• 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.

• Journal of Navigation and Port Research
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• v.30 no.3 s.109
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• pp.211-217
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• 2006

In recent years, the pileup of world ports is deepening as time goes by due to China effect and continuous increase of world trade volume. The shipping companies try to reduce their shipping cost by using mega vessels in the ports. Shipping companies consider most of the ships turnaround time as a critical factor when selecting a calling port for reducing cost. This paper will suggest how we can guarantee terminal QoS like ship waiting time ratio and ship residing time applying RFID(Radio Frequence IDentification) technology, raising up rapidly as a fundamental solution of new growing industry to port information system. Also, lead time of whole port logistics can be decreased for reduction of loading & discharging time and result from productivity improvement of Twin-lift G/C(Gantry Crane} as applying RFID technology to terminal operation. The purpose of this paper suggests that the new business model of U-Port which port QoS can be guaranteed using RFID based RTLS technology.

• Journal of Korea Port Economic Association
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• v.24 no.1
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• pp.1-10
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• 2008

This paper analyses the dynamic causal relationship between vessel export and economic growth using annual data over the period from 1977 to 2006. Tests for ADF unit-roots, the dynamic vector using Johansen's multiple cointegration procedure, dynamic vector error correction model and impulse response function are presented. The findings of the Granger test suggest that vessel export Granger-causes economic growth in the short-run and economic growth Granger-causes exports in the short and long-run. The empirical results of impulse-response analysis show that the vessel export to a shock in real GDP responds positively and the real GDP responds positively to the shocks in vessel export. Also, the results indicate that the impact of vessel export shock on the real GDP is short-lived.

• Journal of Navigation and Port Research
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• v.32 no.3
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• pp.173-178
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• 2008

Asian container market, expecially in the NEA(Northeast Asia) region, has been growing continuously according to international specialization of manufacturers. The circumstances surrounding port industry has also been changing rapidly. Global liner and GTO( Global Terminal Operators} have strengthen there market share with M&A and increased entry to Asia market. The competition in NEA have deepen with change of circumstance and the growth of Chinese ports while Busan port decreasing its growth rate and market share. Therefore, this study analysed the change of the port concentration in NEA and the positioning of Busan port by year. In the result, the competitive position of Busan port weakening continuously and loss much volume to competition port, and it suggests that a globalization strategy is essential for making sure of competitiveness based on the result of this paper.

• Journal of Korean Port Research
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• v.15 no.1
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• pp.27-35
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• 2001

In order to deal with the increase of container cargo traffic volume more effectively, the ministry of maritime affairs & fisheries has a long-term plan to develop Gaduk Island. According to the plan, the New Port will handle 4,600,00TEUs annually. The completion of the project will enable the port of Busan to perform as a hub port in the Asia Pacific era of the year 2000 with sufficient port facilities, and this will lead to a new era of oceanic Korea. With the advent of the Pacific Rim Era of the year 2000, Busan metropolis has set a strategic development plan to establish the area as the center of logistics in the noreast Asian region as well as to become the stronghold of economic activity in Korea's southeast region. To this end, industries that will open the doors to a marine era and a new industrial complex focused on logistics are planned in the West Busan area where Gimhae International Airport and the Busan New Port meet. This paper aims to find out the functional relation and complement between the Busan New Port Distri-Park handing container cargo traffic volume and the West Busan Logistics Pa가 handling an air cargo and railroad goods. Especially, paper aims to suggest the West Busan Logistics Park as the efficient management of the container cargo traffic volume due to the Development Plan of the Busan New Port.

• Proceedings of the Korean Institute of Navigation and Port Research Conference
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• 2005.10a
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• pp.303-309
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• 2005

This paper will suggest how can we guarantee terminal QoS like ship waiting time ratio and ship residing time applying RFID(Radio Frequence Identification) technology, raising up rapidly as a fundamental solution of new growing industry, to port information system. Also, lead time of whole port logistics can be decreased for reduction of loading & discharging time resulted from productivity improvement of Twinlift G/C(Gantry Crane) and Y/T(Yard Tract) etc as applying RFID technology to terminal operation. The purpose of this paper is suggesting of new business model of u-Port that port QoS can be guaranteed from mutual agreement of each terminals RFID technology applied and focusing on the implementation plan.

• Proceedings of the Korean Institute of Navigation and Port Research Conference
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• 2019.05a
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• pp.142-143
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• 2019

Busan Port ranked 6th in the world with 21.67 million TEUs of container handling in 2018, but the ship supply industry has fallen short of that. Despite its technological prowess, Korea's ship supply industry lacks competitive edge in many aspects such as government support, integrated platform, and infrastructure compared to overseas ship supply industries. The use of code, which is not standardized, can be cited as a leading factor that undermines the competitiveness of Korea's ship supply industries. In the ship supply industry, the use of non-standardized codes can make it difficult to manage or analyze meaningful statistics, and, by extension, can lead to the loss of new business opportunities. Therefore, in this study, we intend to use local ship supply transaction data to study how to standardize item code to solve the problem.

• Journal of Korean Port Research
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• v.4 no.1
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• pp.3-20
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• 1990

The Port of Pusan, the largest port in Korea, handled 23% of total sea borne cargo movement, 14% of imported cargo, 58% of exported cargo and 95% of container cargo in 1989. Also the port of Pusan has been played a key role in handing container cargo throughout the last 10 years. The paper is aimed to survey the effect of sea borne cargo movement to urban transportation, that is, to find traffic volume arising by general/bulk cargoes through the port and to estimate vehicle rated of container tractor tailer on the roads between terminal including conventional piers and ODCY, and finally the following results are obtained. (1) AADV of truck to transport general/bulk cargoes are 6,322 units in 1989,and routes penetrate into the center of city and pass through the most of urban arterials. (2) In the container transport, if HVEF is adopted to 3 of tractor trailer, AVR in each transport freeway 13.7%. (3) IF HVEF is adopted to 6 of tractor trailer. AVR are as follows: BooDoo-Ro 44.1%, WooAm-Ro 39.3%, SooYoung-Ro 17.8%, Urban freeway 20.3%. Based upon these results, the following suggestions were drawn : o ODCY scattered around the city should be unified in a few groups to raise port productivity. o Rail service for inland container transportation should be escalated to relieve urban traffic congestion. o Coastal feeder service between terminal and hinterland should be studied to restrict the penetration of container tractor trailer into the central parts in the urban areas. o Exclusive freeway system for effective container transportation should be implemented to reduce urban traffic delay.

• Journal of Navigation and Port Research
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• v.46 no.4
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• pp.375-384
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• 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 Distribution Science
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• v.5 no.2
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• pp.55-78
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• 2007

Northeast Asia is one of the regions which have been developing so rapidly. Yellow sea, located between Korea and China, became a very important logistical zone because of its huge volume of cargo and big passenger traffic. These two countries continuously are enlarging their port facilities such as berths, container yards, storage capacity and their information system in this the Pan Yellow sea area. Two countries also introduce many new liner routes and car-ferry shipping services. Therefore there must be a severe competitions and conflicts among the countries and their companies and ports as well. Some experts worry about the over capacity of port and logistics facilities. This paper investigated the current conditions of Korea-China shipping route, container and car-ferry route, and found out the problems and tasks, with the support of many experts. There are so many alternatives and strategies to solve and rationalize the shipping route and the problems of ports of two countries. This paper suggest many strategies connecting with marketing 4Ps. As port service is also a kind of service product, we can categorize the strategies into 4Ps suggested by McCarthy. And this paper classify all these alternatives into 3 dimensions. There are competitive strategies, cooperative strategies and coopetition strategies. This paper propose some directions and ideas for adopting the strategy in the port and logistical topics between Korea and China, suggesting 3 dimensions of strategies. After this paper, many diagnoses and practical investigations should be executed to introduce optimal solutions and minimize the additional cost.