• Journal of Navigation and Port Research
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• v.40 no.5
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• pp.329-336
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• 2016

The overall purpose of this paper is to conduct research on alternatives for strengthening the competitiveness of a state-run shipping company, Vinalines Corporation, the largest shipping and maritime enterprise in Vietnam. The first section of the introduction gives a panoramic overview of the current development situation of the Vietnam maritime industry and Vinalines. After summarizing a literature review in section 2, some alternatives are proposed in sections 3 and 4 to overcome the current difficulties of Vinalines and to improve the corporation's competitiveness for sustainable development by utilizing linear optimization and financial analysis. The final section presents a summary and recommendation for future study. It is concluded that privatization is the key solution for every problem faced by the corporation at present. Furthermore, modification of laws, restructuring of enterprise governance, financial situation, and fleet are also extremely necessary.

• Journal of Fisheries and Marine Sciences Education
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• v.27 no.1
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• pp.133-144
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• 2015

Recently, Korea shipping companies have been internally/externally difficult to manage their fleet due to the high price of bunker, wage and low cost of charterage and freight. To solve these problems, some shipping companies have tried to set up a new business regarding offshore plant supply vessel(OSV). Owing to the absence of big oil field near the Korea coast, OSV market has not been gradually progressing as far. This study intends to review the legal review of both international and municipal law for the OSV. Therefore I have provided basic legal information to the domestic shipping companies which have desired to enter the OSV's market and suggest legal revision harmoniously to identify the problem in the municipal law.

• Proceedings of KOSOMES biannual meeting
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• 2001.10a
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• pp.117-134
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• 2001

Quality costs seem to be one of the effective tools to assess quality management activities, but shipping industries have not controlled quality costs because of difficulty in cost itemization and cost data collection. This study has attempted to itemize shipping quality costs in detail and researches the composition of actual quality costs of sampled shipping companies in Korea. Result of research shows that stopping quality costs were composited by 24.3%, 3.8% and 71.8% of prevention costs, appraisal costs and failure costs, respectively and very high relationship between total qualify cost and other quality costs. This research also recommended practical methods for quality management by using indexes of quality costs.

• Proceedings of the Korean Institute of Navigation and Port Research Conference
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• 2002.03a
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• pp.131-140
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• 2002

Recently, in the whole fields of industry including shipping business, the conception and importance of Human Factor is very highly and frequently emphasized. But the domestic crew disaster including injury and illness in our shipping business shows higher accident rate than other shipping countries. Therefore the developing of measurec to prevent/reduce the accident is highly required as the marine accident including crew disaster cause enormous loss of property and human life in size and scale. But, because the domestic data regarding the crew accident are relatively insufficient and rare, the developing of these measures has many difficulties. Therefore, this study is to make the concerning data for the useful reference by showing the trend and current situation of crew accidents, assorted by the crew's rank, type of the accident, injured part of the body, cause of the accident, type of ships and type of the works when the accident occurred, by using the each ocean-going shipping company's recent 5 years('95∼'99) data in korea.

• Proceedings of the Korean Institute of Navigation and Port Research Conference
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• v.1
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• pp.441-446
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• 2006

The world economy has came into unlimited competition with globalization since 1990. Opening markets to the world is in progress through the expansion of world free trade and internationalization of multinational enterprises. In the maritime transportation for world trade, shipping companies pursue "Hub & Spoke" strategy so a port which is not able to be located as a hub port is degraded as a feeder port. To attract shipping companies, it is necessary for existing ports to provide differentiated service. This paper devises marketing strategies for a competitive port after evaluating relation among the factors affecting port selection when a shipping company chooses a port of call. On the basis of determinants derived from existing researches, we study the relation as well as importance among the factors of port selection.

• Journal of the Korea Safety Management & Science
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• v.14 no.4
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• pp.185-191
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• 2012

According to result of this paper, shipping companies tend to choose a third party logistics company that is able to provide consulting services that is the core of the administration of distribution. Shipping companies expect that the consulting services would be able to increase the efficiency through utilizing not logistics functions of shipping, unloading, storage, and information but performance indices of logistics activities. Because shipping companies generally regard that third party logistics not only has no expertise but also is small, in order to activate third-party logistics industry, the consulting services should be improved.

• Journal of Navigation and Port Research
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• v.38 no.6
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• pp.567-575
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• 2014

In recent times, an obvious strategy in liner shipping markets that has come to the fore is slow steaming. Nowadays, most liner shipping companies have decelerated the voyage speed to 15-18 knots on major routes, and some leading liner shipping companies have a plan to reduce it to below 15 knots. Slow steaming is helpful in reducing the operating cost and the amount of greenhouse-gas emissions on a single vessel with lower fuel consumption. However, it also creates various negative effects such as the opportunity cost, additional fixed costs and an in-transit inventory cost on a loop. Hence, the net operating cost on a loop is changing dynamically due to the changes of voyage speed based on various slow steaming effects. The aim of this study is to analyze the slow steaming effects in the liner shipping, and to find the best voyage speed that minimizes the operating cost on a loop. Moreover, this study suggests the recommendable strategy for liner shipping companies. To achieve the aim of this study, a simulation model has been designed using System Dynamics.

• Journal of Navigation and Port Research
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• v.45 no.5
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• pp.259-275
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• 2021

This study analyzed the decision-making process in ship finance for the choice between fixed and floating interest rates using behavioral finance theories. Results confirmed that causes and background of decision-making processes could be explicitly explained by the framework of behavioral finance theories. This study also determined whether decisions were irrational. A case-study research was applied as the methodology. Decision-making data on ship finance collected through narrative and questionnaire responses were analyzed and evaluated using behavioral finance theories. Theories of behavioral finance used in the analysis and research of this study included availability heuristic, anchoring effect, and opportunity cost theory. Narrative and survey responses were clearly explained by theories of behavioral finance. It was found that a shipping company suffered additional losses owing to decisions that included behavioral finance errors. Behavioral finance theories largely influenced the decision-making process of choosing between a fixed interest rate and a floating interest rate. Shipping finance decisions related to interest rate selections could be clearly explained by behavioral finance theories. Errors related to behavioral finance could result in irrational decisions. Thus, managers who are responsible for shipping finance should remain vigilant toward any behavioral finance errors when making shipping finance decisions.

• Proceedings of the Korean Institute of Navigation and Port Research Conference
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• 2000.11a
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• pp.43-51
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• 2000

Since 1996, the document exchange method by EDI has been introduced in port and logistics industries to enhance the declaration activities to the Pusan Port Authority and Customs. In spite of these efforts, users such as shipping companies, shipping agents, and freight forwarders have complained the inconvenience of using EDI systems. The major reasons can be summarized as too much transfer time, inconvenient EDI software, and problems on message receiving confirmation. To solve these problems, although we have developed an Internet based EDI system for Port-MIS users, we have failed its implementation practically for the short of Governments readiness, the complexity of systems and separation with in-house systems. So, the writers have changed the direction of research to applying the concept of SCM to logistics system by XML/EDI. In this Paper, the prototype systems to integrate processes of shipping company, Port Authority, Customs and stevedoring company will be suggested. The new method of EDI gives us advantages, which are the accuracy of cargo data and integration of processes among firms and keeping the service of cargo trace.

• 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.