• Journal of Navigation and Port Research
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• v.46 no.3
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• pp.289-296
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• 2022

The purpose of this study was to investigate the inter-correlation between crude oil prices and Dry Bulk Freight rates. Eco-friendly shipping fuels has being actively developed to reduce carbon emission. However, carbon neutrality will take longer than anticipated in terms of the present development process. Because of OVID-19 and the Russian invasion of Ukraine, crude oil price fluctuation has been exacerbated. So we must examine the impact on Dry Bulk Freight rates the oil prices have had, because oil prices play a major role in shipping fuels. By using the VAR (Vector Autoregressive) model with monthly data of crude oil prices (Brent, Dubai and WTI) and Dry Bulk Freight rates (BDI, BCI and (BP I) 2008.10~2022.02, the empirical analysis documents that the oil prices have an impact on Dry bulk Freight rates. From the analysis of the forecast error variance decomposition, WTI has the largest explanatory relationship with the BDI and Dubai ranks seoond, Brent ranks third. In conclusion, WTI and Dubai have the largest impact on the BDI, while there are some differences according to the ship-type.

• Journal of the Korean Society of Marine Environment & Safety
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• v.27 no.7
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• pp.1098-1105
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• 2021

The International Maritime Organization has steadily strengthened environmental regulations on nitrogen oxides and carbon dioxide emitted from marine vessels. Consequently, the demand for electric propulsion vessels based on eco-friendly elements has increased. To this end, research and development has been steadily conducted for various vessels. In electric propulsion systems, a redundancy configuration is typically adopted to increase reliability and facilitate the onboard arrangement. Furthermore, studies have been actively conducted to ensure the safety of electric propulsion systems through the combination with digital twin technology. A digital twin can be used to predict outcomes in advance by implementing real-world equipment or space in a virtual world like twins, integrating real-world information and data with the virtual world, and performing computer simulations of situations that can occur in a real environment. In this study, we perform failure modes and effects analysis (FMEA) to validate the electric power management system (PMS) redundancy scheme for the digital twin technology development of electric propulsion vessels. Then, we propose the role and algorithm of PMS as a compensation function for preventing primary and secondary damages caused by a single equipment failure of the PMS and preventing additional damages by analyzing the impact on the entire system under real vessel operating conditions based on the redundancy FMEA suggested for the ship classification and certification. We verified the improvement in propulsion conservation through tests.