Browse > Article

A Heuristic Model for Appropriation of Voyage Allocation under Specific Port Condition Using Regression Analyses - With a Case Analysis on POSCO-owned Port -  

Kim, Weonjae (인천국립대학교 무역학부)
Publication Information
Journal of Korea Port Economic Association / v.29, no.3, 2013 , pp. 159-174 More about this Journal
Abstract
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.
Keywords
Heuristic Regression Model; Ship Voyage Allocation; Simulation Result; Investment Decision; Transport Cost;
Citations & Related Records
Times Cited By KSCI : 2  (Citation Analysis)
연도 인용수 순위
1 김원재, "Optimizing Total Transport Cost Incurred under Specific Port System: with a Case of Managing POSCO-owned Berths", 한국항만경제학회지, 제 26권 제 3호, 2010, 42-55
2 이진우, "항만투자평가 개선방안에 관한 연구", 한국항만경제학회지, 제 26권 제 2호, 2010, 58-81
3 포항제철 부두운영관리부, 부두운영일지, 2001-2005
4 Abdullah, S., "Heuristic Approach for University Time-tabling Problems", Thesis submitted for the degree of Ph.D., the University of Nottingham, U.K., June, 2006
5 Beenstock, M., "A Theory of Ship Price", Maritime Policy and Management, vol. 12, no. 3, 1985, 215-25   DOI
6 Brooks, M. R., and Cullinane K., "Devolution, Port Governance and Port Performance", Research in Transportation Economics, vol. 17, 2006, 55-84   DOI
7 El-Nagger, M. E., "Application of Queueing Theory to the Container Terminal at Alexandria Seaport", Journal of Soil Science and Environmental Management, vol. 1, no. 4, 2010, 77-85
8 Estrada, J., "Mean-Semivariance Behavior: Risk and Capital Asset Pricing Model", International Review of Economics and Finance, vol.16, no. 2, 2007, 169-185   DOI
9 Frankel, E. G., Port Planning and Development, John Wiley & Sons, Inc., 1987
10 Gilliam, R., "An Application of Queueing Theory to Airport Passenger Security Screening", Interfaces, vol. 9, no. 4, 1979, 117-123   DOI
11 Lai, J. W. and Chen, C. Y., "A Cost Minimization Model for Coal Import Strategy", Energy Policy, vol. 24, no. 12, 1996, 1111-17   DOI
12 Heaver, T., "The Evolution and Challenges of Port Economics", Research in Transportation Economics, vol. 16, 2006, 11-41   DOI
13 Kleinrock, L., Queueing Systems(I), John Wiley and Sons, 1983
14 Kosten, L., "Stochastic Theory of Service System", Pergamon Press, Oxford, 1973
15 Metaxas, B. M., The Economics of Tramp Shipping, The Athlone Press, Ltd., 1971
16 Musso, E., Ferrari, C., and Benacchio, M., "Port Investment: Profitability, Economic Impact and Financing", Research in Transportation Economics, vol. 16, 2006, 171-218   DOI
17 Notteboom, T. and Verhoeven, P., "The Awarding of Seaport Terminals to Private Operations: European Practices and Policy Implications", European Transport, vol. 45, 2010, 83-101
18 Yu, C. S., and Li, H. L., "A Robust Optimization Model for Stochastic Logistics Problems", International Journal of Production Economics", vol. 64, 2000, 385-397   DOI