• Journal of Korea Port Economic Association
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• v.32 no.4
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• pp.89-107
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• 2016

It is a critical problem of the Busan container cargo market that serious competition between the north port terminal and the new port terminal is weakening port of Busan's competitiveness. To avoid this serious competition, Busan Port Authority(BPA) has executed a cargo-rate approval system from last year. However if Busan's container terminal operators do not accept this system, the execution performance will be insufficient. Therefore, the purpose of this study is to test the effect of cargo-rate approval in the Busan container cargo market. To attain this research purpose, the current situation was analyzed and the existing papers were investigated. Therefore, cargo-stabilizing factors were extracted and the moderated effect between these factors and cargo-rate approval was tested. The results are as follows. First, three cargo stabilizing factors-(market structure, market behavior, and BPA)-appear to have a strong positive impact on the stabilizing effect; however, the factors that are handled by the operators can not influence the stabilizing effect. In particular, market behavior factors, such as cargo-rate dumping restriction, contributed to stabilizing cargo market. Second, The results appear to have a strong positive impact on the moderated effect as well as the cargo-rate approval. These research results show that the execution of cargo-rate approval is important in stabilizing the cargo market. Therefore, stabilizing the cargo market will contrubute to improving the image and bargaining power of the Port of Busan.

• Journal of Navigation and Port Research
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• v.42 no.6
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• pp.529-538
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• 2018

The port industry is an important national industry which significantly affects Korea's imports and exports which are centered on economic structure. For instance, the Port of Busan, which handles 75% of domestic container freight volume, is expected to become increasingly critical for container liner routes. For this reason, there have been continued efforts to expand freight service to attract international freight volume. This study analyzes the structural characteristics of the port network connected to the Port of Busan by analyzing the pattern of the container liner route from 2012 to 2016 by using social network analysis. According to the Port of Busan's liner route network, the port with the highest degree of centrality, closeness centrality, and betweenness centrality was found to be the Port of Singapore. The comparison of Busan's annual container handling rank by countries and the port center network analysis of Port of Busan rank was found to be different. As a result, it was established that China's East Port, which occupies a high percentage of the volume of cargo handled by Port of Busan, is not a hub port of Busan when viewed on the Busan's container terminal liner network. In addition, even if the number of Port of Busan container liner service increases, it is estimated that the vessels to be added to the fleet will be limited to small to medium sized, or that Busan port has characteristic of a feeder port for the Port of Singapore, according to the network.

• Journal of Korea Port Economic Association
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• v.35 no.1
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• pp.139-162
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• 2019

In the case of Korea, policy support for shipping companies is limited, and the financial support should address the scale and period of support. Comprehensive measures are needed to boost the chances of reviving the industry. In order to secure competitiveness, the shipping companies need to make continuous efforts, prepare for the future by strengthening environmental regulations, and ensure that they have the ability to be flexible in their responses. The shipbuilding industry witnessed some improvement last year amid severe recession, but reforms are needed to address external and internal structural problems; further, to gain the characteristics of future leading industries, it is necessary to secure core technologies, as well as differentiated and specialized industrial competitiveness among rival countries through joint government intervention and joint R&D investment. Taking these steps will ensure that it has environment-friendly vessels and economic shipbuilding capabilities. The competitiveness of Busan Port should enable the utilization of the geopolitical characteristics of East Asia and contribute to: regional economic revitalization; development of its status as hub port; and securing the position of developed countries in East Asian logistics. For this purpose, it is necessary to establish a strategy to: expand the usability of shipowners/carriers; improve the quality of port operations; improve the portability of the smart system; expand the port of mega-ocean carriers; speed up port operations; and create low-cost ports. The establishment of a network of four countries will also require long-term global linkages. For example, there is a need to establish a logistics network between Eurasia and the European region, which will use the Russian Land Bridge System, as well as that of China.

• Journal of Korea Port Economic Association
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• v.38 no.3
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• pp.15-28
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• 2022

Bunkering refers to the supply of bunker fuel necessary for the ship operation, as well as minimizing the price and supply cost of fuel itself, and includes supplying good quality fuel oil in a timely manner and at the optimal port. Bunkering is an important criterion in terms of cost for shipping companies because bunkering involves a significant cost to the purchaser of bunkering from the time of initial purchase. This study aims to prioritize selection criteria for tramper companies to call port for bunkering. For this study, the variables were selected by analyzing the common criteria such as price, location, bunker quality and service and infrastructure etc. employed in previous studies. The AHP method was employed to prioritize the criteria in order. As a result of the analysis, the high level factors appeared in the order of price, location, bunkering quality and port service and infrastructure factors. The importance of price criterion and location criterion was found to be high. In the low level criterion of price, the bunker price per MT was ranked first in importance. In terms of location criteria, the location on the main trade route was high. In the low criteria of bunker quality and port service, the bunkering available types and bunker quality were found to be important factors, and in the low level criteria of infrastructure, anchorage and availability of bunkering during loading and discharging and port security factors were found to be important criteria. This study provides the guidelines for research designed to compare the bunkering port selection factors and to derive their importance suggesting the ways to enhance competitiveness as a bunkering port.

• Proceedings of the Korean Institute of Navigation and Port Research Conference
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• 2023.05a
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• pp.121-122
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• 2023

As containerized maritime transport began in earnest, the size of container ships has steadily increased, and recently, the operation of 24,000 TEU-class vessels has become regular. However, concerns about the efficiency and productivity of such mega container ships from a port operational perspective have continued to be raised. The 10^th Busan International Port Conference requested an in-depth study on the trends of container ship enlargement by analyzing the order status of ultra-large container ships from major global liners. Generally, the factor that drives the upsizing of ships is the realization of economies of scale that lowers transportation costs per TEU, which leads to a higher level of cost reduction per unit transportation compared to the increase in fuel consumption due to transporting large amounts of cargo with a single ship. However, it is necessary to examine whether this trend of container vessel enlargement is feasible for port operations. To this end, this study compares and analyzes the productivity and efficeiency of different ship sizes to evaluate the effect of ship size on port operations.

• Proceedings of the Korean Institute of Navigation and Port Research Conference
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• 2023.11a
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• pp.72-73
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• 2023

As containerized maritime transport began in earnest, the size of container ships has steadily increased, and recently, the operation of 24,000 TEU-class vessels has become regular. However, concerns about the efficiency and productivity of such mega container ships from a port operational perspective have continued to be raised. The 10th Busan International Port Conference requested an in-depth study on the trends of container ship enlargement by analyzing the order status of ultra-large container ships from major global liners. Generally, the factor that drives the upsizing of ships is the realization of economies of scale that lowers transportation costs per TEU, which leads to a higher level of cost reduction per unit transportation compared to the increase in fuel consumption due to transporting large amounts of cargo with a single ship. However, it is necessary to examine whether this trend of container vessel enlargement is feasible for port operations. To this end, this study compares and analyzes the productivity and efficeiency of different ship sizes to evaluate the effect of ship size on port operations.

• Journal of Korea Port Economic Association
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• v.39 no.4
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• pp.107-125
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• 2023

The pace of sustainability transition within the maritime industry has been accelerating. This shift primarily necessitates changes in the industry's heavy reliance on fossil fuel-driven ecosystems. Additionally, numerous sustainability laws and regulations, such as the EU's CBAM and IMO's EEXI, have been implemented. This transition is poised to amplify the competitive edge of firms equipped with greater resources, as it introduces substantial operational burdens due to expensive eco-friendly fuel adoption and regulatory compliance. To diverge from the traditional competitive landscape, this paper aims to explore innovative maritime finance models enabling domestic firms to gain competitive advantages on a global scale. Employing analogical reasoning and modeling as a research method, this paper demonstrates that maritime firms can leverage the sustainability transition by aligning sustainable maritime operations with ETS (Emission Trading Schemes). Expanding on this novel approach, the paper delves into potential connections between CCM (Compliance Carbon Market), VCM (Voluntary Carbon Market), and digital asset exchanges. This newly proposed digital/net-zero maritime ecosystem holds the potential to significantly impact the shipping, shipbuilding, and ship finance industries, positioning Busan as a sustainable maritime finance hub. This study holds significance as pioneering research that may stimulate subsequent case-based studies and offer strategic guidance to market participants and policymakers as the maritime industry moves towards a net-zero transition