• Journal of the Korean Institute of Navigation
• /
• v.18 no.2
• /
• pp.57-67
• /
• 1994

This paper treats the optimization analysis of tactical ship scheduling problems in the world seaborne bulk trade. The authors use the term 'tactial' to describe the ship scheduling problem where the owners should employ skillful tactics as an expedient toward gaining the higher profits per period in short term. Relevent research and related problems on ship scheduling problems are reviewed briefly and a model for the tactical ship scheduling problem formulated as Set Problem is introduced by modifying the previous work of Fisher(1989). The reality and practicability of the model is validated by some ship-ping statistics. Proper solution approaches are outlined in the context of computational tractability in tackling the Mixed Integer Propramming. Some underlying consideration for the computational experiment is also mentioned. The authors conclude the paper with the remarks on the need of user-friendly Decision Support System for ship scheduling under varying decision environment.

• Journal of the Korean Institute of Navigation
• /
• v.6 no.2
• /
• pp.65-75
• /
• 1982

During the last decade the world had experienced oil crisis twice: the first one was the fourfold jump in oil prices in 1973 and 1974, the second one came in 1979 with 2.6 times price hike. The current crude oil prices stand around the level of $30 a barrel. The first reaction came quick, with reduced oil consumption and a general decline in economic activity. Furthermore, the second oil crisis has brought about tremendous and varied impacts upon the shipping industry, which is now undergoing an adaptation process to the changing environments. This article is divided into five chapters: chapter I is the introduction on the subject under examination; chapter II is devoted to the trends of the seaborne trade cargoes after the oil crisis; chapter III reveals the impact of the oil price hike on ships and their desion; chapter IV deals with the challenges shipping enterprises face in terms fo economic modus operandi and new international political environments; chapter V sets forth conclusion.

• Journal of Ocean Engineering and Technology
• /
• v.33 no.6
• /
• pp.641-647
• /
• 2019

Yearly world vehicle production has continued to increase, and the global seaborne trade volumes also are recovering. Based on these positive trends, as demand for cargo ships increases in the freight transportation market, Pure car and truck carriers (PCTCs) with large gaps between decks continue to be ordered. The structural analysis of the cargo hold was performed in order to confirm its structural safety in accordance with the guidance for the direct strength assessment of the Korean Register (KR) of Shipping. And, according to the type of cargo, the maximum deflection and structurally weak area that occurred in deck 5 was confirmed. Also, it was found that the weight of the cargo had a significant effect on the deck, the primary members of the deck's structure, and pillars. The results of the structural analysis conducted in this study were added to the existing cargo load planning software. This was done so that the prediction of the maximum stress and the deflection of the deck based on the information about the cargo could be confirmed quickly. In addition, the data will be used as the basic data for rapid information management response to changes in cargo items.

• Journal of Navigation and Port Research
• /
• v.46 no.4
• /
• pp.375-384
• /
• 2022

The shipping industry is cyclically impacted by complex variables such as various economic indicators, social events, and supply and demand. The purpose of this study was to analyze the operating profit of 13 Korean liner companies over 30 years, including the financial crisis of the late 1990s, the global financial crisis of the late 2000s, and the COVID-19 global pandemic. This study was conducted to also identify factors that impacted the profit ratio of Korea's liner shipping companies according to economic conditions. It was divided into ocean-going and short-sea shipping, reflecting the characteristics of liner shipping companies, and was analyzed by hierarchical multiple regression analysis. The time series data are based on the Korean International Financial Reporting Standards (K-IFRS) and comprise seaborne trade volume, fleet evolution, and macroeconomic indicators. The outliers representing the economic downturn due to social events were separately analyzed. As a result of the analysis, the China Container Freight Index (CCFI) positively impacted ocean-going as well as short-sea liner shipping companies. However, the Korean container shipping volume only impacted ocean-going liners positively. Additionally, world and Korea's GDP, world seaborne trade volume, and fuel price are factored in the operating profit of short sea liner shipping. Also, the GDP growth rate of China, exchange rate, and interest rate did not significantly impact both groups. Notably, the operating profitability of Korea's liner shipping shows an exceptionally high rate during the recessions of 1998 and 2020. It is paradoxical, and not correlated with the classical economic indicators. Unlike other studies, this paper focused on the operating profit before financial expenses, considering the complexity as well as difficulty in forecasting the shipping cycle, and rendered conclusions using relatively long-term empirical analysis, including three economic shocks.

• Journal of the Korean Society of Marine Environment & Safety
• /
• v.21 no.6
• /
• pp.672-678
• /
• 2015

The types of hazardous and noxious substances (HNS) being transported by sea in Korea are at about 6,000, HNS transport volume accounts for 19% of total tonnage shipped in Korea, and the increase rate of seaborne HNS trade in Korea is 2.5 times higher than the average increase rate of the world seaborne HNS trade. Reflecting this trend, HNS spill incidents have been frequently reported in Korean waters, and there are increasing social demands to develop HNS management technology for the preparedness, response, post-treatment and restoration in relation to HNS spill incidents at sea. In this study, a risk-based HNS prioritization system was developed and an HNS risk database was built with evaluation indices such as sea transport volume, physicochemical properties, toxicities, persistency, and bioaccumulation. Risk scores for human health and marine environments were calculated by multiplying scores for toxicity and exposure. The top-20 substances in the list of HNS were tabulated, and Aniline was ranked first place, but it needs to be managed not by individuals but by HNS groups with similar score levels. Limitations were identified in obtaining data of chronic toxicity and marine ecotoxicity due to lack of testing data. It is necessary to study on marine ecotoxicological test in the near future. Moreover, the priority list of HNS is expected to be utilized in the development of HNS management technology and the relevant technologies, after the expert's review process and making up for the lack of test data in the current research results.

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