be necessary to carry out research on sewage
with different temperatures and different degrees of pollution, coming from specific industries.

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