• Journal of Navigation and Port Research
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• v.44 no.2
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• pp.119-127
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• 2020

In this study, the current state of management efficiency of ocean carriers in Korea and the factors affecting them were analyzed. The purpose of this research is to enhance global competitiveness of ocean carriers by presenting suggestions that can improve management efficiency based on the analysis results. The measurement of management efficiency was made using the DEA model. The results of testing the adequacy of the input and output variables used are as follows. Appropriate inputs are total assets, cost of goods sold, charter expenses, sales and general management expenses, and interest expenses. Appropriate variables are sales, operating income, and operating cash flow. According to the analysis results of the DEA model by these variables, inefficient carriers (78%) are nearly four times more than efficient carriers(22%). However, container carriers have the most improved management efficiency compared to 2016 and 2017. According to the panel regression analysis, the charter rate has the greatest negative impact on efficiency (CRS), and the debt rate has a significant negative impact. Thus, it appears that reducing the charter size and the debt-to-sale rate facilitate improvement of the management efficiency of ocean carriers. Additionally, the pre-sales tax return rate, value added rate, total asset turnover rate, and the scale variable and interest coverage rate have a positive (+) effect. Thus ocean carriers should restore their global competitiveness by improving management efficiency by securing stable cargoes increasing sales profitability from the cost management perspective, increasing productivity, and enhancing the efficiency of their total assets through efficient fleet management.

• Journal of Navigation and Port Research
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• v.46 no.5
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• pp.441-448
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• 2022

The aim of this study was to examine determinants of secondhand Bulk carrier and Oil tanker prices. This study compiled S& P transaction data taken from the Clarksons Research during J anuary 2018 to April 2022 to see how independent variables influenced secondhand ship prices. In the secondhand ship pricing model of entire segments, size, age, and LIBOR showed significant effects on prices. A vessel built in J apan and Korea was traded at a higher price than a vessel built in other countries. In the bulk segment, size, age, Clarksea index, LIBOR, and inflation were meaningful variables. In the Tanker segment, unlike Bulk carrier, only size and age were useful variables. This study performed regression analyses for various sizes of Bulk carriers and Oil tankers. It verified that impacts of variables other than ship size and age were significantly associated with ship type and size while macroeconomic variables had no influence except for bulk carriers. By applying diverse variables affecting secondhand ship price estimation according to various sizes of Bulk carriers and Oil tankers, this study will expand the scope of practical application for investors. It also reaffirms prior research findings that the secondhand ship market is primarily market-driven.

• Journal of Ocean Engineering and Technology
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• v.27 no.1
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• pp.51-58
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• 2013

Recently, there has been an increase in the demand for natural gas as a source of clean energy, which has increased the demand for LNG carriers. However, LNG carriers require a capital investment to obtain equipment for the regasification process, which prevents fires and explosions. Thus, on account of NIMBY, a CNG carrier is suggested that eliminates the need for regasification equipment. Meanwhile, carbon dioxide emissions are more and more regulated by international conventions such as the Kyoto Protocol. Because of this, $CO_2$ carriers have also received international attention as a methodology to transport and store $CO_2$ cargoes. Several vessels or tanks to transport and store $CO_2$ gas have been studied in various countries. This paper proposes a conceptual design for a 20ft container shaped tank to effectively transport small cargoes of $CO_2$ and CNG. The proposed pressure vessel or tank will be carried by a conventional containership or special cargo ship. The influences of the design parameters for proposed pressure vessel or tank. Including the materials, scantlings, and shape of the pressure vessel, are studied theoretically and computationally.

• Proceedings of the Korea Committee for Ocean Resources and Engineering Conference
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• 2004.05a
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• pp.73-78
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• 2004

For the preliminary stages of ship design it is necessary to develop a basic design, which specifies the main particulars of the vessel. based on the requirements given by the owner. An efficient design enables the shipyard to make a rough estimate of the construction costs and to put forward a favourable quote during the call for tenders. The parametric determination of the main particulars of the vessel involves the application of empirical formulae. These formulae have been created after detailed tests and research by maritime research institutions and researchers had been carried out. Here, the design of a medium sized Bulk Carrier (26000t dwt) with a service speed of 17 knots for carrying rice and rock phosphate has been illustrated. Medium sized Bulk Carriers (25,000t dwt - 50,000t dwt) are in steady demand among small shipping companies. They have a size advantage, in that port size restrictions do not affect their design tremendously. Nevertheless, structurally. they are one of the most difficult to build. During design, the rules of the maritime regulatory bodies were strictly adhered to.

• Journal of the Korean Society for Marine Environment & Energy
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• v.18 no.1
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• pp.15-21
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• 2015

This paper presents the feasibility study on $CO_2$ carrier for carbon dioxide marine geological storage. Conceptual design was carried out to acquire $CO_2$ carriers by retrofitting existing vessels and new ship-building. Based on conceptual design, the acquisition cost of $CO_2$ carriers was estimated. Finally, necessary expense and number of ships were estimated based on operational plans for the assumed scenario.

• Journal of Navigation and Port Research
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• v.44 no.4
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• pp.338-346
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• 2020

In this study, we first measured the Malmquist productivity index by DEA among the Korean ocean carriers. Second, it was intended to present measures to improve productivity by identifying the influence and discriminating power between productivity and the major financial ratios (profitability, financial stability, liquidity, efficiency and value-added productivity). Compared to 2017, there are 11 more shipping carriers with decline in productivity (MPI) than those with an increase in 2018. The increase in productivity is attributed to an increase in the Technology Change Index (TCI) affected by the external environment. There is strong significant correlation between the productivity (MPI) and the management efficiency (CRS). Additionally, the TECI (TECHI) index of the technological efficiency changes from internal factors of the shipping carrier is significantly higher than that of the efficient shipping carrier. This is because of the differences in scale efficiency. The ratio of charter cost/sales is also lower than that of the carriers with high productivity (0.17) and with low productivity (0.21). With 7% of the shipping carrier with MPI>1, only 1% of MPI <1 is found to have a significant impact on its productivity.

• Korean Journal of Environmental Biology
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• v.27 no.3
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• pp.244-251
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• 2009

To assess the algicidal effect of a bacterium, Pseudomonas fluorescens HYK0210-SK09 (SK09), attached to activated carbon polyvinyl alcohol (ACPA) and cellulose sponge (CS) carriers against Stephanodiscus hantzschii, the present study was carried out in an indoor-microcosm. As comparing immobilization effects of two carriers, the ACPA carrier allowed for higher packing cell density of SK09 compared to the CS carrier. In the microcosm, immobilized SK09 cells were applied to control S. hantzschii blooms. Immobilized SK09 cells exhibited a species-specific activity towards the diatom, showing an algicidal effect up to 72% attached by ACPA carriers and to 51% attached by CS carriers. In particular, a level of conductivity treated with ACPA carriers was decreased than that of CS carriers. The present study clearly demonstrates that ACPA-immobilized SK09 cells could effectively control S. hantzschii blooms and improve water quality in the microcosm ecosystem.

• Journal of the Korean Society of Marine Environment & Safety
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• v.27 no.2
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• pp.369-376
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• 2021

The International Maritime Organization has developed the Energy Efficiency Design Index, an index related to carbon dioxide emissions, to enforce regulations on newly built ships. In this study, a new type of energy-saving device called the ring stator was used for 158k crude oil carriers, whose hull form was developed as a very thin after-body hull to reduce the resistance by delaying separation. The Energy-Saving Device (ESD) particularly involving the duct, is not adapted to the thin-after body hull form-like container ship. This new ring stator was developed considering these characteristics. A parametric study was conducted through Computational Fluid Dynamics (CFD) analysis using the Star-CCM+ program, and approximately 3.4 % improvement in propulsion efficiency was achieved. Further optimization investigations and experimental studies should be conducted in the future.

• Journal of Navigation and Port Research
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• v.44 no.2
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• pp.79-87
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• 2020

In the field of logistics, the maritime shipping industry plays a critical role as the backbone of global trade activities. Nevertheless, previous studies on the commercialization and benefits of blockchain technology are limited in the field of marine logistics. Thus, the purpose of this study was to predict the benefit for each group involved in marine logistics when blockchain technology is applied. As such, 21 factors of benefits were selected for seven major logistics groups (financial institutions, freight forwarders, inland transportation, ocean carriers, port operators, port-related government authorities, and shippers) to study the benefit expected for each through the commercialization of blockchain technology. Based on the results, a different benefit level is expected for each group when blockchain technology is used. In order, ocean carriers (0.155), inland transportation (0.150), financial institutions (0.153), port operators (0.145), freight forwarders (0.142), port-related government authorities (0.129), and shippers (0.126) were found to benefit most from the use of blockchain technology. This study has industrial implications in that it presents the benefits expected when blockchain technology is realized and used in marine logistics by groups involved in logistics transactions.

• Journal of the Society of Naval Architects of Korea
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• v.47 no.5
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• pp.709-718
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• 2010

This paper deals with two contents: first, distributions of plate slenderness ratios, stiffened plate slenderness ratios, and stiffener slenderness ratios, which include dimensions and material variables of stiffened plates, of stiffened plates of large-sized in-service vessels, and, second, comparison of compressive strengths. The investigated vessels consist of 59 tankers, 49 bulkers, 28 product carriers, 15 container carriers, and 12 multi-purpose vessels. The tankers are ranged from handymax class to VLCC and larger than Suezmax class. The sizes of the bulkers are 20K to 200K deadweight. The maximum size of containers is less than 5000TEU class. Two parameters for normal distributions of the slenderness ratios (mean and standard deviation) are suggested and probable ranges of the slenderness ratios are also graphically presented. The ultimate strengths of the stiffened plates are presented using the various simplified formulas and nonlinear FEAs. As well, average compressive strength curves, which are necessary for the estimation of the hull girder moment capacities, are proposed. It is proved that formulas for stiffened plates in CSR overestimate slightly in overall average strain range. Mode5 formula (plate buckling mode) in CSR show unreasonably conservative results with respect to the ultimate strengths rather than post-ultimate average compressive strengths.