• The Journal of The Korea Institute of Intelligent Transport Systems
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• v.17 no.5
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• pp.100-116
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• 2018

Recently, with the US protection trade trend, South Korea 's exports to the US have shrunk and the need to pioneer emerging markets in Eurasia has increased. Due to the bankruptcy of Hanjin Shipping, a large Korean national shipping company, the necessity of securing transportation that can replace the Asian - European shipping route has emerged. Moreover, as the international trade and logistics environment is rapidly changing due to the spread of electronic commerce, it is time to prepare for the environment where IT technology is applied to international logistics activities. Therefore, this study was carried out to establish information strategy of Eurasia logistics information sharing platform from Korean perspective through comparison of logistics information level of Eurasian countries. This study aims at standardization direction for supporting logistics activities between Eurasian countries, providing customs clearance and logistics services without interruption, providing information for expanding business of trade companies, and building information linkage infrastructure for expanding cooperation between logistics companies across countries. Through this study, it is expected that logistics activities through information sharing among countries will be actively carried out.

• Journal of the Korean Society of Marine Environment & Safety
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• v.27 no.5
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• pp.574-583
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• 2021

Predicting shipping markets is an important issue. Such predictions form the basis for decisions on investment methods, fleet formation methods, freight rates, etc., which greatly affect the profits and survival of a company. To this end, in this study, we propose a shipping freight rate prediction model for container ships using gated recurrent units (GRUs) and long short-term memory structure. The target of our freight rate prediction is the China Container Freight Index (CCFI), and CCFI data from March 2003 to May 2020 were used for training. The CCFI after June 2020 was first predicted according to each model and then compared and analyzed with the actual CCFI. For the experimental model, a total of six models were designed according to the hyperparameter settings. Additionally, the ARIMA model was included in the experiment for performance comparison with the traditional analysis method. The optimal model was selected based on two evaluation methods. The first evaluation method selects the model with the smallest average value of the root mean square error (RMSE) obtained by repeating each model 10 times. The second method selects the model with the lowest RMSE in all experiments. The experimental results revealed not only the improved accuracy of the deep learning model compared to the traditional time series prediction model, ARIMA, but also the contribution in enhancing the risk management ability of freight fluctuations through deep learning models. On the contrary, in the event of sudden changes in freight owing to the effects of external factors such as the Covid-19 pandemic, the accuracy of the forecasting model reduced. The GRU1 model recorded the lowest RMSE (69.55, 49.35) in both evaluation methods, and it was selected as the optimal model.

• 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 Information Technology Application
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• v.3 no.2
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• pp.67-82
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• 2001

The ILOF project addresses the needs of logistics industrial organizations to reduce information processing time, improve added and residual value of information and reduce processing and transportation costs. It deals with the information supply chain information systems shared by vertical partner as important entity, whose performance and optimization very significantly affects the efficiency and performance of logistics industries. This paper deals with logistics information exchange systems based on supply chain management, focusing on sharing database and processes between partners such as shipper, logistics broker, transportation company, shipping company etc., for smoothing the information flow, enhancing consumer service and reducing communication fee and labour costs. The significance of contribution of this research is the provision of a model for logistics information exchange including entity relationship diagram, data flow diagram and functions which is able to facilitate the formulation of a customer driven supply chain information network, there by enhancing the competitive edge of companies in logistics industries on local and global basis.

• 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.

• Proceedings of the Korea Port Economic Association Conference
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• 2006.08a
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• pp.159-179
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• 2006

As the current trend to the main index of the port competitiveness evaluation, the competitiveness index of the port service comes to more important than the part of expense, location and facility. To reform the bottleneck of port has an effect on improving port service competitiveness. Therefore, this study shows the importance of analyzing bottlenecks on logistics to improve port competitiveness. It collected recent questionnaire data which are the subject as the Custom Service, the Chamber of Commerce and Industry, the Trade Association about bottlenecks of port logistics for working out bottlenecks of domestic port logistics and it produced the order of priorities of bottlenecks by multiplying each output priorities and weights of each process in user of Incheon inner-outer port which is focused on container freight by analysis of priority and Analytic Hierarchy Process(AHP). Unlike existing studies, this study has important values. It presents the priority evaluation only focused on the container freight was produced by port users who are categorized into shipping company, terminal operation company and forwarder, car-ferry in Incheon inner-outer port and making a application of logistics process. It means internal and external competitiveness improvement plan can be presented more concretely and detailed than past competitiveness attributes such as location, facility, service and expense. If the analysis of port logistics bottlenecks which was focused on container freight is extended to the part of general cargo and sundries such as haul grain, car, scrap iron, those studies will be able to provide Incheon port users with useful information and a model of analyzing overall bottleneck of logistics in Incheon port.

• International Commerce and Information Review
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• v.18 no.1
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• pp.151-178
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• 2016

This study is based on precedent research on contract fairness to prevent irrational contract practices and enable long term mutual interests between logistic firms and shipper. Actual unjust contract examples were identified in order to help create this positive partnership. An analysis on the difference of perspective proved that while the logistics companies believed on the positive effects of the presence of additional expense clauses & potential risk clauses, the very same companies believed that the concretization of procedural & distributional equitability clauses will cause positive effects on the partnership between the logistics companies and the shipper. On the other hand, concretizationof the expense clauses brings about a negative effect for the shipper company. Also, the perspective of a logistics company appears that such results were identical to the empirical study which had a positiveeffect. However, the shipping company had a negative and a rather opposite point of view. These researches prove that there should be an alteration in perception for the shipper company. It is believed that the comparison of the results of this research and the leading researches may provide grounds for thought-provoking suggestions that must be concretized and also for those in need for further settlement for drafting the standardized logistics contract and its logistics.

• Journal of Navigation and Port Research
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• v.35 no.3
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• pp.235-241
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• 2011

The shuttle that currently connects Busan New Port to the logistics companies in the Hinterland has the following companies: first, resources are consumed redundantly as each logistics company has independent transport vehicles. Second, the companies are not taking advantage of geographical merits of clustered complexes because different vehicles are used each time due to irregular schedules. In this respect, this study had the following purposes to realize these solutions: first, heuristic approach was made for operation scheduling and real-time operating rules to configure the best possible dynamic plan. Second, the reduction of consumption of resources with the shuttle and the efficiency were examined through a simulation of pooling and dual cycling applied to logistics companies' shipping plans.

• Proceedings of the Korean Institute of Navigation and Port Research Conference
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• 2016.05a
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• pp.217-218
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• 2016

Domestic distribution warehouse has been developed as a strategic strategic point for inventory management and shipping of goods for companies. Warehouse is classified as distribution center, transport center, complex center depending on the role. Currently, at the same time it is considering the price factor such as rent price or land price and and logistical capabilities when considering the location of domestic warehouses. The price evaluation factors has specific methods for the evaluation but logistical elements is not currently clear. In this study, we have studied location selection of distribution center considering the logistical elements through expert surveys.

• THE INTERNATIONAL COMMERCE & LAW REVIEW
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• v.49
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• pp.189-212
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• 2011

As the international business increases among the nations of the world recently, it is an inevitable fact that its claims rise as well. The most reasons of the international business claims have been concentrated upon the unpaid issues. The other reasons are sequently the different interpretation of business contract's conditions, the inferior quality of the goods, the breach of shipping time, the uncertain market-claims and some problems of transportation, the quantity and bad package of the goods. As business transactions grow more complex, it becomes increasingly important to resolve claims as quickly and efficiently as possible. Recognizing the importance of comprehensive policy support for overall international trade and investment of local company in recent years, Korean government has reborn the Korea Insurance Corporation ("K-sure"). K-sure adopted a range of measures to improve management efficiency to strengthen national competitiveness and national economy by promoting oversea trade and investment. Especially, K-sure will be able cover not only export transactions but also import transactions to secure oversea natural resources and commodities vital the national economy. K-sure should be able to continue and expand the existing export insurance programs, support import transactions and lead export-oriented industrialization of Korea as the best trade insurance agency.