• The Transactions of the Korea Information Processing Society
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• v.7 no.8
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• pp.2310-2326
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• 2000

Client-server DBMS based on a data-shipping model can exploit e1ient resources effectively by allowing inter-transaction caching. However, inter-transaction caching raises the need of transactional cache consistency maintenancetTCCM protocol. since each client is able to cache a portion of the database dynamically. Deferred locking(DL) is a new detection-based TCCM scheme designed on the basis of a primary copy locking algorithm. In DL, a number of lock ,ujuests and a data shipping request are combined into a single message packet to minimize the communication overhead required for consistency checking. Lsing a simulation model. the performance of the prolxlsed scheme is compared with those of two representative detection based schemes, the adaptive optimistic concurrency control and the caching two-phase locking. The performance results indicate that DL improves the overall system throughput with a reasonable transaction abort ratio over other detection - based schemes.

• The Journal of shipping and logistics
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• v.34 no.4
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• pp.545-563
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• 2018

This study analyzes the major factors affecting the freight rates of Very Large Crude-Oil Carriers (VLCC) using co-integration and vector error correction models (VECM). Particularly, we estimate the long-term equilibrium function that determines the VLCC freight rate by conducting difference conversion. In the VECM regression analysis, the error term converges toward long-term balance irrespective of whether the previous period's freight rate is bigger or smaller than the long-term equilibrium rate. Thus, even if the current rate is different from the long-term rate, it eventually converges to the long-term balance irrespective of a boom or recession. This study follows Ko and Ahn (2018), which analyzed the factors affecting the chemical carrier freight rate and was published in the Journal of Shipping and Logistics (Vol. 34, No. 2). It is expected that an academic comparison of the results of each study will be possible if further research is conducted on other vessel types, such as container ships and dry cargo vessels.

• The Journal of shipping and logistics
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• v.35 no.1
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• pp.21-50
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• 2019

The aim of this study is to analyse a characteristic analysis of coastal passenger vessels' voyage scheduling using the Panel Regression Analysis. The GLS and Fixed Effect Analysis show that the number of canceled flights and passenger transport performance have a positive impact on the voyage scheduling, and that the freight transport performance and freight income vary from model to model. Also, through the LSDV and OLS analysis, the trend of cluster formation by regional office was confirmed. This indicates that there are frequent changes in passenger ship companies and ships, and in-depth plans are needed in various respects rather than the expansion of unconditional ships. Subsequent studies need to generate more detailed and practical results by further analysis of detailed factors, dividing them by route and vessel type.

• Journal of Navigation and Port Research
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• v.40 no.6
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• pp.451-458
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• 2016

Since Modigliani and Miller developed their theory of capital structure in 1958, it has become one of the most debated issues in corporate management. This is because the capital structure decision necessarily affects financial risk and the firm's value. Throughout the research, one of the most concerning problems is determining what factors influence the firm's capital structure. Since Korean shipping firms have been suffering from a long term economic recession, an optimal capital structure has become increasingly critical to survive in the shipping industry. This paper studies panel data on 46 Korean shipping companies since 2000 to find the factors that affect capital structure. The results suggest that a negative relationship arises between firm size, tangible assets, profitability and non-debt tax shields against leverage. Otherwise, it proved that growth opportunity has a positive relationship with the firm's leverage. In the research model during a booming shipping economy, growth opportunity and non-debt tax shield are not associated with firm's capital structure.

• Journal of Korea Port Economic Association
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• v.28 no.1
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• pp.1-23
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• 2012

Advances in information technology has brought many benefits to businesses, but at the same time, businesses are facing serious problems caused by its use such as information leakage. In order to cope with problems, companies have established information security policies, demanding workers of a company to be compliant with the policies. This study proposes a research model that includes information security awareness, information security attitude, self-efficacy, standard belief and social influences as factors that affect the compliance of information security policy among the workers of shipping and port organization. The results of this study showed that there was a positive relationship not only between the information security awareness and the information security attitude, but also between the information security attitude and the information security policy among the workers of shipping and port organization. It was also found that there was a positive relationship between the self-efficacy and the compliance of information security policy, and between the social influence and the compliance of information security policy. However, there was no meaningful relationship between the standard belief and the compliance of information security policy. This study examined to what extent the workers of shipping and port organization that have a high possibility of the information leakage were compliant with the information security policy. The findings will contribute to organizations of shipping and port who attempt to establish strategies related to information security.

• Journal of Korea Port Economic Association
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• v.36 no.4
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• pp.93-106
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• 2020

Trade is an important economic activity. In particular, since the establishment of the World Trade Organization (WTO), the scope of trade has been expanding due to events such as the entry of China into the WTO in 2001, the establishment of a multilateral trading system, mitigation and integration of trade barriers, and the establishment of the free trade agreement (FTA). Despite the expansion of the trade market, however, extreme events such as the 2008 global financial crisis, the 2016 Brexit, and the 2018 US-China trade war have had a direct negative impact on the trade market. Therefore, the present this study analyzed the dependence structure between the international shipping freight rate index, a variable representing trade activities, and the trade uncertainty between the US and China. The following is a summary of the analysis results. First, the US-Chinese trade policy uncertainty and international shipping freight rate index presented a Frank copula and rotated Clayton copula 270° distribution, respectively, showing the same distribution structure for each country. Second, the Kendall's tau correlation revealed a negative dependence between the international shipping freight rate index and US-Chinese trade policy uncertainty. The degree of dependence was greater in the combination of uncertainty in China's trade policy and international shipping freight rates. In other words, the dependence of global demand and trade policy uncertainty confirmed that China was stronger than the US. Finally, the tail dependence results revealed that the US-Chinese trade policy uncertainty and international shipping freight rates were independent of each other. This means that extreme events related to the trade policy uncertainty or international shipping rate index were not affected by each other.

• Journal of Digital Convergence
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• v.17 no.4
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• pp.95-105
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• 2019

The failure of company management that does not overcome the recession of shipping economy has negative impact on front-end and back-end industries in relation to shipping industry overall. This study aims to derive a measure of government policy support for win-win of ship owners and shippers by performing a survey with experts in ship owners, shippers, and port-related institutions. This study employed a consistent fuzzy preference relation (CFPR) method to provide the priority of government policies. The study results showed that out of all 14 policies, the policy perceived most important was "expansion of participation in share of shipping company or ships of shipper (0.102)" followed by "strengthening of national shipper-centered service quality (0.101)", and "providing a long-term transportation contract model of container cargo (0.085)". To recover the Korean shipping industry via win-win of ship owners and shipper, the policy enforcement is important through correct government policy establishment and priority selection. In this regard, this study contributed to proposing policies and priority of the policies. For the future study, detailed analysis on comparison of perception difference among stakeholders in the shipping industry is needed.

• Journal of Korea Port Economic Association
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• v.36 no.4
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• pp.17-30
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• 2020

In the shipping industry, it is essential to engage in the preemptive prediction of freight rate volatility through market monitoring. Considering that freight rates have already started to fall, the loss of shipping companies will soon be uncontrollable. Therefore, in this study, factors affecting the freight rates of bulk carriers, which have relatively large freight rate volatility as compared to container freight rates, were quantified and analyzed. In doing so, we intended to contribute to future shipping market monitoring. We performed an analysis using a vector error correction model and estimated the influence of six independent variables on the charter rates of bulk carriers by Handy Size, Supramax, Panamax, and Cape Size. The six independent variables included the bulk carrier fleet volume, iron ore traffic volume, ribo interest rate, bunker oil price, and Euro-Dollar exchange rate. The dependent variables were handy size (32,000 DWT) spot charter rates, Supramax 6 T/C average charter rates, Pana Max (75,000 DWT) spot charter, and Cape Size (170,000 DWT) spot charter. The study examined charter rates by size of bulk carriers, which was different from studies on existing specific types of ships or fares in oil tankers and chemical carriers other than bulk carriers. Findings revealed that influencing factors differed for each ship size. The Libo interest rate had a significant effect on all four ship types, and the iron ore traffic volume had a significant effect on three ship types. The Ribo rate showed a negative (-) relationship with Handy Size, Supramax, Panamax, and Cape Size. Iron ore traffic influenced three types of linearity, except for Panamax. The size of shipping companies differed depending on their characteristics. These findings are expected to contribute to the establishment of a management strategy for shipping companies by analyzing the factors influencing changes in the freight rates of charterers, which have a profound effect on the management performance of shipping companies.

• Proceedings of the Korean Institute of Navigation and Port Research Conference
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• 2002.03a
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• pp.31-37
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• 2002

• Journal of Environmental Science International
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• v.10 no.5
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• pp.343-350
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• 2001

To investigate air quality away from the coastal urban source region, we used a hybrid Eulerian - Lagrangian method which can describe the formation, transport, transform and deposition processes in complex terrain, with inclusion of shipping sources that were considered to be important emission in the coastal urban region. The result of the Eulerian advection - diffusion prediction was quite similar to that of the Lagrangian particle diffusion prediction. It showed that pollutants emitted from Sasang and Janglim industrial complexes can affect Hwamyeong and the coastal, respectively. During the daytime the concentration was low due to large deposition flux and terrain effect.