• Title/Summary/Keyword: Oil market structure

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Structural Safety Assessment of Tie-down for Securing Helicopter (헬리콥터 고정용 안전장치 구조 안전성 평가)

  • Myung Su Yi;Kwang-Chul Seo;Joo Shin Park
    • Journal of the Korean Society of Marine Environment & Safety
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    • v.29 no.4
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    • pp.372-379
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    • 2023
  • International oil prices are expected to increase from $85 a barrel this year to up to $100 a barrel in the second half of the year; this is likely to increase orders for offshore plants in the global market. One main characteristic of offshore plants is that a large helideck is located on the top side, and aluminum alloys are used as the basic material of the structure for weight reduction and corrosion resistance. Shipowners are increasing the size of helicopters to quickly evacuate lives in the event of an emergency, and the safety use load of devices that can stably secure helicopters to the deck is also required to increase. Owing to the nature of the aluminum material, the structural strength caused by welding is greatly reduced; therefore, the fixing device must be designed by embedding it in the deck and fixing it with bolts. In this study, a model applying aluminum alloy 6082-T6 was developed to develop a helicopter fastening device that can be used for large helidecks (diameter = 28 m). The developed item was verified through nonlinear structural strength calculation to satisfy the load used for the actual fastening condition. The load condition with a 45° showed a lower ultimate strength than the 90° case owing to local plastic collapse. The nonlinear structural collapse behavior showed a result similar to that of the experimental test. The main contents derived from this study are considered to be reference materials when evaluating the structural strength of similar aluminum equipment.

The Effects of e-Business on Business Performance - In the home-shopping industry - (e-비즈니스가 경영성과에 미치는 영향 -홈쇼핑을 중심으로-)

  • Kim, Sae-Jung;Ahn, Seon-Sook
    • Management & Information Systems Review
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    • v.22
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    • pp.137-165
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    • 2007
  • It seems high time to increase productivity by adopting e-business to overcome challenges posed by both external factors including the appreciation of Korean won, oil hikes and fierce global competition and domestic issues represented by disparities between large corporations and small and medium enterprises (SMEs), Seoul metropolitan and local cities, and export and domestic demand all of which weaken future growth engines in the Korean economy. The demands of the globalization era are for innovative changes in businessprocess and industrial structure aiming for creating new values. To this end, e-business is expected to play a core role in the sophistication of the Korean economy through new values and innovation. In order to examine business performance in e-business-adopting industries, this study analyzed the home shopping industry by closely looking into the financial ratios including the ratio of net profit to sales, the ratio of operation income to sales, the ratio of gross cost to sales cost, the ratio of gross cost to selling, general and administrative (SG&A) expense, and return of investment (ROI). This study, for best outcome, referred to corporate financial statements as a main resource to calculate financial ratios by utilizing Data Analysis, Retrieval and Transfer System (DART) of the Financial Supervisory Service, one of the Korea's financial supervisory authorities. First of all, the result of the trend analysis on the ratio of net profit to sales is as following. CJ Home Shopping has registered a remarkable increase in its ratio of net profit rate to sales since 2002 while its competitors find it hard to catch up with CJ's stunning performances. This is partly due to the efficient management compared to CJ's value of capital. Such significance, if the current trend continues, will make the front-runner assume the largest market share. On the other hand, GS Home Shopping, despite its best organized system and largest value of capital among others, lacks efficiency in management. Second of all, the result of the trend analysis on the ratio of operation income to sales is as following. Both CJ Home Shopping and GS Home Shopping have, until 2004, recorded similar growth trend. However, while CJ Home Shopping's operating income continued to increase in 2005, GS Home Shopping observed its operating income declining which resulted in the increasing income gap with CJ Home Shopping. While CJ Home Shopping with the largest market share in home shopping industryis engaged in aggressive marketing, GS Home Shopping due to its stability-driven management strategies falls behind CJ again in the ratio of operation income to sales in spite of its favorable management environment including its large capital. Companies in the Group B were established in the same year of 2001. NS Home Shopping was the first in the Group B to shift its loss to profit. Woori Home Shopping has continued to post operating loss for three consecutive years and finally was sold to Lotte Group in 2007, but since then, has registered a continuing increase in net income on sales. Third of all, the result of the trend analysis on the ratio of gross cost to sales cost is as following. Since home shopping falls into sales business, its cost of sales is much lower than that of other types of business such as manufacturing industry. Since 2002 in gross costs including cost of sales, SG&A expense, and non-operating expense, cost of sales turned out to have remarkably decreased. Group B has also posted a notable decline in the same sector since 2002. Fourth of all, the result of the trend analysis on the ratio of gross cost to SG&A expense is as following. Due to its unique characteristics, the home shopping industry usually posts ahigh ratio of SG&A expense. However, more than 80% of SG&A expense means the result of lax management and at the same time, a sharp lower net income on sales than other industries. Last but not least, the result of the trend analysis on ROI is as following. As for CJ Home Shopping, the curve of ROI looks similar to that of its investment on fixed assets. As it turned out, the company's ratio of fixed assets to operating income skyrocketed in 2004 and 2005. As far as GS Home Shopping is concerned, its fixed assets are not as much as that of CJ Home Shopping. Consequently, competition in the home shopping industry, at the moment, is among CJ, GS, Hyundai, NS and Woori Home Shoppings, and all of them need to more thoroughly manage their costs. In order for the late-comers of Group B and other home shopping companies to advance further, the current lax management should be reformed particularly on their SG&A expense sector. Provided that the total sales volume in the Internet shopping sector is projected to grow over 20 trillion won by the year 2010, it is concluded that all the participants in the home shopping industry should put strategies on efficient management on costs and expenses as their top priority rather than increase revenues, if they hope to grow even further after 2007.

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Foreign Entry Strategies for Korean Fishery Firms (한국수산업의 해외진출전략에 관한 연구)

  • 김회천
    • The Journal of Fisheries Business Administration
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    • v.15 no.1
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    • pp.131-153
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    • 1984
  • Fishery resources are still abundant compared with other resources and the possibility of exploitation is probably great. The Korean fishery industry has grown remarkably since 1957, and Korea is ranked as one of the major fishery countries. Its of fishery products reached the 9th in the world and the value of exports was 5th in 1982. But recently a growth rate has slowed down, due to the enlargement of territorial seas by the declaration of the 200 mile, Exclusive Economic Zone, the tendency to develop fishery resources strate-gically in international bargaining, the change in function of the international organizations, the expansion of regulated waters, the illegal arrest of our fishing boats, the rapid rise in oil prices, and the fall in fish prices, the development of fishery resources as a symbol of nationalism, the fishing boats decreptitude, the rise of crew wages, regulations on fishing methods, fish species, fishing season, size of fish, and mesh size, fishing quotas and the demand of excessive fishing royalties. Besides the the obligation of coastal countries, employing crews of their host countries is also an example of the change in the international environment which causes the aggravation of foreign profit of fishing firms. To ameliorate the situation, our Korean fishery firms must prepare efficient plans and study systematically to internationalize themselves because such existing methods as conventional fishing entry and licence fishing entry are likely to be unable to cope with international environmental change. Thus, after the systematic analysis of the problem, some new combined alternatives might be proposed. These are some of the new schemes to support this plan showing the orientation of our national policy: 1. Most of the coastal states, to cope with rapid international environmental change and to survive in the new era of ocean order, have rationalized their higher governmental structure concerning the fishery industries. And the coastal countries which are the objectives of our expecting entry, demand excessive economic and technical aid, limit the number of fishing boats’entry and the use of our foreign fishing bases, and regulate the membership of the international fishery commissions. Especially, most of the coastal or island countries are recently independent states, which are poorer in national budget, depend largely on fishing royalties and licence entry fees as their main resources of national finance. 2. Alternatives to our entry to deep sea fishing, as internationalization strategies, are by direct foreign investment method. About 30 firms have already invested approximately US $ 8 million in 9 coastal countries. Areas of investment comprise the southern part of the Atlantic Ocean, the Moroccan sea and five other sea areas. Trawling, tuna purse seining and five other fields are covered by the investment. Joint-venture is the most prominent method of this direct investment. If we consider the number of entry firms, the host countries, the number of seas available and the size of investment, this method of cooperation is perhaps insufficient so far. Our fishery firms suffer from a weakness in international competitive ability, an insufficiency of information, of short funds, incompetency in the market, the unfriendliness of host coastal countries, the incapability of partners in joint-ventures and the political instability of the host countries. To enlarge our foreign fishing grounds, we are to actively adopt the direct investment entry method and to diversity our collaboraboration with partner countries. Consequently, besides proper fishing, we might utilize forward integration strategies, including the processing fied. a. The enterprise emigration method is likely to be successful in Argentina. It includes the development of Argentinian fishing grounds which are still not exploited in spite of abundant resources. Besides, Arentina could also be developed as a base for the exploitation of the krill resources and for further entries into collaboration with other Latin American countries. b. The co-business contract fishing method works in American territorial seas where American fishermen sell their fishery products to our factory ships at sea. This method contributes greatly to obtaining more fishing quotas and in innovation bottom fishing operation. Therefore we may apply this method to other countres to diffuse our foreign fishing entry. c. The new fishing ground development method was begun in 1957 by tuna long-line experimental fishing in the Indian Ocean. It has five fields, trawling, skipjack pole fishing and shrimp trawling, and so on. Recently, Korean fisheries were successful in the development of the Antarctic Ocean krill and tuna purse seining. 3. The acceleration of the internationalization of deep sea fishing; a. Intense information exchange activities and commission participation are likely to be continues as our contributions to the international fishery organizations. We should try to enter international fishery commissions in which we are not so far participating. And we have to reform adequately to meet the changes of the function of the international commissions. With our partner countries, we ought to conclude bilateral fishery agreements, thus enlarging our collaboration. b. Our government should offer economic and technical aids to host countries to facilitate our firms’fishery entry and activities. c. To accelerate technical innovation, our fishery firms must invest greater amount in technical innovation, at the same time be more discriminatory in importing exogeneous fishery technologies. As for fishing methods; expanded use of multi-purpose fishing boats and introduction of automation should be encuraged to prevent seasonal fluctuations in fishery outputs. d. The government should increases financial and tax aid to Korean firms in order to elevate already weak financial structure of Korean fishery firms. e. Finally, the government ought to revise foreign exchange regulations being applied to deep sea fishery firms. Furthermore, dutes levied on foreign purchaed equipments and supplies used by our deep sea fishing boats thould be reduced or exempted. when the fish caught by Korean partner of joint-venture firms is sold at the home port, pusan, import duty should be exempted.

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An Analysis of the Port Competition Structure: Focusing on Import and Export Items of Ports in Western Coast Region (항만의 경쟁구조 분석에 관한 연구: 서해안권 항만 수출입품목을 중심으로)

  • Lee, Jin-Kyu;Yeo, Gi-Tae
    • Journal of Korea Port Economic Association
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    • v.31 no.4
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    • pp.75-89
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    • 2015
  • This study examines 31 import and export cargo items handled in each port to investigate which items face the most competition among the ports and how many of them are transited to other ports. The study aims to suggest implications for the future port policy of Incheon Port. It was found that the volume concentration in the Western Coast region from 2005 to 2014 became increasingly decentralized. The decentralization began in earnest in 2009 in particular, and the value was 0.448 in 2014, indicating fierce competition among the regions. According to the static and dynamic positioning analyses results for Incheon Port, Pyeongtaek and Dangjin Port, and Gunsan Port, using BCG Matrix, the static positioning analysis showed that Incheon Port belongs to the 3rd quadrant (Cash Cows), Pyeongtaek and Dangjin Port belongs to the 2nd quadrant (Question Marks), and Gunsan Port belongs to the (Dogs) group. This implies that Incheon Port has maintained its position with large shares compared to those of other ports, despite its low growth rate. However, the market position and growth rate of Incheon Port decreased according to the dynamic positioning analysis results. The shift-share analysis results indicated that the volumes of Incheon Port and Gunsan Port were shifting to Pyeongtaek and Dangjin Port. Moreover, the ratio of absolute growth to potential growth of Incheon Port and Gunsan Port turned out to be significantly lower than that of Pyeongtaek and Dangjin Port, implying that Incheon Port and Gunsan Port are declining as compared to Pyeongtaek Port and Dangjin Port. According to the LQ index analysis results, specialized items from Incheon Port that do not overlap with other ports included the following ten items: meat, fish and crustaceans, bituminous coals, crude oil and petroleum, petroleum-refined products, plastic rubber and products, textiles, nonferrous metal and products, electric machinery, and aircrafts and ships. In particular, it was confirmed that the bulk cargo of Incheon Port was actually shifting to Pyeongtaek and Dangjin Port following the policy of re-establishing port functions.