Page 27: of Marine News Magazine (October 2012)

Size of Vessel Length of Vessel # of Auditors Per Vessel Cost (Plus Expenses)Days to CompleteSmall<65 feet1$1,000 - $2,5001.0 - 1.5 Large t65 feet1 $1,000 - $3,0001.0 - 1.5 CategoryPotential Per Vessel Range of Unit Cost to Comply with Standard Hull and Machinery $40,000 ? $833,000Fire ghting $1,514 ? $8,184Total $41,514 - $841,184CategoryPotential Per Vessel Range of Unit Cost to Comply with Standard Hull and Machinery$69,500 ? $297,000Navigation and Communication$9900 ? $38,950Pollution Prevention $16,020 ? $125,600Life-saving$4716 ? $11,859Fire ghting $2,055 ? $72,065Total $102,191 ? $545,474Table 3 ? Cost & Time For Towing Vessel Audits Table 4 - New UTVs (constructed aftereffect of data regulation) Table 5 - Existing UTVs (Constructed prior to effective data regulation) Cost ElementEstimated Potential CostSMS development $750 ? $70,000 (one?time cost)SMS initial implementation$311,000 overall for an average towing vessel com- pany: $1680 per employee for an average towing ves-sel company (one-time cost)Ongoing SMS maintenance and activities$2.5 million for an average towing vessel company; $14,490 per employee for an average towing vessel company (annual cost)Internal auditing$5000 ? $18,000 on a cost (per audit)External auditing$750 ? $6000Total $2,817,500 ? $2,905,000 (see notes above)Table 6 - Estimated Potential Cost for an SMS www.marinelink.com MN 27MNOct2012 Layout 18-31.indd 27MNOct2012 Layout 18-31.indd 2710/2/2012 9:38:31 AM10/2/2012 9:38:31 AM