An estimation model for the inland ship repair cost in Bangladesh based on the displacement of vessels

The shipyards in Bangladesh are mainly responsible for ship repair services for inland vessels. The costs of ship repair depend on many factors. The estimation of costs prior to repair work is a crucial job. To estimate the ship repair costs, several methods are available. But, from the perspective of Bangladesh, these estimation models cannot be used properly considering the standards of the shipyard, working method, and available data. That's why a new cost estimation model is required. This research is conducted to construct a model for the estimation of ship repair cost and its segments. Data are collected from the shipyards for a number of ships. Both linear and nonlinear regression analyses are done to construct the model. The cost models are constructed to estimate the cost for varying displacements. The models are then adjusted for better estimation by defining an objective function. After the regression analysis, equations are developed, and errors are measured for different models to choose the best one. The outcome of this research will be very beneficial for the ship repair industry and the shipowners in Bangladesh.