• Journal of Korea Port Economic Association
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• v.39 no.2
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• pp.41-57
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• 2023

The drybulk shipping market has high freight rate volatility in the chartering market and various and complex factors affecting the market. In the unstable economic situation caused by the COVID-19 pandemic in 2020, the BDI plunged due to a decrease in trade volume, but turned from the end of 2020 and maintained a booming period until the end of 2022. The main reason for the market change is the decrease in the available fleet that can actually be operated for cargo transport due to port congestion by the COVID-19 pandemic, regardless of the fleet and trade volume volatility that have affected the drybulk shipping market in the past. A decrease in the actual usable fleet due to vessel waiting at port by congestion led to freight increase, and the freight increase in charting market led to an increase in second-hand ship and new-building ship price in long-term equilibrium relationship. In the past, the drybulk shipping market was determined by the volatility of fleet and trade volume. but, in the future, available fleet volume volatility by pandemics, environmental regulations and climate will be the important factors affecting BDI. To response to the IMO carbon emission reduction in 2023, it is expected that ship speed will be slowed down and more ships are expected to be needed to transport the same trade volume. This slowdown is expected to have an impact on drybulk shipping market, such as a increase in freight and second-hand ship and new-building ship price due to a decrease in available fleet volume.

• Journal of Korea Port Economic Association
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• v.39 no.4
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• pp.107-125
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• 2023

The pace of sustainability transition within the maritime industry has been accelerating. This shift primarily necessitates changes in the industry's heavy reliance on fossil fuel-driven ecosystems. Additionally, numerous sustainability laws and regulations, such as the EU's CBAM and IMO's EEXI, have been implemented. This transition is poised to amplify the competitive edge of firms equipped with greater resources, as it introduces substantial operational burdens due to expensive eco-friendly fuel adoption and regulatory compliance. To diverge from the traditional competitive landscape, this paper aims to explore innovative maritime finance models enabling domestic firms to gain competitive advantages on a global scale. Employing analogical reasoning and modeling as a research method, this paper demonstrates that maritime firms can leverage the sustainability transition by aligning sustainable maritime operations with ETS (Emission Trading Schemes). Expanding on this novel approach, the paper delves into potential connections between CCM (Compliance Carbon Market), VCM (Voluntary Carbon Market), and digital asset exchanges. This newly proposed digital/net-zero maritime ecosystem holds the potential to significantly impact the shipping, shipbuilding, and ship finance industries, positioning Busan as a sustainable maritime finance hub. This study holds significance as pioneering research that may stimulate subsequent case-based studies and offer strategic guidance to market participants and policymakers as the maritime industry moves towards a net-zero transition

• Journal of Ship and Ocean Technology
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• v.5 no.3
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• pp.1-13
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• 2001

Present-day rules and regulations for the design and construction of ships are almost without exemption of a prescriptive and deterministic nature. Often it is argued that this situation is far from ideal; it does no right to the advances, which have been made during the past decades in engineering tools in marine technology, both in methodology and in computational power. Within IMO this has been realized for some time and has resulted in proposals to use Formal Safety Assessment(FSA) as a tool to improve and to modernize the rule making process. The present paper makes use of elements of the FSA methodology, but instead of working towards generic regulations or requirements, a Risk Assessment Approach, not unlike a 'safety case'; valid for a certain ship or type of ship is worked out. Delft University of Technology investigated the application of safely assessment procedures in ship design, in co-operation with Anthony Veder Shipowners and safety experts from Safely Service Center BV. The ship considered is a semi-pressurized-fully refrigerated LPG carrier. On the basis of the assumption that a major accident occurs, various accident, scenarios were considered and assessed, which would impair the safety of the carrier. In a so-called Risk Matrix, in which accident frequencies versus the consequence of the scenarios are depicted, the calculated risks all appeared lo be in the ALARP('as low as reasonable practicable') region. A number of design alternatives were compared, both on safety merits and cost-effectiveness. The experience gained with this scenario-based approach will be used to establish a set of general requirements for safety assessment techniques in ship design. In the view that assessment results will be most probably presented in a quasi-quantified manner, the requirements are concerned with uniformity of both the safety assessment. These requirements make it possible that valid comparison between various assessment studies can be made. Safety assessment, founded on these requirements, provides a validated and helpful source of data during the coming years, and provides naval architects and engineers with tools experience and data for safety assessment procedures in ship design. However a lot of effort has to be spent in order to make the methods applicable in day-to-day practice.

• Ocean and Polar Research
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• v.42 no.2
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• pp.171-178
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• 2020

R/V EARDO, commissioned in 1992, has successfully carried out ocean research campaigns in Korean jurisdictional and adjacent waters, including continental margins and coastal zones within the Korean Exclusive Economic Zone (EEZ), for 29 years. However, it will soon be reaching the end of its useful service life. A replacement for R/V EARDO is urgently needed to ensure the safety of vessel itself and its crews, and efficient ship operation and maintenance, as well as to meet modern scientific mission requirements (SMRs). Basic specifications for a replacement ship have been devised and reviewed over the past nine months. A test of the proposed hull form was also performed. The total tonnage of the proposed vessel is approximately 740 tons, and the overall length and width are 62.0 and 11.6 m, respectively. The new ship will thus be 73% larger than the current R/V EARDO; in particular, the research workspace will be 4.4 times larger. The major design priorities are the propulsion system, efficiency of radiated noise and vibration control, and the dynamic positioning system. An environmentally friendly emission system, meeting International Maritime Organization (IMO) Tier III regulations, will be installed in the third exhaust pipe. Various wet and dry lab spaces as well as 32 different scientific instruments have also been considered in the ship design.

• Journal of the Korean Society of Marine Environment & Safety
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• v.24 no.3
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• pp.352-359
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• 2018

As a fuel for ship propulsion, liquefied natural gas (LNG) is currently considered a proven and reasonable solution for meeting the IMO emission regulations, with gas engines for the LNG-fueled ship covering a broad range of power outputs. For an LNG-fueled ship, the LNG bunkering process is different from the HFO bunkering process, in the sense that the cryogenic liquid transfer generates a considerable amount of boil-off gas (BOG). This study investigated the effect of the temperature difference on boil-off gas (BOG) production during ship-to-ship (STS) LNG bunkering to the receiving tank of the LNG-fueled ship. A concept design was resumed for the cargo/fuel tanks in the LNG bunkering vessel and the receiving vessel, as well as for LNG handling systems. Subsequently, the storage tank capacities of the LNG were $4,500m^3$ for the bunkering vessel and $700m^3$ for the receiving vessel. Process dynamic simulations by Aspen HYSYS were performed under several bunkering scenarios, which demonstrated that the boil-off gas and resulting pressure buildup in the receiving vessel were mainly determined by the temperature difference between bunkering and the receiving tank, pressure of the receiving tank, and amount of remaining LNG.

• Journal of the Korean Society of Marine Environment & Safety
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• v.6 no.2
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• pp.1-15
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• 2000

In world trade, the vessel traffic in major routes has been congested due to the rapid increase of cargoes and shipping tonnages. The patterns of vessel traffic have also been complicated and diversified. Therefore it was necessary that the Vessel Traffic Service(VTS) should be established in order to enhance the safety of navigation, to prevent the loss of life and damage to the environment. The first advanced radar surveillance system(LevelIII-VTS) was introduced in Pohang, Korea in 1993 and in 13 other ports later. While the hardware of Korea VTS is equal to that of an advanced country, the software, specially the operation manual, the recruitment and education of VTS operator, and the VTS service area is behind that of Russia, USA, Germany, Hong Kong, Singapore and others. After researching and investigating. the VTS equipment and service area of many countries, and analyzing the IMO regulations relevant to VTS and the traffic pattern and accident of Pohang port, the most efficient VTS service area should be established in Pohang. According to the analysis of the preceding studies and research on VTS, the worldwide VTS areas are recognized under the following conditions: First, the service area should be extended over at least radar coverage taking into account of traffic flow, traffic density, the degree of danger to navigation and harbour condition in order to provide all possible services. Second, the established service area should be subdivided and systematized to render reliable VTS services, such as the allocation of VHF frequency and reporting procedure in each area. In conclusion, the VTS service area of Pohang must be established and operated over 10 miles from shore(radar site) covering the radar coverage, so as to include the area of traffic congestion and high density traffic flow.

• Journal of the Korea Institute of Information Security & Cryptology
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• v.23 no.3
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• pp.515-530
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• 2013

The results of investigations into marine incidents have become an important basis in determining not only possible causes, but also the extent of negligence between the perpetrator and victim. However, marine incidents occur under special circumstances i.e. the marine environment, and this leads to difficulties in identifying causes due to problems in scene preservation, reenactment and acquisition of witnesses. Given the aforementioned characteristic of marine incidents, the International Convention for the Safety of Life at Sea (SOLAS) has adopted mandatory regulations on the carriage of Voyage Data Recorders (VDRs) and Automatic Identification Systems (AIS) for ships of a certain gross tonnage and upwards, so as to reflect recent developments in radio communication and marine technology. Adopted to provide an international standard for investigations and to promote cooperation, the Code of the International Standards and Recommended Practices for a Safety Investigation into a Marine Casualty or Marine Incident (Casualty Investigation Code) recommends member states to build capacity for analysis of VDR data. Against this backdrop, this paper presents methods for efficient investigations into the causes behind marine incidents based on data analysis of VDR, which serves as the black box of ships, as well as digital forensic techniques.

• Journal of the Korean Institute of Navigation
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• v.14 no.3
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• pp.63-73
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• 1990

Students of the Mogpo Merchant Marine College must complete one year's shipboard training course according to IMO(International Maritime Organization) regulations as an obtaining matter of Certificate of Competency. The purpose of this shipboard training course lies int he student's acquiring practical knowledge and sill as a part of a course of study and, in the future, fostering essential adaptability and leadership, especially in bad circumstances on the sea. The shipboard training course has two kind that the students can be trained either on the training ship or on a merchant ship of the shipping company. In this paper, I only thought over the legal status of apprentice officers on the merchant ship and analyzed the problems practicably during shipboard training. This paper is made up of five chapters. The first chapter contains the purpose contents and method of this study, in the second, the meaning of shipboard practice education and training, in the third, the legal status of apprentice officers on merchant ship, in the fourth, the analysis of the provisions of the seamen act applied to apprentice officers on a merchant ship. And in the last chapter 5, the contents mentioned is summarized and directions are presented to amend the provisions of the seamen act applied to apprentice officers. The conclusions are as follows. 1.In case of shipboard training on overseas employment ship, the seamen act applied to the manning agent employing the apprentice officers should be reinforced. 2. The provisions of disembarkation in mid course by discipline of the seamen acts Article 24 should be relaxed. And the provisions in relations to seamen's duty to be a reason of discipline applied to apprentice officer among the provisions for ship's public order maintenance should be abolished. 3. The provision of repartriation completely should be applied to apprentice officers and the provisions of a journey expenditure during their embarkation or disembarkation have to be established. 4. The apprentice officers in shipboard training also need securing a basic wages provision to be criterion of an accident compensation. 5. The apprentice officers in shipboard training should not be in charge of third officer's or third engineer' study.

• Journal of Advanced Marine Engineering and Technology
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• v.38 no.2
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• pp.123-132
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• 2014

The maritime sector is advancing with dedicated endeavor to reduce greenhouse gas in addressing issues with regards to global warming. Since 01 January 2013, the International Maritime Organization (IMO) regulation mandatory requirement for Energy Efficiency Design Index (EEDI) has been in place and should be satisfied by newly-built ships of more than 400 gross tonnage and the Ship Energy Efficiency Management Plan (SEEMP) for all ships type. Therefore, compliance to this necessitates planning during the design stage whereas verification can be carried-out through an acceptable method during sea trial. The MEPC-approved 2013 guidance, ISO 15016 and ISO 19019 on EEDI serves the purpose for calculation and verification of attained EEDI value. Individual ships EEDI value should be lower than the required value set by these regulations. The key factors for EEDI verification are power and speed assessment and their synchronization. The shaft power can be measured by telemeter system using strain gage during sea trial. However, calibration of shaft power onboard condition is complicated. Hence, it relies only on proficient technology that operates within the permitted ISO allowance. On the other hand, the ship speed can be measured and calibrated by differential ground positioning system (DGPS). An actual test on a newly-built vessel was carried out to assess the correlation of power and speed. The Energy-efficiency Design Index or Operational Indicator Monitoring System (EDiMS) software developed by the Dynamics Laboratory-Mokpo Maritime University (DL-MMU) and Green Marine Equipment RIS Center (GMERC) of Mokpo Maritime University was utilized for this investigation. In addition, the software can continuously monitor air emission and is a useful tool for inventory and ship energy management plan. This paper introduces the synchronization and identification method between shaft power and ship speed for EEDI verification in accordance with the ISO guidance.

• Journal of the Society of Naval Architects of Korea
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• v.52 no.6
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• pp.471-477
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• 2015

When a ship sails in a seaway, the resistance on a ship increases due to incident waves and winds. The magnitude of added resistance amounts to about 15–30% of a calm-water resistance. An accurate prediction of added resistance in waves, therefore, is essential to evaluate the performance of a ship in a real sea state and to design an optimum hull form from the viewpoint of the International Maritime Organization (IMO) regulations such as Energy Efficiency Design Index (EEDI) and Energy Efficiency Operational Indicator (EEOI). The present study considers added resistance problem of AFRAMAX-class tankers with the conventional bow and Ax-bow shapes. Added resistance due to waves is successfully calculated using 1) a three-dimensional time-domain seakeeping computations based on a Rankine panel method (three-dimensional panel) and 2) a commercial CFD program (STAR-CCM+). In the hydrodynamic computations of a three-dimensional panel method, geometric nonlinearity is accounted for in Froude-Krylov and restoring forces using simple wave corrections over exact wet hull surface of the tankers. Furthermore, a CFD program is applied by performing fully nonlinear computation without using an analytical formula for added resistance or empirical values for the viscous effect. Numerical computations are validated through four degree-of-freedom model-scale seakeeping experiments in regular head waves at the deep towing tank of Hyundai Heavy Industries.