Browse
Subjects
Records with Subject: Modelling and Simulations
3747. LAPSE:2023.9937
Simple Mathematical and Simulink Model of Stepper Motor
February 27, 2023 (v1)
Subject: Modelling and Simulations
Keywords: computer programming, dq transformation method, permeance space harmonics, stepping motors
This paper presents a simple mathematical and Simulink model of a two-phase hybrid stepper motor, where ignoring the permeance space harmonics of the hybrid stepper motor is regarded as the main physical assumption in this article. Moreover, the dq transformation method is adopted as the main mathematical approach for the derivation of the proposed model, where simple voltages, currents, and torque equations are obtained and used to build the proposed Simulink and circuit model of the stepper motor. The validity and the effectiveness of the proposed model are examined by comparing its results with the results collected from the Simulink model in the library of Matlab. The obtained simulation results showed that the proposed model achieved a high simplicity and high accuracy when compared with conventional models.
3748. LAPSE:2023.9922
Risk Analysis of HPEM Threats for Linear RF Channel with Pyramid Horn Antenna Based on System-Level SPICE Modeling
February 27, 2023 (v1)
Subject: Modelling and Simulations
Keywords: equivalent circuit, high power electromagnetics, micro-strip, pyramid horn antenna, SPICE model, vector fitting, vector norm, wireless communication system
High power electromagnetics (HPEMs) pose a potential threatening risk to the wireless communication system, especially according to the main coupling path of the RF front-end channel. SPICE modeling of the responses coupled on the RF channel is crucial for the EM risk assessment, which helps us learn more about how the pulse conducts on the RF channel. A simplified linear RF channel with pyramid horn antenna is taken as an example by the selection of the key electronic modules of the actual wireless system. This paper proposes a system-level SPICE circuit model for the simplified RF channel according to the hybrid methods of the antenna electromagnetic simulation and SPICE modeling of the RF circuit. The equivalent circuits of the horn antenna illuminated by HPEMs are established with the Vector Fitting method based on Thevenin and Norton theorems. The short current response as the excitation files for the SPICE models are obtained by the commercial electromagnetic simulation of the ho... [more]
3749. LAPSE:2023.9918
High-Dimensional Energy Consumption Anomaly Detection: A Deep Learning-Based Method for Detecting Anomalies
February 27, 2023 (v1)
Subject: Modelling and Simulations
Keywords: anomaly detection, deep learning, high-dimensional energy consumption, time series analysis
With the increase of energy demand, energy wasteful behavior is inevitable. To reduce energy waste, it is crucial to understand users’ electricity consumption habits and detect abnormal usage behavior in a timely manner. This study proposes a high-dimensional energy consumption anomaly detection method based on deep learning. The method uses high-dimensional energy consumption related data to predict users’ electricity consumption in real time and for anomaly detection. The test results of the method on a publicly available dataset show that it can effectively detect abnormal electricity usage behavior of users. The results show that the method is useful in establishing a real-time anomaly detection system in buildings, helping building managers to identify abnormal electricity usage by users. In addition, users can also use the system to understand their electricity usage and reduce energy waste.
3750. LAPSE:2023.9903
Experimental Study and Numerical Simulation of Removing Water Blocking by Hot-Gas Injection in Tight Cores
February 27, 2023 (v1)
Subject: Modelling and Simulations
Keywords: reservoir numerical simulation, tight sandstone gas reservoirs, water block damage, water block release
Compared with oil, natural gas has been the focus of the energy industry in recent years. Renewable energy is the goal and trend of future developments, and it has made considerable progress; however, it has not reached the ideal popularization rate. Therefore, natural gas is still very important so far. In this paper, the influence of thermal gas injection and room temperature gas injection on gas reservoir recovery is analyzed, and the method of water plugging by hot gas injection in tight gas reservoir is put forward. Indoor simulation experiments were carried out to evaluate the effect of hot-gas injection in cut pore water and the degree of water blockage. On this basis, the numerical simulation of removing water blockage by hot-gas injection was carried out. The changes in core temperature and remaining water saturation were discussed by using simulation models. Results of this study can provide a theoretical basis for removing water blockage in actual oil and gas reservoirs.
3751. LAPSE:2023.9901
Embedded Real-Time Clothing Classifier Using One-Stage Methods for Saving Energy in Thermostats
February 27, 2023 (v1)
Subject: Modelling and Simulations
Keywords: clothing insulation, computer vision, connected thermostat, deep learning, embedded system, energy saving, thermal comfort
Energy-saving is a mandatory research topic since the growing population demands additional energy yearly. Moreover, climate change requires more attention to reduce the impact of generating more CO2. As a result, some new research areas need to be explored to create innovative energy-saving alternatives in electrical devices that have high energy consumption. One research area of interest is the computer visual classification for reducing energy consumption and keeping thermal comfort in thermostats. Usually, connected thermostats obrtain information from sensors for detecting persons and scheduling autonomous operations to save energy. However, there is a lack of knowledge of how computer vision can be deployed in embedded digital systems to analyze clothing insulation in connected thermostats to reduce energy consumption and keep thermal comfort. The clothing classification algorithm embedded in a digital system for saving energy could be a companion device in connected thermostats... [more]
3752. LAPSE:2023.9899
Data-Driven Virtual Flow Rate Sensor Development for Leakage Monitoring at the Cradle Bearing in an Axial Piston Pump
February 27, 2023 (v1)
Subject: Modelling and Simulations
Keywords: axial piston pump, data-driven method, leakage monitoring, Machine Learning, virtual sensor
The leakage of the tribological contact in axial piston pumps significantly impacts the pump efficiency. Leakage observations can be used to optimize the pump design and monitor the behavior of the tribological contact. However, due to assembly limitations, it is not always feasible to observe the leakage of each tribological contact individually with a flow rate sensor. This work developed a data-driven virtual flow rate sensor for monitoring the leakage of cradle bearings in axial piston pumps under different operating conditions and recess pressures. The performance of neural network, support vector regression, and Gaussian regression methods for developing the virtual flow rate sensor was systematically investigated. In addition, the effect of the number of datasets and label distribution on the performance of the virtual flow sensor were systematically studied. The findings are verified using a data-driven virtual flow rate sensor to observe the leakage. In addition, they show tha... [more]
3753. LAPSE:2023.9886
Experimental Study and Numerical Simulation of an Electrical Preheating for SAGD Wells in Heavy Oil Reservoirs
February 27, 2023 (v1)
Subject: Modelling and Simulations
Keywords: electrical heating, heat transfer characteristics, heavy oil reservoir, preheating, steam-assisted gravity-drainage (SAGD)
It is necessary to establish effective communication between two horizontal wells during the preheating period of steam-assisted gravity-drainage (SAGD). However, the preheating time is usually very long, which results in high steam consumption and CO2 emissions. There is little research on the effects of different wellbore fluids during the preheating period. The heat transfer and heating characteristics of different wellbore fluids−water, heat-conduction oil, and air−were explored by using physical experiments and numerical simulations. In this study, the results indicated that the heat-transfer performance of heat-conduction oil is the best. The numerical simulation’s results indicated that compared with the wellbore saturated with water, the heat-conduction oil reduced the viscosity of crude oil, and energy consumption was not obvious during the preheating stage. The super-heavy oil flowed into the wellbore due to the solubility of the heat-conduction oil and its own gravity. As a... [more]
3754. LAPSE:2023.9881
The Modeling of Bubble Lift-Off Diameter in Vertical Subcooled Boiling Flow
February 27, 2023 (v1)
Subject: Modelling and Simulations
Keywords: bubble lift-off diameter, force analysis, subcooled boiling flow
Bubble lift-off diameter is characterized as the size of a bubble rising from a wall, which is vital in the boundary condition of heat transfer model and interfacial area transport equation. In this paper, mechanistic force analysis was conducted to explore a predictive model for bubble lift-off diameter in a vertical channel of subcooled boiling flow. Specifically, the component of growth force normal to the wall and the shear lift force lead to the lift-off of a bubble on the vertical surface. Through force analysis, we found that bubble lift-off diameter is arranged to be related to wall superheat, latent heat, liquid velocity, fluid properties, bulk liquid subcooling, etc. To account for the contribution of the influencing factors, the dimensionless bubble lift-off diameter was correlated with dimensionless parameters, including the Prandtl number, the Reynolds number, the Jacob number, and dimensionless subcooling. The proposed correlation was assessed according to experimental da... [more]
3755. LAPSE:2023.9878
Numerical and Experimental Investigations on the Ignition Behavior of OME
February 27, 2023 (v1)
Subject: Modelling and Simulations
Keywords: Computational Fluid Dynamics, e-Fuels, multi-injection, OME, oxygenated fuels, spray modeling
On the path towards climate-neutral future mobility, the usage of synthetic fuels derived from renewable power sources, so-called e-fuels, will be necessary. Oxygenated e-fuels, which contain oxygen in their chemical structure, not only have the potential to realize a climate-neutral powertrain, but also to burn more cleanly in terms of soot formation. Polyoxymethylene dimethyl ethers (PODE or OMEs) are a frequently discussed representative of such combustibles. However, to operate compression ignition engines with these fuels achieving maximum efficiency and minimum emissions, the physical-chemical behavior of OMEs needs to be understood and quantified. Especially the detailed characterization of physical and chemical properties of the spray is of utmost importance for the optimization of the injection and the mixture formation process. The presented work aimed to develop a comprehensive CFD model to specify the differences between OMEs and dodecane, which served as a reference diesel... [more]
3756. LAPSE:2023.9875
Propagation of Disturbances Generated by DC Electric Traction
February 27, 2023 (v1)
Subject: Modelling and Simulations
Keywords: electric traction, flicker, harmonics, power quality, system AC-DC, THD, voltage fluctuations
In Poland, rail transport is powered by the electric system with the use of traction substations that supply the electric traction with DC voltage of 3 kV. The necessity to change the alternating voltage to the constant and changing loads of the substation cause the electric traction to be a recipient, generating a number of disturbances to the network. These disturbances affect the quality of electricity in the power system from which traction substations are supplied, and the power quality in auxiliary and non-traction lines. This article analyzes the measurements of power quality indicators recorded at selected points of the traction substation system. The parameters characterizing the power quality were recorded, among others, in the main lines supplying traction substations, non-traction lines and auxiliary circuits. The presented article is the first in a series of publications related to the assessment of the impact of DC electric traction on the power system. The recorded data... [more]
3757. LAPSE:2023.9843
Rate-Based Modeling and Assessment of an Amine-Based Acid Gas Removal Process through a Comprehensive Solvent Selection Procedure
February 27, 2023 (v1)
Subject: Modelling and Simulations
Keywords: acid gas removal, Aspen Plus, blended amines, chemical absorption, process simulation, rate-based approach
In this study, an industrial acid gas removal (AGR) process which uses amine-based solvents was designed and simulated. The selection of suitable absorbents is crucial for an effective AGR process. Therefore, various single and blended amine-based solvents for capturing acid gases were evaluated through a comprehensive procedure, including solvent screening and process design steps. First, various solvents were screened for their CO2 and H2S absorption efficiencies. Promising solvents were then selected for the process design step, in which all process alternatives were simulated and rigorously designed using Aspen Plus. The non-equilibrium rate-based method with an electrolyte non-random two-liquid thermodynamic model was employed for modeling the absorption column. All processes were evaluated in terms of energy requirements, costs, and carbon emissions. The results show that a blend of methyldiethanolamine and piperazine solutions are the most promising solvents for the AGR process,... [more]
3758. LAPSE:2023.9842
Thermal Impact by Open-Loop Geothermal Heat Pump Systems in Two Different Local Underground Conditions on the Alluvial Fan of the Nagara River, Gifu City, Central Japan
February 27, 2023 (v1)
Subject: Modelling and Simulations
Keywords: FEFLOW, groundwater flow and heat transport, natural temperature change, open-loop geothermal heat pump, simulation model, thermal impact
An alluvial fan is a good area to install open-loop geothermal heat pump (GHP) systems due to shallower aquifers, faster groundwater flow, and fewer land subsidence risks. The natural temperature change in groundwater occurs in alluvial fans due to the recharge of river water and faster groundwater flow, and the thermal impact of the open-loop system has not been studied well in such areas. The purpose of this research is to understand the thermal impact of open-loop GHP systems on an alluvial fan. A regional 3D model of groundwater flow with heat transport was created to determine the distribution of flow velocity and temperature of groundwater. After that, two local models with different groundwater velocities were constructed to demonstrate the thermal impact of an open-loop GHP system using one extraction and one injection well. The results indicated that the local model with faster groundwater flow had a smaller thermal impact. The natural temperature change in groundwater causes... [more]
3759. LAPSE:2023.9836
Machine Learning in Creating Energy Consumption Model for UAV
February 27, 2023 (v1)
Subject: Modelling and Simulations
Keywords: energy consumption model, Machine Learning, mobile robotics, UAV
The growing interest in the utilization of Unmanned Aerial Vehicles (UAVs) demands minimizing the costs of robot maintenance, where one of the main aspects relates to energy consumption. This manuscript presents a novel approach to create an energy consumption model for UAVs. The authors prove, based on experimentally collected data using a drone carrying various payloads, that Machine Learning (ML) algorithms allow to sufficiently accurately estimate a power signal. As opposed to the classical approach with mathematical modeling, the presented method does not require any knowledge about the drone’s construction, thus making it a universal tool. Calculated metrics show the Decision Tree is the most suitable algorithm among eight different ML methods due to its high energy prediction accuracy of at least 97.5% and a short learning time which was equal to 2 ms for the largest dataset.
3760. LAPSE:2023.9833
Numerical Simulation and Evaluation on Continuum Damage Models of Rocks
February 27, 2023 (v1)
Subject: Modelling and Simulations
Keywords: damage variable, numerical simulation, rock damage, strain softening, stress-strain curve
Damage mechanics play an important role in the analysis of rock deformation and failure. Numerous damage variables have been proposed and the corresponding continuum damage models were suggested. Knowing how to apply these theoretical models appropriately in numerical simulations is the key to whether they can be adopted to solve practical problems. The continuum damage models were grouped into empirical damage models, statistical damage models, and elastoplastic damage models in this article. Their applicability and limitations were studied according to some numerical simulations of the most basic uniaxial compression test of a cylinder rock sample. Three representative damage models were chosen from the literature and applied to FEM numerical simulations by introducing a self-developed program. The stress-strain curves due to damage were obtained from the numerical simulation results and compared to those from the experimental results. The damage distribution and evolution of differe... [more]
3761. LAPSE:2023.9832
Performance Simulation of the Active Magnetic Regenerator under a Pulsed Magnetic Field
February 27, 2023 (v1)
Subject: Modelling and Simulations
Keywords: active magnetic regenerator, performance investigation, pulsed magnetic field, thermodynamic cycle
Magnetic refrigeration is acknowledged as a potential substitute for the conventional vapor-compression refrigeration technology, owing to its high efficiency and environmental friendliness. Existing magnetic refrigeration systems are mostly based on permanent magnets, owing to the characteristics of lower magnetic field intensity, non-uniform magnetic field distribution, and lower operating frequency due to the moving parts, which results in a low cooling capacity and small temperature difference. Thus, this study proposes the application of a pulsed magnetic field, with a high intensity and frequency, to a magnetic refrigeration system to achieve a high performance. A verified numerical model is established to investigate the thermodynamic cycle and cooling performance of an active magnetic regenerator (AMR). The transient and steady-state performances of AMR under pulsed and permanent magnetic fields are compared. The results suggest that an AMR can establish a stable temperature di... [more]
3762. LAPSE:2023.9828
Transformer Leakage Inductance Calculation Method with Experimental Validation for CLLLC Converter Topology
February 27, 2023 (v1)
Subject: Modelling and Simulations
Keywords: current density, double Fourier series, leakage inductance, unified expression of leakage inductance calculation
Leakage inductance is one of the key parameters of a transformer, and it is often intentionally integrated into transformers. Rogowski’s equation is generally used for leakage inductance calculation; however, it is only applicable to concentric winding transformers where windings have the same height. Consequently, it has limited applications. This paper proposes a transformer leakage inductance calculation method using a double Fourier series. The limitation of Rogowski’s leakage inductance equation was analyzed in practical applications, and a new model for calculating the leakage inductance of a double-group-overlapping winding transformer was derived. Experimental prototypes of transformers were developed, and their simulation models were built in Ansys. The correctness of the proposed calculation method for transformer leakage inductance using a double Fourier series was verified by comparing the calculation results with the simulation and measured ones. A sensitivity analysis was... [more]
3763. LAPSE:2023.9824
Thermal Estimation and Thermal Design for Coupling Coils of 6.6 kW Wireless Electric Vehicle Charging System
February 27, 2023 (v1)
Subject: Modelling and Simulations
Keywords: loss calculation, magnetic coupler, thermal simulation, wireless electric vehicle charging system
Wireless electric vehicle charging technology is developing in the direction of high power levels. However, more generated heat brought by higher power will accelerate the system’s aging and can even lead to damage. An excellent thermal design for the magnetic coupler can reduce each part’s maximum temperature, ensuring long-term operation reliability. Therefore, in this article, the magnetic coupler’s thermal estimation and design are studied based on a 6.6 kW wireless electric vehicle charging system. First, the calculation method of internal resistance of a litz coil, core loss, and eddy current loss of a shielding aluminum plate are studied. Considering the influence of thermal fields on material properties, each part’s power loss calculation formula is further modified to improve the accuracy. After that, heat dissipation research is carried out. The heat dissipation measures, such as filling the surface of the shielding aluminum plate with thermal conductive silicone grease, are... [more]
3764. LAPSE:2023.9821
Comparative Study of Thermodynamic Regulation Characteristics in a Dual-Tube Reactor with an External Heat Exchanger
February 27, 2023 (v1)
Subject: Modelling and Simulations
Keywords: bypass, dual fluidized bed reactor, external heat exchanger, numerical simulation, thermodynamic characteristics
A special dual-tube reactor-dual fluidized bed reactor (DFBR), including an external heat exchanger (EHE) and a bypass, was designed to solve the problems that the waste heat of the hot fluid cannot be fully utilized and the reaction temperature cannot be accurately adjusted. Two connection schemes of DFBR and EHE with their thermodynamic equilibrium models and algorithms were proposed, and the optimal scheme was obtained by comparing the outlet temperature and thermal load. The results of the thermodynamic and operating characteristics of the optimal scheme showed that the hot fluid and the cold fluid had positive and negative effects on the heat transfer process, respectively. Increasing the cold fluid mass flow rate in the main stream can enhance the thermal load of the system and increasing the cold fluid mass flow rate in the bypass helped to increase the thermal load of DFBR, even exceeding that of EHE. Adding a bypass can adjust temperature precisely and increasing the inlet tem... [more]
3765. LAPSE:2023.9811
Research on Vehicle Aerodynamics and Thermal Management Based on 1D and 3D Coupling Simulation
February 27, 2023 (v1)
Subject: Modelling and Simulations
Keywords: aerodynamic performance, coupling simulation, grille, priority, thermal management performance
In order to ensure the full heat dissipation of heat exchangers, the opening of the grille should be large, which increases the wind drag of the whole vehicle. Most of the research on the grille only focuses on its impact on the heat dissipation of the engine compartment; there is little research on its influence on the performance of the thermal management system, because it is difficult to solve the real-time data interaction of different dimensional models. So we established the 1D and 3D strong coupling model. The biggest difference from other 1D and 3D coupling models is that we can use the interfaces reserved by the two kinds of software to realize real-time data interaction, and simultaneously analyze the 1D thermal management performance and 3D flow field and temperature field of the engine components. The coupling model is used to study three heat balance conditions. The results show that the heat-sinking capability of the cooling system is the worst under the climbing conditi... [more]
3766. LAPSE:2023.9804
Dynamic Modeling and Investigation of a Tunable Vortex Bladeless Wind Turbine
February 27, 2023 (v1)
Subject: Modelling and Simulations
Keywords: bladeless wind turbine, electromagnetic, energy harvester, spring–pendulum system, tunable, vortex-induced vibration
This paper investigates the dynamics of an electromagnetic vortex bladeless wind turbine (VBWT) with a tunable mechanism. The tunable mechanism comprises a progressive-rate spring that is attached to an oscillating magnet inside an electromagnetic coil. The spring stiffness is progressively adjusted as the wind speed changes to tune the turbine fundamental frequency to match the shedding frequency of the vortex-induced vibration (VIV) due to the wind flow crossing over the oscillating mast. Coupled nonlinear equations of motion of the tunable turbine are developed using the lumped-mass representation and Lagrange formulation. Numerical results show that the tunable turbine performs effectively beyond a threshold wind speed. An analytical expression of the threshold speed is derived based on the mechanical fundamental frequency of the turbine. The analytical results are in reasonable agreement with the numerical evaluations. At a given wind speed past the threshold, the tunable turbine... [more]
3767. LAPSE:2023.9793
Swirl-Bypass Nozzle for CO2 Two-Phase Ejectors: Numerical Design Exploration
February 27, 2023 (v1)
Subject: Modelling and Simulations
Keywords: bypass ejector, Carbon Dioxide, Computational Fluid Dynamics, swirl bypass, two-phase ejector
In this work, a novel ejector design concept of a swirl-bypass nozzle is proposed to improve off-design performance of CO2 two-phase ejectors. The swirl-bypass nozzle allows part of the flow to bypass into the ejector mixing chamber to generate swirl. The design of such a device is investigated using a 3D multiphase CFD model. An extensive experimental test campaign is conducted to validate the baseline homogeneous equilibrium CFD model. The model’s prediction motive mass flow rate within 2−12% error and suction mass flow rate was predicted with 3−50% error. Based on the tested ejector geometry, simulations of different ejector swirl-bypass inlets are conducted. The results show that, for the current design, total entrainment of the ejector is reduced by 2−20% with the swirl-bypass inlet. The axial position of the bypass inlet plays a primary role in the bypass inlet flow rate, and, consequently, in suction flow reduction. This is found to be due to the bypass flow blocking off the suc... [more]
3768. LAPSE:2023.9791
Modeling of Fuel Cells Characteristics in Relation to Real Driving Conditions of FCHEV Vehicles
February 27, 2023 (v1)
Subject: Modelling and Simulations
Keywords: current–voltage characteristics, fuel cell losses, Fuel Cells, fuel cells modeling, road tests
Fuel cells are one of the zero-emission elements of modern automotive drive systems. This article presents theoretical identification of the component parameters of indicators for the fuel cell operating conditions. Activation, ohmic, and mass transport losses were identified. Current−voltage characteristics were provided along with an analysis of typical cell losses. The actual performance characteristics of fuel cells were analyzed for Toyota Mirai I and II generation vehicles. The fuel cells operating conditions were derived and analyzed in the context of real driving conditions. Therefore, urban, rural, and motorway conditions were used. The vehicles were equipped with PEM fuel cells supplying power equal to 114 kW (1st gen.) or 128 kW (2nd gen.). The average fuel cell stack power values depend on the driving conditions: urban (about 10 kW), rural (20 kW) and motorway (about 30−40 kW) driving modes. The different power ratings of fuel cells combined with different battery generatio... [more]
3769. LAPSE:2023.9770
Heat Transfer Characteristics of an Aeroengine Turbine Casing Based on CFD and the Surrogate Model
February 27, 2023 (v1)
Subject: Modelling and Simulations
Keywords: aeroengine turbine casing, computational fluid dynamics (CFD), experiment, radiation heat transfer, Surrogate Model
A good turbine casing cooling design should control the thermal stress and maintain a reasonable tip clearance between the turbine blade and the casing. Since the turbine inlet temperature has been increased yearly, the influence of thermal radiation on the temperature of a turbine casing has become more significant. Therefore, the heat transfer characteristics of a turbine casing considering the radiation effect need to be precisely predicted. In this study, a theoretical model is established for describing the heat transfer characteristics of a turbofan casing, and the model’s effectiveness is verified by comparing the numerical and experimental results. Based on the validated model, the effects of single changes of the wall temperature, cooling air temperature, Reynolds number, and surface emissivity on the heat transfer of the casing are discussed. The results show that the increment of cooling air temperature and surface emissivity leads to the enhancement of the average radiative... [more]
3770. LAPSE:2023.9768
Methodologies for Synthetic Spatial Building Stock Modelling: Data-Availability-Adapted Approaches for the Spatial Analysis of Building Stock Energy Demand
February 27, 2023 (v1)
Subject: Modelling and Simulations
Keywords: bottom-up model, building stock modelling, spatial building stock modelling, synthetic building stock
Buildings are responsible for around 30 to 40% of the energy demand and greenhouse gas (GHG) emissions in European countries. Building stock energy models (BSEMs) are an established method to assess the energy demand and environmental impact of building stocks. Spatial analysis of building stock energy demand has so far been limited to cases where detailed, building specific data is available. This paper introduces two approaches of using synthetic building stock energy modelling (SBSEM) to model spatially distributed synthetic building stocks based on aggregate data. The two approaches build on different types of data that are implemented and validated for two separate case studies in Ireland and Austria. The results demonstrate the feasibility of both approaches to accurately reproduce the spatial distribution of the building stocks of the two cases. Furthermore, the results demonstrate that by using a SBSEM approach, a spatial analysis for building stock energy demand can be carried... [more]
3771. LAPSE:2023.9767
Valuation of the Extension Option in Time Charter Contracts in the LNG Market
February 27, 2023 (v1)
Subject: Modelling and Simulations
Keywords: Black–Scholes, LNG market, Machine Learning, option valuation, period extension option, time charter
A rapid transition toward a decarbonized economy is underway, following the Paris Agreement and the International Maritime Organization 2030 decarbonization goals. However, due to the high cost of the rapid transition to eco-friendly energy and the geopolitical conflict in eastern Europe, liquefied natural gas (LNG), which emits less carbon than other fossil fuels, is gaining popularity. As the spot market grows due to increased LNG demand, the usage of period extension options in time charter (T/C) contracts is increasing; however, these options are generally provided free of charge in practice, without economic evaluation; this is because some shipowners want to make their time charter contracts more attractive to the more credible charterers. Essentially, the reason for why this option has not been evaluated is because there is no reliable evaluation model currently used in practice. That is, research on the evaluation model for the T/C extension option has been insufficient. Theref... [more]
[Show All Subjects]

