• Title/Summary/Keyword: Shipping company

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Analysis of Financial Ratios of the Korean Coastal Passenger Shipping Company and Proposal for Improving their Business Performances (한국 연안여객선업체의 재무상태 분석과 경영개선 방안)

  • 노창균
    • Journal of the Korean Society of Marine Environment & Safety
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    • v.8 no.1
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    • pp.1-14
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    • 2002
  • This paper discusses the analysis of financial ratios of the Korean coastal passenger shipping company 1997 and 2000. Coastal passenger shipping company shows a very high ratio of the fixed-assets because these shipping company own relatively expensive ships. The current debts are composed of short-term borrowings and lease and the ratio of the current debts is rather high considering to the size of shipping company. The equity ratio of passenger shipping company has recently been decreased, but the debt ratio has been increased. Both the profitability and activity ratios have grown worse in recent years. In order to improve the performance of coastal passenger shipping company, they should develop the leisure facilities and good items to attract travellers.

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An Empirical Study on the Determinants of the Debt Repayment Capability of Shipping Firms in Recession

  • Lee, Dong-Hae;Lee, Ki-Hwan;Kim, Myoung-Hee
    • Journal of Navigation and Port Research
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    • v.44 no.5
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    • pp.414-422
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    • 2020
  • In this study, an empirical analysis of 55 ship finance cases executed by a specific ship finance bank from 2009 to 2016 during the recession period was conducted. The purpose of this study was to find the factors affecting changes in the debt performance of Korean shipping companies. The main factors were the loan nature (investment purpose, loan-to-value (LTV), syndicated loans, loan terms, put-option, balloon, and spread), financial nature (total assets turnover, net profit-to-sales ratio, debt ratio, quick ratio, total borrowing, bonds payable to total assets, interest expenses-to-sales ratio, debt service coverage ratio (DSCR), and total assets), and the company nature (company age, chief executive officer's (CEO's) shares, and listing status). In this study, the factors affecting the debt repayment capability of domestic shipping companies (loan nature, financial nature, and company nature) were verified. The credit rating was used to measure the dependent variable, debt repayment ability. The variables of investment purpose, put-option, balloon, and spread in the loan nature, debt ratio in the financial nature, and the CEO's shares and company age in the company nature were found to be significant.

The Effects of Logistics Competence in Korea Overseas Shipping Industry (국제해상운송업의 물류경쟁력 영향요인)

  • 박영근;공덕암
    • Journal of Korea Port Economic Association
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    • v.21 no.1
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    • pp.45-58
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    • 2005
  • The purpose of this study is to consider the problem on pursuit of logistics strategy by our international shipping company in international shipping business under the said circumstance due to the open international shipping market and to suggest the logistics strategy for the consideration of the logistics competition under new international shipping circumstances. The results of empirical analysis are mentioned as follows; First, it shall be considered to maintain the size of company bigger than a certain capability so that it may obtain the superior competition of logistics. Second, as there are the plus correlations between the competition of logistics and the logistic support, it is necessary to pursuit the upgrade service with using EDI system and making up the complex shipping and integrated logistics system in general. Third, with the rationalization of finance policy and the profitable management of shipping company the ratio of net worth can be raised and it can be achieved to make the sound financial structure as reducing the excessive debt ratio. Fourth, it can be effort continuously to perform the investment for the infrastructure of logistics support & the institutional supplement so that it may achieve to increase the efficiency of logistic support at pier and to reduce the cost of logistic support.

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An Empirical Study on the Effects of the Internal Company Factors and External Environment Factors on the Usage Level and Performance of Electronic Commerce in the Shipping Companies - Primarily on the Liner Shipping Business - (해운기업의 내.외부환경요인이 전자상거래 활용수준과 성과에 미치는 영향에 관한 실증연구 - 정기선해운영업을 중심으로 -)

  • Cho Kyung-Woo
    • Journal of Navigation and Port Research
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    • v.30 no.6 s.112
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    • pp.483-489
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    • 2006
  • The purpose of this study is to suggest logical foundation and points which are necessary for establishing E-commerce cf Korean shipping companies' development strategy and activation plan. In order to do empirical analysis, two step analyses are adopted. Firstly, this study examines the effects of the shipping company character and the shipping environment character on the usage of E-commerce in the shipping companies. Secondly, this study examines the effects of usage of E-commerce on the performance in shipping companies. In the empirical analysis, research hypotheses are being tested mainly by a structural equation model(SEM).

An Empirical Study on the Effects of the Internal Company Factors and External Environment Factors on the Usage Level and Performance of Electronic Commerce in the Shipping Companies- Primarily on the Liner Shipping Business - (해운기업에 있어서 기업내부요인 및 외부환경요인이 전자상거래 활용수준과 성과에 미치는 영향에 관한 실증연구 - 정기선해운영업을 중심으로 -)

  • Cho Kyung-Woo
    • Proceedings of the Korean Institute of Navigation and Port Research Conference
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    • 2006.06b
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    • pp.259-264
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    • 2006
  • The purpose of this study is to suggest logical foundation and points which necessarily for establishing E-commerce of Korean shipping companies' development strategy and activation plan. In order to empirical analysis, two step analyses are adopted. Firstly, this study examines the effects of the shipping company character and the shipping environment character on the usage of E-commerce in the shipping companies. Secondly, this study examines the effects of usage of E-commerce on the performance in shipping companies. In the empirical analysis, research hypotheses are being tested mainly by a structural equation model(SEM).

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An Empirical Study on the Impacts of Electronic Information Sharing on Performance between Shipping Company and Container Terminal (해운회사와 컨테이너터미널 간 전자적 정보공유가 성과에 미치는 영향)

  • Choi, Jong-Ick;Chang, Myung-Hee
    • Journal of Navigation and Port Research
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    • v.31 no.8
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    • pp.741-750
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    • 2007
  • The purposes of the study are as follows; First, to find out valid variables from preceding studies which expedite and revitalize the electronic information sharing between shipping company and container terminal and (to) verify the effect empirically. Second, to examine the impacts of electronic information sharing between shipping company and container terminal on performance by empirical research. The results are as follows; First, the degree of support by the CEO, the stage of information technology infrastructure, committment and dependence were proved as valid factors affecting the electronic information sharing between shipping company and container terminal. Second, it was proved that the electronic information sharing between shipping company and container terminal has influenced on the performance.

Stress Test on a Shipping Company's Financial Stability (스트레스 테스트를 활용한 해운기업 안정성 연구)

  • Park, Sunghwa;Kwon, Janghan
    • Journal of Korea Port Economic Association
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    • v.39 no.2
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    • pp.97-110
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    • 2023
  • This study examines the effect of macroeconomic shocks on the financial stability of the Korean shipping industry. Using Firth logistic regression model, this study estimates the default probability of a shipping company. The results from a default prediction model suggest that total assets are negatively correlated with default probability, while total debt is positively correlated with default probability. Based on the results from a default prediction model, this study investigates the effect of macroeconomic shocks, namely total assets, sales, and total debt shocks, on a shipping company's default probability. The stress test results indicate that a decrease in sales and total assets significantly deteriorates the financial stability of a shipping company.

Quantitative Analysis for the Efficient Control of Empty Container Flow (공컨테이너의 효율적 관리를 위한 계량적 분석)

  • Oh, Y. T.;Shin, J. Y.
    • Journal of Korean Port Research
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    • v.10 no.2
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    • pp.51-59
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    • 1996
  • The management of liner shipping company is an extremely complex activities, especially if a company aims to simultaneously optimize the cost and service of the company's operations in a competitive environment. This paper investigates the control process of containers in a typical container liner shipping and proposes day by day operational model for empty container control in the maritime container transportation system. We proposed a linear programming model for empty container control in container liner shipping and the computational results show utilities of the model.

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A Study on the International Competitiveness of the Korea Liner Shipping Commany (우리나라 정기선사의 국제경쟁력에 관한 연구)

  • Lee, Jae-Kyu
    • Korean Business Review
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    • v.11
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    • pp.365-384
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    • 1998
  • Under the rapid change of the world shipping industry, the liner shipping company in Korea should initiate the adaptation power, counterplot for survival, and continuous development. The world shipping industry is in the middle of the wave for the liberalization and openness of it. According to this change in world shipping industry, it is the fact that government policy for shipping industry should start turning its direction from the protectionism to the liberalism. Under this kinds of situations, this study firstly treated the liner shipping company and its governmental policy of Korea and Japan. Based on those studies, analysis of the liner shipping company operation and management reality was executed. Through the execution of studies, the problems which should be solved for development occurred. Furthermore, this thesis takes two way of researches of literature and actual proof for reinforcement plan of international competitiveness. This standard time period of study is set in 1993 except the irregular liner shipping company.

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