• Journal of Navigation and Port Research
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• v.48 no.3
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• pp.200-205
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• 2024

This paper examines the impact of ESG activities of domestic shipping companies on the cost of debt. It is known that companies with large information asymmetry tend to have high costs of debt. Corporate ESG activities have been identified as an effective means of reducing information asymmetry. By actively engaging in ESG activities, companies can lower the cost of debt by reducing information asymmetry. Therefore, this study aims to investigate whether these mechanisms, which have been observed in previous studies, also apply to domestic shipping companies. Multiple regression analysis is conducted on KOSP I-listed shipping companies from2010 to 2022. The cost of debt is set as the dependent variable, while the ESG rating is used as the explanatory variable. The analysis reveals that companies with a high level of ESG activities generally have a lower cost of debt. However, it is important to note that ESG activities of shipping companies do not seem to have a significant impact on their cost of debt. In fact, the level of ESG activities among domestic shipping companies is not particularly high (Hong, 2024). Despite these findings, domestic shipping companies should still strive for sustainable management to adapt to the rapidly changing business environment and meet the demands of the modern era. ESG management is a representative method for achieving sustainability. Therefore, shipping companies should not only focus on reducing the cost of debt but also on opening up the closed industry culture and communicating with capital market participants for sustainable growth. It is crucial for these companies to listen to the voices of stakeholders and embrace a holistic approach to sustainability.

• Journal of Navigation and Port Research
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• v.48 no.1
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• pp.55-61
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• 2024

Environmental, Social, and Governance (ESG) management may be one of the recent hot topics in corporate management. The purpose of this paper was to study the level of ESG activities of shipping companies. The shipping industry is known to have low transparency and low favorability (Yun, 2022). This study determined whether ESG activities of shipping companies known to the public or studied qualitatively were consistent with objective facts through quantitative analysis. Analysis was conducted on 8,009 firm-year KOSP I listed companies from 2010 to 2022 using ESG ratings evaluated and published by KCGS. As a result of the analysis, it was found that shipping companies had a lower level of ESG activities than non-shipping companies. Although many research studies have been done on companies' ESG activities, research on corporate social responsibility activities and ESG activities of domestic shipping companies is limited. This paper is significant in that it is the first study to quantitatively analyze ESG management status of domestic shipping companies. Shipping companies should make efforts to improve their images, improve their business performances, and increase corporate sustainability by taking the lead in proactive ESG activities rather than performing passive ESG activities due to external regulations such as IMO 2020 and IMO 2050.

• Journal of Navigation and Port Research
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• v.48 no.1
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• pp.49-54
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• 2024

This paper investigated the impact of economic cycles in the shipbuilding industry on managerial performance of marine paint and coatings firms. As part of the upstream to ship construction, the marine equipment industry plays a critical role in determining the competitiveness of the shipbuilding industry. Despite a close interaction between the two sectors, the majority of research on the marine equipment industry has highlighted securing competitiveness edge and developing advanced technologies, paying little academic attention to the relationship between shipbuilding and managerial performance. In this regard, this paper examined how economic cycles in shipbuilding affected growth and profitability of marine paint and coatings firms. To this end, managerial performances of six marine paint and coatings firms for the period of 2003-2022 were analyzed in panel regressions. Results indicated that the shipbuilding economic cycle proxied by delivery amounts of Korean shipyards was positively associated with growth and profitability of marine paint and coatings firms. However, there was divergence in statistical significance by shipbuilding indicators. While coefficients of compensated gross tonnage, gross tonnage, and monetary amount were statistically significant, that of deadweight tonnage was not. Findings of this study imply that managerial performances of marine paint and coatings firms are affected by the amount of value added from the shipbuilding industry rather than its absolute size.

• The Journal of the Institute of Internet, Broadcasting and Communication
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• v.16 no.6
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• pp.119-123
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• 2016

In the coastal area, many kind of vessels are operating and exposed to the various marine accidents. In particular, small-size vessels, which are not equipped with the safety equipment, are in the defenceless state to the marine accidents such as the accident according to vessel's own state caused by the diverse reasons and the collision with the neighborhood vessels and objectives. So it is necessary to resolve these situations through the inexpensive equipment. This paper implements the function that can detect vessel's own motion using Smart Phone. if the motion is over the threshold value assigned, this function decides that the current situation is dangerous for this vessel. So this function informs Smart Phone's ower in the vessel and the control center of this situation. This function can be applied to small-size vessels, such as fishing boating, passenger ship, and leasure boat, which have few the safety equipments, and then improve vessel's safety navigation.

• Journal of the Korean Society of Fisheries and Ocean Technology
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• v.47 no.3
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• pp.241-247
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• 2011

Marine casualties of vessel are said to be in most case caused by human error, but it would be valid for the assumption that the ship is built with high quality and then should be acceptable to the safety standards. It means that the inherent characteristics of a ship should be the first consideration on the safety of ship. Therefore it is basically necessary for navigator to grasp the inherent stability of his ship and ensure that the ship complies with the minimum statutory standards of stability. This study is to realize the stability of the Korean offshore large purseiner varying with loading conditions by the inclining data and some calculations. The author compared the stability of the ship with IMO criteria and domestic rule, and proposed some improvement for the safety of the ship. The results are summarized as follows ; The values of GM of the ship according to the loading condition in navigation satisfy both of the IMO criteria and the domestic rule, but in case of the area under the GZ curves between the heel angles of $30^{\circ}$ and $40^{\circ}$, and the heel angle occuring the maximum righting lever not satisfy the IMO rule at the fishing ground departure and arrival conditions in the haul in net situation. The initial metacentric height of the ship is very large, but the range of stability and the occurring angle of the maximum GZ are very small, so even small inclining can bring about the beam end. The best method of improvement for that is to increase the freeboard of the model among the variables.

• Journal of the Korea Institute of Information and Communication Engineering
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• v.19 no.4
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• pp.933-939
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• 2015

If the Visual Aids(light wave signs) is not supplied the general power it is using solar power system. These power supply systems, the role of the charge/discharge control is very important. Introduction of IT(AIS etc.) for the effective management of the AtoN(Aids to Navigation) is a Visual Aids has been added to the device using the power to charge/discharge control, the need increases. The current charge/discharge controller is attached to the inside of the AtoN and checks on and verification of the maritime environment, depending on the difficulty. In order to resolve these issues in this paper, the Bluetooth module is mounted on the inside of the charge/discharge controller and proposed a possible system monitoring at close range. Advantage of the system implemented is a simple configuration and low installation cost. In addition, it can be applied to a variety of AtoN. Also, it has been able to check the real-time status information of the charge/discharge controller at a short distance in to reduce inspection costs, and reduce risk factors that might occur during check.

• Journal of Advanced Marine Engineering and Technology
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• v.39 no.3
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• pp.280-285
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• 2015

We consider a linear transceiver design method for multi-user multiple-input multiple-output (MIMO) downlink channels where a base station (BS) equipped with a finitely large number of antennas. Although a matched-filter precoder is a capacity-achieving method in massive MIMO downlink systems, it cannot guarantee to achieve the multi-user MIMO capacity in a finitely large number of antennas due to inter-user interferences. In this paper, we propose a two-stage precoder design method that maximizes the sum-rate of cell-edge users when the BS equipped with a finitely large number of antennas. At the first stage, a matched-filter precoder is adopted to exploit both beamforming gain and the reduction of the dimension of effective channels. Then, we derive the second stage precoder that maximizes the sum-rate by minimizing the weighted mean square error (WMSE). From simulation and analysis, we verify the effectiveness of the proposed method.

• Journal of the Korean Society of Marine Environment & Safety
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• v.21 no.2
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• pp.140-146
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• 2015

This paper analyzed recurvature of typhoons by using 20 years meteorological data from 1992 to 2011. The results of this study are as follows. Yearly numbers of typhoon recurvature showed decreasing tendency gradually with decrease of numbers of typhoon occurrence. Typhoons recurvature were especially many between August and October and number of typhoon recurvature between July and October was occupied counts for 71 % of the whole typhoon recurvature. Life of typhoon recurvature in the North Pacific was most frequent at 5 days and 7 days. Mean life of typhoon recurvature was 6.8 days and this numerical value was longer than mean life of the whole typhoon including recuevatute and non-recurvature. Most of typhoons recurvature changed their direction north-eastwards in 20-34 degrees north latitude and 120-139 degrees east longitude. Mean latitude recurvature and longitude recurvature were 25 degrees north latitude and 135 degrees east longitude, respectively.

• Journal of the Korean Society of Marine Environment & Safety
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• v.26 no.5
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• pp.445-453
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• 2020

The use of tugboats for the safe berthing/unberthing of ships is the most crucial factor in the safe and efficient operation of the harbor. However, the adequate number and size of tugboats that should be held based on the characteristics of the port have not been investigated in detail, which causes disputes between involved parties. Therefore, the suitable number of tugboats and the ratio of the tugboat horsepower were determined in this study using simulation techniques, with focus on Ulsan Port. First, the ship and tugboat-operating models were designed for simulation application. Next, the input variables defined in the model design were standardized in an inputtable form using ARENA software. In addition, the arrival and division process of the ship was designed and simulated as an ARENA model. Finally, the simulation results for six scenarios showed that an effective tugboat operation could be achieved when 42 tugboats were held at Ulsan Port.

• Journal of the Korea Institute of Information and Communication Engineering
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• v.21 no.4
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• pp.846-854
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• 2017

In this paper, we proposed a method to reduce the error of compass by combining the ceiling technique used in the past with modern IT technology. We combined an encoder and the Azimuth Circle for applying an algorithm. The algorithm is able to calculate the true north by using astronomical observation. Finally, we implemented the embedded system possible to indicate various situations and perform calculations. As a result, it isn't only able to calculate the true north with an error of about $0.2^{\circ}$ but also takes less than 5 seconds. Originally, using astronomical observation requires more than 5minutes. So it is analyzed as convenient by solving the problem of taking lots of time. Especially, we present the tolerance less than $0.5^{\circ}$ by the analysis of the existing gyrocompass and the bearing standard of IMO. In conclusion, we clearly confirm that the results of this paper are possible to reduce the error of various compasses in a real world.