• Title/Summary/Keyword: Shipping Freight rate

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The Effects of International Finance Market Shocks and Chinese Import Volatility on the Dry Bulk Shipping Market (국제금융시장의 충격과 중국의 수입변동성이 건화물 해운시장에 미치는 영향)

  • Kim, Chang-Beom
    • Journal of Korea Port Economic Association
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    • v.27 no.1
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    • pp.263-280
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    • 2011
  • The global financial crisis, triggered by the subprime mortgage crisis in 2007, has put the world economy into the recession with financial market turmoil. I tested whether variables were cointegrated or whether there was an equilibrium relationship. Also, Generalized impulse-response function (GIRF) and accumulation impulse-response function (AIRF) may be used to understand and characterize the time series dynamics inherent in economical systems comprised of variables that may be highly interdependent. Moreover, the IRFs enables us to simulate the response in freight to a shock in the USD/JPY exchange rate, Dow Jones industrial average index, Dow Jones volatility, Chinese Import volatility. The result on the cointegration test show that the hypothesis of no cointergrating vector could be rejected at the 5 percent level. Also, the empirical analysis of cointegrating vector reveals that the increases of USD/JPY exchange rate have negative relations with freight. The result on the impulse-response analysis indicate that freight respond negatively to volatility, and then decay very quickly. Consequently, the results highlight the potential usefulness of the multivariate time series techniques accounting to behavior of Freight.

A Study on the Korean Companies' Entry Strategy in China Logistics Market (한국기업의 중국 물류시장 진출전략에 관한 연구)

  • Choi, Seok-Beom
    • International Commerce and Information Review
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    • v.11 no.2
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    • pp.83-110
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    • 2009
  • China's logistics industry is an growing one at a very higher rate, owing to the rapid expansion of the country's industrial base and the rise of domestic consumer markets. Essential to the development of china's economy, policy makers have paid constant attention to the logistics sector which is attracting growing volumes of both foreign and domestic investment. The inefficiencies are exacerbated by a number of factors such as transportation bottlenecks, regulatory constraints and local barriers to entry. Foreign and foreign-invested logistics companies have typically cornered the express delivery (for example DHL, FedEX), sea freight forwarding and specialized logistics services (for example Hanjin Shipping). The purpose of this paper is to contribute to the activation of Korean companies' entry into China's logistics market by studying the strategies and types for Korean companies enter into China's logistics Market.

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An Empirical Study on e-Logistics of Port & Logistics industry (항만물류산업의 e-Logistics 실증연구)

  • 조소희;허윤수;남기찬
    • Proceedings of the Korean Institute of Navigation and Port Research Conference
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    • 2004.04a
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    • pp.365-370
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    • 2004
  • At the present, e-commerce takes the place of existing transaction form in structure in the world trade by advancement of Information Technology and diffusion of Internet. There is no exceptions of this tendency even in industry of maritime and logistics. So, global shipping lines and logistics companies try to construct the e-Business network system for increasing their competitiveness in an are of cyber. However, in Korea, most of companies prefer "final handshake" as the traditional way of transaction to "e-commerce", because they bear a distrust in mind about the outflow of transaction information and security of settlement. So, number of companies using e-commerce is very small, and this situation causes the limited factor for activating the transaction structure of it. The rate of using e-commerce in logistics industry is lower than other industries, even more higher effectiveness is expected when they use it. Especially, it is very necessary not only e-commerce but also e-Logistics which can serve information of freight cost on cargo flow, operation cost and schedule, and tracing information of cargo. Increasing the necessity of e-Logistics, this study research the rate rf using e-Logistics focused on maritime and logistics companies, and analyze the transaction form among members of these industries for improving them. In detail, this paper examine the drivers for activating e-Logistics, and present the effective factors for a successful development of these industries.

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The Steel Coil Loading and Placement Automation System Development (철강 코일의 선적 및 배치 자동화 시스템 개발)

  • Sang-Hyun, Kim;Woo, Lee;Seung-Hong, Oh;Ju-Wan, Lee;Min-Woo, Son;Won-Jung, Kim
    • The Journal of the Korea institute of electronic communication sciences
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    • v.17 no.6
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    • pp.1259-1266
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    • 2022
  • Stowage planning is an essential process for safe loading by establishing, agreeing on, and systematically implementing a reasonable loading and securing method based on information on cargo, loading/unloading and the ship. In addition, depending on the plan, there may be a difference of about 14% or more in the loading amount per ship, which causes a tolerance rate and leads to an increase in sea freight charges. In this study, work environment and process standards for steel coil shipment, and classification regulations and guidelines related to steel coil shipment were analyzed. In addition, we developed a steel coil loading and placement automation system that derives an optimal loading plan through performance data-based shipping balancing and stability analysis.

Joint Price and Lot-size Determination for Decaying Items with Ordering Cost Inclusive of a Freight Cost under Trade Credit in a Two-stage Supply Chain (2 단계 신용거래 공급망에서 운송비용이 포함된 주문 비용을 고려한 퇴화성제품의 재고정책 및 판매가격 결정 모형)

  • Shinn, Seong-Whan
    • The Journal of the Convergence on Culture Technology
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    • v.6 no.2
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    • pp.191-197
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    • 2020
  • As an effective means of price discrimination, some suppliers offer trade credit to the distributors for the purpose of increasing the demand of the product they produce. The availability of the delay in payments from the supplier enables discount of the distributor's selling price from a wider range of the price option in anticipation of increased customer's demand. In this regard, we consider the problem of determining the distributor's optimal price and lot size simultaneously when the supplier permits delay in payments for an order of a product whose demand rate is represented by a constant price elasticity function. It is assumed that the distributor pays the shipping cost for the order and hence, the distributor's ordering cost consists of a fixed ordering cost and the shipping cost that depend on the order quantity. For the analysis, it is also assumed that inventory is depleted not only by customer's demand but also by decay. We are able to develop a solution algorithm from the properties of the mathematical model. A numerical example is presented to illustrate the algorithm developed.

Software Development for Optimal Productivity and Service Level Management in Ports (항만에서 최적 생산성 및 서비스 수준 관리를 위한 소프트웨어 개발)

  • Park, Sang-Kook
    • Journal of Navigation and Port Research
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    • v.41 no.3
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    • pp.137-148
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    • 2017
  • Port service level is a metric of competitiveness among ports for the operating/managing bodies such as the terminal operation company (TOC), Port Authority, or the government, and is used as an important indicator for shipping companies and freight haulers when selecting a port. Considering the importance of metrics, we developed software to objectively define and manage six important service indicators exclusive to container and bulk terminals including: berth occupancy rate, ship's waiting ratio, berth throughput, number of berths, average number of vessels waiting, and average waiting time. We computed the six service indicators utilizing berth 1 through berth 5 in the container terminals and berth 1 through berth 4 in the bulk terminals. The software model allows easy computation of expected ship's waiting ratio over berth occupancy rate, berth throughput, counts of berth, average number of vessels waiting and average waiting time. Further, the software allows prediction of yearly throughput by utilizing a ship's waiting ratio and other productivity indicators and making calculations based on arrival patterns of ship traffic. As a result, a TOC is able to make strategic decisions on the trade-offs in the optimal operating level of the facility with better predictors of the service factors (ship's waiting ratio) and productivity factors (yearly throughput). Successful implementation of the software would attract more shipping companies and shippers and maximize TOC profits.

Spatial Structure of Hinterlands and Forelands of Pusan Container Export Port: the Cases of 3 National Flag Carriers (부산 컨테이너 수출항의 배후지와 지향지의 공간구조)

  • Cho, Su-Kyung
    • Journal of the Korean Geographical Society
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    • v.28 no.3
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    • pp.247-267
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    • 1993
  • According to developing international economy since the World War II, the increase and competition of the national business is so empha-sized tht both the interest and the necessity about marine transportation playing the impor-thant role of international transportation are increased. Today, the container transportation, as called the innovation of marine transport has been prevailed since the 1970's. The purpose of this paper is to grasp the spatial structure of the hinterlands and forelands, its object is export container cargo at Pusan Export Port, as known for the transportation node of modern containerlization. In this study, for the purpose of grasping the relation between hinterlands and forelands of Korean export container cargo, first, I researched the transition of carloading about container cargo, the bistribution channel of cargo, the change of the items of container and the carlo-adings about transport route, secondly, I used the cluster analysis so as to group hinterlands according to the items of goods and forelands. The object of the analysis is container cargo of Choyang Line, Hanjin Shipping and Hyundai Merchant Marine of National Frag Carriers. The source materials used in this study are Trucking Data of Hanjin Co., Container Ren-tal Data of Samik Transport Co. and Transpor-ting Present Condition Tables of Hyundai Mer-chant Marine. 1. There are two kinds of the transport classi-fied by its form: FCL and LCL. In Pusan Con-tainer Export, a lot of textile goods, clothings and furniture, compound, electric goods, and so on are dealed with but the rate of occupation of the transport is getting lower while that of occupation of equipment, papers and agricultu-ral, mineral and livestock industry higher. 2. In 1990, the transports of container cargo in Korea consist of 7 services and round-the world lines. We can list North America lines, East-South Asian lines, Japan lines and Inter European lines, in order of the quantity of tran-sport form the largest to the smaller. We can have another list that Japan lines, North Ame-rica lines and East-South lines in order of the rate participation of national flag carriers, be-cacuse Korean foreign trade lay disproportionate emphasis on East-South Asian lines. Japan lines among them is the biggest import-export market. Since the rationlization policy of marine tran-sport in 1984, each of national flag carriers have its own lines. Hanjin Shipping predominates over North America lines, Choyang Line over New Zealand, Inter European and Austria lines and Hyundai Merchant Marine over Center-South America lines, in terms of the volume of transport. And small-to-medium sized shippers are prevailing in lines which are adjacent to Korea, Such as Japan lines and East-South Asian lines. 3. In relation to hinterlands and forelands of Choyang Line, the light industry goods, electric goods and machinary produced in Seoul and Pusan are exported to the major ports in Europe and Japan, the same produces in Suwon, Ulsan, Kumi are exported to European Ports, and those in Incheon and Kwangju Austrian and Japanese ports, and those in the rest regions to the major port in Japan. 4. In relation to hinterlands and forelands of Hanjin Shipping, the light industry goods pro-ducing in Seoul and Pusan, the electric goods and machinary in Incheon and Pyeongteck, are exported to New York and Los Angeles. Electric goods and machinary Masan, Anyang, Cheona, Cheongju and Incheon, Electric goods machinary and light industry goods in Kwangju and non mental goods in Pohang, are exported New York, Los Angeles and Oakland. 5. In relation to hinterlands and forelands of Hyundai Merchant Marine, the region of Seoul, Pusan and Incheon closely related with the main ports in U.S.A. The rest regions with Montreal. The hinterlands of export container cargo can be classified by its export items into three kinds: the large city, industrial city and the rest city. Choyang Line's forelands are European lines, Japan lines and Austria lines, and Hanjin Shipping's forelands are North America lines, and Hyundai Merchant Marine's forelands are North America lines and Japan line. 3 National flag carriers' major forelands are determined by the size of port and the shipper's convenient use of the port terminal.

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A Study on Atmospheric Dispersion Pattern of Ship Emissions - Focusing on Port of Busan (선박 배기가스의 대기확산 패턴에 관한 연구 - 부산항을 중심으로)

  • Lee, Min-Woo;Lee, Hyang-Sook
    • Journal of Korea Port Economic Association
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    • v.34 no.1
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    • pp.35-49
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    • 2018
  • Busan Port handles more than 75% of the domestic freight volume and is ranked at 6th for global shipping in the world. This paper aims to estimate ship emission in North Port that is the center of Busan Port and located near the residential area. The emission for each type of ship is calculated applying a emission model proposed by U.S. EPA and the atmospheric diffusion pattern of the exhaust gas according to the season, the weather condition and the time was identified using CALPUFF Model. As a result, the major pollutants of $NO_x$, $SO_x$ and PM10 were 30,853 tons, 36,281 tons and 6,856 tons, respectively, and the highest rate was 42% in oil tankers. On clear days, air pollution was stagnant around the harbor, spread widely on windy days, and tended to be thinner on rainy days. The research contributes to recognizing the seriousness of air pollution and can be used as basic data for policy making in the future.

An Analysis of the International Transportation Route at the Sight of Wind Power Equipment Manufacturing Company (풍력발전부품 제조업체의 관점에서 본 국제 운송경로 분석)

  • Yun, Seok-Hwan;Park, Jin-Hee
    • Journal of Navigation and Port Research
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    • v.39 no.4
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    • pp.361-370
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    • 2015
  • Wind energy began to receive attention as a new alternative fuel since 20 years ago and is growing as a booming global business model. Global wind power generation in the world has been continuously increasing for the past 10 years, accounting for over 30% of cumulative rate compared to total power generation. Global demand for wind power generation is gradually expanding due to restriction on carbon emission and environmental problems caused by increased greenhouse effect. Accordingly in this study, current transportation routes are classified into three types including access-priority route, economics-priority route, and convenience- priority route depending on distribution characteristics of wind power equipment in order to suggest transportation methods other than ships. The three types of transportation route that this study declared can make the Wind power equipment manufacturing companies can judge not only the duration of transportation but also effectiveness and economic feasibility. It means that the manufacturers can analyze and compare the effectiveness and economic feasibility, which are proceed by the shipping company and freight forwarder until now days.

A Comparative Analysis of the Forecasting Performance of Coal and Iron Ore in Gwangyang Port Using Stepwise Regression and Artificial Neural Network Model (단계적 회귀분석과 인공신경망 모형을 이용한 광양항 석탄·철광석 물동량 예측력 비교 분석)

  • Cho, Sang-Ho;Nam, Hyung-Sik;Ryu, Ki-Jin;Ryoo, Dong-Keun
    • Journal of Navigation and Port Research
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    • v.44 no.3
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    • pp.187-194
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    • 2020
  • It is very important to forecast freight volume accurately to establish major port policies and future operation plans. Thus, related studies are being conducted because of this importance. In this paper, stepwise regression analysis and artificial neural network model were analyzed to compare the predictive power of each model on Gwangyang Port, the largest domestic port for coal and iron ore transportation. Data of a total of 121 months J anuary 2009-J anuary 2019 were used. Factors affecting coal and iron ore trade volume were selected and classified into supply-related factors and market/economy-related factors. In the stepwise regression analysis, the tonnage of ships entering the port, coal price, and dollar exchange rate were selected as the final variables in case of the Gwangyang Port coal volume forecasting model. In the iron ore volume forecasting model, the tonnage of ships entering the port and the price of iron ore were selected as the final variables. In the analysis using the artificial neural network model, trial-and-error method that various Hyper-parameters affecting the performance of the model were selected to identify the most optimal model used. The analysis results showed that the artificial neural network model had better predictive performance than the stepwise regression analysis. The model which showed the most excellent performance was the Gwangyang Port Coal Volume Forecasting Artificial Neural Network Model. In comparing forecasted values by various predictive models and actually measured values, the artificial neural network model showed closer values to the actual highest point and the lowest point than the stepwise regression analysis.