• Journal of Korea Port Economic Association
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• v.39 no.3
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• pp.123-140
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• 2023

Maritime transportation is one of the oldest means of transportation utilized by mankind, and it has significantly contributed to the advancement of civilization by efficiently transporting bulk cargo at a low cost. The study aim to identify the factors influencing the selection of shipping companies in the bulk shipping market and provide insights for improving the competitiveness of shipping-related companies. To achieve this goal, the Analytic Hierarchy Process (AHP) was employed. For the empirical analysis, previous research, interviews, and a pilot test were conducted to identify five top-level factors such as companies, vessels, operations, services, and transaction factors. Each top-level factor has four sub-factors. The results of the analysis, based on 80 valid questionnaires, are as follows: Firstly, in the selection of shipping companies, the priority of factors influencing the choice of shipping companies was as follows: vessel factors were the most important, followed by company, operations, relationship, and service factors. Secondly, when investigating the priority of sub-factors, the availability/appropriateness of vessels was the most crucial factor, followed by company characteristics, financial soundness, and the company's reputation in order. The implications of these findings suggest that shipowners should focus on securing more suitable vessels and enhancing their reputation in response to shippers' demand. Shippers, on the other hand, should consider maintaining a healthy financial structure as a crucial task in securing competitive shipping service providers.

• The Journal of shipping and logistics
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• v.34 no.4
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• pp.615-635
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• 2018

Using data from 2008 to 2017, this study analyzed the financial characteristics of offshore freight shipping companies in Korea, categorized by vessel type, and their impact on business performance. The analysis showed an upward trend in the overall debt ratio of offshore freight transport companies and differences in the financial characteristics of each vessel type as well as the major factors affecting business performance. In particular, the significant factors affecting the ROA performance of the business are the size of business and debt ratio in the LPG line; the growth rate in the bulk line; the size of business, debt ratio, and year in the general freight line; and the size of business, growth rate, entertainment expense rate, debt ratio, and year in the full container line. Therefore, each shipping company needs to recognize differences in key financial factors affecting its performance based on vessel type, implement proactive measures, and diversify its vessel portfolio.

• Journal of Navigation and Port Research
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• v.36 no.4
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• pp.291-298
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• 2012

Working onboard large ocean-going vessels is one of many industries that is by its very nature extremely error-provoking. In industries such as aviation, nuclear power, healthcare and transport, the need for mental preparedness and professionalism are amongst the qualities essential for the management of complex hazardous systems. Recruiting, training, and more importantly retaining the right people to work in these industries is of paramount importance if safety is to be continuously improved and economic benefits realized. Through consideration of extant empirical literature this paper will explore the need for enhancing collaboration between shipping companies and maritime training insitutes in order to provide the industry with those most capable for the job. It will be concluded that by providing a strong maritime foundation from the outset of training, maritime academies in South Korea can provide shipping companies with a wealth of highly qualified, motivated officers who will contribute to safety and remain valuable assets within the industry for years to come.

• Proceedings of the Korean Institute of Navigation and Port Research Conference
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• 2012.06a
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• pp.35-37
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• 2012

Working onboard large ocean-going vessels is one of many industries that is by its very nature extremely errorprovoking. In industries such as aviation, nuclear power, healthcare and transport, the need for mental preparedness and professionalism are amongst the qualities essential for the management of complex hazardous systems. Recruiting, training, and more importantly retaining the right people to work in these industries is of paramount importance if safety is to be continuously improved and economic benefits realized. Through consideration of extant empirical literature this paper will explore the need for enhancing collaboration between shipping companies and maritime training institutes in order to provide the industry with those most capable for the job. It will be concluded that by providing a strong maritime foundation from the outset of training, maritime academies in South Korea can provide shipping companies with a wealth of highly qualified, motivated officers who will contribute to safety and remain valuable assets within the industry for years to come.

• Journal of Navigation and Port Research
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• v.27 no.5
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• pp.557-562
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• 2003

As competition between companies increases in the international market, a stronger Management Information System that can support all areas of the business is needed According to this trend, more and more companies are introducing Enterprise Resource Planning(ERP) to construct a Management Information System In this study, ERP module composition direction suitable for shipping companies were proposed through theoretical review and case studies.

• Proceedings of the Korean Institute of Navigation and Port Research Conference
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• 2022.11a
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• pp.334-335
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• 2022

Among domestic car carrier operating shipping companies, some shipping companies are operating a stowage planning system that is installed and executed on a computer, and most shipping companies are executing stowage plans with documents such as Excel. This is a study on how to utilize web service technology so that multiple users can use the planning system more efficiently in the cargo stowage planning process for car carriers.

• Journal of Navigation and Port Research
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• v.44 no.4
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• pp.326-337
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• 2020

Shipping companies have suffered additional losses because of irrational shipping finance decisions. This paper analyses the cases according to the behavioral finance theories. The theories of behavioral finance used in the analysis and research of this paper are the anchoring effect and sunk cost effect. The backgrounds and reasons for the decisions regarding ship financing are analysed based on the questionnaire responses and case studies. As a result of the analysis, it is found that the behavioral finance theories, anchoring effect, and sunk cost effect, have effects on the ship financing decisions, that errors related to behavioral finance can result in irrational decisions, and that shipping companies suffered additional losses because of the behavioral finance errors.

• Journal of Navigation and Port Research
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• v.38 no.3
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• pp.307-315
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• 2014

This paper aims to empirically examine how shipping companies can effectively acquire knowledge from their strategic alliance partners. This paper adopts cooperative network embeddedness mechanism, such as network density and tie closeness, as a channel through which to acquire more knowledge for shipping participants within a strategic alliance network. This study also examines the moderating role of competition between alliance partners in reinforcing the effectiveness of the cooperative relationships on the knowledge acquisition. Based on the literature, hypotheses to predict the aforementioned associations between cooperative network embeddedness and knowledge acquisition and the moderating role of competition in facilitating that association are established. A quantitative research method using survey data conducted in the Korean shipping industry was employed in order to empirically test the presented hypotheses. The results show that if players in a shipping alliance network are embedded in a dense network and have close relationships with their alliance partners, this helps to facilitate a greater degree of knowledge acquisition from the partners; and the impact of network density on the knowledge acquisition would be intensified with the higher level of competition between shipping companies.

• Journal of Navigation and Port Research
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• v.34 no.7
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• pp.595-601
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• 2010

This paper aims to diagnose the strategy execution ability and to provide corresponding measures for Korean oceanic shipping companies. The analysis method is the t-test between importance awareness and Corresponding ability for strategy execution diagnosis index(XPP). According to the diagnosed results, the strategy development is unsatisfactory because the strategy implemented does not adhere to concurrent environmental change. Moreover, the execution of the strategy is also unsatisfactory. Therefore, an evaluation shows that there is a need for a SWOT analysis using BSC, an organization structure to strengthen the strategy execution ability and the support from the market condition analysis prediction center.

• Proceedings of the Korean Institute of Navigation and Port Research Conference
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• v.29 no.1
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• pp.457-463
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• 2005

The use of the internet to facilitate commerce among companies promises vast benefits. Lots of e-marketplaces are building for several industries such as chemistry, airplane, and automobile industries. This study proposed new B2B EC business model for the shipping industry which concerns relatively massive fixed assets to be fully utilized. To be successful the proposed model gives participants to support useful information. To do this the expert system is constructed as the hybrid prediction system of neural network (NN) and memory based reasoning (MBR) with self-organizing map (SOM) and knowledge augmentaton technique using qualitative reasoning (QR). The expert system supports participants useful information coping with dynamic market environment. with this transportation companies are induced to participate in the proposed e-marketplace and helped for exchanges easily. Also participants would utilize their assets fully through B2B exchanges.