• 무역상무연구
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• 제44권
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• pp.181-210
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• 2009

This paper discusses global expansion and global strategies of shipping firms. Acknowledging the lack of research on global expansion by freight transport companies, this paper employs the resource-focused model, and explores "why shipping companies emerge" and "why the strategic behaviour of shipping companies is different in the global market". Despite there being a plethora of theoretical and empirical studies on the international operations of business organisations, it is acknowledged that researchers have largely neglected the issues regarding the international expansion within the freight transport industry. Identifying the general lack of contemporary studies concerning the international behaviour of shipping firms, this study addresses the important gap in our knowledge in the theoretical manner. The theoretical analysis suggests that the shipping company's internal resources can be a real reason for the international market participation.

• Journal of Ship and Ocean Technology
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• 제11권2호
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• pp.34-45
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• 2007

Environment of marine transportation market is changing rapidly. Due to globalization of world economy, marine transportation of cargos, especially trade using container boxes, is increasing dramatically. Fierce competition in the global market of container transportation forces the shipping industry to seek the economy of scale to reduce transportation cost, and drives the merge and alliance of liner shipping companies. Mega-sized container ships, having capacity over 10,000 TEU, were introduced, and appeared recently, in order to reduce the unit transportation cost. Korean shipping and shipbuilding companies are competitive, and have considerable market share in the global market. Even though both industries are inter-connected through ships and have many common interests in order to enlarge the global market share, inter-relation between two industries is surprisingly insignificant. In this paper current issues in the process of environmental change of marine cargo transportation are reviewed, and inter-relation of shipping and shipbuilding industries is discussed. Suggestions for inter-related development of Korean shipping and shipbuilding industries are given, and means for mutually beneficial collaboration are suggested.

• 한국항만경제학회지
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• 제33권3호
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• pp.105-120
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• 2017

본 연구는 글로벌 컨테이너 해운시장의 경쟁구조 변화를 살펴보고 세가지 관점에서 우리나라 컨테이너선대 규모를 분석하였다. 경쟁구조 변화 분석에서는 시장집중도 비율과 허쉬만-허핀달 지수를 분석하였으며 선대 규모 분석에서는 첫째 얼라이언스 내 경쟁력 확보 규모, 둘째 국내 수출입 컨테이너 화물의 국적선 적취율 제고를 위한 선대규모, 셋째 주요 해운국의 특성을 고려한 패널모형을 통한 선대규모 분석 세가지 측면에서 검토하였다. 분석결과, 글로벌 컨테이너 해운시장이 과점화 되고 있는 것으로 나타났으며 현재 한국의 컨테이너 선대 규모는 세가지 분석 모두에서 부족한 것으로 분석되었다.

• 무역학회지
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• 제43권6호
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• pp.51-70
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• 2018

본 연구는 글로벌 해운기업의 목표부채비율 추정하고 자본구조와 시장점유율의 관계를 규명하고자 한다. 2010년부터 2017년까지 세계 상위 100대 해운기업을 대상으로 목표부채비율을 결정하는 요인과 부채비율이 해운시장의 시장점유율에 미치는 영향을 실증분석 하였다. 연구결과, 글로벌 해운기업은 목표부채비율을 62% 정도 조정하고 있으며, 수익성과 MB 비율은 음(+), 기업규모의 5년 만기 국고채 이자율은 양(+)의 영향을 미치는 것을 확인하였다. 전체 해운기업은 전략적으로 부채를 사용하여 시장점유율을 높이고 있는 것을 확인하였다. 그리고 해운기업을 물동량 중심과 운임 중심으로 비교분석 한 결과, 물동량 중심 기업은 부채비율을 높여 컨테이너 물동량을 늘리고, 운임 중심 기업도 전략적으로 부채를 사용하여 운임을 낮추어 시장점유율을 높이고 있었다. 특히 컨테이너 물동량 중심 기업은 운임 중심 기업보다 더 전략적 부채를 사용하여 물동량 증가를 통해 수익 증가 및 경쟁적 지위 획득을 통한 과점화 전략을 펼치고 있다. 또한 물동량 중심 기업과 운임 중심 기업을 고성장과 저성장 기업으로 비교한 결과, 고성장 기업일수록 부채비율이 시장점유율에 미치는 영향이 미흡하였다. 이는 고성장 해운기업의 경영자일수록 주식발행보다 부채발행을 통한 자산 투자 규모를 축소하는 과소투자 문제가 발생하고 있는 것을 확인하였다는 점에서 큰 의미를 갖는다. 연구결과는 해운기업의 자본구조가 시장점유율에 영향을 미치는 새로운 변수로 인정될 수 있으며, 이를 해운시장의 경쟁전략과 연계하여 관리할 필요가 있음을 시사한다.

• 한국항만경제학회지
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• 제21권3호
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• pp.115-148
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• 2005

In the liner market, a strategy is hard to sustain as competitors can easily imitate the strategy. For examples, when a number of shipping companies pursue this space exchange strategy in a liner market, their competitors are likely to build a cooperative alliance, following similar strategic pattern without any difficulty. Such strategic imitations are universal in international liner market. Therefore, the success of global alliance requires following critical considerations. First, the strategy of global alliance should be designed the way it gives the liner operators an economy of scale, which could be a key advantage in the competitive market. Second, thorough global alliance the lines should be able to improve their transport service through the reduction of operating costs and the business rationalization. The international alliance today is characterized by a strategic cooperation among a limited number of 'mega-carriers'. Such cooperation between the large-sized operators has come in many different forms. However, the trend has been towards the space exchange agreement, where a carrier on a route offers to another carrier a fixed number of spaces for a fixed period of time. the major carriers have been entered into groupings by integrating their services structures to increase market power. With reference to the above, this study has the following primary objectives: (1) to explore the present status of global alliance in liner shipping industry, (2) to prospect the future trend of the global alliance.

• 한국항만경제학회지
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• 제33권1호
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• pp.89-110
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• 2017

국제 해운시장에서는 규칙적이고 반복적으로 이루어지는 정기선 서비스의 특수성을 인정하여 정기선사 간의 과당 경쟁을 방지하고 항로의 질서 유지와 안정화를 위해 국제 카르텔인 해운동맹의 결성을 인정하였다. 하지만 선박대형화와 복합운송의 발달 그리고 비동맹선사의 세력확대로 인하여 해운동맹은 와해되기 시작하였으며 결국 폐지되기에 이르렀다. 정기선 시장에서 중요한 역할을 담당했던 해운동맹이 폐지되면서 정기선 시장의 경쟁구도는 변화를 겪기 시작하였다. 따라서 해운동맹의 폐지가 정기선 시장에 미친 영향에 대한 연구가 필요하게 되었으며 해운동맹의 폐지로 인하여 영향을 받은 요소를 선정하여 상관분석과 다중 회귀분석을 통하여 영향을 분석하였다. 분석 결과, 해운동맹의 폐지로 인하여 각 선사들은 선복량 증가로 운임 경쟁이 심화되었고 결국 비용구조가 유리한 선사는 수익을 창출하고 그렇지 못한 선사는 적자를 기록하게 되었다.

• Journal of Korea Trade
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• 제24권6호
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• pp.115-134
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• 2020

Purpose - International trade leads to the international division of labor, improving the efficiency of the global economic system. Transport costs are a more serious barrier to international trade than customs tariffs. An increase in competition in the transport sector may thus lead to a reduction in transport costs. However, if a carrier's nationality significantly influences transport costs, simply adding more competing carriers of different nationalities would be ineffective. Therefore, it is necessary to establish national or regional carriers to influence competition and reduce transport costs. This study investigates this "nationality effect" by treating Hanjin Shipping's collapse as a natural experiment. Design/methodology - The theoretical basis of this study is the 3rd-degree price discrimination in container shipping market. By using the monthly data of container freight rates of Korea, China and Japan, this study shows the so-called Korea Premiums, which are the empirical counterparts of nationality effect in Korea container shipping market. For this empirical investigation, the structural model with state-space form is used and the dummy models are also estimated. In addition, because China has been also affected by the Hanjin's collapse, the China premiums are considered too. Findings - Compared with Japan's case, it is shown that there had been the so-called Korea premiums since the collapse of Hanjin Shipping. These results are robust from both the state-space model and dummy models. The time pattern of Korea premiums was consistent with the market evolution, especially the pattern of substitutability in container shipping markets. In addition, this paper shows the magnitude of Korea premiums. Originality/value - The argument of this study that the nationality effect can be interpreted as an extended concept of the home market effect is original, which is expected to evoke future research efforts. Further, the discussion on the shipping industrial policy from both horizontal and vertical aspects will provide the relevant policy makers with solid information, especially for the policy coordination in a global scale.

• 무역학회지
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• 제47권5호
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• pp.181-200
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• 2022

After the COVID-19 pandemic, a global economic downturn and a recession in the shipping market are expected, it is important for domestic shipping companies to establish appropriate strategy in response to the recession. Accordingly, domestic shipping companies should grow into integrated logistics companies that combine shipping and logistics in the future. And for this purpose, it is necessary to actively promote logistics integration with external shipping and logistics companies. This paper presents the direction of logistics integration for domestic shipping companies to develop as integrated logistics operators with competitiveness in the global shipping market, and presents detailed alternatives. Domestic shipping companies lack the infrastructure such as ships, port terminals, and warehouses, so they have a weak capacity to independently promote logistics integration. At the shipping company level, a logistics integration promotion strategy should be established, and accordingly, logistics infrastructure, service network, and logistics integration operating system should be established. The government should provide tax benefits for logistics integration, financial support for M&As led by domestic shipping companies, a standardized information sharing system, and preparation of educational courses for nurturing digital manpower.

• 한국항해항만학회:학술대회논문집
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• 한국항해항만학회 2022년도 춘계학술대회
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• pp.367-368
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• 2022

해운산업은 글로벌 경기에 민감한 산업이다. 따라서 글로벌 경제위기와 같은 이벤트가 발생하면 해운시장 운임이 즉각적으로 반응하며 그에 따른 산업의 장기침체가 반복되어 왔다. 특히 한진해운의 파산은 우리나라 해운산업의 고질적인 문제를 전국민적으로 알게 된 사건이다. 무너진 해운산업을 재건하고 글로벌 리더 국가로 도약하기 위해 정부에서는 많은 노력을 하고 있다. 우리나라 해운산업이 글로벌 리더로 성장하기 위해서는 이전과 같은 위기에 적절히 대응하는 것이 중요하다. 이를 위해 국가차원에서 해운산업 위기대응 체계를 구축하고 운영이 필요하다.

• 한국항해항만학회:학술대회논문집
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• 한국항해항만학회 2002년도 춘계학술대회논문집
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• pp.39-51
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• 2002

Online exchange is a cost-effective approach to trade goods and information among multiple sellers and buyers. Shipping industry includes lots of global entities such as shippers, liners, ship owners and shipping agents. Marine insurance companies and ship repairers and many other groups are also supporting the industry. However, international shipping exchanges are located on few cities in the world. Its our motivation that a shipping market can be online so that market participants do the dealing while sitting where they are with more efficient manner, preferable price and larger pool of candidates of trading partners. This paper presents Korean governmental project of building a cyber shipping exchange. The exchange covers ship sale and purchase, charter, insurance, freight futures, repairs, supplying of ships oil and database service. The workflows of each business were analyzed and designed to fit for online environment. The project includes design of trading mechanism, online documents, data flow, data storage and security. Online match making and trading mechanisms such as auction, reverse auction, bid are used. The whole trading process involves multiple organizations and business processes. So, this Paper focuses on how each organization would play their roles so that users can complete transactions with integrated and transparent view. The online exchange selves also as maritime portal site that links to other sites for cooperation vertically or horizontally, and serves database and information in global perspective. This paper also issues and discusses the justification of an online shipping exchange