• Journal of Navigation and Port Research
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• v.26 no.4
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• pp.383-390
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• 2002

The time cost of ship end cargoes is one of the most important data for decision-making of port investment and operational efficiency. Studies in this area were initiated internationally by Goss and Mann in late 70's and also done in Korea 10 years ago using the same methodology as Goss. The main purpose of this paper is to revisit to estimate the time cost using updated data. The estimation was undertaken sampling data on various investment and operating costs by vessel from 205 vessels, comprising 47.5％ of the notional fleet in Korea as well as on cargoes from international trade statistics. Compared with the study of 10 years ago, major finding of this research is that time costs of liquid and dry bulk carriers have increased, in case of the former type, showing almost doubled cost increase. The increase is deemed to be caused by very expensive LNG carriers. Lowered social discount rate in this study compared with 10 years ago, in general, has mused the costs to stay at similar level to the previous study. Sensitivity tests were conducted using various social discount rates.

• Transactions of the Korean Society of Automotive Engineers
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• v.9 no.5
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• pp.46-53
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• 2001

To optimize the intake flow condition in the heavy-duty LPG SI engine, five different swirl ratios of intake port were investigated experimentally by oil spot method, LDV and single cylinder engine test. The flow characteristics near the piston surface were observed by oil spot method and magnitudes of swirl flow were measured quantatively by LDV method in the steady flow rig. The engine performances of various swirl flow were also tested with the heavy-duty LPG SI single cylinder engine. In the results, high swirl ratio, above $R_s$=2.3, was not suitable to develope a stable flame kernel and to produce high engine performance. Especially it was more serious under lean burn conditions, since turbulence intensity was smaller than bulk flow though those are increased together. These results were also confirmed by LDV measurement and oil spot method. On the contrary, low swirl ratio($R_s$=1.3) is not good to propagate a flame since the turbulence intensity and bulk flow are vanished during compression stroke and low swirl ratio has too weak initial energy for stable combustion. Therefore, the of optimized swirl ratio f3r the heavy-duty LPG engine in this work was found around $R_s$=2.0.

• Journal of the Korean Institute of Navigation
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• v.16 no.2
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• pp.1-19
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• 1992

A Study for the relation between design parameters in conceptual stage and freight cost in operation of ocean-going bulk carrier was presented by economic criterial. Ship design procedure was followed to traditional method and programmed. The measure of merit is the Required Freight Rate(RFR). Parametric method used insteady of optimization technique due to easy to illustrate the results. Calculation results to the relation ship dimension, speed and operating cost in this paper show the influence of oil price is very important. Particularly, when oil price estimated as go up, owner choose a ship which lengh is long , breadth/draft is near 2.0 and speed is low. This program is useful for shipyard, consultant officer and owner all together.

• Transactions of the Korean Society of Mechanical Engineers B
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• v.23 no.9
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• pp.1178-1184
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• 1999

The in-cylinder flow field of gasoline engine comprises unsteady compressible turbulent flows caused by the intake port, combustion chamber geometry and the change of the spatial shape. Thus the quantitative analysis of the in-cylinder bulk flow plays an important role in the improvement of engine performances and the reduction of exhaust emission. The influences of tumble intensifying valve (TIV) and swirl intensifying valve (SIV), and various intake-flow conditions are compared with the tumble ratio obtained by the measured results of the in-cylinder gas flow. In order to obtain the quantitative analysis of the in-cylinder gas flows of gasoline engine this investigation applied the particle tracking method to the analysis of gas flow characteristics. Various intake conditions such as tumble and swirl intensifying valve, the deactivated condition of one valve among two intake valves, and the other factors of gas flow are considered.

• Journal of Ocean Engineering and Technology
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• v.18 no.4 s.59
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• pp.65-70
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• 2004

Many port states, such as New Zealand, U.S.A., Australia, and Canada, have strict regulations to prevent arriving ships from discharging polluted ballast water that contains harmful aquatic organisms and pathogens. They are notified that transfer of polluted ballast water can cause serious injury to public health and damage to property and environment. For this reason, ballast exchange in deep sea is perceived as the most effective method of emptying ballast water. The ballast management plan contains the effective exchange method, ballast system, and safety considerations. In this study, we pursued both nautical engineering analysis and optimization of the algorithm, in order to generate the sequence of stability and rapidity. A heuristic algorithm was chosen on the basis of optimality and applicability to a sequential exchange problem. We have built an optimized algorithm for the automatic exchange of ballast water, by redefining core elements of the A$\ast$ algorithm, such as node, operator, and evaluation function. The final version of the optimized algorithm has been applied to existing bulk carrier, and the performance of the algorithm has been successfully verified.

• Journal of Korea Port Economic Association
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• v.27 no.2
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• pp.217-240
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• 2011

In this study, vector autoregressive and vector error correction models in the short-run dynamics are considered to analyze the effect of the changes in international crude oil prices on Baltic dry index, Baltic Capesize index and Baltic Panamax index, and the intercorrelations between Capesize and Panamax prices, respectively. First, using the vector autoregressive model, the changes in international crude oil price have a statistically significant positive effect for Capesize at lag 1, for Panamax a significant negative effect at lag 3 and a significant positive effect for Baltic dry index at lag 1. From the impulse response analysis, the international crude oil price causes Baltic dry index to increase in the sort-run and the effect converges on the mean after 3 months. Second, using the vector error correction model, the empirical results for the spillover effects between Capesize and Panamax markets provide that in the case of the deviation from a long-run equilibrium the Panamax price is adjusted toward decreasing. The increases in freight rates of the Capesize market at lag 1 lead to increase the freight rates in Panamax market at present. The Panamax responses from the Capesize shocks increase rapidly for 3 months and the effect converges on the mean after 5 months. The Capesize responses from the Panamax shocks are relatively small, and increase weakly for 3 months and the effect disappears thereafter.

• Journal of Korea Port Economic Association
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• v.39 no.2
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• pp.129-141
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• 2023

This study analyzes the dynamic characteristics of daily freight rates of dry bulk and tanker shipping markets and their forecasting accuracy by using the error correction models. In order to calculate the error terms from the co-integrated time series, this study uses the common stochastic trend model (CSTM model) and vector error correction model (VECM model). First, the error correction model using the error term from the CSTM model yields more appropriate results of adjustment speed coefficient than one using the error term from the VECM model. Furthermore, according to the adjusted determination coefficients (adjR²), the error correction model of CSTM-model error term shows more model fitness than that of VECM-model error term. Second, according to the criteria of mean absolute error (MAE) and mean absolute scaled error (MASE) which measure the forecasting accuracy, the results show that the error correction model with CSTM-model error term produces more accurate forecasts than that of VECM-model error term in the 12 cases among the total 15 cases. This study proposes the analysis and forecast tasks 1) using both of the CSTM-model and VECM-model error terms at the same time and 2) incorporating additional data of commodity and energy markets, and 3) differentiating the adjustment speed coefficients based the sign of the error term as the future research topics.

• 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 Geotechnical Society
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• v.31 no.11
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• pp.33-40
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• 2015

Volcanic rocks in Jeju Island indicate the differences in geological and mechanical characteristics from region to region, and have vesicular structure caused by various environmental factors. In this study, triaxial compressive strength tests were conducted for intact rocks sampled in northeastern onshore and offshore, southeastern offshore and northwestern offshore of Jeju Island. The estimated cohesion and internal friction angle from the results of triaxial compression tests were compared and analyzed with absorption, a parameter representing the vesicular properties of basalts in Jeju Island. As a result, it was found that the relationship between cohesion and absorption could be classified clearly, considering two different linear relationships in bulk specific gravity and absorption. As the absorption increases, the cohesion decreases exponentially. In addition, the internal friction angle decreases almost linearly with increasing in the absorption, regardless of the relationships in bulk specific gravity and absorption.

• Explosives and Blasting
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• v.38 no.4
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• pp.37-45
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• 2020

Todo was an uninhabited island located in the sea of Pusan Newport. It was a small island with the height of 32 m above sea level, and its area including the submerged part was approximately 24,400 ㎡. Unfortunately, the island was located exactly in the middle of the narrow entrance way to the North and South Container Wharfs of Pusan Newport so that a number of ships had to turn quickly to avoid collision with the island, which frequently caused collisions with other ships or cranes. To avoid such a danger and make the water way wider and deeper, the Ministry of Oceans and Fisheries decided to remove the island. This was believed to make even super-large vessels operate safely in the sea of Pusan Newport so that the competitiveness of the port could be highly enhanced. This paper describes in detail the whole process of the removing work, which was the first case of successful underwater blasting operation using bulk emulsion explosives and non-electric detonators to remove a whole island in South Korea.