• Journal of Navigation and Port Research
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• v.35 no.9
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• pp.765-776
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• 2011

For container shipping company, fuel oil prise is a considerable expense. Since 2008, fuel oil prises have risen dramatically. An increasing fuel oil price in container shipping, in the short term, is only partially compensated through surcharges and may affect earnings negatively. This study discusses the impact of an increasing fuel oil price and capital costs for vessels on the Asia-Europe trade of 'H' Shipping Company. According to the result of 'H' carrier's operation in 2008, there were no cost differences between 8 and 9 vessels operations in case of fuel oil price with USD 169/tons while adopting USD 31,818 as a fixed cost. We can expect that the fuel oil price will not go lower than USD 200/Ton on the basis of current high oil price phenomenon. When the fuel oil price is over USD 200/ton, 9 vessel operation is more economic than 8 vessel operation even if the fixed cost is over USD 35,000.

• Proceedings of the Korean Institute of Navigation and Port Research Conference
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• 2009.06a
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• pp.173-174
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• 2009

For container shipping company, fuel oil prise is a considerable expense. In the last 3 years, fuel oil prises have risen considerably. An increasing fuel oil prise in container shipping, in the short term, is only partially compensated through surcharges and will therefore affect earnings negatively. This paper deals with the impact of increasing fuel oil price and capital costs for vessels on the number of vessels on the Asia-Europe trade. As per result of 'H' carrier's operation in 2008, there were no cost difference between 8 and 9 vessels operation in case the fuel oil price is USD 169/tons while adopt USD 31,818 as fixed cost. We can expect that the fuel oil price will not be decreased under USD 200 $/Ton on the basis of current high oil price phenomenon. When the fuel oil price is over USD 200 $/ton, therefore, 9 vessels operation is more economic than 8 vessel operation even if the fixed cost is over USD 35,000.

• Journal of Advanced Marine Engineering and Technology
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• v.37 no.7
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• pp.685-693
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• 2013

The biodiesel used as an alternative fuel for diesel engines is well- known, however the price of the bio-diesel is still higher than conventional diesel oil (DO) by 10% to 15% depending on a kind of bio-oil and a country producing the bio-diesel. One of idea to reduce the price of bio-diesel is to use the pure bio-oil as fuel for marine diesel engines, because to use the pure bio-oil as fuel without the esteritification process can reduce the price of bio-fuel. At present time, some experts in some countries who have been carrying out experiments on the use of pure bio-oil produced from rape seeds, sunflower seeds... as fuel for marine diesel engines have achieved important results. In recent years, at Vietnam Maritime University we also have been using the pure palm oil and its blended fuel (Palm oil and DO) as fuel for marine diesel engines in laboratory and on board of ships. The blended fuel is a mixing fuel of the pure palm oil and diesel oil with content of pure palm oil by 5%, 10%, 15%, 20% and 35%. In this paper, we would like to present some results from our experiments to investigate the impacts of using the palm oil and its blended fuel on the important technical features of the fuel supply system of marine diesel engines such as the fuel supply amount for one cycle, fuel supplying pressure, ignition delay time and so on. The results from the research will be good fundamental parameters to support proper operation of marine diesel engines using bio-oil and blended fuels as alternative fuel in near future.

• Journal of the Korean Society of Marine Environment & Safety
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• v.26 no.3
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• pp.262-268
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• 2020

The IMO (International Maritime Organization) has mandated the restriction of SOx emissions to 0.5 % for all international sailing vessels since January 2020. And, a number of countries have designated emission control areas for stricter environmental regulations. Three representative methods have been suggested to cope with these regulations; using low-sulphur oil, installing a scrubber, or using LNG (Liquefied Natural Gas) as fuel. In this paper, economic analysis was performed by comparing the method of installing a scrubber with the method of using low-sulphur oil without installing additional equipment. We suggested plausible layouts and compared the pros and cons of dif erent scrubber types for retrofitting. We selected an international sailing ship as the target vessel and estimated payback time and benefits based on navigation route, fuel consumption, and installation and operation costs. Two case of oil prices were analyzed considering the uncertainty of fuel oil price fluctuation. We found that the expected payback time of investment varies from 1 year to 3.5 years depending on the operation ratio of emission control areas and the fuel oil price change.

• Journal of the Korean Society of Fisheries and Ocean Technology
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• v.55 no.3
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• pp.264-272
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• 2019

The aim of this study is to analyze the relationship between international oil price as a fuel cost in overseas fisheries and skipjack tuna price as a part of main products in overseas fisheries using monthly time series data from 2008 to 2017. The study also tried to analyze the change of fishing profits by fuel cost. For a time series analysis, this study conducted both the unit-root test for stability of data and the Johansen cointegration test for long-term equilibrium relations among variables. In addition, it used not only the Granger causality test to examine interactions among variables, but also the Vector Auto Regressive (VAR) model to estimate statistical impacts among variables used in the model. Results of this study are as follows. First, each data on variables was not found to be stationary from the ADF unit-root test and long-term equilibrium relations among variables were not found from a Johansen cointegration test. Second, the Granger causality test showed that the international oil prices would directly cause changes in skipjack tuna prices. Third, the VAR model indicated that the posterior t-2 period change of international oil price would have an statistically significant effect on changes of skipjack tuna prices. Finally, fishing profits from skipjack would be decreased by 0.06% if the fuel cost increases by 1%.

• The Journal of Fisheries Business Administration
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• v.31 no.1
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• pp.115-133
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• 2000

The policy of suppling tax-exempt fishery oil in Korea has a history of almost 40 years, which was initiated by the National Federation of Fisheries Cooperatives in 1965. In 1999 the volume of fishery oil supplied to the earning fishermen and fishing entrepreneurs amounted to 8,390 thousand DM, 500 billion won in total. This paper analyzes the oil supplying system to fishermen in Korea and shows that the structural obstacles to the stable provision of fishery oil lies in the ineffective bargaining power (fixing price). Provided that the NFFC as a buyer, which is not equipped with the storage facilities for oil bids for a unit-price contract of fishery oil, there exists a possibility of collusion among 5 local oil refineries corporations to influence the oil price, making it difficult to reach a resonable price of oil. Though the international bids and direct imports following the liberalization of oil imports would help lower the unit price, purchasing and importing the oil out of season at a lower price would not be guaranteed without the oil storage facilities. Furthermore, the current supply system of oil is quite vulnerable to the extraneous factors and, say when the oil price soars unpredictably, it is almost impossible to supply low - priced fishery oil to fishermen. The National Federation of Fisheries Association of Japan(Zengyoren), for instance, possesses 10 oil storage facilities, which had been built across the country during the last 20 years (1964-1984). The storage capacity of these facilities reaches 0.6million DM(by kind, 0.56million DM for A heavy oil, 38thousand D/M kerosene, 5thousand D/M for diesel fuel oil). Allowing no intermediary of production associations(fisheries cooperatives) the NFFA's capacity for keeping oil in reserve rises much higher. As these storage facilities can keep the oil amounting to as much as of 70 days demand in reserve, a stable supply of fishery oil on favorable terms is secured. In contrast with Japan case, unequipped with the storage facilities for fishery oil, Korea does not have much bargaining power for bringing down the price of fishery oil. To make matters worse, the oil storing capacity of the member cooperatives is the volume of only 8 days demand. In case the oil price rises, it is almost impossible to supply the oil to the fishermen at a price lower than the price risen.

• Journal of Biosystems Engineering
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• v.24 no.4
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• pp.351-358
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• 1999

In these days, we are faced to a couple of difficult problems, the one is the unstable price of the energy due to the shortage of fossil fuel resources and the other is the serious environmental pollution from the excessive consumption of fossil fuel. In order to save the thermal energy for the house heating, in this study the heat pump using the natural thermal energy resources was provided for Ondol heating and the thermal energy consumption of the heat was compared to that of oil boiler. The results could be summarized as follows: 1. In the Ondol room the temperature difference between the Ondol surface and room air was about 5∼$10^{\circ}C$ in accordance with the ambient temperature. 2. The Ondol room heating efficiency of the heat pump with compressor of 2PS was the highest at the water flow rate of 200 l/h. 3. The energy saving rate of the heat pump to the oil boiler for heating the Ondol system was 19.3%. 4. The Ondol heating cost of the heat pump was less 20.6% than that of oil boiler when oil price was 478 won/l.

• THE INTERNATIONAL COMMERCE & LAW REVIEW
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• v.41
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• pp.169-183
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• 2009

This study has been conducted under the background of the high rocketed international oil price in the mid of the 2008 year. Korean logistics industry then suffered from a harsh labor strike which paralyzed temporarily Korean exports and imports activities mainly due to the rising motor fuel prices. The theme of this study started from the highly practical question: what would be the impact of the soaring crude oil price on the cost structure of the Korean logistics industry? For this practical question this study conducted an input-output analysis utilizing the 2003 year benchmark input-output table, published by the Bank of Korea in 2007.

• Proceedings of the Korean Society of Tribologists and Lubrication Engineers Conference
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• 2000.11a
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• pp.100-106
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• 2000

Recently, the population of vehicles using LPG as fuel has been increasing due to relatively low fuel price and low tax. Although gasoline engine oils we usually used to lubricate LPG engines, some troubles such as oil thickening and TBN depletion were found in them under severe operating condition. In order to investigate the deterioration mechanism of lubricants in LPG engine, field trials were performed. The results from the field trials showed that the deterioration of oils in LPG engine is different from that in normal gasoline engine. LPG engine oil was deteriorated mainly through oxidation and nitration at high temperature rather than contamination of fuel combustion products.

• 한국신재생에너지학회:학술대회논문집
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• 2010.11a
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• pp.103.2-103.2
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• 2010

Biodiesel was well known for eco-friendly alternative fuel for petrodiesel. But biodiesel have disadvantage such like it was derived from food resource which was high price. In this study, We synthesized the biodiesel from duck's oil which was food trash via transesterification under base catalyst. After analytic result of density, kinematic viscosity, cold temperature characteristics, lubricity and cetane number which were main fuel characteristics, this duck's biodiesel have enough to fuel specification for except of domestic winter season.