• Title/Summary/Keyword: Freight Determinants

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A Study on the Determinants of Third Party Logistics Service Suppliers in Dongdaemun Market

  • Zhang, Yu-Liang;Yoo, Chang-Gwon;Kim, Gi-Pyoung
    • Journal of Distribution Science
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    • v.15 no.2
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    • pp.27-36
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    • 2017
  • Purpose - This study was intended to find the selection attribution factors and service satisfaction determinants of third party logistics suppliers in Dongdaemun wholesale market. Research design, data, and methodology - A questionnaire survey was performed, and the retailers and wholesalers in Dongdaemun wholesale market were asked to fill in it. Company employees using third party logistics service were selected by a random sampling method. Results - It is easy for both retailers and wholesalers to use third party logistics service. The logistics companies in Dongdaemun wholesale market have paid more heed to the security of freight and the operability. That is, the freight safety and operating service are the most important factors in selecting third party logistics suppliers, and they both have a close relationship with user satisfaction. There is no relation between service level and recognition in selection factors of third party logistics suppliers. All the responsiveness, operability and informativeness of third-party logistics providers has a significant relationship with user satisfaction. Conclusions - Third party logistics service is entirely different from the existing delivery or transport service. The most market vendors' wish for third party logistics suppliers is the stability of freight and robust operating service. They also demand the responsiveness for special or emergency situation with having information strength.

A Study on Freight Forwarders' Perceptions of Shipping Service Quality (복합운송업자의 해상운송서비스 질 인식에 관한 연구 - 우리나라 해상화물운송주선인을 중심으로 -)

  • 신한원;김성국
    • Journal of the Korean Institute of Navigation
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    • v.22 no.2
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    • pp.65-79
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    • 1998
  • The purpose of this study was to explorei the nature of the relationship between several factors representing shipping service quality enumerated in the service marketing literature and the adaptability to the marketing strategy of container shipping firm. An empirical study was carried out to examine not only the determinants of shipping service quality but also ists implications to the service marketing strategy. The data investigating the deteminants of shipping service quality were collected from Korean Multimodal Company , Shipping Freight Forwarders. Exploratory Factor analysis was carried out to analyze the data.

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An Analysis on Determinants of the Capesize Freight Rate and Forecasting Models (케이프선 시장 운임의 결정요인 및 운임예측 모형 분석)

  • Lim, Sang-Seop;Yun, Hee-Sung
    • Journal of Navigation and Port Research
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    • v.42 no.6
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    • pp.539-545
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    • 2018
  • In recent years, research on shipping market forecasting with the employment of non-linear AI models has attracted significant interest. In previous studies, input variables were selected with reference to past papers or by relying on the intuitions of the researchers. This paper attempts to address this issue by applying the stepwise regression model and the random forest model to the Cape-size bulk carrier market. The Cape market was selected due to the simplicity of its supply and demand structure. The preliminary selection of the determinants resulted in 16 variables. In the next stage, 8 features from the stepwise regression model and 10 features from the random forest model were screened as important determinants. The chosen variables were used to test both models. Based on the analysis of the models, it was observed that the random forest model outperforms the stepwise regression model. This research is significant because it provides a scientific basis which can be used to find the determinants in shipping market forecasting, and utilize a machine-learning model in the process. The results of this research can be used to enhance the decisions of chartering desks by offering a guideline for market analysis.

The Spillover from Asset Determinants to Ship Price (자산가격결정요인의 선박가격에 대한 파급효과 분석)

  • Choi, Youngjae;Kim, Hyunsok
    • Journal of Korea Port Economic Association
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    • v.32 no.2
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    • pp.59-71
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    • 2016
  • This study empirically examines the dynamic specification of the ship price model based on a vector autoregressive model and data covering from January 2000 to October 2014. Our results are summarized as follows: first, the relationship between ship price and interest rate shows significantly negative and the relationship between ship price and freight rate shows positive. It provides consistent implication that ship price depends on interest rate and freight rate under the dynamic Gordon model. Second, we apply an impulse response analysis to ship price and find the responses of the ship price from both factors, interest rate and freight rate, which affect during seven periods approximately. Finally, the results of a variance decomposition indicate that freight rate is more important than interest rate on the ship price.

Determinants of Domestic Shippers' Location Choice Decisions (우리나라 화주기업의 입지선택 특성분석(내수화물을 중심으로))

  • Kim, Chan-Seong;Seong, Hong-Mo;An, Seung-Beom;Ye, Chung-Yeol
    • Journal of Korean Society of Transportation
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    • v.25 no.1 s.94
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    • pp.61-71
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    • 2007
  • This study examines the determinants of location decisions for domestic skippers and identifies them with the aid of the location choice model The authors have used Korea's commodity flow survey collected by the inter-regional shippers as well as socio-economic indicators. The results suggest that the location of shippers depend on agglomeration economies, market size, and logistics activities. Finally. this study suggests the direction of locational Policies to help the Korean government with logistics-related policies.

An Empirical Study on Factors Affecting the Relationship Quality in Shipping Service Market : Primarily on Relationship between Liner Shipping Companies and Freight Forwarders (해운서비스시장에 있어서 관계질에 영향을 미치는 요인에 관한 실증연구 - 정기선사와 운송주선인간의 관계를 중심으로 -)

  • Choi Young-Ro;Shin Han-Won
    • Journal of Navigation and Port Research
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    • v.30 no.1 s.107
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    • pp.73-83
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    • 2006
  • The purpose of this study is to analyze the dynamic market mechanism adopting relationship marketing techniques between the shipping companies and shippers. As shipping companies mainly rely on sales operation, the relational structure of shipping companies and shippers is considered to be one of the determinants in business performance and customer satisfaction In this respect, the characteristic relationship between sales person and shipping company takes an important roles in relationship marketing in shipping business industry. An empirical study was carried out to find out the determinants cf relationship quality and antecedent factors of characteristics in shipping companies and sales person.

A Study on the Perceived Service Quality of Airport users of Incheon International Airport (인천국제공항의 화물운송서비스 이용자의 지각된 서비스품질에 관한 연구)

  • Choi, Byoung-Kwon
    • THE INTERNATIONAL COMMERCE & LAW REVIEW
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    • v.33
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    • pp.167-190
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    • 2007
  • The aim of the study is to investigate the factors which decide an airport service quality and the differentiation of perception on the airport service quality between airport users and airport authority. For the purpose of this study, the determinants of airport service quality were factors analyzed on the basis of service marketing concept. In order to identify an airport service quality dimension, the writer conducted mail survey and individual interview from the Korean freight forwarders, the 3PL entities, integrators and the airport operation authority. The result of this study is summarized as follows. 1. The dimen measurement was confirmed as a superior method to dimension of service competitiveness.sions of airport service quality consist of five factors; tangibles, reliability, responsiveness, assurance, empathy. 2. There are notable differences in cognition of airport service quality between airport authority's perception and airport customer, and between airport customer's perception and expectation.

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A Study on Impact of Factors Influencing Maritime Freight Rates Using Poisson and Negative Binomial Regression Analysis on Blank Sailings of Shipping Companies (포아송 및 음이항 회귀분석을 이용한 해상운임 결정요인이 해운선사의 블랭크 세일링에 미치는 영향 분석 연구)

  • Won-Hyeong Ryu;Hyung-Sik Nam
    • Journal of Navigation and Port Research
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    • v.48 no.1
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    • pp.62-77
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    • 2024
  • In the maritime shipping industry, imbalance between supply and demand has persistently increased, leading to the utilization of blank sailings by major shipping companies worldwide as a key means of flexibly adjusting vessel capacity in response to shipping market conditions. Traditionally, blank sailings have been frequently implemented around the Chinese New Year period. However, due to unique circumstances such as the global pandemic starting in 2020 and trade tensions between the United States and China, shipping companies have recently conducted larger-scale blank sailings compared to the past. As blank sailings directly impact freight transport delays, they can have negative repercussions from perspectives of both businesses and consumers. Therefore, this study employed Poisson regression models and negative binomial regression models to analyze the influence of maritime freight rate determinants on shipping companies' decisions regarding blank sailings, aiming to proactively address potential consequences. Results of the analysis indicated that, in Poisson regression analysis for 2M, significant variables included global container shipping volume, container vessel capacity, container ship scrapping volume, container ship newbuilding index, and OECD inflation. In negative binomial regression analysis, ocean alliance showed significance with global container shipping volume and container ship order volume, the alliance with container ship capacity and interest rates, non-alliance with international oil prices, global supply chain pressure index, container ship capacity, OECD inflation, and total alliance with container ship capacity and interest rates.

Research on Interest Rate Determinants in Shipping Loans (선박금융의 금리결정 요인에 관한 연구)

  • Chung, Kyung-Suk;Lee, Ki-Hwan;Kim, Myoung-Hee
    • Journal of Korea Port Economic Association
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    • v.40 no.1
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    • pp.133-149
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    • 2024
  • According to previous studies, the key factor in determining the loan interest rate for shipping companies is the default risk premium. Therefore, this study analyzes the determinants of the risk premium of shipping loans using a multiple linear regression model. With the risk premium as the dependent variable, a total of 10 independent variables are selected, including three factors: loan characteristics, borrower's creditworthiness, and economic situation. Samples are 82 shipping loans supported by Bank A from 2014 to 2022. As a result, borrower's creditworthiness(current ratio, debt ratio, firm age) and economic situation(freight index) affect the risk premium in analysis for all samples. It is found that borrower's creditworthiness has some influence on the risk premium for container ships(current ratio, cash holding ratio, debt ratio, operating income to sales) and bulk carriers(debt ratio, firm age). Market situation affects the risk premium in gas carriers. However, in the model targeting tanker ships, unlike previous studies, all factors have no effect on the risk premium.

An analysis on the Feasibility of Busan Container Transshipment by Barge service (부산항 환적컨테이너의 바지선 운송 타당성 분석)

  • Cho, Boo-Lai;Choi, Man-Ki;Shin, Yong-John
    • Journal of Navigation and Port Research
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    • v.34 no.5
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    • pp.397-404
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    • 2010
  • The Currently, most cargos of container transshipment between Busan Port and New Port are transported over land, and the rest is transported by barge. This study estimated firstly the traffic between those ports through simulations in order to analyze the feasibility of container transshipment by barge. It forecasted annual profitability using determinants to affect on the barge business by the traffic, and then, discussed the feasibility. This study supposed the flexible scenarios with 50%, 60%, 80%, or 100% transshipment and the 25 monthly barge service numbers between two ports, and measured the influences of different factors according to the above various scenarios. And then the sales were evaluated by the different traffics and freights scenarios provided the business would be actually operated. Finally, Net incomes were simulated to analyze the feasibility of different scenarios by various traffics and freights. The net income should be positive to get the feasibility. To achieve this, the minimum traffic should be secured and the lowest freight per TEU should be determined. While all countries of the world is controlling CO2 emissions and emphasizes the green logistics, this study contributed to solve at the same time the problems about the pollution and the efficiency of transportation by reviewing positively the feasibility of barge transportation as an alternative to transportation overland.