• Journal of Korean Society of Transportation
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• v.29 no.2
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• pp.25-35
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• 2011

In order to reduce Green House Gas(GHG) reduction in the road freight sector and thus establish green logistics, running efficiency of goods vehicles is of paramount importance. Providing effective transportation infrastructure can contribute to achieve the green logistics by reducing empty running of heavy goods vehicles and van, increasing the average payload on the vehicle, and shifting the transportation mode. In order to reduce the environmental impact from the road freight sector, it is essential to quantify the amount of environmental loading from the sector. However, any systematic survey on the environmental loading from the logistics companies has not been carried out in Korea. In this study, the environmental index for the road freight sector is defined as the amount of $CO_2$ emission per ton km generated from goods vehicles. The computational analysis shows that the average $CO_2$ emission per ton km generated by the logistics companies in Korea is $363g-CO_2/ton{\cdot}km$. Compared to UK (=$130g-CO_2/ton{\cdot}km$) and France (=$97g-CO_2/ton{\cdot}km$), the efficiency of logistics in Korea is 2.8 and 3.7 times as low as in the advanced countries. It also indicates that the main reasons for the low efficiency are mainly due to the high rate of empty operation of goods vehicles and the low payload.

• Journal of Korea Port Economic Association
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• v.34 no.4
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• pp.181-190
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• 2018

The goal of this study is empirically to investigate the asymmetric relationship between two variables using the dry cargo freight rates and raw material price data from January 2012 to May 2018. First, we estimate the asymmetry of macroeconomic indicators of commodity prices by using a two - step threshold cointegration test. Second, the asymmetric relation test of the trade balance of existing commodity price changes is tested by bypassing to the high frequency dry cargo freight rate index. As a result of the estimation, in contrast to the existing linear analysis, each boundary value for the lower limit and the upper limit has different asymmetry. This implies that the period of fluctuation of the sudden residual that causes irregular rate of return fluctuations does not establish a long term equilibrium relationship between the raw material price and the dry cargo freight rate. Therefore, in order to consider the sudden price change in the analysis, it is necessary to include the band of inaction that controls the irregular volatility, which is consistent with the asymmetry hypothesis.

• Journal of Korea Port Economic Association
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• v.38 no.2
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• pp.49-67
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• 2022

This study applied the method of Diebold and Yilmaz (2012, 2014, 2016) to analyze the connectedness between the Freight Index (BDI, BDTI, BCTI), energy price(oil, natural gas, coal), and grain price(soybean, corn, wheat) from July 19, 2007 to March 31, 2022. The main analysis results of this paper are as follows. First, according to the network analysis results, the total connectedness was measured to be 20.43% for the entire analysis period, indicating that there was a low correlation between the freight index and the commodity price. In addition, looking at the directional results, the variable with the greatest effects was corn, and conversely, the variable with the lowest effects BDI. When classified by events, BCTI was found to play a major role only during the COVID-19 period. Second, according to the results of the rolling-sample analysis, the total connectedness be found to be highly correlated with changes in economic conditions such as the financial crisis, trade war, and COVID-19 when specific events occurred.

• Journal of Korea Port Economic Association
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• v.38 no.4
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• pp.107-118
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• 2022

In this study, daily data from January 2002 to June 2022 were used to investigate the relationship between risk-return relationship and market fear, uncertainty, stock market, and maritime freight index for the crude oil market. For this study, the time varying EGARCH-M model was applied to the risk-return relationship, and the wavelet consistency model was used to analyze the relationship between market fear, uncertainty, stock market, and maritime freight index. The analysis results of this study are as follows. First, according to the results of the time-varying risk-return relationship, the crude oil market was found to be related to high returns and high risks. Second, the results of correlation and Granger causality test, it was found that there was a weak correlation between the risk-return relationship and VIX, EPU, S&P500, and BDI. In addition, it was found that there was no two-way causal relationship in the risk-return relationship with EPU and S&P500, but VIX and BDI were found to affect the risk-return relationship. Third, looking at the results of wavelet coherence, it was found that the degree of the risk-return relationship and the relationship between VIX, EPU, S&P500, and BDI was time-varying. In particular, it was found that the relationship between each other was high before and after the crisis period (financial crisis, COVID-19). And it was found to be highly associated with organs. In addition, the risk-return relationship was found to have a positive relationship with VIX and EPU, and a negative relationship with S&P500 and BDI. Therefore, market participants should be well aware of economic environmental changes when making decisions.

• Journal of the Korean association of regional geographers
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• v.20 no.1
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• pp.30-48
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• 2014

Relying on the interaction indices - dominance index, relative strength index and entropy index, this paper analyzes the structural features of urban network in the Seoul metropolitan area with the flows of commuting, business, and freight. Analytical results show that the Seoul metropolitan urban system is vertical, size-dependent, one-way, and the highest city-dominant network rather than horizontal, size-neutral, two-way, complementary one. The network of freight flow is a little bit more symmetrical than the networks of commuting and business. However, the interaction with Seoul is still determinant in all aspects of hierarchical structure, relative strength, and symmetry of flow.

• The Journal of The Korea Institute of Intelligent Transport Systems
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• v.22 no.6
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• pp.141-156
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• 2023

This study aims to improve understanding of freight movement, crucial for logistics facility investment and policy making. It addresses the limitations of traditional freight truck traffic data, aggregated only at city and county levels, by developing a new methodology. This method uses trip chain data for more detailed, facility-level analysis of freight truck movements. It employs DTG (Digital Tachograph) data to identify individual truck visit locations and creates H3 system-based polygons to represent these visits spatially. The study also involves an algorithm to dynamically determine the optimal spatial resolution of these polygons. Tested nationally, the approach resulted in polygons with 81.26% spatial fit and 14.8% error rate, offering insights into freight characteristics and enabling clustering based on traffic chain characteristics of freight trucks and visited facility types.

• Journal of Digital Convergence
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• v.17 no.4
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• pp.65-73
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• 2019

This study performed Panel Regression Analysis (PRA) with the debt ratio as a dependent variable and the ROE (return on equity), sales volume, current ratio, total capital, and Shanghai Containerized Freight Index (SCFI) as an independent variable. According to the GLS analysis, the current ratio to liabilities ratio was negative, and for sales, the ratio of liabilities was positive. Capital totals also had a negative impact on the debt ratio. However, ROE, unlike the hypothesis, had negative effects on the liability ratio, and the SCFI index was not significant. As implications of this research, the company confirmed that its sales increased as the debt ratio of global shipping companies rose, achieving economies of scale. However, it was confirmed that the actual size of the economy through the injection of other capital would help increase sales but not affect net profit. Shipping companies should expand their business power and secure large container vessels to secure credibility of shippers. In the future research, an analysis considering exchange rate, global economic growth rate, and manufacturing production index is needed.

• Journal of the Korean Society for Railway
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• v.16 no.2
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• pp.138-143
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• 2013

Recently, the demand for rail freight has gradually decreased. In particular, the demand in Korea for open freight cars, which classification includes gondola cars, hopper cars and gravel cars has been significantly reduced. The role of gondola cars in the rail transportation market shrank to 14.5% in 2010 from 23.3% in 2001. The transportation demand of gondola cars in the long term is expected to be reduced further. Because some gondola cars have been converted to container cars and various containers are being developed to transport bulk cargo by container cars. However, gondola cars still play an important role in rail freight transport. Therefore, the management planning of gondola cars is needed in order to prepare for the long-term declining demand. In this study, we propose a future direction for the management planning of gondola cars through the effectiveness analysis of gondola cars operation.

• Journal of Korea Port Economic Association
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• v.38 no.4
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• pp.87-106
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• 2022

Uncertainties in the energy market are increasing due to technology developments (shale revolution), trade wars, COVID-19, and the Russia-Ukraine war. Especially, since 2020, the risk of international trade in the energy market has increased significantly due to changes in the supply chain of transportation and due to prolonged demand reduction because of COVID-19 and the Russian-Ukraine war. Considering these points, this study analyzed connectedness between energy price, tanker index, and uncertainty to understand the connectedness between international trade in the energy market. Main results are summarized as follows. First, as a result of analyzing stable period and unstable period of the energy price model using the MS-VAR model, it was confirmed that both the crude oil market model and the natural gas market model had a higher probability of maintaining stable period than unstable period, increasing volatility by specific events. Second, looking at the results of the analysis of the connectedness between stable period and unstable period of the energy market, it was confirmed that in the case of total connectedness, connectedness between variables was increased in the unstable period compared to the stable period. In the case of the energy market stable period, considering the degree of connectedness, it was confirmed that the effect of the tanker freight index, which represents the demand-side factor, was significant. Third, unstable period of the natural gas market model increases rapidly compared to the crude oil market model, indicating that the volatility spillover effect of the natural gas market is greater when uncertainties affecting energy prices increase compared to the crude oil market.

• Journal of Korean Society of Transportation
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• v.26 no.4
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• pp.17-28
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• 2008

Favorable policies for freight vehicles (i.e., trucks), such as exclusive "Truck-ways," have been proposed, and at the same time restricted policies for freight vehicles have been suggested because transportation of goods by truck aggravates traffic congestion and environmental conditions in urban areas. This study discusses the limitations of assessment processes for freight vehicle route management systems which have been carried out from limited perspectives such as physical distribution efficiency and traffic circulation. The objective of this study is to propose an assessment method of truck route management systems in urban areas which includes more varied criteria. This research modified the two existing assessment indices of physical distribution efficiency and traffic circulation. In addition two new assessment indexes are proposed: (i) exposure indices for population directly influenced by nitrous oxide, a representative pollutant, and (ii) a friction index between trips for attending elementary school and freight vehicle trips. It was found that from the perspective of physical distribution efficiency and traffic circulation, the "before" alternative is better than "after". However, from the aspect of traffic safety and environmental impacts the "after" alternative is better than "before". It is expected that the proposed evaluation method in this study would be useful when identifying reasonable policies for truck route management in urban areas.