• Journal of Navigation and Port Research
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• v.42 no.6
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• pp.546-554
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• 2018

The Bulk market, unlike the line market, is characterized by stiff competition where certain ship or freight owners have no influence on freight rates. However, freights are subject to macroeconomic variables and economic external shock which should be considered in determining management or chartering decisions. According to the results analyzed by use of ARIMA Inventiom model, the impact of the financial crisis was found to have a very strong bearing on the BDI index. First, according to the results of the VEC model, the libor rate affects the BDI index negatively (-) while exchange rate affects the BDI index by positively (+). Secondly, according to the results of the VEC model's J ohanson test, the order ship volume affects the BDI index by negatively (-) while China's economic growth rate affects the BDI index by positively (+). This shows that the shipping company has moved away from the simple carrier and responded appropriately to changes in macroeconomic variables (economic fluctuations, interest rates and exchange rates). It is believed that the shipping companies should be more aggressive in its "trading" management strategy in order to prevent any unfortunate situation such as the Hanjin Shipping incident.

• Journal of Ocean Engineering and Technology
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• v.33 no.1
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• pp.33-41
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• 2019

Estimating fatigue damage is a very important issue in the design of ships. The springing and whipping response, which is the hydro-elastic response of the ship, can increase the fatigue damage of the ship. So, these phenomena should be considered in the design stage. However, the current studies on the the application of springing and whipping responses at the design stage are not sufficient. So, in this study, a prediction method was developed using fluid-structural interaction analysis to assess of the fatigue damage induced by springing and whipping. The stress transfer function (Stress RAO) was obtained by using the 3D FE model in the frequency domain, and the fatigue damage, including linear springing, was estimated by using the wide band damage model. We also used the 1D beam model to develop a method to estimate the fatigue damage, including nonlinear springing and whipping by the vertical bending moment in the short-term sea state. This method can be applied to structural members where fatigue strength is weak to vertical bending moments, such as longitudinal stiffeners. The methodology we developed was applied to 325K VLOC, and we analyzed the effect of the springing and whipping phenomena on the existing design.

• The Journal of shipping and logistics
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• v.27 no.1
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• pp.79-98
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• 2011

The volume of the world's container transportation has been increasing. To serve this transportation need, the size of the container carrier is getting larger. The global ports are required to deepen the waterways as well as to prepare infrastructure to serve these super-size container carriers. However, few ports around the world could meet the requirements. To solve these difficulties, the concept of the Mobile Harbor has been developed. An onboard Automatic Storage and Retrieval System(AS/RS) has been proposed for the B1 type Mobile Harbor to maximize the container throughput within the limited space of the Mobile Harbor. A scenario of operations and freight movements of the B1 type Mobile Harbor is prepared and the storage size of the B1 type Mobile Harbor through the computer simulation is estimated. The size of the Mobile Harbor and the size of the AS/RS has also been estimated. The optimized size of the Mobile Harbor could be proposed.

• Journal of Advanced Marine Engineering and Technology
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• v.41 no.1
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• pp.8-14
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• 2017

Due to the financial crisis in 2008, the world economy collapsed leading to an increase in oil prices and a decrease in freight by shipping. To overcome this crisis, major shipping companies ordered larger ships, changed their trading route and improved operating of ships to overcome deficits. In particular, low-speed navigation was much favored by many companies so that it can reduce fuel consumption. However, the long-term operation of high-speed optimized engines in low-speeds has affected the jacket cooling fresh water (J.C.F.W.) system as they fail to maintain the normal operational temperature. The temperature of J.C.F.W. system dropped leading to low temperature corrosion. As a result, when the engine is operating at minimal load the functioning of existing J.C.F.W cooler is decreased and the use of fresh water generator is substantially limited. Therefore, an improvement in the functioning of J.C.F.W. system is necessary. In this paper, in order to review the improvements required for the operation of J.C.F.W. of low-speed operating marine diesel, an experiment was conducted by comparing and analyzing the results of the main engine J.C.F.W. system of a Panamax class bulk carrier 82k and a Cape class bulk carrier 180k by installing and uninstalling the J.C.F.W. Cooler. Thus, this paper proposed an improved design of the J.C.F.W. system that is suitable for the present low-speed operation.

• Journal of Ocean Engineering and Technology
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• v.33 no.6
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• pp.641-647
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• 2019

Yearly world vehicle production has continued to increase, and the global seaborne trade volumes also are recovering. Based on these positive trends, as demand for cargo ships increases in the freight transportation market, Pure car and truck carriers (PCTCs) with large gaps between decks continue to be ordered. The structural analysis of the cargo hold was performed in order to confirm its structural safety in accordance with the guidance for the direct strength assessment of the Korean Register (KR) of Shipping. And, according to the type of cargo, the maximum deflection and structurally weak area that occurred in deck 5 was confirmed. Also, it was found that the weight of the cargo had a significant effect on the deck, the primary members of the deck's structure, and pillars. The results of the structural analysis conducted in this study were added to the existing cargo load planning software. This was done so that the prediction of the maximum stress and the deflection of the deck based on the information about the cargo could be confirmed quickly. In addition, the data will be used as the basic data for rapid information management response to changes in cargo items.

• Journal of Navigation and Port Research
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• v.38 no.6
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• pp.577-583
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• 2014

A ship-to-ship (STS) lightering operation takes place in order to transfer cargo (e.g. crude oil or petroleum products) between an ocean-going ship and a service ship alongside it. Instrumental measurements to accurately determine the relative speeds and distances during the approach between the vessels would benefit the operational safety and efficiency. A velocity information GPS (VI-GPS) system, which uses the instantaneous velocity measures from carrier-phase Doppler measurement, has been applied in a field observation onboard a service ship (Aframax tanker) approaching a ship-to-be-lightered (VLCC) in open waters. This article proposes to apply VI-GPS as the input sensor to a guidance and decision-support system aiming to provide accurate velocity information to the officer in charge of an STS operation. A method for precise velocity measurement using VI-GPS was described and the measurement results were compared each other with the results of Voyage Data Recorder (VDR) and VI-GPS that showed the concept of a guidance and decision-support system applying VI-GPS with the field test results during STS operations. Also, it turned out that VI-GPS has sufficient accuracy to serve as an input sensor from the field test results.

• Journal of Fisheries and Marine Sciences Education
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• v.28 no.5
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• pp.1319-1328
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• 2016

Since Ballast Water Management Convention has been effected, BWTS, applied to new-building vessels and existing vessels, have been developed from many countries with various treatment methods. However, BWTS is mainly typed Electrolysis, Ozone and UV type. Approximately 70 products have been type approved by the Flag Administrations. For the new-building vessels, the vessels' design and construction have been considered for arrangements and installations for BWTS. However, existing vessels which already construction had finished have problem with selection of BWTS type for installation and arrangement. The selection of the most economized BWTS system is important though, CAPEX has not been made any significant differences. However, OPEX is more important factor. Consequently, detail analysis of OPEX is the key to the selection of the most economized BWTS system and also it can be the purpose of this study. The feasibility study on the main three type of BWTS (Electrolysis, Ozone and UV type) for 175K Bulk Carrier and 57K Cargo ship has been conducted for this study. Because, these three type of BWTS have been the most frequently installed and used and the two type of object vessels are consist of the 40% of the world merchant ship market. For this study, interest rate, project duration (operation time after installation), maintenance cost and fuel oil price are considered as major factor of feasibility study. In addition, expecting Interest rates to sensitivity analysis conducted for more accurate feasibility study. For 175K Bulk carrier, ozone treatment system is more economical than other types. For 57K cargo ship, UV type is considered more economical than other types. However, it is concluded that electrolysis type is more suitable compare to installation space, total weight and electrical power consumption.

• Journal of Fisheries and Marine Sciences Education
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• v.29 no.2
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• pp.503-512
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• 2017

Over the past few years, as maritime trade and traffic were highly expanding, problem of invasive species via ballast water have been raised. In 1988, Canada and Australia had firstly experience that unexpected and hazardous species were observed on their own sea, they have issued the problem to MEPC under the IMO. At the end of many years of discussion, on the diplomatic conference in 13 Feb. 2004, "International Convention for the Control and Management of Ballast Water and Sediments of the Ship" was adopted. Requirements for entering into force of this Convention is that 30 countries ratify and world merchant marine fleet is more than 35% and BWM Convention will be effected after 12months from date satisfying conditions. With Finland ratifying the BWM Convention on 8 Sep. 2016, the fleet amounted to 35.1441% and ratification country became 52 countries. Therefore, after 12month, BWM Convention will be formally effected on 8 Sep. 2017. Ballast Water Treatment System is to be fitted in new ships as well as existing ships. Thus, there are concerns of ship owners to be suitably installed a variety typed BWTS in many kinds of vessels. As approaching for resolving these problems, engineering analysis was carried out research studies and detailed design to analyze to optimal installation space for retrofitting a BWTS using 3D Scanning method, targeting representative DWT 180K Bulk carrier of dry cargo vessels charged more 40% on worldwide vessel and mainly two type BWTS as electrolysis treatment type and ultra violet treatment type. Optimal design of 3D Scanning technology was applied to analyze four step process and the overall conclusion was described in this paper.

• Journal of Ocean Engineering and Technology
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• v.24 no.5
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• pp.16-21
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• 2010

During the loading/offloading operation of a liquefied natural gas carrier (LNGC) that is moored in a side-by-side configuration with an offshore plant, sloshing that occurs due to the partially filled LNG tank and the interactive effect between the two floating bodies are important factors that affect safety and operability. Therefore, a time-domain software program, called CHARM3D, was developed to consider the interactions between sloshing and the motion of a floating body, as well as the interactions between multiple bodies using the potential-viscous hybrid method. For the simulation of a floating body in the time domain, hydrodynamic coefficients and wave forces were calculated in the frequency domain using the 3D radiation/diffraction panel program based on potential theory. The calculated values were used for the simulation of a floating body in the time domain by convolution integrals. The liquid sloshing in the inner tanks is solved by the 3D-FDM Navier-Stokes solver that includes the consideration of free-surface non-linearity through the SURF scheme. The computed sloshing forces and moments were fed into the time integration of the ship's motion, and the updated motion was, in turn, used as the excitation force for liquid sloshing, which is repeated for the ensuing time steps. For comparison, a sloshing motion coupled analysis program based on linear potential theory in the frequency domain was developed. The computer programs that were developed were applied to the side-by-side offloading operation between the offshore plant and the LNGC. The frequency-domain results reproduced the coupling effects qualitatively, but, in general, the peaks were over-predicted compared to experimental and time-domain results. The interactive effects between the sloshing liquid and the motion of the vessel can be intensified further in the case of multiple floating bodies.

• 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.