• Journal of Navigation and Port Research
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• v.32 no.1
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• pp.1-7
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• 2008

Since the shipbuilding industry is at its peak to assimilate the large volume of orders in recent years, the Floating Dock has been an alternative to the dry dock which takes a certain period of time to build. Hence the use of Floating Dock is steadily increasing. Since the Skid Launching System(SLS) is used in Floating Dock, the balancing of the ship while launching is important and achieved by adjusting the Ballast tank of the Floating Dock. In this paper a Floating Dock Control Simulator for SLS is developed through the on-line interface of VRC(Valve Remote Control), Tank Level & Draft Measuring System and Valve Control algorithm on Simulation Tank Plan.

• Journal of Navigation and Port Research
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• v.42 no.1
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• pp.57-66
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• 2018

Maritime industry is affected by outside factors significantly due to its derivative demand characteristics. However, the supply side can not react to these changes immediately and due to this uniqueness, maritime industry repeats the boom-bust cycle. Therefore the government itself needs to operate early warning system in order to monitor the market and notice the upcoming risks by setting up a system to prepare for the situations. In this research, signal approach is used to establish early warning system. Overall leading index is composed of crisis index that is based on BDI(Baltic Dry Index) and various leading indexes such as finance, economy, shipping and the others. As a result of computing overall leading index which is early warning system in maritime through signal approach, the index showed a high correlation coefficient with actual maritime risk index by difference of 4 months. Also, the result was highly accurate with overall leading index's QPS(Quadratic Probability Score) at 0.37.

• Journal of Korea Port Economic Association
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• v.34 no.4
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• pp.125-140
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• 2018

This study uses daily price data on three major types of crude oil (Brent, Dubai, and WTI) and BDI from January 2, 2009 to June 29, 2018, to compare the relationship between crude oil prices and BDI for rate of change and volatility. Unlike previous studies, the correlation between BDI and crude oil prices was analyzed both the rate of change and variability, VARs, Granger Causality Test, and the GARCH and DCC models were employed. The correlation analysis, indicated that the crude oil price change rate and volatility affect the BDI change rate and that BDI volatility affects the crude oil price change rate and volatility. The relationship between oil prices and BDI is identified, but their correlation is low, which is likely a result of lower dependence on crude oil as demand for natural gas increases worldwide and demand for renewable energy decreases. These trends could result in lower correlations over time. Therefore, focusing on the changing demand for raw materials in future investments in international shipping(real economy) and oil markets and macroeconomic analysis is necessary.

• Journal of Korea Port Economic Association
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• v.38 no.4
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• pp.13-23
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• 2022

In this study, from January 2015 to April 2020, we propose a stochastic volatility model to capture the leverage effect on daily freight yields in the dry cargo market and analyze the freight yields. Estimation involving the Bayesian Markov Chain Monte Carlo method for the leverage effect based on the negative correlation that exists between returns and volatility in stochastic volatility analysis yields similar estimates, and the statistcs indicates significant. That is, the results of the empirical analysis show that the degree of correlation between returns and volatility, and the magnitude and sign of fluctuations differ, which suggests that taking into account the leverage effect in the SV model improves the goodness of fit of the estimates. In addition to the statistical significance of the estimated model's leverage effect, the analysis by log predictive power score presents the estimated results with improved predictive power of the model considering the leveraged effect. These astatistically significant empirical results show that the stochastic volatility model considering the leverage effect is important for freight rate risk modeling in the marine industry.

• Journal of Korean Society of Coastal and Ocean Engineers
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• v.25 no.5
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• pp.335-347
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• 2013

In February 2008, high storm waves due to a developed atmospheric low pressure system propagating from the west off Hokkaido, Japan, to the south and southwest throughout the East Sea (ES) caused extensive damages along the central coast of Japan and along the east coast of Korea. This study consists of two parts. In the first part, we estimate extreme storm wave characteristics in the Toyama Bay where heavy coastal damages occurred, using a non-hydrostatic meteorological model and a spectral wave model by considering the extreme conditions for two factors for wind wave growth, such as wind intensity and duration. The estimated extreme significant wave height and corresponding wave period were 6.78 m and 18.28 sec, respectively, at the Fushiki Toyama. In the second part, we perform numerical experiments on wave-structure interaction in the Fushiki Port, Toyama Bay, where the long North-Breakwater was heavily damaged by the storm waves in February 2008. The experiments are conducted using a non-linear shallow-water equation model with adaptive mesh refinement (AMR) and wet-dry scheme. The estimated extreme storm waves of 6.78 m and 18.28 sec are used for incident wave profile. The results show that the Fushiki Port would be overtopped and flooded by extreme storm waves if the North-Breakwater does not function properly after being damaged. Also the storm waves would overtop seawalls and sidewalls of the Manyou Pier behind the North-Breakwater. The results also depict that refined meshes by AMR method with wet-dry scheme applied capture the coastline and coastal structure well while keeping the computational load efficiently.

• Journal of Korea Port Economic Association
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• v.30 no.2
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• pp.77-92
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• 2014

The focus of this study is to analyse dynamic relationship among BDI(Baltic Dry-bulk Index, hereafter BDI), forex market and industrial production using monthly data from 2003-2013. Specifically, we have focused on the investigations how monetary and real variable affect shipping industry during recession period. To compare performance between general VAR and Bayesian VAR we first examine DAG(Directed Acyclic Graph) to clarify causality among the variables and then employ MSFE(mean squared forecast error). The overall estimated results from impulse-response analysis imply that BDI has been strongly affected by other shock, such as forex market and industrial production in Bayesian VAR. In particular, Bayesian VAR show better performance than general VAR in forecasting.

• Journal of the Korean Institute of Navigation
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• v.8 no.1
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• pp.17-48
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• 1984

The economy of ship's size and speed is affected by the freight rates, sailing distances, cargo handling rates, fuel oil prices and even interest rates of the borrowed funds. It can be a step more powerful measures if the economic evaluation model takes in a cargo lot size which prevails in the shipping markets. This paper has dealt with hypothetical cargo lots which happen to the market with uniform distribution in probability. The evaluation models are either profit maximization method or cost minimization method. The former compares among different voyages in profitability to the invested funds, the later defines the transportation efficiency in ton-mile unit and be used in comparing two or more transportation means. This paper adopted both of above methods to derive out ships economical evaluation contours for the various ship's speed and deadweight for certain cargo lot sizes, which can be used as important managerial decision data in purchasing ships or selecting a most profitable one among the proposed voyages. This evaluation contours will also be efficiently used in appraising so called "handy size ships" in connection with port water depth and conditions of voyage tracks.ge tracks.

• Journal of Korea Port Economic Association
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• v.39 no.4
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• pp.255-268
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• 2023

This paper focuses on the tests for generalized fluctuation in the context of assessing structural changes based on linear regression models. For efficient estimation there has been a growing focus on the structural change monitoring, particularly in relation to fields such as artificial intelligence(hereafter AI) and machine learning(hereafter ML). Specifically, the investigation elucidates the implementation of structural changes and presents a coherent approach for the practical application to the BDI(Baltic Dry-bulk Index), which serves as a representative maritime trade index in global market. The framework encompasses a range of F-statistics type methodologies for fitting, visualization, and evaluation of empirical fluctuation processes, including CUSUM, MOSUM, and estimates-based processes. Additionally, it provides functionality for the computation and evaluation of sequences of pruned exact linear time(hereafter PELT).

• Journal of Navigation and Port Research
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• v.31 no.5 s.121
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• pp.421-426
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• 2007

Recently, the defect maintenance period of the new construction structure was extended from 5 years to 10 years. And according to change of realization on the quality of construction and maintenance, a development of semi-permanent method of construction is required for maintenance of blind parts of underwater structure, such as bridge, dam, harbor, etc. In this study, we proposed a floating type sector dry caisson, which is effective to the maintenance of submerged large structures. These large structures were being maintained incompletely, partly due to unskilled divers and difficult working condition. Considering the easiness of access to the maintenance area and the cost for set up the working structure, especially for the case of structure slabs close to the sea surface and harrow pile span structures, we developed and introduced a sector dry caisson instead of the full caisson structure. By doing this, it is easy to move out the caisson rapidly in emergence case. Therefore, we expect that the floating sector caisson will contribute to reduce working time and improve the quality of underwater work in future days.

• Korean Journal of Environmental Biology
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• v.20 no.4
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• pp.339-346
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• 2002

From March 1998 to August 2000, the phonology and morphometrics change of Zostera caespitosa Miki were examined at the Duksan Port in the eastern coast of Korea. Morphometric characteristics (shoot height, leaf length, sheath length, leaf width, and number of leaf per shoot), size and number of reproductive structures (spathe, spadix, and seeds), shoot density, biomass and physiochemical parameters (water temperature and nutrient concentrations) were measured. Significant differences between months (p < 0.05) existed for morphometric characteristics except for sheath length. The sequence of shoot heights clearly showed cyclical annual variation with water temperature. Vegetative shoots of Z. caespitosa were present throughout the year, but reproductive shoots were rarely occurred from mid January to early April in water temperature of $9-12^\circ{C}$. Flowering in the spathe began in mid February, and seed maturing was occurred in early April. Water column nitrate and phosphate concentration showed seasonal variation, but ammonia concentration was variable with season. Relationships between shoot morphometrics and physiochemical parameters were not significantly correlated but water temperature seemed to regulate the re-productive phase and annual life cycle. The mean shoot density and above biomass of the populations were $511.6\pm{25.6}\;shoots\;m^{-2}$ and $413.4\pm{19.8}\;g\;dry\;wt\;m^{-2}$, respectively.