• Journal of Korea Port Economic Association
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• v.39 no.4
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• pp.43-65
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• 2023

Recently, with the increasing international interest on environmental issues, efforts have been made to reduce greenhouse gas emissions due to ship fuel, however, the dependence on fossil fuel is expected to continue for a while. Since fuel costs account for a high portion of the total operating cost of a ship, it is necessary to analyze the influence of oil prices on the shipping markets. The purpose of this study is to evaluate the relationship between the international oil prices and the four major shipping markets for bulk carriers. This study employed WTI as the oil price variable while monthly data from 2017 to 2020 from the four major shipping markets by classifying freight rates, charter rates, newbuilding prices, and secondhand prices were also considered in multiple ship sizes of capesize, panamax, supramax, and handysize. Firstly, the results of the correlation analysis using the VAR model indicate that changes in international oil prices have a statistically positive (+) significant effect on BCIS only in the second time lag, on BSIS at all lags, and on BHIS only in the first staggered period. Secondly, as a result of correlation analysis using the VECM model, in the case of BPIC, BHIC, BCIN, and BHIR, the cointegration coefficient value has a negative (-) significant effect at the 5% significance level in the cointegration relationship with international oil prices. Further, in the case of the dynamic correlation, the increase in oil price in the first period of the lag leads to a decrease in the BCIN newbuilding prices while the increase in the oil price in the first and second period in the lag leads to a decrease in the BHIR used ship prices.

• Journal of the Korean Institute of Gas
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• v.4 no.2 s.10
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• pp.7-14
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• 2000

LNG (Liquified Natural Gas) carried by LNG ship is unloaded into the LNG storage tanks at the very low temperature (a little lower than the boiling point of LNG). Because LNG is unloaded through the pipeline, two phase flow appears in the pipeline. In this study, we have studied the pressure-drop mechanisms of the two-phase flow in the pipeline, and the calculation method of BOG (Boil-off Gas) amount based on the heat transfer mechanism through the insulation and the surface of the pipeline. We have developed a computer program for thermal-hydraulic analysis on the LNG pipeline system. We have also developed the optimal design program to find the optimal thickness of insulation and the pipeline size. The program searches the optimal design with the minimum capital cost of pipelines and insulation on the operating conditions of maximum allowance pressure-drop and BOG amount, etc.

• Journal of the Korea Institute of Information and Communication Engineering
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• v.25 no.8
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• pp.1124-1129
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• 2021

The application area based on UAV (Unmanned Aerial Vehicle) is continuously increasing as time passing by. In particular the UAVs which consist of more than four horizontal propellers and the functionality of VTOL (Vertical Take-Off and Landing) are utilized in diverse platforms and the application products due to their safety and aerodynamically simpler design and architectures. The most UAV missions are controlled by GCSs (Ground Control System). The GCSs are generally connected to the internet and get electrical map and environmental information such as temperature, humidity, wind speed, wind direction and so on. In this paper, we design a system for UAV system to have capability of approaching to a certain ship and monitoring her efficiently by using AIS (Auto Identification System) information. Furthermore we verify that adapting AIS on GCS side is more efficient through experiments.

• Journal of Korea Port Economic Association
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• v.35 no.4
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• pp.107-120
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• 2019

Crude oil is a resource that is being used as a raw material in major industries, representing the price of the raw material market. It is also an important element that affects the shipping market in terms of fuel costs for freight vessels. As a result, crude oil and freight rates are closely related. Therefore, from January 2009 to June 2019, this study analyzed the dependency structure between oil price (WTI) and freight rates (BDI, BCI, BPI, BSI, and BHI) using daily data. The main results are summarized as follows. First, according to the copula results, survival Gumbel copula in WTI-BDI, Clayton copula in WTI-BCI, Survival Joe copula in WTI-BPI, Joe copula in WTI-BSI, and survival Gumbel copula in WTI-BHI were selected as the best-fitted model. Second, looking at Kendall's tau correlation, there is a positive correlation between BDI and oil price. Furthermore, freight rate index (BCI, BPI, BSI) and oil price show positive dependencies. In particular, the strongest dependence was found in BCI and oil price returns. However, BHI and oil price show a negative dependency. Third, looking at the tail-dependency structure, a pair between oil price and BDI, BCI showed a lower tail-dependency. The pair between oil price and BSI showed the upper tail-dependency.

• Journal of Navigation and Port Research
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• v.43 no.1
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• pp.72-78
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• 2019

The second-hand ship market provides immediate access to the freight market for shipping investors. When introducing second-hand vessels, the precise estimate of the price is crucial to the decision-making process because it directly affects the burden of capital cost to investors in the future. Previous studies on the second-hand market have mainly focused on the market efficiency. The number of papers on the estimation of second-hand vessel values is very limited. This study proposes an artificial neural network model that has not been attempted in previous studies. Six factors, freight, new-building price, orderbook, scrap price, age and vessel size, that affect the second-hand ship price were identified through literature review. The employed data is 366 real trading records of Panamax second-hand vessels reported to Clarkson between January 2016 and December 2018. Statistical filtering was carried out through correlation analysis and stepwise regression analysis, and three parameters, which are freight, age and size, were selected. Ten-fold cross validation was used to estimate the hyper-parameters of the artificial neural network model. The result of this study confirmed that the performance of the artificial neural network model is better than that of simple stepwise regression analysis. The application of the statistical verification process and artificial neural network model differentiates this paper from others. In addition, it is expected that a scientific model that satisfies both statistical rationality and accuracy of the results will make a contribution to real-life practices.

• Journal of Korea Port Economic Association
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• v.38 no.3
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• pp.15-28
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• 2022

Bunkering refers to the supply of bunker fuel necessary for the ship operation, as well as minimizing the price and supply cost of fuel itself, and includes supplying good quality fuel oil in a timely manner and at the optimal port. Bunkering is an important criterion in terms of cost for shipping companies because bunkering involves a significant cost to the purchaser of bunkering from the time of initial purchase. This study aims to prioritize selection criteria for tramper companies to call port for bunkering. For this study, the variables were selected by analyzing the common criteria such as price, location, bunker quality and service and infrastructure etc. employed in previous studies. The AHP method was employed to prioritize the criteria in order. As a result of the analysis, the high level factors appeared in the order of price, location, bunkering quality and port service and infrastructure factors. The importance of price criterion and location criterion was found to be high. In the low level criterion of price, the bunker price per MT was ranked first in importance. In terms of location criteria, the location on the main trade route was high. In the low criteria of bunker quality and port service, the bunkering available types and bunker quality were found to be important factors, and in the low level criteria of infrastructure, anchorage and availability of bunkering during loading and discharging and port security factors were found to be important criteria. This study provides the guidelines for research designed to compare the bunkering port selection factors and to derive their importance suggesting the ways to enhance competitiveness as a bunkering port.

• The Journal of the Korea institute of electronic communication sciences
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• v.11 no.11
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• pp.1025-1030
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• 2016

The big problem of accidents at sea is negligent watch, it causes collision, fender bender, stranding, rollover, and sinking of fishing vessel. Most accidents happens without an eyewitness, it is difficult to identify the cause of the accident. VDR(: Voyage Data Recorder) is needed to identify a cause of the accident, the VDR is not usually used for fishing vessel because of high cost. Thus, this paper designs and develops a VDR system for fishing vessel. If the system is used, cause of a sea accident can be quickly identified. Also, a VDR system can be used for appropriate measures to fix a cause of the accident. Finally, it also can be helpful to prevent maritime accidents.

• Journal of Korea Port Economic Association
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• v.31 no.2
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• pp.55-67
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• 2015

This study analyzes the relationship between shipping profit and market return in the tramp trade from January 2000 to October 2014. First, we carry out the causality test and find a causal relationship between the studied variables. Second, the estimates from the Johansen cointegration test show that shipping profit is cointegrated with market return, which implies that a long-run relationship exists among the variables. The empirical results thus imply that shipping firms need diverse risk management strategies.

• Journal of Korea Port Economic Association
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• v.36 no.4
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• pp.17-30
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• 2020

In the shipping industry, it is essential to engage in the preemptive prediction of freight rate volatility through market monitoring. Considering that freight rates have already started to fall, the loss of shipping companies will soon be uncontrollable. Therefore, in this study, factors affecting the freight rates of bulk carriers, which have relatively large freight rate volatility as compared to container freight rates, were quantified and analyzed. In doing so, we intended to contribute to future shipping market monitoring. We performed an analysis using a vector error correction model and estimated the influence of six independent variables on the charter rates of bulk carriers by Handy Size, Supramax, Panamax, and Cape Size. The six independent variables included the bulk carrier fleet volume, iron ore traffic volume, ribo interest rate, bunker oil price, and Euro-Dollar exchange rate. The dependent variables were handy size (32,000 DWT) spot charter rates, Supramax 6 T/C average charter rates, Pana Max (75,000 DWT) spot charter, and Cape Size (170,000 DWT) spot charter. The study examined charter rates by size of bulk carriers, which was different from studies on existing specific types of ships or fares in oil tankers and chemical carriers other than bulk carriers. Findings revealed that influencing factors differed for each ship size. The Libo interest rate had a significant effect on all four ship types, and the iron ore traffic volume had a significant effect on three ship types. The Ribo rate showed a negative (-) relationship with Handy Size, Supramax, Panamax, and Cape Size. Iron ore traffic influenced three types of linearity, except for Panamax. The size of shipping companies differed depending on their characteristics. These findings are expected to contribute to the establishment of a management strategy for shipping companies by analyzing the factors influencing changes in the freight rates of charterers, which have a profound effect on the management performance of shipping companies.

• The Magazine of the IEIE
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• v.28 no.7
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• pp.49-55
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• 2001

1970년대에 개발된 마이크로 프로세서는 제어기기 분야 및 소형 컴퓨터에서 주로 사용되어 오다가 1980년대에 이르러 RISC(Reduced Instruction Set Computer) 구조의 도입으로 중대형 컴퓨터에 이르기까지 광범위하게 사용되고 있다. 또한 반도체 기술의 급격한 발전으로 슈퍼스칼라 구조가 마이크로 프로세서에서도 적용되고 있으며 동작 속도도 수백 MHz에 이르고 있다. 마이크로 프로세서는 프로그램을 수행하기 위해서 프로그램과 데이터를 메모리로부터 읽어 와야 한다. 그런데 메모리 용량은 빠른 속도로 증가하고 있지만 동작 속도는 마이크로 프로세서의 동작 속도에 크게 미치지 못하고 있다. 1980년에 DRAM의 접근 속도는 250nsec이었으나 1998년에 RDRAM의 동작속도는 300MHz로 70여배 빨라졌다. 그러나 마이크로프로세서는 1980년에 8086의 동작 속도가 8MHz이던 것이 1998년에는 팬티엄-2가 500MHz에 이르고 있다. 더욱이 팬티엄-2는 슈퍼스칼라 구조이므로 이를 감안하면 1GHz 이상에 이르러 120여 배 빨라진 것을 알 수 있다. 이와 같은 메모리 속도와 마이크로 프로세서 속도 차이에 더하여, 메모리와 마이크로 프로세서를 인쇄 회로 기판에서 연결하는데 따른 물리적 특성은 변화하지 않으므로 데이터 전송 폭을 넓히는 것에는 한계가 있다. 따라서 향후 컴퓨터 성능 발달을 제한하는 주요 요소 중 하나는 마이크로 프로세서와 메모리 사이의 데이터 전송 폭이다. 프로그램과 데이터가 메모리에 저장되는 본 뉴먼 방식의 컴퓨터에서 데이터 전송 폭을 줄이기 위해서는 코드 밀도(Code Density)가 높은 컴퓨터 구조를 연구하는 것이 필요하다. 한편 마이크로 프로세서는 실장 제어용으로 거의 모든 전자 제품 및 자동화 기기에서 채용하고 있다. 특히 냉장고, 에어콘, 전축, TV, 세탁기 등 가전기기와 Fax, 복사기, 프린터 등 사무용기기와 자동차, 선박, 자동화기계 등 사무 및 산업용 기기와 PDA(휴대용 정보 기기), NC(Network Computer) 등 정보 기기 그리고 각종 오락기, 노래 반주지 등 정보 기기 등에서 사용하는 실장 제어용 마이크로 프로세서 시장은 매년 10% 이상씩 성장하고 있으며, 21세기 산업을 주도하는 핵심 기술로 자리 매김하고 있다. 이러한 실장 제어용 기기는 마이크로 프로세서와 메모리 및 입출력 자이가 하나의 반도체에 집적되는 경우가 많다. 그런데 반도체 가격은 반도체 크기에 따라 결정되며, 가장 넓은 면적을 차지하는 것은 메모리이다. 따라서 반도체 가격을 낮추기 위해서는 메모리 크기를 줄여야 하며, 이를 위해서 또한 코드 밀도가 높은 컴퓨터 구조에 대한 연구가 필요하다. 최근에는 322비트 RISC 명령어를 16비트 명령어로 축약한 구조가 연구되었다. ARM-7TDMI는 ARM-7의 16비트 축약 명령어 구조이며, TR4101은 MIPS-R3000의 16비트 축약 명령어 구조이다. 이들 16비트 축약 명령어 RISC는 종래 RISC와의 호환성을 위하여 2가지 모드로 동작하므로 구조가 복잡하고, 16비트 명령어에서는 8개의 레지스타만을 접근할 수 있으므로 성능이 크게 떨어지는 단점을 가진다.