• Journal of Korea Port Economic Association
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• v.36 no.2
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• pp.63-86
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• 2020

The tax lease scheme for ships is an advanced ship financing tool that generates tax benefits through accelerated depreciation of capital allowances and transferring them to the ship operator (leasee) via reductions in rental payments. The scheme was introduced by Japan in 1978 and by France in 1998 to support their shipping and shipbuilding industries. The size of tax benefits varies by country depending on the depreciation rate for ships, corporate tax rate, and the tax system on profits from the sale of ship. This study uses a virtual model of the Korean tax lease scheme for ships based on the French tax lease scheme. The size of tax benefits is calculated and compared to those in the French and Japanese tax lease schemes. According to the analysis, the size of the tax benefit was approximately 19% for France, 14% for Japan, and 12% for Korea. This is differentiated by the country's depreciation rate and corporate tax rate, which have the greatest impact on the size of tax benefits. For the Korean virtual model, if the tax benefits are distributed by the operator and the investor at the rate of 75:25, the operator is expected to enjoy tax benefits equivalent to about 9% of the ship price and the investor to enjoy 3%. Despite limited information and data regarding the tax lease scheme for ships, this study was the first attempt in Korea to design a virtual model of the Korean tax lease scheme based on some predictable assumptions. Therefore, a group of shipping, financing, and legal experts will follow up on more professional and practical reviews of the model in the near future. Hence, this study will serve as a small contribution to the early introduction of the Korean tax lease scheme for ships.

• Journal of Korea Port Economic Association
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• v.36 no.3
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• pp.115-136
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• 2020

This study aims to analyze the impact of China's iron ore imports and exports on the tramper freight rate of China. The import volume of iron ore in China, the export volume of steel products in China, and exogenous variables were used as independent variables. The dependent variables were BDI, BCI, C5, C10, C14, BSI, S2, and S3. Correlation analysis and regression analysis were conducted. The correlation analysis showed that China's iron ore imports were not related to the remaining BDI, BCI, BSI, C5, C10, S2, and S3, except for the C14 index. However, there was a positive correlation between the ship's space and international oil prices, and it was not related to China's Purchasing Managers Index (PMI). The export volume of steel products was negatively correlated with BDI, BCI, BSI, C5, C10, C14, S2, S3, and international oil prices, and was not related to iron ore imports, ship space, and China's PMI. In the verification of the hypothesis between China's iron ore imports and exogenous variables, China's PMI was rejected within the hypothesis. However, the hypothesis on international oil prices and ship space was adopted. In the verification of the hypothesis between China's steel export volume and exogenous variables, the hypothesis on BDI and the S3 index was adopted, and the hypothesis on BSI and S2 was rejected. In the analysis results of this study, the ship space and oil prices were adopted in all the hypothesis results. Domestic companies participating in the tramper shipping market will need to be prepared through continuous monitoring of related indicators.

• Journal of Korea Port Economic Association
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• v.31 no.2
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• pp.41-53
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• 2015

In Paracomon Inc. v. Telus Communication, Realice's anchor became entangled with a working fiber-optic submarine cable during its voyage and are presentative of the shipowner(the captain) cut the cable. The owner of the cable brought a claim for the repair cost against the shipowner. The shipowner then advanced a third party claim against a liability insurance underwriter. The Supreme Court of Canada (SCC) held that the shipowner was entitled to limit its liability under the 1976 Convention on the Limitation of Liability for Maritime Claims. The SCC also ruled that even though the misdeed of the shipowner was insufficient to break its right to limitation of liability, its wrongdoing constituted willful misconduct under the 1993 Canada Marine Insurance Act, allowing the underwriter to deny coverage for the incident. Thecasewasthefirsttoaddresstheinterrelationship between the shipowner's right to limit liability under the international convention regime and the availability of liability insurance with respect to such limited liability. This study analyzes the reasoning behind the SCC's judgment and evaluates the appropriateness of this court's decision based on the current maritime industry as well as prevailing maritime law. It concludes that the SCC's decision to declare that the shipowner retained the right to limit its liability is appropriate under the Limitation Convention (1976). However, its declaration that the liability insurer was discharged from liability is not correct in due consideration of the common recognition in the maritime industry, the intended purpose of a third party's right against the liability insurer, and the adoption process of the conduct barring limitation. Based on the SCC's decision, this study finally reviews the issue of the shipowner's right to limit and the coverage of the liability insurer in the Sewol case (2014).

• Journal of the Korean Institute of Navigation
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• v.19 no.3
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• pp.35-65
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• 1995

The development of Korean shipping industry is maybe defined into three development stages-industry fixing stage, industry coordinating stage, industry development stage-. The development of shipping industry has been depended on the geovernment/authority role such as shipping policy, system, law, rules and regulations. In 1983, Korean shipping industry reorganization and coordination by shipping authority have made our shipping industry on the stable condition together with each company's efforts. Today's world economic environment such WTO/UR negotiation results get this government role limited. According to the being reduced government role, each company's competitive advantage power becomes more important. Besides, korean shipping industry is exposed into the entire and bitter world competition. In order to win and prevent the world shipping competition, it is necessary to look out the competitive advantage power of Korean shipping industry. The first purpose of this study is the situation analysis for competitive advantage power of Korean shipping industry. The second is to compare with our shipping policies with foreign ones concerned with ship, cargo, crew, tax and others. But in order to compare with foreign shipping, this study need their shipping statistics data, this study has some limit of the foreign data. This study has been carried on the basis of the following items. 1. Shipping environment, 2. Ships and ship acquirement(shipbuilding/purchasing), 3. Oceangoing cargo and ship's stowage rate, 4. Human factor in shipping-crew, 5. The incomes and costs in finacial statements. We have some conclusions as following through the this study. First, Korean shipping industry environment-competitive disadvantage situation- has changed rapidly due to the shipping market opening, free market entering of foreign shipping. Second, Korean shipping is disadvantageous due to the high tax rate and financing conditions in connection with ship acquirement. In order to improve the competitive advantage power, the shipping tax system and ship financing conditions should be reviewed to profitable for owners. Third, but both world and Korean oceangoing cargoes quantity have been increased annualy, Korean ship's cargo stowage rate is being decreased. This is serious situation but Korean shipping take well use of foreign vessel with hire. It is recommended to take use of owner's vessel and hired ones in the long range view, considering the world shipping management. But the number of crew has been decreased by 2, 000~3, 000 annualy, it is desirable that the long sea-experienced crew have been increased. Almost of owners usauly complain the crew cost is the main obstacles to competitive advantage power. Human factor is the most important firm's asset. All owners should pay attention to this though, and invest the proper budget to training, education, welfare as much as possible. In the long run this effects could be feedback to owners. Fifth, We must improve the financial statements structure, that is, the first step is to increase income, the second is to decrease cost, the third is to increase income on the same cost, the fourth is to decrease cost on the same income. It is essential to find out what the urgent investment is and what unnecessary cost is. At last, in order to competite world shipping race, each shipping firm must try for himself to retain the power. The government/authority is no longer dependable. I believe that each firm's power will be the industry's power, the industry's power will be the nations's power.

• International Commerce and Information Review
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• v.16 no.1
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• pp.207-226
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• 2014

A trade logistic informatization system under Open Systems Interconnection(OSI) includes a Port Management Information System, a Maritime Information System, and an Export and Import Batch Processing System. These have made a great contribution in the creation of more convenient and efficient management for the logistics industries in our country. However, this management is exposed to the technological problems of networks due to the explosive use in the sending and receiving of e-documents. For our country to grow as a center for port and logistic information, we should make the best use of the control systems using networks and further advance the export and import logistic systems. Therefore, this study aims to propose management systems for a composite network and an invasion detection system for efficient management of an e-trade network under OSI. Methods to rationalize the internal organizations such as coordination of organizations and human resources according to alloted network functions, commissions and arbitrary decisions, and reorganization of relevant regulations are not discussed here. This study looked at trade network under OSI from the aspect of practical business affairs and presented a basis for further interpretation.

• Journal of Environmental Policy
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• v.8 no.1
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• pp.97-127
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• 2009

In Germany, North Sea and East Sea possess significant meaning in many aspects. North coast has an important economical significance to North Sea Gulf States. There are a number of harbors and manufacturing facilities in this area. Agriculture is also developed. East sea, where sea water and river water mingle. has a problem that it can not control harmful substances as fast as the North Sea due to its geographical location of being connected with the North Sea as a narrow water. To protect from big and small ship accidents and pollution sources, East Sea and North Sea have enacted HELKOM Convention and OSPAR Convention, respectively. Moreover, Denmark and Germany have made cooperation on tugboats in the occurrence of shipment accidents through the LethGer-Plan and DenGer-Plan. In 1998, after the Pallas accident that occurred near Bremen, the need to improve cooperation among each states on usable resources for ocean security has been increased in Germany. Consequently, the federal government and gulf state governments associated and organized the so called, "Havarie-Kommanando Ship Accident Measure Unit". Haravarie-Kommanando is a federal-state associated organization that deals with affairs that controls national operation and mobilization of ship accident related organizations unitively when serious ship accidents occur. Moreover, federal and state participant organizations, each shipping agencies and Wiking-Helicopers-Services, a helicopter agency, are cooperating well. Also, mutual assistance with the most prominent passenger agency called Scandlines, ARGE Kuestenschutz(Germany-Denmark shipping agency) is making progress as well.

• Journal of the Korean Institute of Navigation
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• v.21 no.3
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• pp.1-18
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• 1997

From the beginning of 1990s , also in the shipping industry, especially liner shipping industry competition has been more intensive and difference of the service quality among shipping companies has been learned . On the other hand, a shipping company has some limitations to do its international mission for itself just by broadening service area. For this reason, the necessity for the global strategi alliance among the shipping companies, which is orginally aimed at sharing of facilities and organixation, has been developed. Through strategic alliance, liner shipping companies do not need to input the additional capitals to increase the material assets such as vessel capacity and spread the risk by the enlargement of the market. Also, they can secure the competitive edge through efficient utilizaton of assets. The purpose of strategic alliance of Hanjin Shipping Ltd., can be summarized as follows ; broadening of service area, cost reduction through vessel sharing, realization of rationalized shipping service by terminal and equipment or facilities sharing. Liner strategic alliances are agreement among liner companies to pol their equipment , andterminals for joint operations and services in which each alliance partner continues to serve its market using jointly operated or used inland feeders,inland terminals, port terminals, and mainline fleets of ship as well as joint pools of containers and equipment. Strategic alliances are generally more formal agreements than consortia and impose longer term and far reaching obligation on their members. It also acts as one in developing and advancing the strategic aims of the alliance members. The most important objective for liner strategic alliances is cost reduction and improvement in capital asset utilization. Main aims of strategic alliance drawn in this paper, can be enumerated follows : 1. improvements in service frequency and quality : 2. improvements in vessel and equipment utilization and thereby reductions in fixed and variable cost ; 3. improvements in market shares and high value cargo booking ; 4. reductions in intermodal storage and port terminal throughput costs ; 5. improvements in negotiating powers with ports and feeder transport providers ; 6. reduction in financial and other fixed costs such as insurance; 7. coordination and integration of MIS and EDI systems and service for greater efficiency and market penetration ; and, 8. improvements in logistic chain management and economic of scale by equipment depot, terminal, and vessel sharing.

• KSCE Journal of Civil and Environmental Engineering Research
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• v.31 no.2D
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• pp.267-274
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• 2011

In this study, around Jeju area where climatic change is most considerably appearing in Han Peninsula, we prepared sea level rise height caused by sea level rise (Seogwipo 5.6 mm/yr, Jeju 5.3 mm/yr) and a sea level rise scenario for the case when an enlarged typhoon attacks during high water ordinary spring tide, and evaluated flooding area and effect on road and facility using Digital Elevation Model(DEM) and GIS Spatial Analysis Technique. As a result, the flooding areas were shown to be 2.9 $km^2$ in 2040, 5.4 $km^2$ in 2070, and maximum 5.4 $km^2$ in 2100. Analyzing the effect of flooding on each type of road, the local roads(Gun-do) were shown to be mostly affected. The most flood effected facilities were individual houses. Especially, as there is a possibility for casualties to occur due to disaster in Hwabuk-dong because the effect of flooding on individual houses in this area was shown to be high. In addition, flood on port facilities will considerably affect logistic and marine activities. This study is thought to be a basic data which can be utilized for establishment of strategic coping measures and policies of government affiliated organizations through analysis of effect of sea level rise on construction field.

• Journal of the Korean Society of Marine Environment & Safety
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• v.25 no.2
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• pp.201-211
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• 2019

Safety and security measures in the shipping industry play a pivotal role in ensuring efficient and reliable cargo and passengers operations at each stage of the supply chain. The ISPS Code was adopted into SOLAS convention to protect seafarers and vessels from security threats. Furthermore, according to the Manila amendments to STCW Convention in 2010, personnel employed on board are required to participate in security training. Effective seafarers' education and training programs are of major importance to guarantee satisfactory performance levels onboard to minimize security-related risks. The study's contribution focuses on empirically evaluating the relationship between personal level of awareness and security performance when seafarers undertake security training courses. Findings of this study suggest that (1) seafarers who undertake maritime security training have a higher awareness of ship security, (2) security training and security awareness have a positive influence on security performance, and (3) security awareness mediates the impact of security training and security performance. In conclusion, education and training programs are key tools in enhancing seafarers' security awareness and security performance which, from an industry viewpoint, can translate into major economic, operational and reputational benefits.

• Journal of the Korean Society of Marine Environment & Safety
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• v.28 no.5
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• pp.764-772
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• 2022

The shipping and port industries have traditionally been male-centered, and although the scope of entry for female mariners is increasing, the proportion of female workers is still low. However, research on career barriers and career decision levels in this industry has not yet been conducted. This study can explain the dif iculties in career development experienced by women in this industry and comprehensively explain the socio-cultural context or environmental factors to which the individual belongs in order to improve it. The purpose of this study was to derive career barrier factors and investigate how they affect career decision levels among female students enrolled in M University's Maritime College. The career barriers perceived by female students at Maritime College were derived from gender discrimination (GD), career undecided and lack of preparation (IOU), work-family conflict (WFC), lack of individual characteristics (LPQ), and lower-than-expected job prospects (LOE). As a result of analyzing how the derived career barrier factors af ect the career decision level, it was found that IOU had a significant negative effect on the career decision level. GD, WFC, LPQ, and LOE did not have a significant effect on career decision level. The study conclusions can be used as important data for career guidance and counseling for female maritime college women who want to overcome career barriers and improve their career decision-making levels.