• Journal of Korea Port Economic Association
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• v.39 no.4
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• pp.43-65
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• 2023

Recently, with the increasing international interest on environmental issues, efforts have been made to reduce greenhouse gas emissions due to ship fuel, however, the dependence on fossil fuel is expected to continue for a while. Since fuel costs account for a high portion of the total operating cost of a ship, it is necessary to analyze the influence of oil prices on the shipping markets. The purpose of this study is to evaluate the relationship between the international oil prices and the four major shipping markets for bulk carriers. This study employed WTI as the oil price variable while monthly data from 2017 to 2020 from the four major shipping markets by classifying freight rates, charter rates, newbuilding prices, and secondhand prices were also considered in multiple ship sizes of capesize, panamax, supramax, and handysize. Firstly, the results of the correlation analysis using the VAR model indicate that changes in international oil prices have a statistically positive (+) significant effect on BCIS only in the second time lag, on BSIS at all lags, and on BHIS only in the first staggered period. Secondly, as a result of correlation analysis using the VECM model, in the case of BPIC, BHIC, BCIN, and BHIR, the cointegration coefficient value has a negative (-) significant effect at the 5% significance level in the cointegration relationship with international oil prices. Further, in the case of the dynamic correlation, the increase in oil price in the first period of the lag leads to a decrease in the BCIN newbuilding prices while the increase in the oil price in the first and second period in the lag leads to a decrease in the BHIR used ship prices.

• Plant Journal
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• v.13 no.2
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• pp.34-38
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• 2017

To reduce global warming, there are so many studies, investments and efforts. The Post Combustion $CO_2$ Capture technology is one of these efforts. But the technologies are having trouble with reducing operating prices. And CCS technology which is using amine solvent uses high price amine solvent. There is solvent losses naturally when operating plant. The solvent loss makes operating and maintenance price higher. In this study, how the washing column of treated flue gas affects the losses of amine solvent and operating was studied.

• Journal of Electrical Engineering and Technology
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• v.13 no.2
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• pp.568-579
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• 2018

Virtual power plants can be regarded as systems that have entered the network after restructure of power systems. In fact, these plants are a set of consumers capable of consuming and generating power. In response to widespread implementation of plug-in hybrid electric vehicles, further investigation of energy management in this type of power plants seems to be of great value. In effect, these vehicles are able to receive and inject power from/into the network. Hence, study of the effects of these vehicles on management of virtual power plants seems to be illuminative. In this paper, management of power consumption/generation in virtual power plants has been investigated in the presence of hybrid electric vehicles. The objective function of virtual power plants problem management is to minimize the overall costs including not only the costs of energy production in power generation units, fuels, and degradation of batteries of vehicles, but also the costs of purchasing electricity from the network. Furthermore, the constraints on the operational of plants, loads and hybrid vehicles, level of penalty for greenhouse gas emissions ($CO_2$ and $NO_x$) produced by power plants and vehicles, and demand response to the immediate price of market have all been attended to in the present study. GAMS/Cplex software system and sample power system have been employed to pursue computer implementation and simulation.

• Journal of the Korean Society of Industry Convergence
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• v.26 no.6_3
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• pp.1289-1295
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• 2023

Polyurethane foam insulation required for storing and transporting cryogenic liquefied gas is already widely used as a thermal insulation material for commercial LNG carriers and onshore due to its stable price and high insulation performance. These polyurethane foams are reported to have different mechanical performance depending on the density, and the density parameter is determined depending on the amount of the blowing agent. In this study, density-dependent polyurethane foam was fabricated by adjusting the amount of blowing agent. The mechanical properties of polyurethane foam were analyzed in the room temperature and cryogenic temperature range of -163℃ at 1.5 mm/min, which is a quasi-static load range, and the cells were observed through microstructure analysis. The characteristics of linear elasticity, plateau, and densification, which are quasi-static mechanical behaviors of polyurethane foam, were shown, and the correlation between density and mechanical properties in a cryogenic environment was confirmed. The correlation between mechanical behavior and cell size was also analyzed through SEM morphology analysis. Polyurethane foam with a density of 180 kg/m³ had a density about twice as high as that of a polyurethane foam with a density of 96 kg/m³, but yield strength was about 51% higher and cell size was about 9.5% smaller.

• Journal of Arbitration Studies
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• v.24 no.1
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• pp.45-58
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• 2014

It is a well recognised rule in international law that the property of aliens cannot be taken. The question of whether indirect expropriation and government regulatory measures require compensation is an important issue in international investment law. Bilateral investment treaties and other investment agreements contain brief and general indirect expropriation provisions. These focus on the effect of government action and do not address the distinction between compensable and non-compensable regulatory actions. It is generally accepted that a state is not responsible for loss of property or for other economic disadvantages resulting from bona fide general taxation accepted as within the police power of states, provided it is not discriminatory. Yukos Oil Company is a Russian oil and gas company engaged in exploration, refining, and marketing activities. It is one of the largest oil and gas companies in the world. Yukos Oil Company has its production operations in Russia and markets its products in Europe. An international tribunal ordered the Russian government to compensate a group of Spanish investors for the losses they suffered when Russia seized the Yukos Oil Company on July 26, 2012. This has been the subject of several judicial proceedings and academic publications. This paper explores which circumstances do not lead to taxation amounting to expropriation. The author suggests that under the following circumstances, taxation would not amount to expropriation. First, taxation should be non-discriminatory. Also a lawful exercise of the taxation powers of governments would not amount to expropriation.

• Resources Recycling
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• v.16 no.6
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• pp.28-33
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• 2007

Coal is the most abundant energy source and deposited in every area of world. Combustion process with lower efficiency has been mainly used. Therefore, implementation of more efficient technologies, involving gasification, combined cycles and fuel cells, would be a key issue in the plans for more efficient power generation. In these technologies, gasification has been studied for decades. However, coal gasification to high value combustible gas such as hydrogen and carbon monoxide is focused again due to high oil price. The gaseous product, called syngas, can be effectively utilized in a variety of ways ranging from electricity production to chemical industry (as feedstock). In this study, coal gasification with ultra high temperature steam has been performed. The effect of steam/carbon ratio on the produced gas concentrations, gasification rate and additional products like tar, ammonia and cyan compounds has been determined.

• Asia-Pacific Journal of Business
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• v.13 no.2
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• pp.139-154
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• 2022

Purpose - This study aims to analyzing of solar power generation cost-benefit. Design/methodology/approach - We analyzed whether there is economic feasibility by selecting parking lots and idle sites located in four areas of Seoul, Gyeonggi, Chungcheong, Jeolla, and Gyeongsang areas nationwide, and analyzing site conditions and installation capacity. Findings - According to the results of the analysis, it was found that there is low profitability in Seoul, Gyeonggi and Chungcheong regions, where the solar radiation was not excellent even if REC is selected through the contract market. However, it is necessary to analyzed the economical validity the profitable validity including environmental benefits (greenhouse gas reduction, NOx, SOx reduction effect) and social benefits (renewable power supply) that is analyzed by income and operating costs which is occurred from electricity sales and REC sales when installing solar power generation facilities. Research implications or Originality - In this study, economic feasibility was evaluated additionally in consideration of environmental and social benefits. In conclusion, it was shown that businesses are not economical when considering only simple financial aspects are also sufficiently economical when it is considering environmental and social benefits.

• Korean System Dynamics Review
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• v.6 no.1
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• pp.99-123
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• 2005

Although the generation market is competitive, the power market is easily exercised the market power by one generator due to its special futures such as a limited supplier, large investment cost, transmission constraints and loss. Specially, as Korea Electric industry restructuring is similar US competitive wholesale electricity market structure which discovered the several evidences of market power abuse, when restructuring is completed the possibility that market power will be exercised is big. Market power interferes with market competitions and efficiency of system. The goal of this study is to investigate the market price effects of the potential market power and the proposed market power mitigation strategy in Korean market using the forecasting wholesale electricity market model. This modeling is developed based on the system dynamics approach. it can analyze the dynamic behaviors of wholesale prices in Korean market. And then it is expanded to include the effect of market condition changed by 'strategic behavior' and 'real time pricing.' This model can generate the overall insights regarding the dynamic impact of output withholding by old gas fire power plant bon as a marginal plant in Korean market at the macro level. Also it will give the energy planner the opportunity to create different scenarios for the future for deregulated wholesales market in Korea.

• 한국연소학회:학술대회논문집
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• 2014.11a
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• pp.101-102
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• 2014

Rising oil price and environmental problems are causing automotive industry to increase fuel efficiency. Improved fuel efficiency in gasoline engine was made possible by development of DISI gasoline engine. Since fuel is injected inside cylinder directly, in-cylinder temperature can be reduced than multi-port injection engine and this leads to increased compression ratio. However, engine performance is largely dependent on mixture formation process due to in-cylinder fuel injection. Especially for spray guided and air guided DISI gasoline engine, injection direction is important factor to mixture preparation. It is because interaction between intake flow and spray affect fuel-air mixture. Hence, in this study, mixture formation characteristics were analyzed by varying injection direction using KIVA 3V release2 code. Residual gas was considered for assuming combustion. Therefore, initial condition for in-cylinder temperature was set equal to the end state of exhaust stroke of combustion cycle. Since angle between intake air flow direction and spray direction affects fluid flow and evaporation field, mixture distribution was affected by fuel injection direction dominantly.

• Journal of Energy Engineering
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• v.29 no.1
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• pp.58-62
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• 2020

Among the exhaust gas, Carbon dioxide which is a causative factor in greenhouse effect. We study for synthesis of propylene carbonate with carbon dioxide which is captured and utilized in commercially valuable. The Experiment was proceeded as pilot scale with using homogeneous organic catalyst which is able to produce propylene carbonate in commercial and reaction conditions. Optimization condition for concentration of catalyst and reaction temperature, pressure was studied. We confirm that this process is eco-friendly method and commercial application due to the mild condition and also catalyst has a competitive price, reusability.