Table 5: Estimated savings from reductions in serious incidents from each option Additional NPV Reduction in % Reduction in cost of 10 years, 7% average number serious Cost reduction Level of compliance ($ million) Option of serious incidents at end 10 years 7% ($) compliance Over 10 years incidents per of 10 7% year ($ million) 1: Status Quo 0% $0 Low $0 0 2: Model Code of 22.37% 68.11 $18 609 181 Medium $0 $18.609 Practice 3: Guide 9.56% 29.12 $7 755629 Low $0 $7.756 4: Model 28.14% 85.67 $23 706 298 Medium-High $13.201 $10.506 Regulations
Table 5: Estimated savings from reductions in serious incidents from each option Option % Reduction in serious incidents at end of 10 Reduction in average number of serious incidents per year Cost reduction 10 years 7% ($) Level of compliance Additional cost of compliance Over 10 years 7% ($ million) NPV 10 years, 7% ($ million) 1: Status Quo 0% $0 Low $0 0 2: Model Code of Practice 22.37% 68.11 $18 609 181 Medium $0 $18.609 3: Guide 9.56% 29.12 $7 755629 Low $0 $7.756 4: Model Regulations 28.14% 85.67 $23 706 298 Medium-High $13.201 $10.506
stevedoring-decision-regulation-impact-statement_1.docx