• Journal of Arbitration Studies
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• v.21 no.3
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• pp.189-211
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• 2011

This article aims at analysing the practical problems of FOB and CIF terms relating to Incoterms$^{(R)}$2010 in case of L/C transactions and presenting the defending measures against them. According to Incoterms$^{(R)}$2010, FOB and CIF terms are to be used only for sea or inland waterway transport and require the seller deliver the goods on board the vessel nominated by the buyer at named port of shipment. So if FOB and CIF terms will be used in sea transport under L/C transaction, the seller should ship the goods on the nominated vessel and present the shipping document indicating "on board vessel" to the issuing bank but the parties agree to present the received bill of lading according to special condition on L/C which is" received bill of lading are acceptable". In practical transaction, FOB and CIF terms are usually used in aircraft cargo, container cargo or multimodal transport. these facts are a violation of Incoterms. Incoterms$^{(R)}$2010 which regulated that FOB and CIF terms may not be appropriate where goods are handed over the carrier before they are on board the vessel for example goods in container. These transactions are a temporary expedient and breach of Incoterms in the international trade which must be corrected as soon as possible.

• IE interfaces
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• v.22 no.1
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• pp.63-72
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• 2009

This paper considers a transporter scheduling problem under dynamic block transportation environment in shipbuilding. In dynamic situations, there exist the addition, cancellation or change of block transportation requirements, sudden breakdowns and maintenance of transporters. The transportation of the blocks in the shipyard has some distinct characteristics. Some blocks are available to be picked up at a specific time during the planning horizon while some other blocks need to be delivered before a specific time. These requirements cause two penalty times: 1) delay times incurred when a block is picked up after a required start time, and 2) tardy times incurred when a block shipment is completed after the required delivery time. The blocks are located at different areas in the shipyard and transported by transporters. The objective of this paper is to propose a heuristic algorithm based on a network flow model which minimize the weighted sum of empty transporter travel times, delay times, and tardy times. Also, a rolling-horizon scheduling method is proposed for dynamic block transportation environment. The performance of the proposed heuristic algorithms are evaluated through a simulation experiment.

• The Journal of Fisheries Business Administration
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• v.47 no.4
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• pp.65-75
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• 2016

The purpose of this study was to analyze the production and marketing control effects of aqua-cultured flounder required for stable income growth of aqua-cultured household. We analyzed the supply and demand structure of cultured flounder using the partial equilibrium model approach. And we estimated the optimal yield of cultured flounder and analyzed the effect of marketing control through constructed model. The main results of this study are summarized as follows. First, the fitness and predictive power of the estimated model showed that the RMSPE and MAPE values were less than 5% and Theil's inequality coefficient was very close to 0 rather than 1. It was evaluated that the prediction ability of the aqua-cultured flounder supply and demand model by dynamic simulation was excellent. Second, dynamic simulation based on policy simulation was conducted to analyze the price increase effect of production and shipment control of cultured flounder. As a result, if the annual production volume is reduced by 1%, 5%, and 10% among 32,852~37,520 tons, it is analyzed that the price increase effect is from 1.2% to 12.5%. Finally, this study suggests that the production and marketing control can increase the price of aqua-cultured flounder in the market. In this paper, we propose a policy implementation of the total supply system instead of conclusions.

• Journal of Environmental Science International
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• v.22 no.12
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• pp.1625-1631
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• 2013

In manufacturing of flatfish skin collagen peptide (FSCP) and flatfish protein hydrolysate (FPH) by reuse of dead flatfish from fish farm in Jeju island, the industrial process was optimized with the laboratory scale research and the on-field process. Segmented unit processes from raw material incoming to shipment were established to produce commercial product of FSCP and FPH. Total plate counts of FSCP were twenty five times of FPH, but food poisoning bacteria were not detected in two samples. FSCP and FPH were safe from heavy metal such as Pb(II), Cd(II) and Hg(II). The residual contents of antibiotics and disinfection matter in FSCP and FPH were not detected. The optimized process for mass production made the one-third of the running time and two times of the yield. From economic analysis, the production cost was estimated to 22,000 and 12,000 won/kg for FSCP and FPH, respectively. Therefore the product from the reuse of dead flatfish was expected to have a considerable competitive price and high added-value functional food material compared with other commercially available fish products.

• Industrial Engineering and Management Systems
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• v.14 no.1
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• pp.1-10
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• 2015

In this paper, we consider multi-item inventory management. When managing a multi-item inventory, we coordinate replenishment orders of items supplied by the same supplier. The associated problem is called the joint replenishment problem (JRP). One often-used approach to the JRP is to apply a can-order policy. Under a can-order policy, some items are re-ordered when their inventory level drops to or below their re-order level, and any other item with an inventory level at or below its can-order level can be included in this order. In the present paper, we propose a method for finding the optimal parameter of a can-order policy, the can-order level, for each item in a lost-sales model. The main objectives in our model are minimizing the number of ordering, inventory, and shortage (i.e., lost-sales) respectively, compared with the conventional JRP, in which the objective is to minimize total cost. In order to solve this multi-objective optimization problem, we apply a genetic algorithm. In a numerical experiment using actual shipment data, we simulate the proposed model and compare the results with those of other methods.

• Journal of the Korean Society of Manufacturing Technology Engineers
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• v.22 no.6
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• pp.921-930
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• 2013

From an economic perspective, an enterprise's business activity depends on the efficient use of corporate resources for generating profits. However, on the enterprise side, it is difficult to measure and evaluate the effective use of each resource. This paper suggests an alternative for eliminating process inefficiencies in the consolidation of competitive power in auto parts manufacturing company A. Multitudinous process variables from company A's raw materials-to-shipment process are configured as input resources, and a Data Envelopment Analysis(DEA) is carried out to determine economical benefit of said resources' operation, as well as how products are manufactured. The DEA model offers a non-parametric approach to measuring relative efficiency using input and output factors. Furthermore, AHP is used for logically deciding the importance of each evaluation factor. In general, DEA models have been used for measuring efficiency of the service and public sectors. However, this study focused on measuring the efficiency of SMEs production lines.

• THE INTERNATIONAL COMMERCE & LAW REVIEW
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• v.46
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• pp.159-177
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• 2010

This work intends to study some problems in relation to the issuance of letters of credit. Those problems are the delay of issuing letters of credit, the reissuing letters of credit, and the issuing letters of credit in the third party's name. Sellers and buyers must keep in mind that the supply of letter of credit by buyer is the condition precedent for a seller's shipment obligation. A seller has no obligation to ship the goods until he receives the letter of credit by buyer's bank, issuing bank. An issuing bank can have the risk that an original letter of credit and a reissued letter of credit can be used double in the exporting country. The most safe method for issuing bank is to cancel the original letter of credit and to reissue a new letter of credit. When an issuing bank issues a letter of credit in the third party's name, the bank should investigate the background of the transaction and give the buyer a proper line of credit.

• THE INTERNATIONAL COMMERCE & LAW REVIEW
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• v.58
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• pp.35-58
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• 2013

In Mash & Murrell, Diplock J said that "there is an implied warranty not merely that they shall be merchantable at the time they are put on the vessel, but that they shall be in such a state that they can endure the normal journey and be in a merchantable condition upon arrival." But in The Mercini Lady, Field J said that "the goods would be of satisfactory quality not only when the goods were delivered on to the vessel but also for a reasonable time thereafter." and "The proposed conditions were not excluded by clause 18. ${\cdots}$ clause 18 was not to be construed as extending to conditions ${\cdots}$". In relation to the problems on validity of the goods conformity clauses in FOB contracts, when considering Lord Wright's comments ("${\cdots}$ hence apt and precise words must be used to exclude it: the words guarantee or warranty are not sufficiently clear.") in Cammell Laird & Co Ltd v Manganese Bronze and Brass, FOB contracts are fundamentally one that seller's duty to deliver the goods is completing at the port of shipment and "principle of party autonomy" in Contract Law, I do not think that the terms implied by section 14 of the SGA and Common Law cannot absolutely excluded by the goods conformity clauses in sale contracts. Therefore, in order to exclude the implied terms, the parties must very clearly spell out this in the relevant clauses.

• Journal of Korean Society for Atmospheric Environment
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• v.28 no.6
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• pp.706-713
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• 2012

Global warming caused by greenhouse gases is threatening our ecosystem. Moreover, our food system is in severe danger. Recently the local food system is emerging as an alternative food network, decreasing food miles and carbon dioxide emissions, protecting the safety of our foods, and helping local economy. However, carbon labelling for agricultural products has not been introduced yet in Korea. Accordingly, research on food miles and carbon labelling for agricultural products should be urgently conducted. The study compared the food miles and the carbon dioxide emission of major agricultural products. In addition, the food mileages of garlic and carrot are compared between Korea and China. The results show that radish has the highest carbon dioxide emission, and followed by onion and cabbage. These products are produced from Jeju island and have a high Shipment volume. Although Chinese Garlic and radish have lower shipping volume and food miles than Koreans, they have higher carbon dioxide emissions due to ship transportation. Based on these results some valuable implications can be identified. Current food distribution system, which heavily focuses on the Metropolitan area, should be changed into a local system, in which foods are consumed in the local area first then transported to other area.

• Journal of the Society of Naval Architects of Korea
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• v.41 no.6
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• pp.1-7
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• 2004

Recently, very large container ships are emerging as shipment of containers is expected to rapidly increase near future. A possibility of roll resonant motion in a seaway is expected to noticeably increase for large container ships of which capacity ranges 8,000 to 15,000 TEU due to relatively wide breadth and shallow draft comparing to conventional container ships. In this paper, a design and performance evaluation of a fin stabilizer for a 9,000 TEU container ship is carried out. The weak opposed control concept is adopted for the design. Time domain simulations and model tests are performed for performance evaluation. The design prediction, the model tests and the simulations show generally good agreements.