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Abstract
DKI Jakarta Province is a major consumer area in Indonesia. Due to almost all of the beef demand was supplied from other province and even different islands. One of problems regarding inter-island beef cattle distribution was using cargo ship that has not equipped with special facilities for livestock transportation. Accordingly government make the first investment of livestock vessel namely KM Camara Nusantara (CN) I to smooth livestock distributionto DKI Jakarta Province. The investment cost is very high. Therefore this research is intended to analyze the investment feasibility of livestock vessel KM CN I on nonfinancial aspects, financial and economic analyses. Nonfinansial aspect analysis reviewed from market, technical, management and legal, social economic and culture, and environment aspects. Financial and economic analyses use Cost and Benefit Analysis (CBA) which is economic analyses use shadow price. Nonfinancial aspects analysis indicates that the investment is feasible. Financial analysis show that the investment is not feasible based on NPV<0 for both route scenarios when returning to Tenau without cargo or carrying feed cargo. Meanwhile economic analysis for the livestock vessel, which is returning with feed cargo to Tenau is feasible based on NPV>0, B/C Ratio>1, IRR>discount rate and Payback Periode is 13.11 year.
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Copyright (c) 2019 Titik Triary Wijaksani, Rita Nurmalina, Burhanuddin Burhanuddin

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References
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- Hermawati. 2011. Analisis kelayakan finansial dan ekonomi terhadap pelabuhan Sumba Tengah. Jurnal Konstruksia. 3(1).
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- Naess P, Nocolaisen MS, Strand A. 2012. Traffic forecasts ignoring induced demand: a shaky fundament for Cost-Benefit Analyses. European Journal of Transport and Infrastructure Research. 12(3):291-309.
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- Pujawan, I.N. 2004. Ekonomi Teknik. Guna Widya. Surabaya.
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- Stanger KJ, Ketheesan N, Parker AJ, Coleman CJ, Lazzaroni SM, Fitzpatrick LA. 2005. The effect of transportation on the immune status of Bos Indicus steers. Journal of Animal Science. 83(11): 2632-2636.
- Tsimplokoukou K, Sfakianaki E, Metaxas G. 2012. A feasibility study approach for underground railways - a case study: line 4 of Athens metro. Global Journal of Engineering Education. 14(1).
- Warriss PD, Brown SN, Knowles TG, Kestin SC, Edwards JE, Dolan SK, Phillips AJ. 1995. Effects on cattle of transport by road for up to 15 hours. Journal of The Veterinary Record. 136(13):319-313.
- Warriss PD, Brown SN, Knowles TG, Kestin SC, Edwards JE, Dolan SK, Phillips AJ. 1995. Effects on cattle of transport by road for up to 15 hours. Journal of The Veterinary Record. 136(13):319-313.
- Winarso B. 2014. Peran angkutan laut dalam meningkatkan distribusi ternak sapi potong dari daerah produksi ke wilayah konsumen.Jurnal Penelitian Pertanian Terapan. 14 (2): 83-96.
- Wirasutama CP, Suthanaya PA, Wedagama DMP. 2015. Analisis kelayakan investasi angkutan pariwisata di Provinsi Bali. Jurnal Spektran. 3(1):12-24.
References
Arthington JD, Eicher SD, Kunkle WE, Martin FG. 2003. Effect of transportation and commingling on the acute-phase protein response, growth, and feed intake of newly weaned beef calves. Journal of Animal Science.81:1120–1125.
Arthington JD, Qiu X, Cooke RF, Vendramini JMB, Araujo DB, Chase CC Jr., Coleman SW. 2008. Effects of preshipping management on measures of stress and performance of beef steers during feedlot receiving. Journal of Animal Science. 86:2016-2023.
Adenkola AY, Ayo JO, Sackey AKB, Adelaiye AB. 2011. Eight hours road transportation and ascorbic acid administration effects on haematological parameters of pigs during the harmattan season. Agriculture and BiologyJournal of North America. 2(8): 1143-1150.
Badan Karantina Pertanian. 2017. Rekapitulasi Data Jumlah Ternak Sapi Lokal dan Impor Masuk ke BBKP Tanjung Priok (Jakarta), BBKP Soekarno Hatta (Jakarta/Banten), SKP Kelas I Bandung (Jawa Barat) dan BKP Kelas II Cilegon (Banten) Tahun 2015-2016. Jakarta (ID): Badan Karantina Pertanian.
Borjesson M, Eliasson J, and Lundberg M. 2014. Is CBA ranking of transport investments robust?.Journal of Transport Economics and Policy. 48(2):189–204.
Cernicchiaro N, White BJ, Renter DG, Babcock AH, Kelly L, Slattery R. 2012. Associations between the distance traveled from sale barns to commercial feedlots in the United States and overall performance, risk of respiratory disease, and cumulative mortality in feeder cattle during 1997 to 2009. Journal of Animal Science. 90:1929–1939. doi:10.2527/jaS4011-4599.
[Ditjen PKH] Direktorat Jenderal Peternakan dan Kesehatan Hewan.2017. Statistik Peternakan dan Kesehatan Hewan. Jakarta (ID): Direktorat Jenderal Peternakan dan Kesehatan Hewan.
Direktorat Jenderal Perhubungan Laut. 2016. Keputusan Direktur Jenderal Perhubungan Laut Nomor UM.008/93/10/DJPL.16 Tahun 2016. Jakarta (ID): Direktorat Jenderal Perhubungan Laut.
Engen NKV, Stock ML, Engelken T, Vann RC, Wulf LW, Karriker LA, Busby WD, Lakritz J, Carpenter AJ, Bradford BJ et al. 2014. Impact of oral meloxicam on circulating physiological biomarkers of stress and inflammation in beef steers after long-distance transportation. Journal of Animal Science. 92:498–510.
Gittinger J P. 1986. Analisa Ekonomi Proyek-Proyek Pertanian. Jakarta (ID): UI Press.
Grandin T, Shivley C. 2015. How farm animals react and perceive stressful situations such as handling, restraint, and transport. Animals. 5:1233-1251. doi:10.3390/ani5040409.
Grigor PN, Cockram MS, Steele WB, Le Sueur CJ. 2016. Effects of space allowance during transport and duration of mid-journey lairage period on the physiological, behavioural and immunological responses of young calves during and after transport. Journal of Animal Science. 73(2):341-360.
Hermawati. 2011. Analisis kelayakan finansial dan ekonomi terhadap pelabuhan Sumba Tengah. Jurnal Konstruksia. 3(1).
Ilham N, Yusdja Y. 2004. Sistem transportasi perdagangan ternak sapi dan implikasi kebijakan di Indonesia. Analisis Kebijakan Pertanian. 2(1):37-53.
Ilham N, Yusdja Y. 2004. Sistem transportasi perdagangan ternak sapi dan implikasi kebijakan di Indonesia. Analisis Kebijakan Pertanian. 2(1):37-53.
Kementerian Perhubungan Republik Indonesia.2016. Peraturan Menteri Perhubungan Republik Indonesia Nomor PM 26 Tahun 2016. Jakarta (ID): Kementerian Perhubungan Republik Indonesia.
Knowles TG, Warriss PD, Brown SN, Edwards JE. 1999. Effects on cattle of transport by road for up to 31 hours. The Veterinary Record. 145(20): 575-582.
Knowles TG, Warriss PD, Brown SN, Edwards JE. 1999. Effects on cattle of transport by road for up to 31 hours. The Veterinary Record. 145(20): 575-582.
Naess P, Nocolaisen MS, Strand A. 2012. Traffic forecasts ignoring induced demand: a shaky fundament for Cost-Benefit Analyses. European Journal of Transport and Infrastructure Research. 12(3):291-309.
Nurmalina R, Sarianti T, Karyadi A. 2014. Studi Kelayakan Bisnis. Bogor (ID): IPB Press.
Pujawan, I.N. 2004. Ekonomi Teknik. Guna Widya. Surabaya.
Sporer KRB, Weber PSD, Burton JL, Earley B, Crowe MA. 2008. Transportation of young beef bulls alters circulating physiological parameters that may be effective biomarkers of stress. Journal of Animal Science. 86:1325–1334. doi:10.2527/jas.2007-0762.
Stanger KJ, Ketheesan N, Parker AJ, Coleman CJ, Lazzaroni SM, Fitzpatrick LA. 2005. The effect of transportation on the immune status of Bos Indicus steers. Journal of Animal Science. 83(11): 2632-2636.
Tsimplokoukou K, Sfakianaki E, Metaxas G. 2012. A feasibility study approach for underground railways - a case study: line 4 of Athens metro. Global Journal of Engineering Education. 14(1).
Warriss PD, Brown SN, Knowles TG, Kestin SC, Edwards JE, Dolan SK, Phillips AJ. 1995. Effects on cattle of transport by road for up to 15 hours. Journal of The Veterinary Record. 136(13):319-313.
Warriss PD, Brown SN, Knowles TG, Kestin SC, Edwards JE, Dolan SK, Phillips AJ. 1995. Effects on cattle of transport by road for up to 15 hours. Journal of The Veterinary Record. 136(13):319-313.
Winarso B. 2014. Peran angkutan laut dalam meningkatkan distribusi ternak sapi potong dari daerah produksi ke wilayah konsumen.Jurnal Penelitian Pertanian Terapan. 14 (2): 83-96.
Wirasutama CP, Suthanaya PA, Wedagama DMP. 2015. Analisis kelayakan investasi angkutan pariwisata di Provinsi Bali. Jurnal Spektran. 3(1):12-24.