• Journal of Korea Port Economic Association
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• v.27 no.4
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• pp.187-205
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• 2011

In considering the size of container logistic flow of Korea, one-port as a hub port is desirable in Busan Port, but as development of Busan Port and Gwangyang Port began as two-ports, they are good as mega hub ports. In case when ports of other regions such as Incheon Port are additionally developed, it is very likely that they become feeder ports rather than mega hub ports. As capital area uses Incheon Port and Pyeongtaek Port for transportation, fierce competition arises due to excessive facilities of terminal companies and it is not easy to be profitable. Therefore, it is more profitable to develop regional hub ports centering on near-sea routes of Korea China Japan rather than local ports such as Incheon Port and Pyeongtaek Port for intensive trade and transportation in the capital area. To mitigate excessive competition between container terminal companies, we need administrative guidance to maintain adequacy through comparing tariffs between ports of Japan and China which are in competitive relations with Korean ports. This study analysed efficiency of container terminal companies in Gwangyang Port, Busan Port and Incheon Port using data for five years from 2006 to 2010. As analytical variables, length of quay, floor area of yard, the number of cranes and employees were analytical variables and a total freight volume was a productive factor.

• The Journal of The Korea Institute of Intelligent Transport Systems
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• v.21 no.2
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• pp.44-61
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• 2022

With the increase of truck traffic, roads are becoming more congested and the risk of accidents is also increasing. Since the fatality rate of traffic accidents caused by trucks is about 2 to 3 times higher than that of passenger cars and buses, it is urgent to prepare policies for truck traffic safety. While most of the previous studies focused on factor analysis that contributes to traffic accidents, this study presented traffic safety policies (4 major-criteria and 12 sub-criteria) for trucks through driver interviews and previous studies. Then, the priority of the policies was evaluated by using Fuzzy-AHP. As a result, the improvement of truck drivers' working environment was evaluated as the most important criteria, and followed by the improvement of road traffic conditions. In detail, there is an urgent need to improve the freight car fare system, ensure sufficient rest for drivers, and strengthen the crackdown of illegal parking and stopping along roads. This study is expected to be usefully utilized in preparing traffic flow safety policies in preparation for the continuous increase of truck traffic.

• Journal of Navigation and Port Research
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• v.46 no.4
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• pp.359-366
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• 2022

While the Forward Freight Agreement (FFA) has emerged as an effective hedging tool since early 1990, the basis risk and cash flow distortions have been addressed as obstacles to the active use of FFAs. This research analyses the basis risk of FFAs and provides a feasible suggestion to reduce it. Basis risk is divided into timing basis, route basis, size basis, and low liquidity basis. The timing basis is defined as the difference between the physical hire, fixed on the specific contract date and the FFA settlement price, calculated by averaging spot rates for a certain period. Timing basis is considered the worst in eroding the effectiveness of FFAs. This paper suggests a change of hire payment criterion from contract date to 15-day moving average, as a means of mitigating the basis risk, and analyzed the effectiveness through historical simulation. The result revealed that the change is effective in mitigating the timing basis. This study delivers a meaningful implication to shipping practice in that the change of hire payment criterion mitigates the basis risk and eventually activates the use of FFAs in the future.