• Journal of the Korean Society of Marine Environment & Safety
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• v.9 no.1
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• pp.1-15
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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 maritime 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 Korea shipping companies the most proficient way in compliance with the current Tokyo MOU requirement.

• Journal of Advanced Marine Engineering and Technology
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• v.40 no.5
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• pp.418-428
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• 2016

In this study, a Vessel Shore Report Management System (VSRMS) is developed for the International Maritime Organization (IMO), Maritime Service Portfolio (MSP) Number 8, which comprises vessel shore reporting. Several documents have to be completed before the arrival/departure of a vessel at a port, as each national port has its own reporting format and data. The present vessel reporting system is inefficient, time-consuming, and involves excessive paperwork, which results in duplications and errors. To solve this problem, in this study, the vessel reporting formats and data contents of various national ports are investigated, as at present, the reporting documents required by the current IMO standard includes insufficient information which is requested by national ports. Initially, the vessel reporting information of various national ports are collected and analyzed. Subsequently, a database structure for managing vessel reporting data for ports worldwide is devised. To make the transfer of data and the exchange of information of vessel reports much more reliable, efficient, and paper-free, VSRMS, which is a software application for the simplification and facilitation of vessel report formalities, is developed. This application is developed using the latest Microsoft C#.Net Programming Language in the Microsoft Visual Studio framework 4.5. It provides a user interface and a backend MySQL server used for database management. SAP Crystal Reports 2013 is used for designing and generating vessel reports in the original report formats. The VSRMS can facilitate vessel reporting and improve data accuracy through the reduction of input data, efficient data exchange, and reduction of the cost of communication. Adoption of the VSRMS will allow the vessel shore reporting system to be automated, resulting in enhanced work efficiency for shipping companies. Based on this information system and architecture, the consensus of various international organizations, such as the IMO, the International Association of Marine Aids to Navigation and Lighthouse Authorities (IALA), the Federation of National Associations of Ship Brokers and Agents (FONASBA), and the Baltic and International Maritime Council (BIMCO), is required so that vessel reporting is standardized internationally.

• The Journal of Information Systems
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• v.10 no.1
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• pp.51-72
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• 2001

E-commerce has not only brought about a great change in the way we exchange goods and services but also revolutionized the way we handle business transactions. In addition, it has a significant influence upon the present business structure, and most of firms in service industry as well as manufacturing are considering adopting E-commerce in a serious manner. Most vessels purchase merchandises through a number of shipping agents. As the amount of harbor materials increase, the number of vessels and their navigation frequency also increase. As a result, the amount of procurement for ships has increased. Traditional means such as telephone and fax to handle ever-increasing harbor transaction, however, has proved to be very time-consuming and cost ineffective. Therefore, people are starting to look for more effective ways. In this paper, an internet-based scheme of B2B transaction is proposed to handle procurement problem between shipping agency and shipping company, and between vessel and suppliers as a more effective approach to streamline such problems. We extract problems of shipping agency through task-analysis and present a scheme that performs decision making and procurement as a system agent with brokering structure. Purchaser and supplier are offered material information rapidly and task loads are minimized by the scheme. Also, the system can support decision making of purchasing goods, and information is shared among purchaser, supplier and system through the system interface.

• Journal of Navigation and Port Research
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• v.37 no.5
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• pp.519-526
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• 2013

In managing shipping business, the concept of seaworthiness of the vessel has developed in accordance with the development of the shipping industry. However, despite of the development of the vessel's seaworthiness, marine accident has continuously occurred at sea. International Maritime Organization(IMO) has paid attention to the research and investigation of Human Error in shipping operations in addition to physical seaworthiness of the vessel. In 1994, IMO adopted the "International Management Code for the Safe Operation of Ships and for Pollution Prevention(ISM code)" of "SOLAS 1974" Annex, to take countermeasure against this human error. In 1999, Korea adopted the 'ISM Code' and then enacted the Maritime Safety Act (previously Maritime Traffic Safety Act). The Maritime Safety Act regulates necessary qualifications of the Human Resources of shipping companies for establishment and implementation of the safety management system. However, there has been a discrepancy between shipowners and ship management companies in interpreting the legislative texts, finally causing confusion. In this paper, I would like to examine the deficiencies in the regulation on the standard of qualifications of the Designated Person under the Maritime Safety Act and thereby suggest any possible improvements in it.

• Journal of Navigation and Port Research
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• v.43 no.1
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• pp.72-78
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• 2019

The second-hand ship market provides immediate access to the freight market for shipping investors. When introducing second-hand vessels, the precise estimate of the price is crucial to the decision-making process because it directly affects the burden of capital cost to investors in the future. Previous studies on the second-hand market have mainly focused on the market efficiency. The number of papers on the estimation of second-hand vessel values is very limited. This study proposes an artificial neural network model that has not been attempted in previous studies. Six factors, freight, new-building price, orderbook, scrap price, age and vessel size, that affect the second-hand ship price were identified through literature review. The employed data is 366 real trading records of Panamax second-hand vessels reported to Clarkson between January 2016 and December 2018. Statistical filtering was carried out through correlation analysis and stepwise regression analysis, and three parameters, which are freight, age and size, were selected. Ten-fold cross validation was used to estimate the hyper-parameters of the artificial neural network model. The result of this study confirmed that the performance of the artificial neural network model is better than that of simple stepwise regression analysis. The application of the statistical verification process and artificial neural network model differentiates this paper from others. In addition, it is expected that a scientific model that satisfies both statistical rationality and accuracy of the results will make a contribution to real-life practices.

• The Journal of shipping and logistics
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• v.27 no.4
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• pp.719-746
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• 2011

This study attempted to analyse the results of investments from each individual ship investment company(SIC) in Korea which is operating under its ship investment company system. We analyzed investment result of ship investment company by means of Market Adjusted Return Method for measurement of abnormal return(AR) and cumulative abnormal return(CAR). Some implications from the results of this study are suggested. First, we find that the initial abnormal return of IPO, 30-day CAR and long-term CAR are not significantly different between A and B shipping fund management company. And then, the initial abnormal return of IPO and long-term CAR are not significantly different between newbuilding and secondhand ship SIC. But the 30-day CAR is significantly different between newbuilding and secondhand vessel SIC. Third, the 30-day CAR and long-term CAR are not significantly different between newbuilding and secondhand vessel SIC. But the 30-day AR is not significantly different between container and non-container ship SIC. Finally, newbuilding ship SCI is more stable than secondhand vessel SIC, and container ship SIC is more stable than non-container ship SIC in 3-month cumulative return over the past two and half years, from February 2008 to July 2011.

• Journal of Navigation and Port Research
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• v.37 no.2
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• pp.181-186
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• 2013

In a corporate financing, the decision of optimal capital structure is becoming more critical issues and still remaining a problem to be solved though many of researcher have studied. Particularly, shipping companies need a huge amount of capital finance for new vessel's capacity and then they are considering what is the best capital structure. In this point of view, this study tries to investigate the determinants of debit maturity structure focused on the Korean shipping industry. As results of panel regression analysis, firm size, liquidity, chance of growth, good cash flow are major determinants of debit expiration structure in the Korean shipping companies.

• Proceedings of the Korean Institute of Navigation and Port Research Conference
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• 2022.06a
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• pp.333-335
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• 2022

The changes caused by the 4th industrial revolution are accelerating the convergence of technologies due to the COVID-19 Pandemic. As a result, rapid changes are expected in various fields of society and industry. The shipping and logistics industry is also in urgent need of smartization due to changes in environment and technology. However, in the case of Korea, the smartization of shipping and logistics technology is insufficient compared to that of advanced countries. For smartization for complex business processing with many related entities, smooth communication and visual confirmation using the latest technologies are becoming important. Such visualization and communication will become more important in smart shipping and logistics This study intends to present an integrated communication tool between self-driving ships and container terminals for the realization of smart shipping and logistics. In particular, a study was conducted on the development of a digital twin-based communication tool that satisfies the requirements of ship berthing and loading/unloading operations in which various actors participate and process complex tasks.

• Proceedings of the Korean Institute of Navigation and Port Research Conference
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• 2014.06a
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• pp.81-83
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• 2014

In recent years, owing to the irregular weather changes in the sailing vessels are needed for marine meteorological environmental counter measures. Marine meteorological monitoring system, information about these marine weather environments in real time around the coast by collecting a provides real time shipping and marine transportation safety is a system for. .. Long marine facilities marine observation sensors cover the routes developed by installing marine meteorological monitoring system, build management, and vessel safety is giving much help to navigate. The further development of the marine meteorological monitoring system analyzes the situation both at home and abroad, in order to study the safety of the vessel in navigable and marine accidents because the prevention and optimal marine meteorological monitoring system regarding the future development plan for discussion.

• The Journal of the Korea institute of electronic communication sciences
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• v.11 no.11
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• pp.1025-1030
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• 2016

The big problem of accidents at sea is negligent watch, it causes collision, fender bender, stranding, rollover, and sinking of fishing vessel. Most accidents happens without an eyewitness, it is difficult to identify the cause of the accident. VDR(: Voyage Data Recorder) is needed to identify a cause of the accident, the VDR is not usually used for fishing vessel because of high cost. Thus, this paper designs and develops a VDR system for fishing vessel. If the system is used, cause of a sea accident can be quickly identified. Also, a VDR system can be used for appropriate measures to fix a cause of the accident. Finally, it also can be helpful to prevent maritime accidents.