• Journal of Navigation and Port Research
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• v.39 no.2
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• pp.125-130
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• 2015

Korea is worldwide top manufacturer of offshore plant industry, while shown weakness in high-valued offshore plant service industry (OPSI). The governmental support policies and studies for fostering programs are centered on shipbuilding and engineering sector. On the other hand, offshore logistics service sector among the programs is neither included as governmental fostering support sectors nor ever-studied. Domestic shipping and logistics companies have many experience of handling various project, heavy-lift cargo and even super blocks on shipbuilding industry. However they are faced with lack of appropriate heavy carrier and others. So for their successful entering into offshore plant logistics market, systematic preparation, studies and supporting policies are highly recommended.

• Proceedings of the Korean Institute of Navigation and Port Research Conference
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• 2015.10a
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• pp.253-255
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• 2015

Crude oil is the world's most actively traded commodity and also one of the most significant resources in the world. The impact of oil price volatility has great influences on macroeconomic activities. This presentation is to review and analyze the oil price fluctuation and to examine the effects especially on the offshore oil production and thereafter to look over the challenges and opportunities in this sector focusing on the petroleum logistics.

• Journal of Advanced Marine Engineering and Technology
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• v.39 no.8
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• pp.863-869
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• 2015

This study analyzed the offshore plant industry and related regulations such as ISO, IEC, and Norsok Standards to develop an integrated network management system (INMS) capable of both on-site and remote management and configuration of IP-based network equipment in offshore plants. The INMS was designed based on actual specifications and POS plans, and a plan of management was verified through an offshore plant engineering company. Various modules such as PAGA interface modules, CCTV, IP-PBX, and HF-radio communication modules were developed for system implementation. Protocol and data design and screen design were followed by framework development and introduction of the automatic satellite communication function.

• Journal of Fisheries and Marine Sciences Education
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• v.27 no.1
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• pp.133-144
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• 2015

Recently, Korea shipping companies have been internally/externally difficult to manage their fleet due to the high price of bunker, wage and low cost of charterage and freight. To solve these problems, some shipping companies have tried to set up a new business regarding offshore plant supply vessel(OSV). Owing to the absence of big oil field near the Korea coast, OSV market has not been gradually progressing as far. This study intends to review the legal review of both international and municipal law for the OSV. Therefore I have provided basic legal information to the domestic shipping companies which have desired to enter the OSV's market and suggest legal revision harmoniously to identify the problem in the municipal law.

• Ocean Systems Engineering
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• v.4 no.2
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• pp.137-150
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• 2014

In the marine industry although there has been significant growth towards safety, security and risk assessments or risk-based strategies such as marine insurance and regulations to avoid the risks of damage to properties and the environment or the prospect of premature death caused by accidents etc, the moves toward managing the risks which are linked directly to the business functions and decision making processes have been very slow. Furthermore in the marine industry most perceptions, methodologies and frameworks of dealing with hazards, risks, safety and security issues are for their assessment rather than their management. This trend reveals the fact that in different marine industry sectors such as logistics and shipping there is a lack of coherent risk management framework or methodology from which to understand the risk-based decisions especially for the purpose of design, construction, operation, management and even decommissioning of the marine related applications. On the other hand risk management is not yet viewed holistically in the marine industry in order to, for example, assign a right person, i.e. risk manager, who can act as a coordinator and advisor with responsibilities that are only specific to risk management. As a result this paper, by examining the present physical borders and risk-based activities in the marine industry, aims to propose an appropriate risk management methodology in addition to the emergent role of risk managers which will enable the industry users initially to become familiar with the concept of risk management at its holistic level. In the later stages this eventually can lead to development of risk management capabilities at an exclusive level and its integration into the marine industry functions in future.

• Journal of Navigation and Port Research
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• v.43 no.6
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• pp.462-468
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• 2019

Offshore oil production faces several difficulties caused by oil price decline and unexpected changes in the global petroleum logistics. This paper suggests a stochastic model for optimizing the offshore oil production under uncertainty. The proposed model incorporates robust optimization and restricted recourse framework, and uses the lower partial mean as the measure of variability of the recourse profit. Some computational experiments and results based on the proposed model using scenario-based data on the crude oil price and demand under uncertainty are examined and presented. This study would be meaningful in decision-making for the offshore oil production problem considering risks under uncertainty.

• Journal of Korea Port Economic Association
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• v.33 no.2
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• pp.83-96
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• 2017

As a way to address global warming, among the renewable energy sources, there have been heavy investments worldwide for the development of offshore wind farms. However, such development has a drawback: investment costs are higher than those for onshore wind farms due to required operations such as offshore transportation and installation. In particular, delays in installation due to adverse maritime weather conditions are factors that affect the economics of offshore wind farms' operation. Therefore, in this study, we analyze the optimal schedule of the construction of an offshore wind farm from a macro perspective by considering the weather conditions in Korea. For this purpose, we develop a mathematical model and apply it to a 2.5 GW offshore wind farm project on the southwestern coast of the country. We use data from the Korea Meteorological Agency for maritime weather conditions and attempt to reflect the actual input data based on precedent cases overseas. The results show that it takes 6 months to install 35 offshore wind turbines. More specifically, it is pointed out that it is possible to minimize costs by not working in winter.

• 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.34 no.2
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• pp.51-68
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• 2018

This paper compares the differences in management performance in the logistics market and analyzes the differences in business characteristics depending on the industry types. In addition, the effects of industry types and business characteristics on management performance are examined. The analysis method used is ANOVA and K-means clustering. The implication of the study are as follows. First, in the logistics market in Japan, there was a difference in management performance among the types of industry. The warehousing service type had the highest profitability and stability among all the industry types. Second, differences in business characteristics by industry types were tested. It was found that offshore cargo transportation type was more capital intensive than the other types. In addition, warehousing service type had higher business leadership and credit transaction than others. Third, industry types and clusters based on business characteristics had a significant impact on management performance through interaction effects. For the profitability variables in detail, other clusters had a significant effect between transportation types(onshore and offshore cargo) and warehousing service type. On the other hand, in stability variables, one cluster was effective in all types, which is a characteristic that lowers both capital intensity and business leadership.

• Journal of Korea Port Economic Association
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• v.24 no.2
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• pp.241-263
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• 2008

Since the outsourcing logistics business has been an emerging opportunities for many new service providers entering into such an ever-changing technology, knowledge and logistics market, it has resulted into a price-sensitive and high competition industry. In order to sharpen the global competitive power of the information-contents business in this severe environment, this research is engaged in meeting the following purposes: 1. well position the outsourcing logistics services in the logistics business industry 2. articulate the business model to compete in the outsourcing logistics services market, Information-contents industry. 3. propose a competitive strategy for a outsourcing logistics services provider to grow the information-contents business. This research report could also serve as a framework for the other logistics and the outsourcing services companies to plan out their competitive strategies of information-contents industry. For new comers to join the same market, it will be also helpful in positioning their services and making business decisions in a holistic view.