• Proceedings of KOSOMES biannual meeting
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• 2003.05a
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• pp.41-58
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• 2003

A recent trend of global shipping industry adopting Port State Control (PSC) system is recognized as a proficient mechanism in preventing costal traffic accident and protecting marine environment. Disadvantages of Korean shipping companies in PSC inspection are unavoidable as Tokyo MOU imposed priority listed flag to Korea. Having stated above, appropriate research and prompt preparation in compliance with current PSC requirements for the Korean shipping companies have become an immediate need. The objectives of this study are : First, to review in understanding of PSC in overall and foundation of enforcement. Second. to study interaction of international treaties regarding PSC. Third, to compare practical compliance among the countries and to open up a case study on Korean shipping companies in adopting PSC. Last, to suggest direction to the Korean shipping companies the most proficient way in compliance with the current Tokyo MOU requirement. Korean flagged vessels have become prioritized target in PSC inspection as Tokyo MOU imposed priority listed flag to Korea due to high detention rate of its fleet. Disadvantage of a priority listed flag is a burden in its proficient fleet operation. This study suggests solutions to the disadvantages as below. : 1) Change shore management system, and provide continuous & quality education to crew members 2) Form a network in sharing PSC information among the Korean shipping companies 3) Form a centralized function in which government, Korean Shipping register and shipowners can treat problems in a prompt manner.

• Journal of Navigation and Port Research
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• v.38 no.2
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• pp.177-184
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• 2014

Recently, brand equity is paid much attention in various industries. However, container liner shipping companies are still unfamiliar with this concept, and also the brand equity model has not been tested yet in shipping context. This study, therefore, aims to measure the relative importance of brand equity factors of container liner shipping companies by employing AHP (Analytic Hierarchy Process). This study concludes that perceived quality, in particular cost-related service quality, is the most influential factor of brand equity, while weak support is found for brand association. In addition to this, group comparisons were conducted between shipping companies, freight forwarders and academics. The results will be useful as they firstly define brand equity and its role in shipping context, highlighting the significance of brand management to container liner shipping firms. This evaluation is not an end in itself, but will eventually be utilised as a tool to build competitive advantage which cannot be easily imitated by competitors.

• Journal of Distribution Science
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• v.14 no.6
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• pp.99-106
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• 2016

Purpose - The antecedent to the relationship between the effect of the characteristics of strategic alliances and the performance of container liner shipping companies has been investigated in this study as container liner shipping companies' strategic alliances. It affects positively and negatively home, partner, and the third parties' performance in container liner shipping companies. Extensive literature reviews on shipper's strategic alliances reveal that strategic alliances in financial and non-financial performance of container liner shipping companies show the performance such as economic effects, business performance, global supply chain management performance, customer satisfaction, and forward integration and backward integration performance. The purpose of this study is to test empirically that the relationship between the characteristics of strategic alliances and financial and non-financial performance in container liner shipping companies. Structured equation modeling and confirmatory factor analysis were used to test the hypothesis using AMOS statistics program. Most previous researches focused on the relationship between the characteristics of strategic alliances and alliance types. There are few empirical studies that focus on business performance data because it is difficult to collect data in container liner shipping companies. However, this research measures financial and non-financial performance differently compared with the previous researches focusing on the characteristics of strategic alliances and alliance types measurements. Research design, data, and methodology - The conceptual model for the study is based on the studies of Lim (2010), Chen & Zhen (2009), and Wang & Meng (2014). The model is built around the factors of characteristics of strategic alliances and business performance. Cost, marketing, and service factors are regarded as proxy for the characteristics of strategic alliances. The financial and non-financial performance are regarded as proxy for the performance of strategic alliances. Based on the analysis of one hundred cases such as forwarder, shipper, and liner shipping companies, this study uses structural equation modeling to verify the effects of the characteristics of strategic alliances on business performance. Conclusions - This study provides container liner shipping companies to get some policy and practical implications in terms of the characteristics of strategic alliances and business performance. First, the cost factor for alliances characteristics has a positively significant influence on the financial and non-financial performance of strategic alliances. The cost factor relationship between high and low performance group does not have a significant difference on the performance of strategic alliances. Second, the marketing factor of alliances characteristics has a positively significant influence on the financial and non-financial performance of strategic alliances. The high performance group's marketing factor has a great non-financial performance than low performance group, but the low performance group's marketing factor has a grater financial performance than high performance group factor does. Third, the service factor of alliances characteristics has a negative influence on the non-financial performance of strategic alliances. The high performance group's service factor has a great non-financial performance than low performance group. Based on the findings from this study, related implications and future avenues deserve to be discussed.

• Proceedings of KOSOMES biannual meeting
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• 2017.04a
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• pp.166-166
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• 2017

Nowadays, container transport services play a substantial role in global cargo transportation by serving as an intermodal between the exporter and importer. Container shipping has become increasingly important over the past few decades due to its obvious advantages. However, Vietnam's container market has shown severely ongoing competition among numerous domestic and foreign shipping lines resulting in serious consequences occurring such as the freight rates substantially decreasing within the last ten years. In fact, Vietnam's sea lanes have become more defensive to cover the losses of shipping companies. Selection of criteria for competitive evaluation of container transport companies is necessary to help recognize the problems within the enterprise especially relating to its position in the market and from here, business management are able to put strategic plans in place and reasonable policy in order to be able to survive and grow.

• 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 Navigation and Port Research
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• v.43 no.2
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• pp.134-141
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• 2019

The objective of this study was to establish whether global macroeconomic indicators affect the profitability of Korean shipping companies by using panel regression analysis. OROA (operating return on assets) and ROA (ratio of net profit to assets) were selected as proxy variables for profitability. OROA and ROA were used as dependent variables. The world GDP growth rate, interest rate, exchange rate, stock index, bunker price, freight, demand and supply of the world shipping market were set as independent variables. The size of the firm was added to the control variable. For small-sized firms, OROA was not affect by macroeconomic indicators. However, ROA was affected by variables such as interest rates, bunker prices, and size of firms. For medium-sized firms, OROA was affected by demand, supply, GDP, freight, and asset variables. However, macroeconomic indicators did not affect ROA. For large-sized firms, freight, GDP, and stock index (SCI; Shanghai Composite Index) have an effect on OROA. ROA was analyzed to be influenced by bunker price and SCI.

• Journal of Navigation and Port Research
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• v.28 no.3
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• pp.193-198
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• 2004

In this paper, we estimate the difference of port preference and attributed importance by diving subjects of the survey into internal and external shipping companies considered as the main customers of port. From the results of conjoint analysis, it is found that there are differences in preference between domestic shipping companies and foreign ones. The difference in port preference shows; foreign shipping companies mark Shanghai port in the first place in the preference of transshipment port, while domestic shipping companies prefer Busan port. Similar results are applied to preference of rolling port. The result of the survey means it is necessary to group shipping company, when port is analyzed, because the port preference is subject to wether internal or external shipping companies. Also, it implies target marketing strategies should continuously be needed in order to maintain Busan port's preference gaining advantage over other ports and major target would be shipping companies.

• 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.

• Journal of Korea Port Economic Association
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• v.17 no.2
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• pp.167-182
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• 2001

The government of Busan Metropolitan City conducted the "Survey on Shipping and Port Logistics Companies in Busan" between May and December, 2000. This was the first comprehensive survey of Busan Port conducted from the perspective of regional & industrial economics. The objective of the survey was to find out the level of influence of the shipping and port logistics industry on the regional economy of Busan, and to obtain base data for use in establishing an actual promotion program. The survey acquired information about human and physical resources, management conditions and consciousness of the industry, In addition, the study analyzed the survey data. The results of the analysis showed a method of creating added value in support of the marketing activities of the companies, and indicated methods of achieving systematic and sustainable promotion. The government of Busan City shall develop an e-Logistics infrastructure which can deliver a synopsis and intelligent information to people and companies in the industry by the end of this year. The information system would be of great help for people who may not be familiar with Busan's port and shipping industry, particularly international shipping companies. This will result in an Increase of trade and exchange in the shipping and port logistics industry, resulting in the generation of increased added value within the near future.

• Journal of Navigation and Port Research
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• v.32 no.4
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• pp.295-304
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• 2008

In order to achieve a sustainable competitive advantage in the expanding maritime transportation market, most shipping companies are making every effort to reduce transportation costs. Likewise, the car shipping companies, which carry more than 80% of total car import and export logistics volume, also do their utmost for transportation cost saving. Until now many researches have been made for efficient maritime transportation, but studies for car shipping companies have rarely been made. For this reason, this study has tried to develop a maritime transportation planning support system which can help to save logistics costs and increase a competitive power of car shipping companies. To this end, instead of manual effort to solve the routing problem of car carrier vessels, this study has used an integer programming model to make an optimal transportation planning at the minimum cost. Also in response to the frequent changes both in the car production schedule and ship's arrival schedule after the completion of transportation planning, this research has developed a decision support system of maritime transportation, so that users can easily modify their existing plans.