• Journal of Institute of Control, Robotics and Systems
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• v.20 no.7
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• pp.750-755
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• 2014

Product shortage which causes backordering and/or lost sales cost is very popular in chemical industries, especially in commodity polymer business. This study deals with backordering cost in the supply chain optimization model under the framework of process-inventory network. Classical economic order quantity model with backordering cost suggested optimal time delay and lot size of the final product delivery. Backordering can be compensated by advancing production/transportation of it or purchasing substitute product from third party as well as product delivery delay in supply chain network. Optimal solutions considering all means to recover shortage are more complicated than the classical one. We found three different solutions depending on parametric range and variable bounds. Optimal capacity of production/transportation processes associated with the product in backordering can be different from that when the product is not in backordering. The product shipping cycle time computed in this study was smaller than that optimized by the classical EOQ model.

• Journal of Advanced Research in Ocean Engineering
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• v.4 no.3
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• pp.96-104
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• 2018

The importance of data management for the efficient maintenance and operation of offshore structures is becoming increasingly important. This paper has discussed the data schema and business rules that standardize the data exchange between ship design, operation and maintenance. Technical documentation that meets the international standards of ShipDex and S1000D for exchanging the operation and management data in neutral or standard formats has been introduced into the life cycle management of ships. The schema of the data exchange is represented by XML (eXtensible Markup Language) and the lifecycle data is implemented by a structured document. Lifecycle data is represented as data modules defined by XML schema. Given the feasible data generation, an example of a technical document is introduced by a general XML authoring tool.

• The Journal of Korean Institute of Communications and Information Sciences
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• v.36 no.6B
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• pp.710-719
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• 2011

Shipping companies have become interested in the development of strategic ship assets management systems which are implemented for high competitiveness and business rationalization to meet the tough business environment of high oil prices and decrease in cargo. In this paper we introduce a ship assets management system that is suitable for the SAN(Ship Area Network) environment. This system is designed to execute business strategy of ship owners giving consideration to requirements of shipping stakeholders. In addition we have implemented it in a web-based ERP system (SHERP) which separates user interface and business logic. The SHERP is based on STEP and PLIB, which are international standards for data exchange of mechanical devices and parts. It also adopts a ship ontology to manage the ship information and knowledge during its life-cycle. The SHERP will be a concrete example of servitization of shipbuilding, as an information system which is used in ships and ship groups.

• Journal of Korea Port Economic Association
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• v.38 no.2
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• pp.153-164
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• 2022

In this study, we estimate the quantile-regression framework of the shipping industry for the Capesize used ship, which is a typical raw material transportation from January 2000 to December 2021. This research aims two main contributions. First, we analyze the relationship between the Capesize used ship, which is a typical type in the raw material transportation market, and the freight market, for which mixed empirical analysis results are presented. Second, we present an empirical analysis model that considers the structural transformation proposed in the Hyunsok Kim and Myung-hee Chang(2020a) study in quantile-regression. In structural change investigations, the empirical results confirm that the quantile model is able to overcome the problems caused by non-stationarity in time series analysis. Then, the long-run relationship of the co-integration framework divided into long and short-run effects of exogenous variables, and this is extended to a prediction model subdivided by quantile. The results are the basis for extending the analysis based on the shipping theory to artificial intelligence and machine learning approaches.

• Nuclear Engineering and Technology
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• v.42 no.5
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• pp.582-589
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• 2010

As a part of the back-end fuel cycle, transportation of spent nuclear fuel (SNF) from nuclear power plants (NPPs) to a fuel storage facility is very important in establishing a nuclear fuel cycle. In Korea, the accumulated amount of SNF in the NPP pools is troublesome since the temporary storage facilities at these NPP pools are expected to be full of SNF within ten years. Therefore, Korea cannot help but plan for the construction of an interim storage facility to solve this problem in the near future. Especially, a decision on several factors, such as where the interim storage facility should be located, how many casks a transport ship can carry at a time and how many casks are initially required, affect the configuration of the transportation system. In order to analyze the various possible candidate scenarios, we assumed four cases for the interim storage facility location, three cases for the load capacity that a transport ship can carry and two cases for the total amount of casks used for transportation. First, this study considered the currently accumulated amount of SNF in Korea, and the amount of SNF generated from NPPs until all NPPs are shut down. Then, how much SNF per year must be transported from the NPPs to an interim storage facility was calculated during an assumed transportation period. Second, 24 candidate transportation scenarios were constructed by a combination of the decision factors. To construct viable yearly transportation schedules for the selected 24 scenarios, we created a spreadsheet program named TranScenario, which was developed by using MS EXCEL. TranScenario can help schedulers input shipping routes and allocate transportation casks. Also, TranScenario provides information on the cask distribution in the NPPs and in the interim storage facility automatically, by displaying it in real time according to the shipping routes, cask types and cask numbers that the user generates. Once a yearly transportation schedule is established, TranScenario provides some statistical information, such as the voyage time, the availability of the interim storage facility, the number of transported casks sent from the NPPs, and the number of transported casks received at the interim storage facility. By using this information, users can verify and validate a yearly transportation schedule. In this way, the 24 candidate scenarios could be constructed easily. Finally, these 24 scenarios were compared in terms of their operation cost.

• Journal of Navigation and Port Research
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• v.45 no.6
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• pp.276-283
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• 2021

The capital structure of the shipping business, which is characterized by its capital intensity and extreme market volatility, is closely related to long-term stability. Research in this area has been conducted mostly in the form of deriving the determinants of capital structure from company-wise financial ratios. This research, on the other hand, has a different approach to the topic. It identifies the relationship between actual cash profit and loss and other variables - i.e. actual vessel prices, interest rates and leverage ratio - by employing historical simulation. The result demonstrates that the P anamax cash profit shows 0 (break-even point) when the debt weight reaches 64.38% (debt ratio 180.74%) and the Cape, 73.04% (debt ratio 270.92%). Additionally, the ships of different types show a divided pattern for the pre- and post-'Super Boom'. It indicates that the business area and the market cycle should be considered when a leverage strategy is established. This research benefits shipping companies set a rational leverage strategy as well as delivers a reasonable guideline to government authorities for the development of a sound policy on shipping finance.

• Journal of Energy Engineering
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• v.21 no.4
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• pp.402-410
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• 2012

A two-loop Rankine cycle for engine waste heat recovery of gasoline vehicle has been investigated. Water-steam cycle as a high-temperature (HT) loop for exhaust gas heat recovery and R-134a cycle as a low-temperature (LT) loop for both heat recovery of the engine coolant and the residual heat from the HT loop were considered. Energy and exergy analysis was performed to investigate the performance of the system. Because two volumetric expanders are used for the HT and LT loop, the sizes of two expanders are very important for the optimization of the system. The effects of pressure ratio of the HT loop, considering the size of the HT expander, and the condensation temperature of LT loop on the performance of the system at a target engine condition were investigated. This study shows that about 20% of additional power from the engine waste heat recovery can be obtained at the target engine condition.

• Transactions of the Korean Society of Mechanical Engineers B
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• v.36 no.6
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• pp.593-600
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• 2012

The exergy characteristics for R245fa and water working fluids have been analyzed for an electric generation system utilizing the Rankine cycle to recover heat from the wasted exhaust gas from a diesel engine used for the propulsion of a large ship. The theoretical calculation results showed that the efficiencies of exergy and system exergy improved as the turbine inlet pressure increased for R245fa at a fixed mass flow rate. Furthermore, the exergy destruction rates of the condenser and evaporator were relatively larger than those in other components. The exergy efficiency of the system increased with increasing mass flow rate. For a water working fluid, although the exergy destruction rate of the evaporator was similar to that for R245fa, the exergy loss rate varied significantly in response to variations in the pressure and mass flow rates at the turbine inlet.

• Journal of the Society of Naval Architects of Korea
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• v.49 no.4
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• pp.350-358
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• 2012

This paper deals with accuracy of accumulated fatigue damage estimation using stochastic fatigue analysis method based on Rayleigh PDF. From full scale measurement data on an 8100TEU container vessel, zero-order spectral moments for wave- and vibration-induced energy spectral densities are determined on the probability level of 99%. 80 simulation cases in total are prepared according to the variation of ratio of zero-order spectral moments and center frequency of vibration ESD. By using inverse Fourier transformation and rainflow cycle counting for the combined ESD of wave and vibration, exact fatigue damages are derived. Fatigue damages in frequency domain based on Rayleigh PDF show large conservativeness compared to exact fatigue damages in times domain. The main cause of the excessive conservativeness is analyzed by two aspects: ratio of zero crossing and peak frequencies and ratio of initial zero order spectral moments and zero order spectral moments from rainflow stress range distributions. Finally, a guideline of applicability of Rayleigh PDF is proposed for wide band processes.

• Journal of Energy Engineering
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• v.21 no.4
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• pp.411-418
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• 2012

The effect of built-in volume ratio of expander on the performance of a two-loop Rankine cycle system for engine waste heat recovery of vehicle has been investigated. In the case of positive displacement expander in the various operating condition of the vehicle, it can operate in both under-expansion and over-expansion conditions. Therefore, the analysis of off-design performance for the expander is very important. Furthermore, the volume and weight of the expander as well as the efficiency must be considered in the optimization of the expander. This study shows that the built-in volume ratio of expander causing under-expansion at a target condition is more desirable considering the off-design performance and size of the expander, based on the simple modeling of off-design operation of the expander.