Marshall and Swift cost indexes

As indicated above, packed column internals include hqiiid distributors, packing support plates, redistributors (as needed), and holddown plates (to prevent movement of packing under flow conditions). Costs of these internals for columns with random packing are given in Fig. 14-80, based on early 1976 prices, and a Marshall and Swift cost index of 460. 

A large amount of cost data is presented in tabular and graphical form. The table of contents for the book lists chapters where equipment cost data are presented, and additional cost information on specific items of equipment or operating factors can be located by reference to the subject index. To simplify use of the extensive cost data given in this book, all cost figures are referenced to the all-industry Marshall and Swift cost index of 904 applicable for January 1, 1990. Because exact prices can be obtained only by direct quotations from manufacturers, caution should be exercised in the use of the data for other than approximate cost-estimation purposes. 

The two major costs associated with evaporators, as with any process equipment, are capital investment and operating costs. The best estimate of the installed cost of evaporation systems is, of course, a firm bid from a vendor. The installed cost, however, can be estimated based on the heat transfer surface area, as in Peters and Timmerhaus. Costs taken from published references must be adjusted for changes subsequent to the time of publication. To do this, one may use an index such as the Marshall and Swift allindustry index. The value of this index is published each month in Chemical Engineering, a McGraw-Hill publication. Further information on the use of this and other cost indices as well as their histories are available, for example, in Peters and Timmerhaus and Ulrich.f Variation of purchased evaporator costs with material of construction and pressure can also be found in Ulrich. ... 

The Marshall and Swift (M S) Equipment Cost Index (6), formerly Marshall and Stevens, for installed equipment costs is pubHshed monthly in the ChemicalPngineering]om n. A. The indexes reported are the all-industries, process industries, and several specific industry indexes. The yearly all-industries index, given in Table 1, is based on 47 industrial categories. This is commonly used for the translation of purchased process equipment costs, even though... 

Table 9-42 presents information on some cost indices for the United States. Engineering News-Record updates its construction-cost index in March, June, September, and December. The Oil and Gas Journal gives the Nelson-Farrar refinery indices in the first issue of each quarter. The Chemical Engineering plant-cost index and Marshall and Swift equipment-cost index are given in each issue of the pubhcation Chemical Engineering. Derivation of the base values is referred to in the respective publications. 

Typical methods are those of F. C. Zevnik and R. L. Buchanan [Chem. Eng. Progi , 59, 70-77 (Feb. 1963)] and J. H. Taylor Eng. 6-Proc. Econ., 2, 259-267, 1977). The former is mainly a graphical method of estimating the cost per functional unit (Cp) based on the capacity, the maximum pressure, the maximum temperature, and the materials of construction. The Taylor method requires the determination of the costliness index, which is dependent on the complexity of the process. A simpler method was suggested by S. R. Timms (M.Phil. thesis, Aston University, England, 1980) to give the battery hmits cost for gas phase processes only in U.S. dollars with a Marshall and Swift index of 1000. The simple equation is... 

Cost data for shell-and-tube exchangers from 15 sources were correlated and found to be consistent wrien scaled by the Marshall and Swift index [Woods et al., Can. J. Chem. Eng., 54, 469-489 (December 1976)]. 

Costs of shell-and-tube heat exchangers can be estimated from Fig. 11-41 and Tables 11-13 and 11-14. These 1960 costs should be updated by use of the Marshall and Swift Index, which appears in each issue of Chemical Engineering. Note that during periods of high and low demand for heat exchangers the prices in the marketplace may vary significantly from those determined by this method. 

Various cost indices are published regularly. A conunonly used index is the Marshall and Swift (M S) equipment cost index published in the monthly magazine Chemical Engineering. For atmospheric pollution control equipment, the Vatavuk cost index may be used (Vatavuk, 1995). It is not recommended to use cost indices if the updating period exceeds ten years. 

Marshall and Swift Equipment Cost Index [57]. Commonly used for process industry equipment and index numbers presented by industries in Chemical Engineering Magazine on a monthly basis. 

Chemical Engineering Plant Cost Index and Marshall and Swift (M S) Equipment Cost Index appear regularly in Chemical Engineering,... 

A composite index for the United States process plant industry is published monthly in the journal Chemical Engineering, the CPE plant cost index. This journal also publishes the Marshall and Swift index (M and S equipment cost index), base year 1926. The CPE index over a ten-year period is shown in Figure 6.1 b. 

The year chosen as a base is one that is close to normal. War years and periods of inflation or depression are avoided. The Marshall and Swift Index uses 1926 as a base. The Chemical Engineering Plant Cost Index uses an average of 1957-1959, and the Construction Cost Index uses 1913. 

Marshall and Swift Equipment Cost (formerly Marshall and Stevens Index) Chemical Process Industries Output Chemical Engineering... 

The cost of equipment or of a complete plant must be up-graded to account for the reduced purchasing power of the dollar (or pound) from a given time datum to the present. Various cost indices are published annually (and monthly, see Chemical Engineering magazine). Those of particular relevance to chemical plant costs are the Nelson Refinery Construction Index, Chemical Engineering (CE) Plant Cost Index, and the Marshall and Swift (M S, previously Marshall and Stevens) Equipment Cost Index. These indices apply to complete plants rather than individual items of equipment. The appropriate equation is C2 = C, (I2/I ), where Zis the relevant index, and the suffixes represent different time periods. 

Many different types of cost indexes are published regularly. Some of these can be used for estimating equipment costs others apply specifically to labor, construction, materials, or other specialized fields. The most common of these indexes are the Marshall and Swift all-industry and process-industry equipment indexes, the Engineering News-Record construction index, the Nelsotl-Fatrar refinery construction index, and the Chemical Engineering plant cost index. Table 3 presents a list of values for various types of indexes over the past 15 years. 

The Marshall and Swift indexes are based on an index value of 100 for the year 1926. These indexes take into consideration the cost of machinery and major equipment plus costs for installation, fixtures, tools, office furniture, and other minor equipment. All costs reported in this text are based on a Marshall and Swift all-industry index of 904 as reported for January 1, 1990 unless indicated otherwise. 

For use with process-equipment estimates and chemical-plant investment estimates, the Marshall and Swift equipment cost indexes and the Chemical Engineering plant cost indexes are recommended. These two cost indexes give very similar results, while the Engineering News-Record construction cost index, relative with time, has increased much more rapidly than the other two because it does not include a productivity improvement factor. Similarly, the Nelson-Farrar refinery construction index has shown a very large increase with time and should be used with caution and only for refinery construction. 

The purchased cost of a 50-gal glass-lined, jacketed reactor (without drive) was 8350 in 1981. Estimate the purchased cost of a similar 300-gal, glass-lined, jacketed reactor (without drive) in 1986. Use the annual average Marshall and Swift equipment-cost index (all industry) to update the purchase cost of the reactor. 

Solution. Marshall and Swift equipment-cost index (all industry)... 

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