• Journal of the Korean Institute of Navigation
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• v.23 no.3
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• pp.17-28
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• 1999

Concerns related to the safety of bulk carriers we, most of all, the increasing number of bulk carrier accidents which amount to 425 during last 20 years; half of them are totally lost. A number of bulk tarriers are still missing. Bulk carrier safety has become an international issue since 1995. The International Maritime Organization (IMO) embarked on the legislation as a countermeasure to the increasing number of the bulk carrier accidents. The IMO discussed in the safety of bulk carriers including the strength of transverse watertight bulkheads, especially when the ship carries high density cargoes and the damage stability of bulk carriers in the flooded condition. In this study, statistics and causes of accidents of bulk carriers are analyzed in order to identify special features of bulk carrier accident and causes of the casualty. This study examines certain cases of hull collapses and severence which resulted in sinking to infer possible causes of missing ships.

• Special Issue of the Society of Naval Architects of Korea
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• 2011.09a
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• pp.17-20
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• 2011

The International Association of Classification Societies (IACS) had developed the Common Structural Rules (CSR) for bulk carriers as per the needs noted above. ISO and IMO GBS (Goal-Based Standards) are now being developed in this regard. This study has been prepared to verity the strength of forward cargo hold of 82,000 DWT class bulk carriers. A cargo hold/tank 3-D FE model was established to assess the structural adequacy of the primary structural members with the loading conditions. Full breadth model was established for the analysis considering asymmetric nature of structural layout and loading conditions. To summarize this result of structural assessment based on IACS CRS for bulk carrier, it is benefit to design this kind of bulk carriers and to study the strength assessment for the similar type of bulk carriers.

• Journal of Navigation and Port Research
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• v.46 no.5
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• pp.441-448
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• 2022

The aim of this study was to examine determinants of secondhand Bulk carrier and Oil tanker prices. This study compiled S& P transaction data taken from the Clarksons Research during J anuary 2018 to April 2022 to see how independent variables influenced secondhand ship prices. In the secondhand ship pricing model of entire segments, size, age, and LIBOR showed significant effects on prices. A vessel built in J apan and Korea was traded at a higher price than a vessel built in other countries. In the bulk segment, size, age, Clarksea index, LIBOR, and inflation were meaningful variables. In the Tanker segment, unlike Bulk carrier, only size and age were useful variables. This study performed regression analyses for various sizes of Bulk carriers and Oil tankers. It verified that impacts of variables other than ship size and age were significantly associated with ship type and size while macroeconomic variables had no influence except for bulk carriers. By applying diverse variables affecting secondhand ship price estimation according to various sizes of Bulk carriers and Oil tankers, this study will expand the scope of practical application for investors. It also reaffirms prior research findings that the secondhand ship market is primarily market-driven.

• Structural Engineering and Mechanics
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• v.46 no.5
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• pp.629-644
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• 2013

This paper concerns about the raking damages on the ultimate residual hull girder strength of bulk carriers by applying the modified R-D diagram (advanced method). The limited raking damage scenarios, based on the IMO's probability density function of grounding accidents, were carried out by using sampling technique. Recently, innovative method for the evaluation of the structural condition assessment, which covers the residual strength and damage index diagram (R-D diagram), was proposed by Paik et al. (2012). This concept is applied in the present study and modified R-D diagram, which can be considered vessel size effect, is then proposed. Four different types of bulk carrier structures, i.e., Handysize (37K), Supramax (57K), Kamsarmax (82K) and Capesize (181K) by Common Structural Rule (CSR), were applied to draw the general tendency. The ALPS/HULL, intelligent supersize finite element method, was employed for the ultimate longitudinal strength analysis. The obtained empirical formulas will be useful for the condition assessment of bulk carrier structures. It can also cover different sizes of the bulk carriers in terms of ultimate longitudinal strength. Important insights and findings with useful guidelines developed in this study are summarized.

• Korea Trade Review
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• v.43 no.3
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• pp.125-145
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• 2018

The Baltic Shipping Exchange is reporting the Baltic Dry Index (BDI) which represents the average charter rate for bulk carriers transporting major cargoes such as iron ore, coal, grain, and so on. And the current BDI index is reflected in the proportion of capesize 40%, panamax 30% and spramax 30%. Like mentioned above, the capesize plays a major role among the various sizes of bulk carriers and this study is to analyze the influence of the factors influencing on charter rate of capesize carriers which transport iron ore and coal as the major cargoes. For this purpose, this study verified causality between variables using Vector Error Correction Model (VECM) and tried to derive a long-run equilibrium model between the dependent variable and independent variables. Regression analysis showed that every six independent variable has a significant effect on the capesize charter rate, even at the 1% level of significance. Charter rate decreases by 0.08% when capesize total fleet increases by 1%, charter rate increases by 0.04% when bunker oil price increases by 1%, and charter rate decreases by 0.01% when Yen/Dollar rate increases by 1%. And charter rate increases by 0.02% when global GDP increases by one unit (1%). In addition, the increase in cargo volume of iron ore and coal which are major transportation items of capesize carriers has also been shown to increase charter rates. Charter rate increases by 0.11% in case of 1% increase in iron ore cargo volume, and 0.09% in case of 1% increase in coal cargo volume. Although there have been some studies to analyze the influence of factors affecting the charterage of bulk carriers in the past, there have been few studies on the analysis of specific size vessels. At present moment when ship size is getting bigger, this study carried out research on capesize vessels, which are biggest among bulk carriers, and whose utilization is continuously increasing. This study is also expected to contribute to the establishment of trade policies for specific cargoes such as iron ore and coal.

• International Journal of Naval Architecture and Ocean Engineering
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• v.7 no.1
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• pp.10-24
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• 2015

This study introduces a fatigue assessment procedure using mesh-insensitive structural stress method based on the Common Structural Rules for Bulk Carriers by considering important factors, such as mean stress and thickness effects. The fatigue assessment result of mesh-insensitive structural stress method have been compared with CSR procedure based on equivalent notch stress at major hot spot points in the area near the ballast hold for a 180 K bulk carrier. The possibility of implementing mesh-insensitive structural stress method in the fatigue assessment procedure for ship structures is discussed.

• Special Issue of the Society of Naval Architects of Korea
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• 2015.09a
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• pp.46-49
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• 2015

Common Structural Rules (CSR) about bulk carriers and double-hull oil tankers of International Association of Classification Societies (IACS) has been applied to ships contracted for construction since April 2006. By unifying each society's rules, the difference of opinion in the between shipyard and ship owners, classification was reduced, and CSR has been evaluated by rules the safety structure more enhanced. However, The CSR about the bulk carriers and double hull oil tankers, important design content standards, such as the local scantling calculation, static/dynamic load case and corrosion margin and etc., are different. Therefore in order to combine the CSR, the Harmonized CSR for bulk carriers and double hull oil tankers (H-CSR) was issued on 1, January, 2014, and will be apply to ships contracted for construction after 1st July 2015. It is necessary to verify the H-CSR to optimize the structural arrangement because effective date is not far off. In this study, we compared the impact by rule change for the hull girder shear strength of bulk carriers between CSR and H-CSR in respect of the yielding and buckling strength.

• Journal of Distribution Science
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• v.15 no.11
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• pp.59-72
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• 2017

Purpose - This paper evaluated the efficiency performance of the three major maritime transport markets and examined the determinants of the performance. The firms' revenue fluctuates with the changes of the economic cycle; hence it is important for them to set up business strategies to improve efficiencies. A lack of efficiency measurements for shipping firms leads to a significant gap in determining their overall performance. Research design, data, and methodology - Each of DEA scores was adopted for the evaluation and panel regression was used to examine the impact of determinants on the performance. The analysis included 50 shipping firms from three maritime transport markets as follows; 15 firms of container liners, 18 firms of bulk carrier and 17 firms of tanker carriers, and its period was from 2010 to 2016. Results - In the CCR model, container liners were the highest, tanker carriers were the second, and bulk carriers were the lowest in operation efficiency and financial efficiency. By region, operation efficiency and financial efficiency was high in the order of America, Asia, and Europe. Conclusions - This study suggests business strategies for maritime transport companies based on the analytical results of determinants of operational and financial efficiency.

• Journal of Ship and Ocean Technology
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• v.2 no.1
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• pp.58-70
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• 1998

Many bulk carrier losses have been reported of late, and one of the possible causes of such casualties is thought to be the structural failure of aging hulls in rough weather. Clearly, in such cases, vessels that start out belong adequate somehow become marginal later in life. Fatigue and corrosion related potential problems may be the most important factors affecting such age related vessel damage. With respect to fatigue, extensive studies have been done worldwide both experimentally and theoretically, and the results have been applied to some extent. However, in the case of corrosion effects, additional research is still needed to better understand, clarify and address the various strength uncertainties and their effects on structural behavior. This paper develops a probabilistic corrosion rate estimation model for the longitudinal strength members of bulk carriers. The model is based on available statistical data for corrosion of existing bulk carriers. The corrosion data collected are documented for future use.

• International Journal of Naval Architecture and Ocean Engineering
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• v.11 no.1
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• pp.165-177
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• 2019

This paper considers corrosion wastage of two ship hull structure members as a part of investigated fuel oil tanks of 25 aging bulk carriers. Taking into account that many factors which influence corrosion wastage of ship hull structures are of uncertain nature, the related corrosion rate ($c_1$) is considered here as a real-valued continuous distribution, assuming that the corrosion wastage starts after 5, 6 or 7 years. In all considered cases, by using available data and applying three basic statistical tests, it is established that between two-parameter continuous distributions, normal, Weibull and logistic distributions are best fitted distributions for the mentioned corrosion rate ($c_1$). Note that the presented statistical, numerical and graphical results concerning two mentioned ship hull structure members allow to compare and discuss the corresponding probabilistic estimates for the corrosion rate ($c_1$).