• Korea Trade Review
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• v.48 no.1
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• pp.127-163
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• 2023

The objective of this study is to investigate the volatility spillover effects among BDI, CCFI and SCFI. This paper will divide the empirical analysis section into two periods to analyze and compare the differences in volatility spillover effect between shipping freight indices before and after the outbreak of COVID-19 separately. First, in order to compare the mean spillover impact and index lead-lag correlations in BDI and CCFI indices, along with BDI and SCFI indices before and after COVID-19, the co-integration analysis and the test of Granger causality built on the VAR model were utilized. Second, the impulse response and variance decomposition are employed in this work to investigate how the shipping freight index responds to shocks experienced by itself and other freight indices in a short period. Before the COVID-19 epidemic, the results demonstrated that the BDI freight index is the Granger cause of the variable CCFI freight index. But the BDI and CCFI freight indices have no apparent lead-lag relationships after COVID-19, and this empirical result echoes the cointegration test result. After the COVID-19 epidemic, the SCFI index leads the BDI index. This study employs the VAR-BEKK-GARCH joint model to explore the volatility spillover results between dry bulk and container transport markets before and after COVID-19. The empirical results demonstrate that after COVID-19, fluctuations in the BDI index still affect the CCFI index in the maritime market. However, there is no proof of a volatility spillover relationship between the BDI and SCFI after the COVID-19 epidemic. This study will provide an insight into the volatility relationship among BDI, CCFI and SCFI before and after the the COVID-19 epidemic occurred.

• Journal of Korea Port Economic Association
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• v.26 no.4
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• pp.122-146
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• 2010

This purpose of this study is to analyze the causal relation among constituent concepts and verify the relation among internal marketing, service quality and customer satisfaction in shipping companies. To achieve the goal of this study, the author studied literatures on internal marketing, service quality and customer satisfaction, and carried out a survey targeting people working for shipping companies and international logistics freight forwarders to make an empirical analysis. The results are as follows. It was confirmed that education and training, reward system, empowerment among internal marketing elements of a shipping company have a positive effect on the service quality and customer satisfaction of the shipping company, and the service quality of a shipping company also has a positive effect on customer satisfaction. As it can be known from these results, it would be necessary to concentrate on internal marketing of a shipping company in order to increase service quality and customer satisfaction.

• Journal of Navigation and Port Research
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• v.28 no.5
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• pp.385-393
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• 2004

This paper describes not only the complexities of LNG business including shipping sector but also its own current environmental changes. Furthermore, system dynamics (VENSIM analysis) as a methodology is introduced to analyze the potential LNG shipping market in the future. As a result of the VENSIM analysis, potentiality of the spot LNG shipping market is systematically established in connection with embodiment of the spot LNG market. This paper suggests three methods, which are centered on newbuildings of ships, for the shippers to prepare for the spot LNG shipping market on the basis that maritime economics can make a direct contribution to the shippers' business decision-making.

• Korea Trade Review
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• v.43 no.2
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• pp.181-204
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• 2018

This study examines the existence of a target leverage and determinants of book and market leverage. A data set of shipping firms from 2009 to 2016 was used to conduct an empirical study. The target leverage which cannot be observed in the market is estimated using a partial-adjustment model of firm capital structure. This study found that factors affecting the capital structure differ with respect to firm size, book value leverage and market value leverage. Shipping firms have a target leverage, adjust the actual leverage toward that target leverage, and consider the target leverage as an optimum leverage. The deviation of the leverage from the target leverage plays an important role to explain changes of leverage level. The greater the deviation results in greater adjustment of shipping firms toward targets. A high level of initial debt reduces leverage changes.

• The Journal of shipping and logistics
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• v.34 no.4
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• pp.583-613
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• 2018

This study analyse the safe port warranty undertaking for shipowner of time charterer with the Ocean Victory Case. Litigation ensued between those in the charterparty chain. When the hull insurer, Gard, took an assignment of the rights of the vessel's owners and demise charterers in a claim against the time charterers that the vessel had been ordered by them to an unsafe port in breach of the charter. Although the claim succeeded, the Court of Appeal overturned the decision. The Supreme Court delivered its judgment on May 10, 2017, dealing with three important issues, safe port, joint insurance, and limitation of liability. Especially on the safe port issue, the court held that the port was not unsafe within the meaning of the safe port undertaking so the charterers were not in breach of it. The conditions in the port amounted to an abnormal occurrence as that expression is understood.

• Journal of Korea Ship Safrty Technology Authority
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• s.36
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• pp.43-55
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• 2014

새 정부는 국민의 행복실현을 위해 안전의 중요성을 강조하고 있다. 이에 해양수산부에서도 해양사고 30% 감소를 목표로 해양안전실천운동본부 발대식 및 해양안전헌장 선포, 선박안전관리자협의회 출범 등 민 관이 함께 해양에서의 안전 확보에 노력하고 있다. 그러나 안전관리의 주체인 해운선사의 안전관리 수준을 객관적으로 평가하기 위한 평가지표 및 안전관리 평가시스템 등은 없는 실정이다. 이에 본 연구에서는 도로, 철도, 항공 등 타 분야의 안전관리 정보시스템 구축 및 운영사례를 조사 분석하여 시사점을 도출하였다. 또한 해운선사의 안전관리 수준을 평가하기 위해 해양사고정보, 항만국통제 점검결과, 안전관리체제 심사결과 데이터를 분석하여 이들 데이터를 통합 관리할 수 있는 데이터베이스의 구축, 평가프로그램을 개발하였다. 본 연구에서 개발한 안전관리 평가시스템을 이용하여 해양안전 우수사업자 평가업무, 우수 선박관리사업자 인증업무 등에 활용할 수 있을 것으로 기대된다.

• Journal of the Korean Society of Marine Environment & Safety
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• v.28 no.2
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• pp.324-333
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• 2022

The COVID-19 pandemic reminded us again of the importance of essential workers who perform their roles in maintaining the stability of people's daily lives worldwide. Therefore, the International Maritime Organization and overseas countries designated seafarers as essential workers and proposed relevant measures for their protection to enable them to perform their role. In particular, the International Maritime Organization (IMO) urges related associations and member states to support safe boarding and disembarkation of seafarers. However, Seafarers were restricted from boarding or disembarking, shore leave and hospital treatment in certain countries owing to extreme nationalism. This study compares and analyzes the cases of international organizations and major overseas countries to provide a logical basis for the protection of seafarers who play an essential role in the safety of the global supply chain despite the COVID-19 pandemic. This study identifies the need to protect seafarers and their roles as essential workers in the shipping industry and suggests necessary aspects and institutional improvement measures for improving seafarers' working environment to strengthen the shipping industry's resilience. This study is expected to serve as future basic data for national policies aimed at reflecting the roles of seafarers as essential workers and the need to protect them.

• Journal of the Korean Society of Marine Environment & Safety
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• v.16 no.1
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• pp.93-99
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• 2010

Republic of Korea is the first country which received international aids, h1s become a member of DAC, and recently has strengthened the international aids policy through ODA(Official Development Assistance). Korea ODA has focused on the area of education, social infrastructure, etc., but not on maritime affairs. However, since Korea has become a maritime country and a member of "A Group" council of IMO, the international shipping community including IMO strongly requests Korea to transfer Korea's maritime safety technology to developing countries for the sake of international maritime safety and marine environment protection. In this study, the direction of road map for effective transfer of maritime safety technology and marine environment protection technology was presented. The strategy for implementation of the suggested road map was proposed as well.

• Korea Trade Review
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• v.48 no.2
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• pp.175-195
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• 2023

This study is for analyzing the relation between Korean Water transport and the other main countries Water transport. In the Free trade system, Maritime transport has a high impact on the global economy as well as the each countries. The division of labor through the global value chain(GVCs) has became the ordinary activity in business, and in Maritime shipping,, there are the International trade among countries. Therefore, This study analyze relation of Korean water transport and other 13 regions using World Input-Output Table(WIOT) by Asia Development Bank(ADB). The result of analysis, the proportion of intermediate goods in the input structure of Korean water transport is about 70%, and the ratio of using domestic products is higher than the major European countries. However, since 2000, intermediate inputs from foreign countries have steadily increased, and added value has decreased. Countries with a high relation with Korean Water transport industry are United States(USA) on the input structure, Singapore(SIN) and Japan(JPN) on the distribution structure. Analyzing the relation through the production inducement coefficient, Singapore(SIN) has the high relationship with Korean Water transport industry.

• Journal of Korea Ship Safrty Technology Authority
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• s.31
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• pp.49-59
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• 2011

17,508개의 도서로 이루어진 군도국가 인도네시아의 지리적 기후적 특징을 소개하고 그와 관련된 현지 인도네시아의 해사안전체계 현황과 실태를 설명하고 있다. 최근 인도네시아 정부는 호주 및 일본과의 해상운송분야의 안전성 제고를 위한 국제협력사업을 수행중이거나 수행하였으나 아직까지 해사안전관리 체계가 국제적 표준에 미치지 못하는 실정임에 따라 이를 보완하기 위한 노력의 일환으로 IMO협약 비준을 통한 해사안전규정의 강화와 아울러 Navigation Aids 설치 확대 및 전자해도개발 등 해사안전관리체계의 선진화를 시도함과 동시에 선진국을 상대로 자금지원과 선진화된 기술이전을 위한 국제협력의 문을 개방하고 있다. 이에 부응하여 조선 및 해운분야의 선진국인 우리나라가 인도네시아 정부와 해사안전분야의 활발한 국제협력을 통하여 우리나라 조선 및 관련 기자재 산업의 인도네시아 진출을 위한 새로운 계기를 만들어야 할 것이다.