• Title/Summary/Keyword: Full-Rate

Search Result 1,791, Processing Time 0.033 seconds

Insulin-like growth factor가 소장 점막 세포 증식에 미치는 영향

  • 윤정한
    • Proceedings of the Korean Nutrition Society Conference
    • /
    • 1995.11b
    • /
    • pp.11-34
    • /
    • 1995
  • Growth hormone (GH) plays a key role in regulating postnatal growth and can stimulate growth of animals by acting directly on specific receptors on the plasma membrane of tissues or indirectly through stimulating insulin-like growth factor (IGF)-I synthesis and secretion by the liver and other tissues. IGF-I and IGF-Ⅱ are polypeptides with structural similarity with proinsulin that stimulate cell proliferation by endocrine, paracrine and autocrine mechanisms. The initial event in the metabolic action of IGFs on target cells appears to be their binding to specific receptors on the plasma membrane. Current evidence indicates that the mitogenic actions of both IGFs are mediated primarily by binding to the type I IGF receptors, and that IGF action is also mediated by interactions with IGF-binding proteins (IGFBPs). Six distinct IGFBPs have been identified that are characterized by cell-specific interaction, transcriptional and post-translational regulation by many different effectors, and the ability to either potentiate or inhibit IGF actions. Nutritional deficiencies can have their devastating consequence during growth. Although IGF-I is the major mediator of GH's action on somatic growth, nutritional status of an organism is a critical regulator of IGF-I and IGFBPs. Various nutrient deficiencies result in decreased serum IGF-I levels and altered IGFBP levels, but the blood levels of GH are generally unchanged or elevated in malnutrition. Effects of protein, energy, vitamin C and D, and zinc on serum IGF and IGFBP levels and tissue mRNA levels were reviewed in the text. Multiple factors are involved in the regulation of intestinal epithelial cell growth and differentiation. Among these factors the nutritional status of individuals is the most important. The intestinal epithelium is an important site for mitogenic action of the IGFs in vivo, with exogenous IGF-I stimulating mucosal hyperplasia. Therefore, the IGF system appears to provide and important mechanism linking nutrition and the proliferation of intestinal epithelial cells. In order to study the detailed mechanisms by which intestinal mucosa is regulated, we have utilized IEC-6 cells, an intestinal epithelial cell line and Caco-2 cells, a human colon adenocarcinoma cell line. Like intestinal crypt cells analyzed in vivo or freshly isolated intestinal epithelial cells, IEC-6 cells and Caco-2 cells possess abundant quatities of both type Ⅰ and type Ⅱ IGF receptors. Exogenous IGFs stimulate, whereas addition of IGFBP-2 inhibits IEC-6 cell proliferation. To investigate whether endogenously secreted IGFBP-2 inhibit proliferation, IEC-6 cells were transfected with a full-length rat IGFBP-2 cDNA anti-sense expression construct. IEC-6 cells transfected with anti-sense IGFBP-2 protein in medium. These cells grew at a rate faster than the control cells indicating that endogenous IGFBP-2 inhibits proliferation of IEC-6 cells, probably by sequestering IGFs. IEC-6 cells express many characteristics of enterocyte, but do not undergo differentiation. On the other hand, Caco-2 cells undergo a spontaneous enterocyte differentiation. On the other hand, Caco-2 cells undergo a spontaneous enterocyte differentiation after reaching confluency. We have demonstrated that Caco-2 cells produce IGF-Ⅱ, IGFBP-2, IGFBP-3, and an as yet unidentified 31,000 Mr IGFBP, and that both mRNA and peptide secretion of IGFBP-2 and IGFBP-3 increased, but IGFBP-4 mRNA and protein secretion decreased after the cells reached confluency. These changes occurred in parallel to and were coincident with differentiation of the cells, as measured by expression of sucrase-isomaltase. In addition, Caco-2 cell clones forced to overexpress IGFBP-4 by transfection with a rat IGFBP-4 cDNA construct exhibited a significantly slower growth rate under serum-free conditions and had increased expression of sucrase-isomaltase compared with vector control cells. These results indicate that IGFBP-4 inhibits proliferation and stimulates differentiation of Caco-2 cells, probably by inhibiting the mitogenic actions of IGFs.

  • PDF

Effects of Harvest Timing and Storage Conditions on Ear Quality of Waxy Corn (찰옥수수 수확시기 및 저장조건이 이삭 품질에 미치는 영향)

  • Oh, Se-Yun;Shim, Doo Bo;Song, Seon-Hwa;Park, Chan-Young;Shin, Jong-Moo;Shim, Sang In
    • KOREAN JOURNAL OF CROP SCIENCE
    • /
    • v.61 no.4
    • /
    • pp.277-282
    • /
    • 2016
  • The consumption of waxy corn is steadily increasing in Korea. Waxy corn is harvested before it reaches full maturity and consumed immediately or follwing cold storage. Glutinous and sweet kernels are preferred due to their high palatability. The kernel properties can change rapidly following harvest, and, therefore, optimal conditions to maintain the kernel quality of corn should be identified. In addition, the timing of harvest of waxy corn ear should be also determined for optimal marketable corn production. From 10 days after silking (DAS) to25 DAS. fresh ear weight and single kernel weight rapidly increased from 78.3 g and 1.13 g, respectively, to 224.9 and 3.61 g, respectively. However, by 30 DAS both fresh and single kernel weight decreased by 10.6% and 6.1%, respectively. Kernel hardness significantly increased up to 25 DAS, and a further slight increase in kernel hardness was observed at 30 DAS. Total sugar content in kernel decreased from 12.5% at 10 DAS to 3.5% at 35 DAS, which was the result of the conversion of sugars to starch during ear development. Crude protein content in kernel did not vary significantly in comparison to kernel hardness. During storage of ear, kernel hardness increased from $726g\;cm^{-2}$ at harvest to $1894g\;cm^{-2}$ following 28 days of storage at a low temperature ($0^{\circ}C$). Kernel hardness increased 2.5 fold from 15 DAS to 30 DAS. Soluble protein level in kernel increased until 10 DAS, following which a slight decrease was observed. The soluble protein content decreased from 1.85% at 5 DAS to 1.45% at 35 DAS. Total sugar content in kernel decreased regardless of storage temperature; however, the rate of reduction was lower at $0^{\circ}C$ than that observed following storage at $4^{\circ}C$ and $10^{\circ}C$. The rate of reduction in kernel moisture content was also lower at $0^{\circ}C$ than that observed at $4^{\circ}C$ and $10^{\circ}C$.

Phase Image Analysis in Conduction Disturbance Patients (심실내 전도장애 환자에서의 $^{99m}Tc$-RBC Gated Blood-Pool Scintigraphy을 통한 Phase Image Analysis)

  • Kwak, Byeng-Su;Choi, Si-Wan;Kang, Seung-Sik;Park, Ki-Nam;Lee, Kang-Wook;Jeon, Eun-Seok;Park, Chong-Hun
    • The Korean Journal of Nuclear Medicine
    • /
    • v.28 no.1
    • /
    • pp.44-51
    • /
    • 1994
  • It is known that the normal His-Purkinje system provides for nearly synchronous activation of right (RV) and left (LV) ventricles. When His-Purkinje conduction is abnormal, the resulting sequence of ventricular contraction must be correspondingly abnormal. These abnormal mechanical consequences were difficult to demonstrate because of the complexity and the rapidity of it's events. To determine the relationship of the phase changes and the abnormalities of ventricular conduction, we performed phase image analysis of $^{99m}Tc$-RBC gated blood pool scintigrams in patients with intraventricular conduction disturbances (24 complete left bundle branch block (C-LBBB), 15 complete right bundle branch block (C-RBBB), 13 Wolff-Parkinson-White syndrome (WPW), 10 controls). The results were as follows; 1) The ejection fraction (EF), peak ejection rate (PER), and peak filling rate (PFR) of LV in gated blood pool scintigraphy (GBPS) were significantly lower in patients with C-LBBB than in controls ($44.4{\pm}13.9%$ vs $69.9{\pm}4.2%,\;2.48{\pm}0.98$ vs $3.51{\pm}0.62,\;1.76{\pm}0.71$ vs $3.38{\pm}0.92$, respectively, p<0.05). 2) In the phase angle analysis of LV, Standard deviation (SD), width of half maximum of phase angle (FWHM), and range of phase angle were significantly increased in patients with C-LBBB than in controls ($20.6{\pm}18.1$ vs $8.6{\pm}1.8,\;22.5{\pm}9.2$ vs $16.0{\pm}3.9,\;95.7{\pm}31.7$ vs $51.3{\pm}5.4$, respectively, p<0.05). 3) There was no significant difference in EF, PER, PFR between patients with the Wolff-parkinson-White syndrome and controls. 4) Standard deviation and range of phase angle were significantly higher in patients with WPW syndrome than in controls ($10.6{\pm}2.6$ vs $8.6{\pm}1.8$, p<0.05, $69.8{\pm}11.7$ vs $51.3{\pm}5.4$, p<0.001, respectively), however, there was no difference between the two groups in full width of half maximum. 5) Phase image analysis revealed relatively uniform phase across the both ventricles in patients with normal conduction, but markedly delayed phase in the left ventricle of patients with LBBB. 6) In 13 cases of WPW syndrome, the site of preexcitation could be localized in 10 cases (77%) by phase image analysis. Therefore, it can be concluded that phase image analysis can provide an accurate noninvasive method to detect the mechanical consequences of a wide variety of abnormal electrical activation in ventricles.

  • PDF

Dietary Life Status of Korean Prisoners' and the Background during the Period of Japanese Ruling (일제하(日帝下)(1920년대) 조선인수형인(朝鮮人受刑人)의 식생활상황(食生活狀況)과 그 배경(背景))

  • Kim, Chon-Ho
    • Journal of the Korean Society of Food Culture
    • /
    • v.18 no.1
    • /
    • pp.56-68
    • /
    • 2003
  • The objects of this study are to find out (1) real situation of the food supply in prison under Imperial Government of Japan more cleary (historical meaning) and (2) which might help in understanding wrong present food consumption patterns in Korea which causes environmental as well as health problems. It is generally known that the length of the Japanese occupation for Korea is 36 years. However, it is concluded in this study that it was longer (70 years ; from 1875 to 1945 from when Japanese Army attacked and occupied Yungjongdo and Kanghwado island to e time when they were defeated on World War II.) Korea was annexed by Japan in 1910 then the Imperial Government of Japan dismissed the Korea Army, controlled the Office of Justice and the management of prison by force. Since then about 50% of all land was fell into Japanese Government ownership and 80% of Korean farmers became as tenant. After this change, Korea farmers were forced to pay extremely high rent (up to 80% of its harvest). Forced immigration, low price procurement of grain by Japanese government up to more than 30%of their production, was practiced. Accordingly, the food situation of Korean farmers became miserable, which may caused more violations of Imperial Japanese Law. Malnutrition, epidemic diseases, mortality rate of infants soared and average life expectancy shortened to 20-30 years old. This was the period of World Economic Crises and Food Crises in Japan. It was said then that if one Japanese comes to Korea then 200 Koreans will starved to death. Meanwhile, Proconsul Bureau of Chosun requested to the Department of Medicine, the Imperial University of Kyungsung to survey food supply situation of Koreans in prison throughout Korea. Objectives of the survey then was not only to find out scientifically whether it is agreeable in maintaining prisoner's health and also find out the possibility to save food during food crisis. Survey was started from 1923 and ended in 1945, and it focussed on prisoners in the Seodaemoon Prison. This report is the outcome of the first survey. They concluded that the food supplied was nutritionally (had) no problem, in compare with those of workers in the factory, students in the dormitory in Japan and with those of prisoners in Taiwan, France and Germany. Amount of grain supplied were different according to their work lord and was divided into 9 different levels. Total grain was consisted of 50% millet, 30% soybean and 20% indica rice(variety). However, there were no difference in the amount of supply of side dishes between work groups. For the highest working group, 3280g of boiled grain per day was supplied to make stomach full but as a side dishes, salty fermented bean paste, fermented fish and salty soups, etc. was supplied. Deficiency of animal protein were observed, however, high intake of soybean may possibly caused animal protein deficiency problem. On the contrary, the intake of water soluble vitamins were insufficient but the level of calcium and iron intake seems to be sufficient, however, imbalance of intake of nutrition may caused low absorbtion rate which might caused malnutrition. High intake of dietary fiber and low intake of cholesterol may possibly prohibited them from so called modem disease but may caused the defect in disease resistancy againist epidemics and other traditional disease. Over intake of salt(20-30g per day) was observed. Surveyors who attended in this survey, mentioned that the amount of food intake may nutritionally be sufficient enough but the quality of food(and possibly, the taste of food) were like that of animal feed. For the officials who received this report might consider that considering the war situation and food crisis, the supply situation of food in the prison may considered to be good enough(because they are not starving). But as a Korean who studied this report, one feel extremely pity about those situation because (situation of) those period were very harsh under the Imperial Law and keeping the Law by Koreans were almost impossible, therefore, about one third adult violated the Law and were put into jail. And they were treated like animals.

Effect of Cooling Water Capacity on the Engine Performance for Small Diesel Engine (냉각수(冷却水) 용량(容量)이 소형(小型) 디젤기관(機關)의 성능(性能)에 미치는 영향(影響))

  • Myung, Byung Soo;Kim, Soung Rai
    • Korean Journal of Agricultural Science
    • /
    • v.13 no.2
    • /
    • pp.265-278
    • /
    • 1986
  • This study was attempted to improve the thermal efficiency of 6 kW water-cooled diesel engine on power tiller. The engine performance tests were conducted to find out the effect of cooling water capacity of 2700cc, 2800cc, 2900cc, 3000cc, 3100cc on power, brake specific fuel consumption (BSFC), torque, temperature of cooling water and lubricating oil and friction losses of the engine with D. C. dynamometer. The results obtained in the study are summarized as follows: 1. The performance of the engine tested was adequated to Korea Industrial Standard but actual economy power was 10% higher than the labeled rated power of the engine. The BSFC of the engine tested 297.8g/kW-h which is belong a little higher level than hreign products. The temperature of cooling water was $101^{\circ}C$ which is higher than SAE standard ($88^{\circ}C$) 2. The friction losses of engine tested was 3.656 kW at 2200 rpm of rated rpm (piston speed 6.97m/sec) and is higher than those of foreign products. 3. When the cooling water capacity was increased from 2700cc to 3100cc the power output of the engine was increased from 6.7 kW to 7.13 kW at the rate of 6.4% and also the torque of the engine was increased from 28.85 N.m to 30.76 N.m at the rate of 6.39%. 4. When the cooling water capacity was increased from 2700cc to 3100cc, the BSFC was decreased 6.9g/kW-h from 310.9g/kW-h to 304.1g/kW-h, and after one half hour operation with full load, the temperature of cooling water was decreased $13^{\circ}C$ from $101^{\circ}C$ to $88^{\circ}C$ and also the temperature of lubricant oil was decreased $6.4^{\circ}C$ from $76.7^{\circ}C$ to $70.4^{\circ}C$. 5. The mechanical efficiency was increased from 70.08% to 71.08% when the cooling water capacity was increased from 2700cc to 3100cc.

  • PDF

Radiation Therapy Results of Invasive Cervical Carcinoma Found After Inappropriate Hysterectomy (부적절한 수술루 침윤성 자궁경부암의 방사선치료 결과)

  • Choi Doo Ho;Kim Eun Seog;Nam Kae Hyun;Huh Seung Jae
    • Radiation Oncology Journal
    • /
    • v.14 no.3
    • /
    • pp.211-219
    • /
    • 1996
  • Purpose : Hysterectomy without lymph node dissection was considered an inadequate treatment method for invasive uterine cervix cancer. Usually the procedure was performed inadvertently on patients who were thought to have benign or premalignant conditions preoperatively. We analysed radiotherapy results of such patients to evaluate survival rates, failure patterns and prognostic factors according to various conditions. Materials and Methods : Sixty one patients undergoing hysterectomy in the presence of invasive cervical carcinoma were reviewed retrospectively. Preoperative diagnosis were carcinoma in situ (38 cases), severe dysplasia (2), myoma (6), uterine bleeding (4), uterine prolapse (2). and early invasive cervix cancer (10) (One patient had myoma and carcinoma in situ coincidently). Patients received postoperative megavoltage radiotherapy from August 1985 to December 1993, and minimum follow-up period was 24 months. Eight patients received ICR only, 6 patients ICR and external radiation, and 47 patients received external radiation therapy only. Results : Overall 5-year survival rate and relapse-free survival rate werer $83.8\%$, $86.9\%$ respectively. For patients with retrospective stage IA, IB, IIB (gross residual after surgery), and vaginal cuff recurrence were $90.9\%$, $88.8\%$, $38.4\%$, and $100\%$ respectively There were 8 cases of treatment failure, most of them (5/8) were in patients with gross residual disease, other patients were full thickness involvement of cervix wall (2/8) except one. Patients with early vaginal cuff recurrence and microinvasive cervical cancer (stage IA) had no treatment related failure Prognostic factors affecting survival by univariate analysis were status of residual disease, tumor histology and retrospective stage. Conclusion : Adjuvant radiotherapy appeared to be effective treatment method for patients with presumed stage IA, IB and early local recurrent disease after inadvertent hysterectomy Survivals for patients with gross disease remained after inappropriate hysterectomy was poor, So, early cancer detection and Proper management with precise pretreatment s1aging is necessary to avoid inadherent hysterectomy especially in the cases of gross residual disease.

  • PDF

Seed Germination, Plant Growth and Antioxidant Capacity of Limonium tetragonum under Different Salt Concentrations (염농도에 따른 갯질경(Limonium tetragonum) 종자의 발아와 식물체의 생장 및 항산화 활성)

  • Jeong, Jae-Hyeok;Hwang, Woon-Ha;An, Sung-Hyun;Jeong, Han-Yong;Lee, Hyeon-Seok;Baek, Jung-Sun;Choi, Kyung-Jin;Lee, Geon-Hwi;Ra, Ji-Eun;Chung, Nam-Jin;Lee, Seung Jae;Yun, Song Joong
    • Korean Journal of Plant Resources
    • /
    • v.30 no.4
    • /
    • pp.364-371
    • /
    • 2017
  • Limonium tetragonum is a halophyte grown naturally in the coastal region in South Korea. This study was conducted to investigate the effects of salt concentrations on seed germination, seedling growth, and antioxidant capacity of L. tetragonum. Seeds were collected from naturally grown plants of L. tetragonum and those at full maturity were used in this experiment. All experiments were performed at 0%, 0.5%, 1.0%, or 2.0% of salt concentrations. Seed germination rate was highest as 86% at $20^{\circ}C$ and followed as higher in order of $25^{\circ}C$, $30^{\circ}C$ and $15^{\circ}C$. The germination rate was about 80% at 0% or 0.5% of salt concentration, but it was very low at the salt concentrations higher than 1%. Growth of L. tetragonum seedlings showed no difference in Hoagland solution containing NaCl in the range of 0% to 1.0% and seedlings survived at 2.0% of NaCl concentration. As the salt concentration increased, the content of $Na^+$ in the shoot increased, but that of $K^+$, $Ca^{{+}{+}}$, or $Mg^{{+}{+}}$ decreased. The antioxidant activity and the content of total polyphenol and total flavonoid in the shoot were similar at 0% and 0.5% of NaCl and were highest at 2.0% of NaCl concentration. In conclusion, performance of seed germination and plant growth of L. tetragonum was highest at 0% and 0.5% of NaCl concentration, and showed no difference in antioxidant activity, total polyphenol contents, and total flavonoid contents at the same salt concentrations.

Population Phenology and an Early Season Adult Emergence model of Pumpkin Fruit Fly, Bactrocera depressa (Diptera: Tephritidae) (호박과실파리 발생생태 및 계절초기 성충우화시기 예찰 모형)

  • Kang, Taek-Jun;Jeon, Heung-Yong;Kim, Hyeong-Hwan;Yang, Chang-Yeol;Kim, Dong-Soon
    • Korean Journal of Agricultural and Forest Meteorology
    • /
    • v.10 no.4
    • /
    • pp.158-166
    • /
    • 2008
  • The pumpkin fruit fly, Bactrocera depressa (Tephritidae: Diptera), is one of the most important pests in Cucurbitaceae plants. This study was conducted to investigate the basic ecology of B. depressa, and to develop a forecasting model for predicting the time of adult emergence in early season. In green pumpkin producing farms, the oviposition punctures caused by the oviposition of B. depressa occurred first between mid- and late July, peaked in late August, and then decreased in mid-September followed by disappearance of the symptoms in late September, during which oviposition activity of B. depressa is considered active. In full-ripened pumpkin producing farms, damaged fruits abruptly increased from early Auguest, because the decay of pumpkins caused by larval development began from that time. B. depressa produced a mean oviposition puncture of 2.2 per fruit and total 28.8-29.8 eggs per fruit. Adult emergence from overwintering pupae, which was monitored using a ground emergence trap, was first observed between mid- and late May, and peaked during late May to early June. The development times from overwintering pupae to adult emergence decreased with increasing temperature: 59.0 days at $15^{\circ}C$, 39.3 days at $20^{\circ}C$, 25.8 days at$25^{\circ}C$ and 21.4 days at $30^{\circ}C$. The pupae did not develop to adult at $35^{\circ}C$. The lower developmental threshold temperature was calculated as $6.8^{\circ}C$ by linear regression. The thermal constant was 482.3 degree-days. The non-linear model of Gaussian equation well explained the relationship between the development rate and temperature. The Weibull function provided a good fit for the distribution of development times of overwintering pupae. The predicted date of 50% adult emergence by a degree-day model showed one day deviation from the observed actual date. Also, the output estimated by rate summation model, which was consisted of the developmental model and the Weibull function, well pursued the actual pattern of cumulative frequency curve of B. depressa adult emergence. Consequently, it is expected that the present results could be used to establish the management strategy of B. depressa.

Analysis of Production Cost of Walnut Tree Cultivation in Major Cultivating Regions (호두나무 주요 재배지역의 생산비 분석)

  • Kim, Jae-Sung;Lee, Uk
    • Journal of Korean Society of Forest Science
    • /
    • v.99 no.4
    • /
    • pp.611-617
    • /
    • 2010
  • The current studies aim is to analyze the production cost of walnut tree cultivation and its object was targeted at walnut tree cultivating household region 163. The analysis is as follows. Our domestic walnut tree cultivating households averagely have cultivated about 0.7ha, and planting number per ha was averagely 204, and it showed that compared to the standard planting number (100), the plantation was done close planted. The most cultivar cultivated according to regions were Chungbuk region: sangchon 65.7%, Chungnam region: kwangduk 68.6%, Jeonbuk region: sangchon 98.0%, Gyeongbuk region: daeboo 61.2%. The production cost for cultivating walnuts can be classified into the followings; management cost(4436 thousand won/ha) such as manufacturing cost(292 thousand won/ha), intermediate material cost(3682 thousand won/ha), rent(103 thousand won/ha), employment cost(653 thousand won/ha) etc, and self-serviced expenses such as self-laboring cost(5,834 thousand won/ha), land security cost(490 thousand won/ha), fixed capital cost(834 thousand won/ha), circulating capital cost(234 thousand won/ha) etc. 11,820 thousand won were invested for the production cost of walnut and it made 11,586 thousand won/ha(rate of investment 72.3%) profit, and the net income was 4,196 thousand won/ha(net income rate 26.2%), showing high amount of income. The manufactured walnuts were marketed in Nong-hyup 39.8%, wholesalers 20.8%, dealers 19.8% and recently, as the amount of goods marketed directly to consumers themselves have increased, the income has reached up to 18.9%. At the basis of making most of idle soil, walnut tree's cultivated regions are fairly small, and due to the characteristics of sideline management, it has its limits in searching for production policy locally and promotion strategy of industries. Therefore, if the basic database can be established, subjected only to full-time cultivating households, then not only would the differences between the imported walnuts be reinforced, it would also be possible to transfer into the new and improved distribution system. Furthermore, through establishment of the database, it can be anticipated that it would contribute greatly in the increase of the household income.

A Study on the Determination of Tramp Freight Rates (부정기선 운임율의 결정에 관한 이론적 고찰)

  • 이종인
    • Journal of the Korean Institute of Navigation
    • /
    • v.4 no.2
    • /
    • pp.45-79
    • /
    • 1980
  • The aim of this paper is to analyze the mechanics of price formation in the tramp shipping. For the purpose of this study, the main characteristics of tramp freight rates and the market is examined, and a brief examination of the nature ofthe costs of operation is given which are essential for the understanding of the functioning of shipping firms as well as for the understanding of developments in the tramp freight market. The demand and supply relationships in the market is also analysed in detail. Tramp shipping is an industry that has a market which functions under conditions that are not dissimilar to the theoretical model of perfect competition. However, it does notmean that tramp shipping market is a perfectly competitive market. It is apparent that this realworld competitive system has its imperfections, which means that the market for tramp shipping is near to being a perfectly competitive market on an internaitonal scale and it is freight are therefore subjext to the laws of supply and demand. In theory, the minimum freight rate in the short term is that at which the lowest cost vessels will lay-up in preference to operating, and is equal to the variable costs minus lay-up costs; and this would imply that in all times except those of full employment for ships there is a tendency for newer low-cost, and, probably, faster vessels to be driving the older high-cost vessels in the breaker's yards. In this case, shipowners may be reluctant to lay-up their ships becasue of obligations to crews, or because they would lose credibility with shippers or financiers, or simply because of lost prestige. Mainly, however, the decision is made on strictly economic grounds. When, for example, the total operating costs minus the likely freight earnings are greater than the cost of taking the ship out of service, maintaining it, and recommissioning it, then a ship may be considered for laying-up; shipowners will, in other words, run the ships at freight earnings below operating costs by as much as the cost of laying them up. As described above, the freight rates fixed on the tramp shipping market are subject to the laws of supply and demand. In other words, the basic properties of supply and demand are of significance so far as price or rate fluctuations in the tramp freight market are concerned. In connection with the same of the demand for tramp shipping services, the following points should be brone in mind: (a) That the magnitude of demand for sea transport of dry cargoes in general and for tramp shipping services in particular is increasing in the long run. (b) That owning to external factors, the demand for tramp shipping services is capable of varying sharphy at a given going of time. (c) The demad for the industry's services tends to be price inelastic in the short run. On the other hand the demand for the services offered by the individual shipping firm tends as a rule to be infinitely price elastic. In the meantime, the properties of the supply of the tramp shipping facilities are that it cannot expand or contract in the short run. Also, that in the long run there is a time-lag between entrepreneurs' decision to expand their fleets and the actual time of delivery of the new vessels. Thus, supply is inelastic and not capable of responding to demand and price changes at a given period of time. In conclusion, it can be safely stated that short-run changes in freight rates are a direct result of variations in the magnitude of demand for tramp shipping facilities, whilest the average level of freight rates is brought down to relatively low levels over prolonged periods of time.

  • PDF