• Journal of Navigation and Port Research
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• v.39 no.6
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• pp.465-472
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• 2015

SEEMP (Ship Energy Efficiency Management Plan) guidelines for a ship's GHG reduction include a machinery modification of hull, an installation of energy efficiency enhanced attachment in hardware methods. It is also possible to bring a ship energy efficiency improvement by fuel-efficient operations or in other software methods. Hardware modification or installation on ship can bring financial burdens to a ship company compared to its improvement expectation. On the other hand, Software based energy-saving technology can be applicable on various ship types, and it is also expected high efficiency of ship energy use compared to hardware based technology in perspective of the investment costs and efficiency. In this paper, it is described that the ship handling simulator based evaluation was carried out using representative ship model of bulk, container and VLCC. Simulation environments were separated into 6 conditions according to the sea-state and weather condition, and the operation results were compared with those before and after energy saving system applied The container ship showed the largest FOC save rate after energy saving system applied although the others also showed energy save rate after using the system.

• Journal of Korea Port Economic Association
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• v.29 no.3
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• pp.159-174
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• 2013

This paper mainly deals with the appropriation of ship voyage allocation, using a heuristic regression model, in order to reduce total costs incurred in port, yard and at sea under the specific port condition. Because of different behavior of costs incurred in port, yard and at sea, an effort to minimize these costs by adjusting the number of voyages for three ship classes(50,000, 100,000, and 150,000-ton) should be made. For instance, if the port managers attempt to reduce the sea transport cost by increasing the annual allocated number of ship voyages classed 150,000-ton for economies of scale, they have no choice but to suffer a significant increase in queueing cost due to port congestion. To put it differently, there are trade-off relationships among the costs incurred in port, yard, and at sea. We utilized a computer simulation result to perform a couple of regression analyses in order to figure out the appropriate range of allocated number of voyages of each ship class using a heuristic approach. The detailed analytical results will be shown at the main paper. We also suggested a net present value(NPV) model to make a proper investment decision for an additional berth of 200,000-ton class that alleviates port congestion and reduces transport cost incurred both in port and at sea.

• Journal of Korea Port Economic Association
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• v.20 no.1
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• pp.57-77
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• 2004

The meaning of seaport has always been translated into something concerned with nation-wide goals and viewpoints, which used to be in developing country. The time developing countries have tried to be in pursuit of their economic development, one of important sectors is SOC investment that is needed into huge capital input which they couldn't easily afford to it. Another one which we have to mention in terms of seaport at contemporary maritime matters is privatization of port, that is strongly connected with efficiency to achieve port productivity. All these factors can produce high quality of service, and port co-operation and diversification of their business areas, etc. Therefore we then have to think of private port management companies such as P&O Ports, Hutchison Whampoa in HK, etc. in order to provide better port service to the customers, and they can also get involved into capital port investment as well. This kind of concept already comes from Denholm Ship management companies in shipping. So, it is necessary for us to look into port management company in our side, which means, we have to be involved into such a business to invest and manage foreign ports as well as our ports. Then, port competitiveness will follow in our ports.

• Journal of Korea Port Economic Association
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• v.35 no.3
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• pp.61-72
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• 2019

In order to enhance the competitiveness of the container shipping industry and promote its development, based on the empirical analyses using multivariate time series models, this study aims to suggest a few strategies related to the dynamics of the container shipping market. It uses the vector autoregressive (VAR) and vector error correction (VEC) models as analytical methodologies. Additionally, it uses the annual trade volumes, fleets, and freight rates as the dataset. According to the empirical results, we can infer that the most exogenous variable, the trade volume, exerted the highest influence on the total dynamics of the container shipping market. Based on these empirical results, this study suggests some implications for ship investment, freight rate forecasting, and the strategies of shipping firms. Concerning ship investment, since the exogenous trade volume variable contributes most to the uncertainty of freight rates, corporate finance can be considered more appropriate for container ship investment than project finance. Concerning the freight rate forecasting, the VAR and VEC models use the past information and the cointegrating regression model assumes future information, and hence the former models are found better than the latter model. Finally, concerning the strategies of shipping firms, this study recommends the use of cycle-linked repayment scheme and services contract.

• Journal of the Society of Naval Architects of Korea
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• v.40 no.1
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• pp.47-54
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• 2003

The majority of small/medium sized shipbuilders in Korea is poor in capital and then, should be restructured as an efficient production system with low investment. Due to considering this situation, the cooperative work system is proposed, in this study, as more effective production system for small/medium sized shipbuilder The cooperative work system Is the production system that many small/medium sized shipbuilders in a group jointly share the common facilities except minimum equipments and have managerial cooperation such as joint purchase of raw materials. The efficiency of cooperative work system is proved from economic and technical point of view with the case study of FRP shipbuilders of Sapjin industrial complex located at Mokpo area.

• Journal of Korea Port Economic Association
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• v.24 no.2
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• pp.209-239
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• 2008

The purpose of this paper is to investigate the effectiveness of Korean port investment by using the newly developed slack-based multi-year panel congestion model of DEA(Data Envelopment Analysis). Inputs[port investment amount, cargo handling capacity, and berthing capacity], and outputs[cargo handling amount, number of ship calls, revenue, and score of customer service satisfaction] are used during 1994-2004 for 20 Korean seaports. Empirical analysis identified congestion especially in port investment as input at the ports of Gunsan, and Busan in the all 3 models, and the ports of Pyungtag, Mogpo, Yeosu, and leju in over 2 models. Port investment induced the rapid increase of port efficiency from the ports of Masan, Incheon, Donghae, and Samcheok. Therefore other ports except these ports should examine the reason about the inefficiency of port investment by searching out the situation of each ports directly. The main policy implication based on the findings of this study is that The Ministry of Land, Transport and Maritime Affairs in Korea should introduce the new measurement way after reviewing the multi-year slack-based congestion approach when the amount of port investment for each port is decided.

• Journal of the Korean Society of Safety
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• v.27 no.1
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• pp.105-110
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• 2012

Although reinforcement of work intensity caused by the recent prosperity of shipbuilding businesses and the steady increasing of results which produces orders has difficulties with heavy workload, unique work circumstance in shipbuilding industry where main and subcontractor do the job together is not easy to manage its safety systematically. According to KOSHA(Korea Occupational Safety & Health Agency), there were 2, 587 deaths of 95,806 disaster victims a year on average for late 6 years(2003-2008), therein 36,605 disaster victims and 646 death in manufacture where shipbuilding have 2,287 victims, 6.25% of total disaster victims and 45 deaths, 6.97%. Moreover it shows much higher accident rate in shipbuilding industry in Korea than well developed countries in this industry as Japan, Singapore, Taiwan and so it does about 3 to 10 times higher in case of death. Compared to Japan with a shipbuilding competition of orders received system, 2 times and 2.3 times higher for each and it is more than 2 times higher than accident rate of all domestic industries. These increasing of disaster result in a labor-management dispute and it is necessary that more positive efforts and investments because there occurs blind spot, neglected industry safety and health management by lack of them, Therefore this study, for the effective safety and health management of shipbuilding industry, attempts to analyze risk on kinds of ships and budget needed in safety management through classifying ships that are being made recently by three dominate major companies. For this, we carried out a survey and interview targeting experts related to shipbuilding industry and used AHP(Analytic Hierarchy Process) for result analysis. It is considered that cost of safety and health management will be spent more effectively on the results about risk on kinds of ships and budget needed in safety management in the study and that this study can contribute to decreasing disasters in shipbuilding industry.

• Journal of Korea Port Economic Association
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• v.31 no.2
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• pp.23-40
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• 2015

This study measures how Korean shipping policies influence the expansion of the country's merchant fleet using system dynamics. It uses various indexes as factors influencing the gross tonnage of the Korean merchant fleet, such as the Baltic Dry Index, Howe Robinson Container Index, China Containerized Freight Index, and Worldscale Index, as well as the US dollar-Korean won exchange rate, world merchant fleet statistics, and the debt ratio of Korean shipping companies. After establishing the simulation model, the mean absolute percentage error is found to be less than 10%, confirming the accuracy of the model. Therefore, a sensitivity analysis is conducted to measure the influence of the selected shipping policies, including the gross tonnage of vessels registered under the Korean second registry system, loans of publicly owned financial institutions to shipping companies, ship investment fund, and the number of shipping companies participating in the tonnage tax scheme. The sensitivity analysis reveals that the influence of vessel tonnage and loans to shipping companies is the most significant, while that of the number of companies participating in the tonnage tax scheme is minimal.

• Journal of the Korean Society of Marine Environment & Safety
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• v.15 no.2
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• pp.119-125
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• 2009

Recently the construction of bridges crossing navigable waterways is being promoted aiming at expanding social infrastructure and optimizing the overland routes through private investment. The construction, however, tends to focus on more the commercial requirements than the marine safety and efficient port management that it has a big risk not only to fail in ensuring the safety of ship traffic, but also to muse some severe conflicts between the parties concerned. These problems result from the lacking of standards about the design guidelines and discussing process considering the marine traffic safety when designing bridges. This research attempts to show the problems mused by bridge construction and suggest the standard discussing process through the survey and process analysis on Kwangyang Bridge and Incheon Bridge.

• Journal of Korea Port Economic Association
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• v.29 no.2
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• pp.137-157
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• 2013

Korean shipping industry is ranked the fifth largest in the world in terms of deadweight tonnage after Greece, Japan, Germany and China with 55 million DWT as of year 2011, and its size of foreign exchange earning marked 30 billion US dollars. In respect of volume of seaborne trade, it has handled 99% of import and export cargoes. Korean shipping fleets have increased from 420 to 979 ships between year 2003 to year 2011. By reviewing through the relating literatures, it has been found that Shipping Funds under Ship Investment Company Act, and Tonnnage Tax System, worked as positive influences to increase the Korean shipping fleets. However, there is scant of research to examine the following two points: 1) weighing the decision making factors of ship investments for Korean shipping companies, and 2) weighing the influential factors of government shipping policies. In this respect, the aim of this study is to evaluate 8 decision making factors of ship investments for Korean shipping companies, and 8 influential factors of government shipping policies. For weighing the factors, the fuzzy methodology was adopted. As the results, for the side of decision making factors of ship investments, 'shipping market conditions and future prospects', 'ship's price and future prospects, and 'securing cargoes and future prospects' are ranked as top 3 factors. For government shipping policies side, 'shipping finance provided by lease companies', 'establishment of Korea Shipping Guarantee Fund', and 'establishment of Korea Shipping Finance Corporation' are verified as the important factors.