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Maritime transportation has a pivotal role in the foreign trade and hence, the world’s economic growth. It augments the realization of “Maritime Silk Road” strategy. However, the catastrophic nature of the maritime accidents has posed a serious threat to life, property, and environment. Maritime transportation safety is a complex system and is prone to human, equipment, and environment-based risks. In the existing literature, the risk assessment studies aimed at the analysis of maritime traffic safety usually consider the state of system as two ultimate states—one is the normal state and the other is the complete failure state. In contrast to the conventional approaches, this study incorporates a multistate criterion for system state giving consideration to the near or partial failures also. A Markov Chain-based methodology was adopted to determine the variations in state system and define the instant at which a low probability incident transforms into a high-risk intolerable event. The analysis imparts critical time nodes that could be utilized to reduce the risk and evade accidents. This study holds practical vitality for the concerned departments to circumvent the potential dangers and devise systematic preemptive procedures before the accident takes place. The results of this study could be employed to augment safety and sustainability of maritime traffic and decrease the associated pollution.
Wang et al. (Thu,) studied this question.