• Journal of Ship and Ocean Technology
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• v.11 no.2
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• pp.34-45
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• 2007

Environment of marine transportation market is changing rapidly. Due to globalization of world economy, marine transportation of cargos, especially trade using container boxes, is increasing dramatically. Fierce competition in the global market of container transportation forces the shipping industry to seek the economy of scale to reduce transportation cost, and drives the merge and alliance of liner shipping companies. Mega-sized container ships, having capacity over 10,000 TEU, were introduced, and appeared recently, in order to reduce the unit transportation cost. Korean shipping and shipbuilding companies are competitive, and have considerable market share in the global market. Even though both industries are inter-connected through ships and have many common interests in order to enlarge the global market share, inter-relation between two industries is surprisingly insignificant. In this paper current issues in the process of environmental change of marine cargo transportation are reviewed, and inter-relation of shipping and shipbuilding industries is discussed. Suggestions for inter-related development of Korean shipping and shipbuilding industries are given, and means for mutually beneficial collaboration are suggested.

• Journal of Navigation and Port Research
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• v.34 no.8
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• pp.649-657
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• 2010

In order to achieve a sustainable competitive advantage in the expanding maritime transportation market, most shipping companies are making every effort to reduce transportation costs. Likewise, the car shipping companies, which carry more than 80% of total car import and export logistics volume, also do their utmost for transportation cost saving. Until now many researches have been made for efficient maritime transportation, but studies for car shipping companies have rarely been made. For this reason, this study has tried to develop a maritime transportation planning support system which can help to save logistics costs and increase a competitive power of car shipping companies. To this end, instead of manual effort to solve the routing problem of car carrier vessels, this study has proposed a genetic algorithm. The performance of the genetic algorithm will be evaluated by comparing with the optimal solution of integer programming model.

• Proceedings of the Korean Institute of Navigation and Port Research Conference
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• 2012.06a
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• pp.35-37
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• 2012

Working onboard large ocean-going vessels is one of many industries that is by its very nature extremely errorprovoking. In industries such as aviation, nuclear power, healthcare and transport, the need for mental preparedness and professionalism are amongst the qualities essential for the management of complex hazardous systems. Recruiting, training, and more importantly retaining the right people to work in these industries is of paramount importance if safety is to be continuously improved and economic benefits realized. Through consideration of extant empirical literature this paper will explore the need for enhancing collaboration between shipping companies and maritime training institutes in order to provide the industry with those most capable for the job. It will be concluded that by providing a strong maritime foundation from the outset of training, maritime academies in South Korea can provide shipping companies with a wealth of highly qualified, motivated officers who will contribute to safety and remain valuable assets within the industry for years to come.

• Proceedings of the Korean Institute of Navigation and Port Research Conference
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• 2022.11a
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• pp.334-335
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• 2022

Among domestic car carrier operating shipping companies, some shipping companies are operating a stowage planning system that is installed and executed on a computer, and most shipping companies are executing stowage plans with documents such as Excel. This is a study on how to utilize web service technology so that multiple users can use the planning system more efficiently in the cargo stowage planning process for car carriers.

• The Journal of shipping and logistics
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• v.34 no.4
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• pp.615-635
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• 2018

Using data from 2008 to 2017, this study analyzed the financial characteristics of offshore freight shipping companies in Korea, categorized by vessel type, and their impact on business performance. The analysis showed an upward trend in the overall debt ratio of offshore freight transport companies and differences in the financial characteristics of each vessel type as well as the major factors affecting business performance. In particular, the significant factors affecting the ROA performance of the business are the size of business and debt ratio in the LPG line; the growth rate in the bulk line; the size of business, debt ratio, and year in the general freight line; and the size of business, growth rate, entertainment expense rate, debt ratio, and year in the full container line. Therefore, each shipping company needs to recognize differences in key financial factors affecting its performance based on vessel type, implement proactive measures, and diversify its vessel portfolio.

• Journal of Korea Port Economic Association
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• v.31 no.4
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• pp.1-15
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• 2015

During global recessions, such as the 2008 financial crisis, Korean shipping companies have been undergoing a liquidity crisis that is comparably worse than other shipping companies worldwide. One of the reasons behind this repetitive vicious cycle can be the lack of ability to foresee the future by analyzing and understanding the volatile shipping market. Traditionally, in order to assimilate the shipping market, larger Korean shipping companies have been purchasing market reports published by Europe-based research companies and shipping brokers, leading to a digital divide by company size. To resolve this issue, the Maritime Exchange Information Center (MEIC) has been publishing shipping market reports that include essential shipping information such as freight rates by different routes; commodity trends for iron ore, grain, and coal; ship-building trends for new-building, second-hand, and demolition markets; as well as bunker price and port congestion. This research was conducted to analyze the effectiveness of four variables-information usefulness, market reflection, information composition, and latest information-on information satisfaction. If the information satisfaction was found to be adequate, the analysis of actual proof was used to determine if the customers would be willing to purchase MEIC's report when it is chargeable. All the four variables were found to have positive effects on information satisfaction. In particular, latest information was found to directly affect the intention to purchase. Furthermore, high information satisfaction was related to the intention to purchase.

• Journal of Navigation and Port Research
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• v.34 no.7
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• pp.595-601
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• 2010

This paper aims to diagnose the strategy execution ability and to provide corresponding measures for Korean oceanic shipping companies. The analysis method is the t-test between importance awareness and Corresponding ability for strategy execution diagnosis index(XPP). According to the diagnosed results, the strategy development is unsatisfactory because the strategy implemented does not adhere to concurrent environmental change. Moreover, the execution of the strategy is also unsatisfactory. Therefore, an evaluation shows that there is a need for a SWOT analysis using BSC, an organization structure to strengthen the strategy execution ability and the support from the market condition analysis prediction center.

• Journal of Navigation and Port Research
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• v.44 no.3
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• pp.244-252
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• 2020

The 2008 global financial crisis was triggered by the Lehman Brothers crisis caused by the sub-prime mortgage crisis in the United States This crisis has had an impact on the globe's dry bulk shipping market by reducing dry bulk cargo volume. An oversupply of dry bulk carriers caused a serious recession in the globe's dry-bulk shipping industry and shipbuilding industry. In this situation, the Korean dry-bulk shipping companies were victims of the quagmire of a long recession since the global financial crisis and could not overcome this crisis. This condition forced them into severe financial risk Thus, it caused many shipping companies to file for bankruptcy. In this study, we classified Korean ocean-going dry-bulk shipping companies into two groups, that is, the solvent group and the insolvent group. We also separated the research period before and after the 2008 global financial crisis. Then we investigated the differences in the major financial ratios of the two groups by t-test and found that some financial ratios such as profitability ratios and growth ratios showed the difference between the two groups with statistical significance. The significance of this study is as follow. First, the shipping company management is also crucial for the systematic management of financial strength and business strategy, it is crucial to manage cargo which a high profitable freight. Second, the shipping company should be managed as a company with continued growth through efficient operation and management of ships.

• Proceedings of the Korean Institute of Navigation and Port Research Conference
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• v.29 no.1
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• pp.457-463
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• 2005

The use of the internet to facilitate commerce among companies promises vast benefits. Lots of e-marketplaces are building for several industries such as chemistry, airplane, and automobile industries. This study proposed new B2B EC business model for the shipping industry which concerns relatively massive fixed assets to be fully utilized. To be successful the proposed model gives participants to support useful information. To do this the expert system is constructed as the hybrid prediction system of neural network (NN) and memory based reasoning (MBR) with self-organizing map (SOM) and knowledge augmentaton technique using qualitative reasoning (QR). The expert system supports participants useful information coping with dynamic market environment. with this transportation companies are induced to participate in the proposed e-marketplace and helped for exchanges easily. Also participants would utilize their assets fully through B2B exchanges.

• Journal of the Korean Institute of Navigation
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• v.7 no.2
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• pp.115-128
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• 1983

Ship technology has advanced in many diverse directions in recent years, a trend that can be expected to continue. The effect of this both on the physical equipment now being usedand under construction and on the attitude of mind of many of those responsible for its operation is profound. The technological changes in shipping have brought about an increasing trend towrard more delegation of authority from shoreside to ship management. With increased shipboard responsibility the shipping industry would benefit from seeming that more of the management subjects were learned by nautical students. It is clear advantage that companies should draw into their general management structure men with seafaring experience. At the same time the the boards of shipping companies should include more men with high technological qualificatiions and experience.