• Journal of Navigation and Port Research
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• v.48 no.2
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• pp.104-108
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• 2024

This study investigates the relationship between national controlling fleets and the managerial performance of ship management companies in Korea. As industries clearly show interrelations between upstream and downstream entities , it is likely that the managerial performance of ship management companies in Korea is affected by the size of national fleet. Therefore, the present study analyzes the impact of Korean fleet size on the growth and the profitability of ship management firms. To this end, the performances of 10 major ship management companies in the period from 2012-2022 are examined through panel data regressions. The results indicate that the size of the national fleet has a positive impact on growth in both the assets and the sales of ship management companies. Specifically, the size of the Korean-flagged fleet is the most crucial factor, while that of the foreign-flagged fleet has no significant effect. In stark contrast to the findings regarding growth, the size of national fleet is found to have no significant impact on the profitability of ship management companies. This study's findings are expected to provide valuable implications informing both the managerial decision-making of ship management companies as well as policy-making for shipping and its related industries.

• Proceedings of KOSOMES biannual meeting
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• 2003.05a
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• pp.41-58
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• 2003

A recent trend of global shipping industry adopting Port State Control (PSC) system is recognized as a proficient mechanism in preventing costal traffic accident and protecting marine environment. Disadvantages of Korean shipping companies in PSC inspection are unavoidable as Tokyo MOU imposed priority listed flag to Korea. Having stated above, appropriate research and prompt preparation in compliance with current PSC requirements for the Korean shipping companies have become an immediate need. The objectives of this study are : First, to review in understanding of PSC in overall and foundation of enforcement. Second. to study interaction of international treaties regarding PSC. Third, to compare practical compliance among the countries and to open up a case study on Korean shipping companies in adopting PSC. Last, to suggest direction to the Korean shipping companies the most proficient way in compliance with the current Tokyo MOU requirement. Korean flagged vessels have become prioritized target in PSC inspection as Tokyo MOU imposed priority listed flag to Korea due to high detention rate of its fleet. Disadvantage of a priority listed flag is a burden in its proficient fleet operation. This study suggests solutions to the disadvantages as below. : 1) Change shore management system, and provide continuous & quality education to crew members 2) Form a network in sharing PSC information among the Korean shipping companies 3) Form a centralized function in which government, Korean Shipping register and shipowners can treat problems in a prompt manner.