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At present, shipowners have to take active measures to improve the efficiency of their fleet to remain competitive on the freight market. In this respect, the development of a shipping company’s fleet is immensely important due to the ability of such vessels to operate with maximum efficiency and flexibility when the structure of cargo flow is heterogeneous. At the same time, fuel expenses account for a considerable part of shipping company expenses. Fuel consumption greatly depends on ship speed. Therefore, the efficiency of maritime shipping can be greatly increased by choosing optimal speed. The purpose of this research is to develop a methodology for justifying the selection of shipping company fleet expansion projects based on cargo flow structure characteristics, considering the possibility of slow steaming ship operation. Net Present Value and Profitability Index were taken into account to compare the efficiency of acquisition and operation projects pertaining to ships with significantly different deadweight and market values.

The countries of Southeast Asia are the largest importers of bulk cargoes in the world, as well as exporters of large volumes of oversized project cargo including unique equipment consisting of heavy-lifts and out of gauge units, which are carried on board of specialized ships, specially designed build for this type of transportation. A large number of dry cargo vessels, including bulk carriers and container ships that formed free tonnage in this geographical area, remain mainly unloaded in the reverse direction and therefore have to return in ballast condition. The way of assessment of the possibility of using such non-specialized vessels for the carriage of oversized project cargo is primarily based on the assessment of the ship's performance in a situation where the ship is being loaded in bulk by cargo (from Europe) and in the opposite direction (from Southeast Asia) for transportation of oversized project cargo. Considering that the design of dry cargo and container vessels is not optimal for such kind transportation, in most cases, some research is needed to adapt such non-specialized vessels for the transportation of heavy and oversized cargo, to optimize the loading, stowage and securing ensuring safety of cargo during sea passage. In some cases in order to assess the suitability of the vessel her cargo compartments, decks and hatches, its strength, security means and entire safety of the ship, it may also be necessary to apply additional measures to rebuild structural components and ship devices. Therefore, the issues related to the development of measures aimed at improving the efficiency of maritime transport, based on the specifics of the structure of cargo flow, are quite essential. The scope of this work is to discuss some perspectives and practical aspects of ships selection, considering possibility to engage them for transportation of project cargoes and work at economical speeds. Shipping companies often report figures in TCE (time charter equivalent) values so that investors can compare performance of ships operating in the spot and time-charter markets.

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