• Journal of Navigation and Port Research
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• v.46 no.4
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• pp.375-384
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• 2022

The shipping industry is cyclically impacted by complex variables such as various economic indicators, social events, and supply and demand. The purpose of this study was to analyze the operating profit of 13 Korean liner companies over 30 years, including the financial crisis of the late 1990s, the global financial crisis of the late 2000s, and the COVID-19 global pandemic. This study was conducted to also identify factors that impacted the profit ratio of Korea's liner shipping companies according to economic conditions. It was divided into ocean-going and short-sea shipping, reflecting the characteristics of liner shipping companies, and was analyzed by hierarchical multiple regression analysis. The time series data are based on the Korean International Financial Reporting Standards (K-IFRS) and comprise seaborne trade volume, fleet evolution, and macroeconomic indicators. The outliers representing the economic downturn due to social events were separately analyzed. As a result of the analysis, the China Container Freight Index (CCFI) positively impacted ocean-going as well as short-sea liner shipping companies. However, the Korean container shipping volume only impacted ocean-going liners positively. Additionally, world and Korea's GDP, world seaborne trade volume, and fuel price are factored in the operating profit of short sea liner shipping. Also, the GDP growth rate of China, exchange rate, and interest rate did not significantly impact both groups. Notably, the operating profitability of Korea's liner shipping shows an exceptionally high rate during the recessions of 1998 and 2020. It is paradoxical, and not correlated with the classical economic indicators. Unlike other studies, this paper focused on the operating profit before financial expenses, considering the complexity as well as difficulty in forecasting the shipping cycle, and rendered conclusions using relatively long-term empirical analysis, including three economic shocks.

• Journal of Navigation and Port Research
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• v.31 no.1 s.117
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• pp.7-14
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• 2007

Recently, freight floe between south and north Korea is rising rapidly by increasing cf economical exchange between two Korea and growth of Gaeseoung Industrial Complex. Considering this trend of economic cooperation between two Korea, in addition to a land transportation route it is necessary to secure various logistics and transportation route. A barge transport system which has many merits such as a little initial investment and convenience of harbor loading/unloading has been also used to transport freight widely in the EU and USA. In this paper, firstly, a Gaeseoung industrial complex and its cargo transport are investigated and several candidate shipping routes which are using barge transportation system are proposed. And also we investigate a technical feasibility on a realistic possibility of shipping routes by some investigation activities. Finally, a suitable barge system of candidate shipping route(1) and(2) is proposed in this paper.

• Journal of Navigation and Port Research
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• v.32 no.3
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• pp.185-192
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• 2008

This paper firstly aims to classify the applicability of the Balanced Scorecard approach to Korean ocean-going shipping firms' management system. The applicability of this approach from Korean shipping firms using Balanced Scorecard will create more effective and efficient organizational performance with reflecting non-financial indexes and making a balance among missions in organization. Secondly, the paper suggests positive information and theoretical evidences to improve Korean shipping firms' management system with examining an availability of the Balanced Scorecard as one method of management tools. So these factors are analysed by structural equation model. This study provides CEO in Korean ocean-going shipping firm the guideline and availability of the Balanced Scorecard as to what kinds of factors should be considered and what is the most critical factor to adopt the BSC into their business.

• Journal of the Society of Naval Architects of Korea
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• v.49 no.6
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• pp.447-460
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• 2012

In this study, the shutdown system of the fuel gas supply system is designed based on the Safety Integrity Level of IEC 61508 and IEC 61511. First of all, the individual risk($10^{-4}$/year) and the risk matrix which are the risk acceptance criteria are set up for the qualitative risk assessment such as the HAZOP study. The natural gas leakage at the gas supply pipe is identified as the highest risk among the hazards identified through the HAZOP study and as a safety instrumented function the shutdown function for leakage was defined. SIL 2 and PFD($2.5{\cdot}10^{-3}$) for the shutdown function are determined by the layer of protection analysis(LOPA). The shutdown system(SIS) carrying out the shutdown function(SIF) is verified and designed according to qualitative and quantitative requirements of IEC 61508 and IEC 61511. As a result of SIL verification and SIS conceptual design, the shutdown system is composed of two gas detectors voted 1oo2, one programmable logic solver, and two shutdown valve voted 1oo2.

• Journal of Ocean Engineering and Technology
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• v.17 no.6
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• pp.96-100
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• 2003

For moving cargo between the North Pacific region and Northern European ports, the Northern Sea Route, along Russia's coastline, is 35-60％ shorter than the traditionally used routes through the Suez or Panama Canals. in addition to its shorter distance, there exist extensive ports und shipping infrastructure, and the potential for developing new markets in Russia and other northern countries including Korea and Japan. These incentives attracted considerable attention from the international shipping and shipbuilding industries and have formed a cooperative international research program, called as the International Northern Sea Route Programme (INSROP) This paper is a general compilation of the historical usage, recent trade developments, the physical environment, and the practical considerations that may shape future operational mode of shipping in the NSR based on results from INSROP reports. This study focuses mainly on an operation of commercial icebreaking cargo vessels that may be utilized along the NSR.

• Proceedings of the Korean Institute of Navigation and Port Research Conference
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• 2004.04a
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• pp.321-332
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• 2004

The purpose of this research is to introduce the concept of "relationship formation factors" in inter-firm relations and to empirically demonstrate that they are effective in improving the relationship results by means of anmediating variable. Therefore, the basic model of this study consists of the independent, mediating, and dependent variables. First, the independent variable, that is, the relationship formation factors, is further classified into three components： transactional, relational, environmental characteristics. Then, the study empirically examines how each of the three components influences the dependent variable, that is, the business performance(Load Factor), by way of the mediating variables, that is, trust and relationship commitment.

• Journal of Navigation and Port Research
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• v.28 no.5
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• pp.373-384
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• 2004

The purpose of this research is to introduce the concept of "relationship formation factors" in inter-firm relations and to empirically demonstrate that they are effective in improving the relationship results by means of an mediating variable. Therefore, the basic model of this study consists of the independent, mediating, and dependent variables. First, the independent variables, that is, the relationship formation factors, are further classified into three components. transactional, relational, and environmental characteristics. Then, the study empirically examines how each of the three components influences the dependent variable. that is, the business performance(Load Factor), by way of the mediating variables, that is, trust and relationship commitment.

• Journal of Advanced Research in Ocean Engineering
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• v.4 no.4
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• pp.204-216
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• 2018

A ship repeatedly face free surface under rough sea conditions owing to relative motion with wave encounter. The impact pressure is transferred to the hull structure and causes structural damage. In this study, the bow flare slamming load of a container ship is estimated using computations fluid dynamics (CFD) and prescript formula according to various classifications. It is found that the bow flare slamming load calculated by the formulas of the common structural rule and ABS tends to be similar to the CFD results.

• Proceedings of the Korea Institute of Fire Science and Engineering Conference
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• 2007.04a
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• pp.259-263
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• 2007

• Journal of Ship and Ocean Technology
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• v.10 no.3
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• pp.36-48
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• 2006

The train ferry, accommodating trains roll on and off, is often called as 'Railway on the Sea' or 'Blue High-way' since she can connect the railways or roads segregated by the sea and improve the accessibility and continuity of land transport systems. The ferry is especially appropriate to the intermodal transport routes mostly passing through the land but have relatively short sea segment. As the train ferry can considerably reduce the cost and time for cargo handling and modal shift and unnecessitates excessive initial investment on infrastructures such as large harbor cranes or vast container yards, introduction of train Ro-Ro ferries lessen the total transport cost for door-to-door transportation with full exploitation of the existing railway system. All the ports placed in Shandong, Liaoning and Jiangsu provinces of China are connected to the hinterlands via well developed railway and road systems. Therefore, realization of the Incheon-Yantai train ferry system will link Korea railways to TCR and the 4,131-kilometer-long Longhai-Lanxin Railway, along the famous Eurasian Continental Bridge. In the present paper, the Incheon-Yantai train ferry will be introduced as a good example of an efficient multimodal short sea shipping system for Northeast Asia.