DETERMINANTS OF CARGO DAMAGE RISK AND SEVERITY - THE CASE OF CONTAINERSHIP ACCIDENTS

This study investigates determinants of the risk and the, severity of cargo damage of containership accidents, utilizing microdata of indivi dual vessel accidents that occurred in U.S. waters for the time period 1981-89. The empirical results suggest that this risk end severity (p er ship gross ton) are less if the ship is manned by a licensed (versu s an unlicensed) operator at the time of the, accident. less for large r-sized (versus smaller-sized) ships, end greater for collision and fi re/explosion (than for grounding) ship accidents. The severity is also greater for adrift than for docked or moored ships.