• Journal of Korea Port Economic Association
• /
• v.35 no.3
• /
• pp.61-72
• /
• 2019

In order to enhance the competitiveness of the container shipping industry and promote its development, based on the empirical analyses using multivariate time series models, this study aims to suggest a few strategies related to the dynamics of the container shipping market. It uses the vector autoregressive (VAR) and vector error correction (VEC) models as analytical methodologies. Additionally, it uses the annual trade volumes, fleets, and freight rates as the dataset. According to the empirical results, we can infer that the most exogenous variable, the trade volume, exerted the highest influence on the total dynamics of the container shipping market. Based on these empirical results, this study suggests some implications for ship investment, freight rate forecasting, and the strategies of shipping firms. Concerning ship investment, since the exogenous trade volume variable contributes most to the uncertainty of freight rates, corporate finance can be considered more appropriate for container ship investment than project finance. Concerning the freight rate forecasting, the VAR and VEC models use the past information and the cointegrating regression model assumes future information, and hence the former models are found better than the latter model. Finally, concerning the strategies of shipping firms, this study recommends the use of cycle-linked repayment scheme and services contract.

• Proceedings of the Korean Institute of Navigation and Port Research Conference
• /
• 2013.06a
• /
• pp.163-165
• /
• 2013

IMO(International Maritime Organization) is existed the movement for revising ISM Code so that the maintenance history and the trouble information given trading in a ship can be transferred. An empirical analysis was made on the influence that will have upon shipping industry through surveying on the recognition on ISM Code revision in employees of the relevant field and on the expected problems given being amended ISM Code as the above. In conclusion, the positive effect is judged to be more in the aspect of ship safety, which is the aim of ISM Code, rather than the negative effect, which may take place given being revised ISM Code. In other words, the clean market can be formed through this because fairness is maintained on both sides given trading in a ship by which opening the maintenance record and the trouble history is applied equally to a buyer and a seller. Ships can be reduced a loss of time and cost in preventing similar problems and seeking solution that may appear in important equipments, through this maintenance record. Also, based on these materials, it comes to be available for analyzing a risk of ship and preventing and managing a risk, thereby being increased ability of maintenance and repair in a ship, resulting in being judged to likely contributing to ship safety and environmental-pollution prevention.

• Journal of Korea Port Economic Association
• /
• v.24 no.4
• /
• pp.363-384
• /
• 2008

This study aims at improving Korea's competitiveness in port logistics through marketing strategy with integrating the conceptual approach into the empirical one and combining both the oldest military treatise and the newest evaluating model in social science that was applied by the HFP(hierarchical fuzzy process) model enhanced by the KJ method. The empirical results of this study show Busan in the middle among subject ports. At present, Korea plays a reciprocal role in the port market in East Asia, but in the medium- and long-term, Korea's ports will vie together with most major ports in the East Asian region. A descriptive investigation shows that Korea's developing tasks in port logistics must be considered in the context of the direction for developing port policies, the necessity of expanding port facilities in the capital region, securing the sufficient traffic volume through the establishment of the hinterland linking system and its positive utilization, and reforming the direction for developing the global logistics through increased port competitiveness. In the short- and medium-term, Korea must use the opportunity factor of 'Growth and open door policy of China' as a geoeconomic advantage and to utilize Korea's ports as a gate to Chinese foreign trade. With the rise of China's economy, China also plays a significant role in both port and airport markets. Hence, the linking system between the two must be established to meet the expanding traffic volume, especially in the capital area. Moreover, it is necessary for Korea to secure port logistics through the establishment of the hinterland linking system and its positive utilization. The great accomplishment of this paper is to present strategies to increase Korea's port competitiveness in the rapidly changing environments of world logistics with the focus on both the oldest military strategic treatise and the newest empirical method in social science. In order to reinforce this study, it needs further compensative research because the evaluation structure could be subdivided with more extensive and precise criteria.

• 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 Navigation and Port Research
• /
• v.34 no.1
• /
• pp.39-44
• /
• 2010

Domestic ship management was extended by the growth of the shipping industry. It is time to specialize and globalize ship management not simply deploying seaman but managing ship owners' properties. This paper analyzes the reasons that Japanese ship management, which has been influenced ship management business in Korea, could not own the international level of companies and suggests the decline model of Japanese ship management business. Finally This paper provides the successful model of ship management business in Korea and the way to convert into the model.

• Food Industry
• /
• s.16
• /
• pp.82-85
• /
• 1973

세계 최대의 식품메이커 유닐리버(Unilever Ltd.)의 72년도 매상고는 88억 6천 4백44만불. 원화로 따져 3초 5천 4백 56억이 넘는 엄청난 거액이다. 유닐리버는 세계유지원료의 1/3을 매입, 세계식용유지의 반이상 공급하고 있다. 4대주력상품인 마아가린, 비누, 공업유지, 식료품 가운데 마아가린은 전유럽 수요의 75$\%$, 비누는 영국시장의 60$\%$를 장악하고 있다. 전통상품인 마아가린과 비누가 전체 매상의 약 60$\%$를 차지하고 있으나 근래에 와서는 60개국에 뿌리박고 있는 6백에 이르는 자회사와 2백 50개 직영공장을 통해 맥주, 자전거, 합판, 해운 등 경영다각화에도 힘을 쏟고 있다. 그러나 기본경영방향을 불황이나 전쟁에 영향을 받지 않는 식품을 중심으로 한 평화산업에 중점을 두고 해외시장에 진출하고 있는 것이 분명하다.

• Proceedings of the Korean Institute of Navigation and Port Research Conference
• /
• 2022.11a
• /
• pp.55-56
• /
• 2022

현재 해상교통 분야에서는 국제안전관리규약(ISM Code)과 내항선 안전관리체계 등을 통해 해양사고를 저감을 위한 다양한 정책을 추진하고 있으나, 주기적으로 발생하는 대형사고와 잦은 소형어선 인명사고로 인해 타 운송수단에 비해 위험도 높은 것으로 인식되고 있다. 최근 안전분야의 최대 이슈는 2022년 1월부터 시행 중인 "중대재해기업처벌법"이며, 해운업 분야에서는 선박안전관리사 제도 도입 문제와 안전관리의 디지털화 등이 주요 이슈로 떠오르고 있다. 본 발표에서는 최근 안전관리 현황과 주요 이슈들을 살펴보고, 2000년대 들어와 관심을 받고 있고 타 분야에서는 적용이 활발한 레질리언스 안전(Safety II) 개념을 적용한 시스템적 안전관리를 소개하고자 한다.

• Journal of the Korean Society of Marine Environment & Safety
• /
• v.18 no.4
• /
• pp.336-344
• /
• 2012

It is very important to salvage the vessel and seafarer rapidly and efficiently when maritime accident occurred, as maritime accident has a bad effect on vessel, seafarer and shipping industry as well as the whole community itself. Especially, marine salvage in relation to the accident involving huge marine pollution and loss of life will be regarded as a more important process because the accident would result more severe damages. However, domestic marine salvage forces are weaker than other country's, and private marine salvage company has poor technical and commercial base even though the Korea Coast Guard and Navy have relatively more modernized equipments and squad. Thus, it is very important to promote marine salvage operation capacity because it is related with the national security as well as the national economy. In this regard, this study examines the promoting method of marine salvage including its public and private section from the perspectives of law and systemic revision.

• Proceedings of KOSOMES biannual meeting
• /
• 2003.05a
• /
• pp.41-58
• /
• 2003

A recent trend of global shipping industry adopting Port State Control (PSC) system is recognized as a proficient mechanism in preventing costal traffic accident and protecting marine environment. Disadvantages of Korean shipping companies in PSC inspection are unavoidable as Tokyo MOU imposed priority listed flag to Korea. Having stated above, appropriate research and prompt preparation in compliance with current PSC requirements for the Korean shipping companies have become an immediate need. The objectives of this study are : First, to review in understanding of PSC in overall and foundation of enforcement. Second. to study interaction of international treaties regarding PSC. Third, to compare practical compliance among the countries and to open up a case study on Korean shipping companies in adopting PSC. Last, to suggest direction to the Korean shipping companies the most proficient way in compliance with the current Tokyo MOU requirement. Korean flagged vessels have become prioritized target in PSC inspection as Tokyo MOU imposed priority listed flag to Korea due to high detention rate of its fleet. Disadvantage of a priority listed flag is a burden in its proficient fleet operation. This study suggests solutions to the disadvantages as below. : 1) Change shore management system, and provide continuous & quality education to crew members 2) Form a network in sharing PSC information among the Korean shipping companies 3) Form a centralized function in which government, Korean Shipping register and shipowners can treat problems in a prompt manner.

• Journal of Navigation and Port Research
• /
• v.33 no.8
• /
• pp.531-537
• /
• 2009

As the Port State Control Inspection recognized that almost marine casualties are caused by human faults rather than vessel's defaults, it has put more emphasis on the qualification of ships' crew and the education required. Accordingly, for shipping companies it is an urgent task to operate effective crew education system that can meet the standards of international agreements and domestic laws. Therefore, this study aims at deriving the attitude of crews of 'S' shipping company on the education and some implication for the effective crew education systems. For this questionnaire survey has been carried out and the data analysed by the respondent groups.