• International Commerce and Information Review
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• v.11 no.2
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• pp.127-145
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• 2009

With increase in oil demand owing to economic growth in Northeast Asia, the establishment of an oil hub in Korea is recently considered by policy and academic circles. This paper aims to suggest strategic schemes on the establishment of Korea's oil hub in Northeast Asia by comparing Korea's conditions as an oil logistics hub with Singapore which has been an oil hub in East Asia until recent year. Quantitative and qualitative analysis methods were employed in order to examine the competitiveness of Korea's oil hub. This research concludes that Korea is very competitive as an oil logistics hub in Northeast Asia, but so much improvements for realizing the project are necessary such as expansion of storage facilities for oil, institutional instruments for facilitating oil logistics and trading and preparation for incentive schemes on foreign investments in oil and its related industries.

• Korea Trade Review
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• v.44 no.6
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• pp.105-118
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• 2019

In the past two decades, due to the rapid fluctuations in the oil supply and demand in Northeast Asia as well as a surge in oil prices in the early 2000s, Korea has been developing the Northeast Asia Oil Hub project as a national project. This project was promoted based on the policy consideration that the nation's energy security and regional development can be promoted by establishing an oil hub in Northeast Asia that can eventually replace Singapore as East Asia's oil logistics hub. Following the construction of a large-scale oil storage facility in Yeosu in 2013, the main project in Ulsan has suffered many difficulties due to environmental changes such as the supply and demand of oil and political factors. The survey, which investigated the performance, problems, and prospects of the oil hub project, illustrates that scores of all sectors are of average level. In terms of performance and prospects, policies such as facility investment, law, and system improvement were determined to be rather high while operational areas such as value-added activities, profitability, and marketing activities were perceived as having more serious problems by respondents. In conclusion, despite the strong potential of Korea's oil hub based on its geographical location, facilities, and oil product capacity, there are problems related to policies, institutions, and investment. In the future, the oil hub business should be reviewed by considering environmental factors, and a drastic improvement plan for attracting foreign investors and oil traders should be established.

• Journal of Fisheries and Marine Sciences Education
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• v.22 no.2
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• pp.195-204
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• 2010

As the throughout of transshipment oil cargo in Korea has been increasing, the importance and competition of the oil hub port has also been increasing. The aim of this study is to suggest how the factors influence the competitiveness of the oil hub port based on the specialists' opinions. For doing this, the evaluating factors were obtained from both previous studies and brainstorming of the professionals from the oil hub port. These were divided into groups by the ‘KJ method' according to 5 criteria and were made into a 3 level hierarchy structure. The ‘AHP method' identified the relative importance of factors and trends from the preferences of the specialists. This study presents the factors influencing the competitiveness of the oil hub port.

• International Commerce and Information Review
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• v.14 no.3
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• pp.209-227
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• 2012

Northeast Asia where is an epicenter of the global financial crisis's conquest is traditional imbalanced region of oil production and consumption. In recent years, the region has been suffered by the shortage of oil storage and transportation facilities due to surging oil trading and necessity in strategic reserves. Therefore, since independent petroleum logistics with the storage facilities and oil trading hub is required to form efficient oil market in this region. In this study, we analyzed the efficiency of refinery facilities by country that is of importance in being a logistics hub in Northeast Asia by employing non-static and dynamic efficiency analysis, which are a part of DEA(Data Envelopment Analysis) and then policy implications have been drawn. The result illustrates Korea's is the highest country in terms of efficiency of oil refining facilities in Northeast Asia. It implies that Korea has strong position to be the oil hub in Northeast Asia.

• Journal of Korea Port Economic Association
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• v.25 no.1
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• pp.63-86
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• 2009

With increasing uncertainty of energy market in the world, the policies for the energy resource security have become crucial Several countries with poor energy resource like Netherlands and Singapore have pursued the policy for becoming an oil hub in the region. Singapore has been an oil hub in East Asia for a long time not only because it is well located with a large number of countries exporting and importing oil but it has also pursued strong policies to become an oil hub while establishing favourable institutional, regulatory and business environment for accommodating major refineries and petro-chemical companies. However with growing trading volume of petroleum products in Northeast Asia and a record high price of oil in these days, the necessities of another oil hub in the region are considered in order to reap benefits of the security of economical and stable oil. South Korea is situated astride the main North Pacific shipping route, with deep water ports and proximity to Chinese and Japanese industrial centres that make tank terminal operators Ideal choices for the oil hub in Northeast Asia although it has several disadvantages such as lack of independent storage facilities, underdeveloped oil trading market and unfavourable business friendly climates etc. This study is focused on examining the globalization strategies of tank terminal operators such as Vopak, Oiltanking and Odfjell in order to suggest the policy implications for becoming an oil tub in Northeast Asia.

• East Asian Economic Review
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• v.16 no.4
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• pp.395-410
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• 2012

For historical and political reasons, South Korea (hereafter Korea), Japan and China have not achieved much progress in regional energy cooperation for decades. However, the rising importance of Northeast Asia (NEA) in the world energy sphere, especially in the global oil market, is providing an opportunity to create an integrated oil market in the region. This study suggests the Northeast Asian Energy Corridor (NEAEC) Initiative as an effective conduit for raising the possibility of the Northeast Asian oil hub project. The NEAEC Initiative combines the model of Europe's Amsterdam-Rotterdam-Antwerp (ARA) with Singapore's AsiaClear as a form of financial collaboration. The study suggests that an electronically integrated Over-the-Counter (OTC) market clearing mechanism accompanied by other key financial instruments among Korea, Japan and China can be an effective means for promoting financial collaboration in the region.

• Journal of Korea Port Economic Association
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• v.39 no.1
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• pp.149-172
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• 2023

In the Northeast Asian region, including Korea, China, and Japan, with rapid economic growth since the 1990s, intra-regional oil logistics has been increasing. Under such external circumstances, Korea has been pursuing a policy to become a Northeast Asian petroleum logistics hub since the mid-2000s. In order to become a Northeast Asian logistics hub, it is important to establish and promote a business model to promote the value-added oil logistics business. This study aims to propose policies and practical implications for increasing petroleum logistics by analyzing Korea's petroleum logistics business model in Northeast Asia. The results of case analysis through interviews with 23 tank terminal companies are as follows. First, most of the oil storage tank terminal companies interviewed are conducting value-added petroleum logistics such as blending, breaking bulk, and consolidation etc. Second, value-added petroleum logistics is caused by an imbalance in supply and demand among neighboring countries in Northeast Asia. In particular, there is a high demand for breaking bulk and blending connecting Japan, Oceania, the United States, and South America. Third, it is necessary to promote the promotion of value-added logistics by improving infrastructure, institutions, and regulations in response to the demand for value-added petroleum logistics, which will greatly contribute to Korea's policy for being Northeast Asian oil hub.

• Korean Journal of Air-Conditioning and Refrigeration Engineering
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• v.29 no.3
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• pp.127-133
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• 2017

Performance analysis has been carried out on a high side scroll compressor that had a fixed scroll equipped with a circular oil groove on its thrust surface. Oil was supplied to the oil groove through an intermittent opening from a high pressure oil reservoir formed inside the orbiting scroll hub. Oil in the groove was then delivered to both suction and back pressure chambers by pressure differentials and viscous pumping action of the orbiting scroll base plate. Mathematical modeling of this oil groove system was incorporated into a main compressor performance simulation program for an optimum oil groove design. The study findings were as follows. Pressure in the oil groove can be controlled by changing its configuration and the oil passage area. With an enlarged oil passage, the pressure in the oil groove heightens due to an increased flow rate, but the pressure elevation in the back pressure chamber is small, resulting in reduced friction loss at the thrust surface between the two scrolls. On the other hand, by increasing the oil passage area, the oil content in the refrigerant flow increases. Considering all these factors, the energy efficiency ratio could be improved by about 3.6% under the ARI condition by an optimal oil groove design.

• International Journal of Naval Architecture and Ocean Engineering
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• v.6 no.2
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• pp.187-205
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• 2014

The global price of oil, which is both finite and limited in quantity, has been rising steadily because of the increasing requirements for energy in both developing and developed countries. Furthermore, regulations have been strengthened across all industries to address global warming. Many studies of hull resistance, propulsion and operation of ships have been performed to reduce fuel consumption and emissions. This study examined the design parameters of the propeller boss cap fin (PBCF) and hub cap for 6,000TEU container ships to improve the propulsion efficiency. The design parameters of PBCF have been selected based on the geometrical shape. Computational fluid dynamics (CFD) analysis with a propeller open water (POW) test was performed to check the validity of CFD analysis. The design of experiment (DOE) case was selected as a full factorial design, and the experiment was analyzed by POW and CFD analysis. Analysis of variance (ANOVA) was performed to determine the correlation among design parameters. Four design alternatives of PBCF were selected from the DOE. The shape of a propeller hub cap was selected as a divergent shape, and the divergent angle was determined by the DOE. Four design alternatives of PBCF were attached to the divergent hub cap, and the POW was estimated by CFD. As a result, the divergent hub cap with PBCF has a negative effect on the POW, which is induced by an increase in torque coefficient. A POW test and cavitation test were performed with a divergent hub cap with PBCF to verify the CFD result. The POW test result showed that the open water efficiency was increased approximately 2% with a divergent hub cap compared to a normal cap. The POW test result was similar to the CFD result, and the divergent hub cap with the PBCF models showed lower open water efficiency. This was attributed to an increase in the torque coefficient just like the CFD results. A cavitation test was performed using the 2 models selected. The test result showed that the hub vortex is increased downstream of the propeller.

• Journal of the Society of Naval Architects of Korea
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• v.51 no.2
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• pp.171-177
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• 2014

A two-dimensional particle image velocimetry (2D PIV) system in a towing tank is employed to measure a wake field of a very large crude oil carrier model with rotating propeller in self propulsion condition, to identify characteristics of wake of a propeller working behind a ship. Phase-averaged and time-averaged flow fields are measured for a horizontal plane. Scale ratio of the model ship is 1/100 and Froude number is 0.142. By phase-averaging technique, trajectories of tip vortex and hub vortex are identified and characteristic secondary vortex distribution is observed in the hub vortex region. Propeller wake on the starboard side is more accelerated than that on the port side, due to the difference of inflow of propeller blades. The hub vortex trajectory tends to face the port side. With the fluctuation part of the phase-averaged velocity field, turbulent kinetic energy (TKE) is also derived. In the center of tip vortex and hub vortex region, high TKE concentration is observed. In addition, a time-averaged vector field is also measured and compared with phase-averaged vector field.