• Journal of Korea Port Economic Association
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• v.27 no.2
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• pp.297-311
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• 2011

This paper deals with a strategic investment decision model for improving investment profit in shipping industry. Despite the quantitative expansion of Korean shipping business, many shipping firms have suffered financial difficulties due to financial and operating risks that result from the characteristics of capital-intensive business as well as of volatility of shipping markets. As a result, managers in charge of making an investment decision, particularly in tramper business sector, are required to take both financial and operating risk factors into consideration. Put it differently, managers are strongly recommended to avoid these risks by ship asset play; buy-low and sell-high, which results in considerable capital gain and cost reduction. In addition, managers in shipping industry are also recommended to consider the ship chartering investment alternative when the freight markets show extreme volatility as the case of 2008 triggered by sub-prime mortgage financial crisis in USA. For example, the BDI suffered plunging down from 1000 in 2008 to 100 in 2010. Consequently, the 4th largest shipping company in Korea, DAEHAN Shipping Co., has collapsed primarily due to excessive tonnage expansion during the peak time of bulk market. In sum, the strategic investment decision model, suggested in this paper, is designed to include such factors as capital gain by asset play, timely chartering for alternative shipping service, and optimization of operating profit by tonnage adjustment in accordance with change in the shipping markets concerned.

• TTA Journal
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• s.178
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• pp.8-13
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• 2018

최근 조선 및 해운경기가 급격히 위축되면서 해운사는 보다 많은 이익을 창출하기 위하여 첨단 ICT기술을 도입하여 최소 운항비 최대 이익 창출을 꾀하고 있다. IMO는 새로운 화두로서 자율운항선박이 운항 가능하도록 법적 개념 정립을 2020년까지 완료하도록 계획하고 있다. 산업계는 IMO의 NOx규제 Tier III(3.4 g/kWh, n<130), EEDI($CO_2$ 배출규제)의 Phase 1(Phase 0 대비 10%포인트 감소), Phase 2(Phase 1 대비 10%포인트 감소), EEOI 등 친환경선박 문제가 현안으로 대두되고 있는 상태에서 ICT와 결합하여 친환경 에코선박으로써 스마트선박이 문제를 해결하도록 기대하고 있다. 자율운항선박의 도입에 관해 많은 해운 전문가들 사이에 찬반의 의견이 분분하나 첨단 ICT를 도입하여 최소 운항비 최대 이익 창출을 추구하는 친환경 스마트선박의 도입에 대해서는 해운사 선주, 조선소 모두 앞을 다투고 있는 실정이다. 이러한 시점에서 세계 각 국가가 추진하고 있는 스마트자율운항선박의 연구와 기술 및 표준 동향과 우리나라가 추진하고 있는 연구와 산업계의 동향을 알아보고 새로운 전기를 맞이하게 될 글로벌 조선 산업의 미래를 조명해 보고자 한다.

• Proceedings of the Korean Institute of Navigation and Port Research Conference
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• 2012.10a
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• pp.265-267
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• 2012

OSV는 해양플랜트 운영을 지원하는 선박으로, 해저 석유가스 산업의 성장으로 동반성장하고 있는 산업이다. 2008년 글로벌 경기침체 이후 경영난에 빠져있는 구내 해운선사, 중소조선업체, 기자재업체가 동반성장할 수 있는 대표적인 산업임에도 불구하고 아직까지 국내기업의 경쟁력을 극히 미흡한 수준이다. 이에 본 연구에서는 OSV 시장의 전반적인 동향을 살펴보고 국내기업, 특히 해운선사가 진출할 수 있는 방안을 모색하였다.

• Journal of Navigation and Port Research
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• v.48 no.1
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• pp.49-54
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• 2024

This paper investigated the impact of economic cycles in the shipbuilding industry on managerial performance of marine paint and coatings firms. As part of the upstream to ship construction, the marine equipment industry plays a critical role in determining the competitiveness of the shipbuilding industry. Despite a close interaction between the two sectors, the majority of research on the marine equipment industry has highlighted securing competitiveness edge and developing advanced technologies, paying little academic attention to the relationship between shipbuilding and managerial performance. In this regard, this paper examined how economic cycles in shipbuilding affected growth and profitability of marine paint and coatings firms. To this end, managerial performances of six marine paint and coatings firms for the period of 2003-2022 were analyzed in panel regressions. Results indicated that the shipbuilding economic cycle proxied by delivery amounts of Korean shipyards was positively associated with growth and profitability of marine paint and coatings firms. However, there was divergence in statistical significance by shipbuilding indicators. While coefficients of compensated gross tonnage, gross tonnage, and monetary amount were statistically significant, that of deadweight tonnage was not. Findings of this study imply that managerial performances of marine paint and coatings firms are affected by the amount of value added from the shipbuilding industry rather than its absolute size.

• Journal of Korea Port Economic Association
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• v.31 no.4
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• pp.1-15
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• 2015

During global recessions, such as the 2008 financial crisis, Korean shipping companies have been undergoing a liquidity crisis that is comparably worse than other shipping companies worldwide. One of the reasons behind this repetitive vicious cycle can be the lack of ability to foresee the future by analyzing and understanding the volatile shipping market. Traditionally, in order to assimilate the shipping market, larger Korean shipping companies have been purchasing market reports published by Europe-based research companies and shipping brokers, leading to a digital divide by company size. To resolve this issue, the Maritime Exchange Information Center (MEIC) has been publishing shipping market reports that include essential shipping information such as freight rates by different routes; commodity trends for iron ore, grain, and coal; ship-building trends for new-building, second-hand, and demolition markets; as well as bunker price and port congestion. This research was conducted to analyze the effectiveness of four variables-information usefulness, market reflection, information composition, and latest information-on information satisfaction. If the information satisfaction was found to be adequate, the analysis of actual proof was used to determine if the customers would be willing to purchase MEIC's report when it is chargeable. All the four variables were found to have positive effects on information satisfaction. In particular, latest information was found to directly affect the intention to purchase. Furthermore, high information satisfaction was related to the intention to purchase.

• Environmental and Resource Economics Review
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• v.19 no.2
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• pp.341-360
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• 2010

The goal of this study is to forecast the scales of seaborne trade of iron ore and coal. It is assumed that the seaborne trade of iron ore is the function of two independent variables(crude steel production, world GDP) and the seaborne trade of coal is the function of two independent variables(crude steel production, world electricity generation). The result shows that the regressions of two functions are statistically significant respectively. As the results of forecasting, the seaborne trade of iron ore in 2010 may be 892 million tons which is increased 5.1% compare to the level of 2009. Also the seaborne trade of coal in 2010 may be 827 million tons which is increased 6.1% compare to the level of 2009. In terms of the compound annual growth rate, it is forecasted that the iron ore may show 4.7% of increasing rate from 2009 to 2015 and the seaborne trade of coal may be increased 6.1% annually for the same period.

• Journal of the Korean Society of Marine Environment & Safety
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• v.18 no.3
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• pp.253-259
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• 2012

The projection on the demand for seafarers is seen to continue to rise in consonance with the world's fleet increasing tonnage. It is also expected that recurring officer shortages is paramount when global markets bounce off from the economic downturn it experienced for the last few years. In BIMCO/ISF(The Baltic and International Maritime Conference/International Shipping Federation) report for 2010, a continuous effort to produce competent seafarers should be adapted and as much as possible, reduce the wastage in the industry to address the looming scenario. The Republic of Korea, an OECD member, is a powerhouse in shipbuilding industry and has also had continued to show also an expanding trend in its fleet. On the other hand, the Philippines is still acknowledged as the main source of manpower for ocean-trading vessels. In this paper, a statistical comparison of maritime graduates' career path between the two countries is presented. In conclusion, it is suggested that a mutual co-operation between the Republic of Korea and the Philippines can be established with focusing on international maritime education and training collaboration.