• 제목/요약/키워드: Capesize Bulk Carriers

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Factor Analysis Affecting on the Charterage of Capesize Bulk Carriers (케이프사이즈 용선료에 미치는 영향 요인분석)

  • Ahn, Young-Gyun;Lee, Min-Kyu
    • Korea Trade Review
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    • v.43 no.3
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    • pp.125-145
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    • 2018
  • The Baltic Shipping Exchange is reporting the Baltic Dry Index (BDI) which represents the average charter rate for bulk carriers transporting major cargoes such as iron ore, coal, grain, and so on. And the current BDI index is reflected in the proportion of capesize 40%, panamax 30% and spramax 30%. Like mentioned above, the capesize plays a major role among the various sizes of bulk carriers and this study is to analyze the influence of the factors influencing on charter rate of capesize carriers which transport iron ore and coal as the major cargoes. For this purpose, this study verified causality between variables using Vector Error Correction Model (VECM) and tried to derive a long-run equilibrium model between the dependent variable and independent variables. Regression analysis showed that every six independent variable has a significant effect on the capesize charter rate, even at the 1% level of significance. Charter rate decreases by 0.08% when capesize total fleet increases by 1%, charter rate increases by 0.04% when bunker oil price increases by 1%, and charter rate decreases by 0.01% when Yen/Dollar rate increases by 1%. And charter rate increases by 0.02% when global GDP increases by one unit (1%). In addition, the increase in cargo volume of iron ore and coal which are major transportation items of capesize carriers has also been shown to increase charter rates. Charter rate increases by 0.11% in case of 1% increase in iron ore cargo volume, and 0.09% in case of 1% increase in coal cargo volume. Although there have been some studies to analyze the influence of factors affecting the charterage of bulk carriers in the past, there have been few studies on the analysis of specific size vessels. At present moment when ship size is getting bigger, this study carried out research on capesize vessels, which are biggest among bulk carriers, and whose utilization is continuously increasing. This study is also expected to contribute to the establishment of trade policies for specific cargoes such as iron ore and coal.

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Condition assessment of raking damaged bulk carriers under vertical bending moments

  • Kim, Do Kyun;Yub, Su Young;Choi, Han Suk
    • Structural Engineering and Mechanics
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    • v.46 no.5
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    • pp.629-644
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    • 2013
  • This paper concerns about the raking damages on the ultimate residual hull girder strength of bulk carriers by applying the modified R-D diagram (advanced method). The limited raking damage scenarios, based on the IMO's probability density function of grounding accidents, were carried out by using sampling technique. Recently, innovative method for the evaluation of the structural condition assessment, which covers the residual strength and damage index diagram (R-D diagram), was proposed by Paik et al. (2012). This concept is applied in the present study and modified R-D diagram, which can be considered vessel size effect, is then proposed. Four different types of bulk carrier structures, i.e., Handysize (37K), Supramax (57K), Kamsarmax (82K) and Capesize (181K) by Common Structural Rule (CSR), were applied to draw the general tendency. The ALPS/HULL, intelligent supersize finite element method, was employed for the ultimate longitudinal strength analysis. The obtained empirical formulas will be useful for the condition assessment of bulk carrier structures. It can also cover different sizes of the bulk carriers in terms of ultimate longitudinal strength. Important insights and findings with useful guidelines developed in this study are summarized.