• Title/Summary/Keyword: shipping model

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A Business Model for Offshore Integrated Drilling Commissioning in Korea and Related Economic Analysis (우리나라 해양시추설비 통합시운전 사업 모델의 개발 및 경제성 분석에 관한 연구)

  • Lee, Chang-Woo;Cheon, Young-Wook;Shin, Sang-Hoon;Shin, Yong-John
    • Journal of the Korean Society of Marine Environment & Safety
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    • v.25 no.1
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    • pp.102-110
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    • 2019
  • The shipbuilding and offshore plant industry of Korea is important and leads Korea's economic growth, designated as the 1st to 4th export items in Korea in terms of export contribution over the period from 2011 to 2015. This study proposes ways to improve the national competitiveness of Korean shipyards in the global offshore drilling market by reviewing a business model for providing an integrated offshore drilling commissioning service in Korea. This commissioning service model, which was attempted in 2014, was reviewed, and a new proposed business model for overcoming the limitations of the previous model and activating further business was evaluated. As a result of an economic evaluation, it was found that a 150-meter water depth model is economically more effective. As the number of integrated commissions increased from 2 to 5 times per year, NPV, IRR and B/C ratios increased and the fee per use decreased. Therefore, for offshore drilling facilities constructed and delivered in Korea, it will be necessary to encourage integrated offshore commissioning.

Development of Ship Valuation Model by Neural Network (신경망기법을 활용한 선박 가치평가 모델 개발)

  • Kim, Donggyun;Choi, Jung-Suk
    • Journal of the Korean Society of Marine Environment & Safety
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    • v.27 no.1
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    • pp.13-21
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    • 2021
  • The purpose of this study is to develop the ship valuation model by utilizing the neural network model. The target of the valuation was secondhand VLCC. The variables were set as major factors inducing changes in the value of ship through prior research, and the corresponding data were collected on a monthly basis from January 2000 to August 2020. To determine the stability of subsequent variables, a multi-collinearity test was carried out and finally the research structure was designed by selecting six independent variables and one dependent variable. Based on this structure, a total of nine simulation models were designed using linear regression, neural network regression, and random forest algorithm. In addition, the accuracy of the evaluation results are improved through comparative verification between each model. As a result of the evaluation, it was found that the most accurate when the neural network regression model, which consist of a hidden layer composed of two layers, was simulated through comparison with actual VLCC values. The possible implications of this study first, creative research in terms of applying neural network model to ship valuation; this deviates from the existing formalized evaluation techniques. Second, the objectivity of research results was enhanced from a dynamic perspective by analyzing and predicting the factors of changes in the shipping. market.

Analysis on Tax Benefits of Tax Lease Scheme for Ships (선박 조세 리스제도의 세제혜택효과 분석)

  • Cho, Kyu-Yeol;Lee, Ki-Hwan
    • Journal of Korea Port Economic Association
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    • v.36 no.2
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    • pp.63-86
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    • 2020
  • The tax lease scheme for ships is an advanced ship financing tool that generates tax benefits through accelerated depreciation of capital allowances and transferring them to the ship operator (leasee) via reductions in rental payments. The scheme was introduced by Japan in 1978 and by France in 1998 to support their shipping and shipbuilding industries. The size of tax benefits varies by country depending on the depreciation rate for ships, corporate tax rate, and the tax system on profits from the sale of ship. This study uses a virtual model of the Korean tax lease scheme for ships based on the French tax lease scheme. The size of tax benefits is calculated and compared to those in the French and Japanese tax lease schemes. According to the analysis, the size of the tax benefit was approximately 19% for France, 14% for Japan, and 12% for Korea. This is differentiated by the country's depreciation rate and corporate tax rate, which have the greatest impact on the size of tax benefits. For the Korean virtual model, if the tax benefits are distributed by the operator and the investor at the rate of 75:25, the operator is expected to enjoy tax benefits equivalent to about 9% of the ship price and the investor to enjoy 3%. Despite limited information and data regarding the tax lease scheme for ships, this study was the first attempt in Korea to design a virtual model of the Korean tax lease scheme based on some predictable assumptions. Therefore, a group of shipping, financing, and legal experts will follow up on more professional and practical reviews of the model in the near future. Hence, this study will serve as a small contribution to the early introduction of the Korean tax lease scheme for ships.

Analyzing the Impact of Emission Control Area (ECA) Enforcement on Ferry Companies' Financial Performance : Network SBM DEA and BTR model (배출규제해역(ECA) 시행이 페리 선사의 재무성과에 미치는 영향: Network SBM DEA 및 BTR 모형 분석)

  • Lee, Suhyung;Lim, Hyunwoo
    • Journal of Korea Port Economic Association
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    • v.38 no.3
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    • pp.29-51
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    • 2022
  • The International Maritime Organization (IMO) designated the Emission Control Area (ECA) in Northern Europe to reduce the NOx and SOx emissions from ships in the coastal areas. This study used Network slack-based measure (SBM) Data Envelopment Model (DEM) and Bootstrop Truncated Regression (BTR) model to analyze the ECA's impact on ferry companies' financial performances based on the financial data from eight ferry carriers in Northern Europe, the Mediterranean and North America from 2004 to 2017. To alleviate the problem of arbitrary variable selection in DEA, the variable selection criteria proposed by Dyson et al. (2001) were applied; the size of the company was considered through the Network SBM DEA model; and the company's profit-generating process was divided into stages to measure financial performance in more detail. In addition, the BTR model was applied to derive results that minimize the bias of the data. The study found that ECA regulations did not always negatively affect the shipping companies' financial performance. Rather, a steady increase in efficiency was observed for Northern European ferry companies which were subject to the strongest regulations. For North American ferry companies, government subsidies were found to have a significant impact on efficiency, and relatively small impact on efficiency due to the ECA and oil prices. For the Mediterranean ferry companies, efficiency values have decreased since the implementation of ECA regulation despite the lowest level of regulation in the region.

A Study on the Strategy of IoT Industry Development in the 4th Industrial Revolution: Focusing on the direction of business model innovation (4차 산업혁명 시대의 사물인터넷 산업 발전전략에 관한 연구: 기업측면의 비즈니스 모델혁신 방향을 중심으로)

  • Joeng, Min Eui;Yu, Song-Jin
    • Journal of Intelligence and Information Systems
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    • v.25 no.2
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    • pp.57-75
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    • 2019
  • In this paper, we conducted a study focusing on the innovation direction of the documentary model on the Internet of Things industry, which is the most actively industrialized among the core technologies of the 4th Industrial Revolution. Policy, economic, social, and technical issues were derived using PEST analysis for global trend analysis. It also presented future prospects for the Internet of Things industry of ICT-related global research institutes such as Gartner and International Data Corporation. Global research institutes predicted that competition in network technologies will be an issue for industrial Internet (IIoST) and IoT (Internet of Things) based on infrastructure and platforms. As a result of the PEST analysis, developed countries are pushing policies to respond to the fourth industrial revolution through cooperation of private (business/ research institutes) led by the government. It was also in the process of expanding related R&D budgets and establishing related policies in South Korea. On the economic side, the growth tax of the related industries (based on the aggregate value of the market) and the performance of the entity were reviewed. The growth of industries related to the fourth industrial revolution in advanced countries overseas was found to be faster than other industries, while in Korea, the growth of the "technical hardware and equipment" and "communication service" sectors was relatively low among industries related to the fourth industrial revolution. On the social side, it is expected to cause enormous ripple effects across society, largely due to changes in technology and industrial structure, changes in employment structure, changes in job volume, etc. On the technical side, changes were taking place in each industry, representing the health and medical sectors and manufacturing sectors, which were rapidly changing as they merged with the technology of the Fourth Industrial Revolution. In this paper, various management methodologies for innovation of existing business model were reviewed to cope with rapidly changing industrial environment due to the fourth industrial revolution. In addition, four criteria were established to select a management model to cope with the new business environment: 'Applicability', 'Agility', 'Diversity' and 'Connectivity'. The expert survey results in an AHP analysis showing that Business Model Canvas is best suited for business model innovation methodology. The results showed very high importance, 42.5 percent in terms of "Applicability", 48.1 percent in terms of "Agility", 47.6 percent in terms of "diversity" and 42.9 percent in terms of "connectivity." Thus, it was selected as a model that could be diversely applied according to the industrial ecology and paradigm shift. Business Model Canvas is a relatively recent management strategy that identifies the value of a business model through a nine-block approach as a methodology for business model innovation. It identifies the value of a business model through nine block approaches and covers the four key areas of business: customer, order, infrastructure, and business feasibility analysis. In the paper, the expansion and application direction of the nine blocks were presented from the perspective of the IoT company (ICT). In conclusion, the discussion of which Business Model Canvas models will be applied in the ICT convergence industry is described. Based on the nine blocks, if appropriate applications are carried out to suit the characteristics of the target company, various applications are possible, such as integration and removal of five blocks, seven blocks and so on, and segmentation of blocks that fit the characteristics. Future research needs to develop customized business innovation methodologies for Internet of Things companies, or those that are performing Internet-based services. In addition, in this study, the Business Model Canvas model was derived from expert opinion as a useful tool for innovation. For the expansion and demonstration of the research, a study on the usability of presenting detailed implementation strategies, such as various model application cases and application models for actual companies, is needed.

A Study on the Measuring Model of Productivity Using DEA in Container Terminal (DEA 기법을 활용한 컨테이너터미널 생산성 측정에 관한 연구)

  • Lee Sun Yong;Choi Hyung Rim;Park Nam Kyu;Kwon Hae Kyoung;Lim Sung Taek
    • Proceedings of the Korean Institute of Navigation and Port Research Conference
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    • 2004.11a
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    • pp.331-336
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    • 2004
  • In order to strengthen the competitiveness of port against calling for the huge vessel and reducing the shipping service time, the productivity of container terminal must be improved. This productivity variously results according to the kinds of productivity evaluation model, input elements like yard, equipment, employee, facility, etc,. But, it is discussed that the productivity is measured by partial productivity evaluation model or general input elements. Therefore, we measured for the productivity of the container terminal using the Developed the data Envelopment Analysis (DEA), which is developed in order to evaluate the relative efficiency of decision making units - it's difficult to clear cause and effect between input and output. We measured the whole productivity of container terminal in Busan according to decision of the correct input elements. And we investigated the change of the productivity measurement result according to input elements, presents more accurate productivity evaluation model in container terminal.

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A Study on the Model Specification for Supply-Demand Forecast of Hallabong Tangor in Korea (한라봉 수급전망 모형 개발 연구)

  • Ko, Seong-Bo;Kim, Bae-Sung
    • Journal of the Korea Academia-Industrial cooperation Society
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    • v.13 no.11
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    • pp.5163-5168
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    • 2012
  • The aim of this study is to develop the supply-demand model(dynamic recursive simulation model) on the Hallabong tangor. In order to analyze the effects of alternative policy scenarios on the Hallabong tangor sector. Simulation runs were experimented for the period, 2011~2021, with three different scenarios. The major simulation results are as follows. The results of baseline show that in the year, 2021, acreage, production, price received by farm would be 2,051.5ha, 62,049.1 ton, 2,537.4 won per kg respectively. The results of scenario I (shipping control scenario) show that in the year, 2021, acreage, production, price received by farm would be 2,079.4ha, 62,984.9 ton, 2,836.3 won per kg respectively. The results of scenario II(the rate of economic growth 3.5%) show that in the year, 2021, acreage, production, price received by farm would be 2,039.5ha, 61,647.5 ton, 2,417.3 won per kg respectively. Finally, The results of scenario III(Survey of experts) show that in the year, 2021, acreage, production, price received by farm would be 2,053.7ha, 62,124.4 ton, 2,574.8 won per kg respectively. Therefore, economic recession can be a negative role in the industrial growth and price of Halabong tangor, but expansion of Hallabong tagor's export and processing can be a very positive role in the industrial growth and price of Halabong tangor.

Growth curve estimates for wither height, hip height, and body length of Hanwoo steers (Bos taurus coreanae)

  • Park, Hu-Rak;Eum, Seung-Hoon;Roh, Seung-Hee;Sun, Du-Won;Seo, Jakyeom;Cho, Seong-Keun;Lee, Jung-Gyu;Kim, Byeong-Woo
    • Korean Journal of Agricultural Science
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    • v.44 no.3
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    • pp.384-391
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    • 2017
  • Growth curves in Hanwoo steers were estimated by Gompertz, Von Bertalanffy, Logistic, and Brody nonlinear models using growth data collected by the Hanwoo Improvement Center from a total of 6,973 Hanwoo (Bos taurus coreanae) steers 6 to 24 months old that were born between 1996 and 2015. The data included three parameters: A, mature size of body measurement; b, growth ratio; and, k, intrinsic growth rate. Nonlinear regression equations for wither height according to Gompertz, Von Bertalanffy, Logistic, and Brody models were $Y_t=144.7e^{-0.5869e^{-0.00301t}}$, $Y_t=145.3(1-0.1816e^{-0.00284t})^3$, $Y_t=143.1(1+0.7356e^{-0.00352t})^{-1}$, and $Y_t=146.8(1+0.4700e^{-0.00249t})^1$, respectively, while those for hip height were $Y_t=144.5e^{-0.5549e^{-0.00312t}}$, $Y_t=145.0(1-0.1724e^{-0.00295t})^3$, $Y_t=143.1(1+0.6863e^{-0.00360t})^{-1}$, and $Y_t=146.2(1+0.4501e^{-0.00263t})^1$, respectively. Equations for body length $Y_t=174.1e^{-0.8342e^{-0.00289t}}$, $Y_t=175.8(1-0.2500e^{-0.00265t})^3$, $Y_t=170.0(1+1.1548e^{-0.00363t})^{-1}$, and $Y_t=180.3(1+0.6077e^{-0.00215t})^1$, respectively, for the same models. Among the four models, the Brody model resulted in the lowest mean square error, with mean square errors of 31.79, 30.57, and 42.13, respectively, for wither height, hip height, and body length. Also, an estimated birth wither height, birth hip height, and birth body length (77.98, 80.57, and 70.97 cm, respectively) were lower in the Brody model than in other models. An inflection point was not observed during the growth phase of Hanwoo steer according to the growth curves calculated using Gompertz, Von Bertalanffy, and Logistic models. Based on the results, we concluded that the regression equation using the Brody model was the most appropriate among the four growth models. To obtain more accurate parameters, however, using data from a wider production period (from birth to shipping) would be required, and the development of a suitable model for body conformation traits would be needed.

A Study on the Industrial Competitiveness Analysis of Domestic Autonomous Operation Technology Industry Based on the Porter's Diamond Model (국내 자율운항기술 분야의 산업경쟁력 분석 연구 - 포터(Porter)의 다이아몬드 모델을 기반으로)

  • PARK, Hye-Ri;PARK, Han-Seon
    • Journal of Navigation and Port Research
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    • v.46 no.3
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    • pp.203-208
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    • 2022
  • Recently, various digital technology issues such as e-Navigation, Maritime Autonomous Surface Ship (MASS) and Smart ships have constantly emerged in the maritime industry, based on the fourth industrial revolution. The International Maritime Organization is gradually tightening regulations for marine safety and marine environmental protection, and these strengthened regulations are leading to new maritime industries. Thus, the purpose of this study was to design a suitable model to analyze the industrial competitiveness of domestic autonomous operation technology industry, based on the Porter's diamond model. Based on a total of five evaluation factors and 13 detailed factors, the industrial competitiveness of the domestic autonomous operation technology industry was evaluated qualitatively and quantitatively. This industry, which is in the early stage of industrial development, was evaluated as 16.9 points relative to indexing industrial competitiveness. Currently, it is characterized by the simultaneous development of related regulations and core technologies, from the establishment of the scope of the industry. The industrial competitiveness evaluation considering these industrial characteristics is expected to serve as the basis for strategic support and new industrial policy, and impact a wide range of related industries such as shipping, logistics, ports, and shipbuilding and equipment industries.

Performance Assessment of Two-stream Convolutional Long- and Short-term Memory Model for September Arctic Sea Ice Prediction from 2001 to 2021 (Two-stream Convolutional Long- and Short-term Memory 모델의 2001-2021년 9월 북극 해빙 예측 성능 평가)

  • Chi, Junhwa
    • Korean Journal of Remote Sensing
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    • v.38 no.6_1
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    • pp.1047-1056
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    • 2022
  • Sea ice, frozen sea water, in the Artic is a primary indicator of global warming. Due to its importance to the climate system, shipping-route navigation, and fisheries, Arctic sea ice prediction has gained increased attention in various disciplines. Recent advances in artificial intelligence (AI), motivated by a desire to develop more autonomous and efficient future predictions, have led to the development of new sea ice prediction models as alternatives to conventional numerical and statistical prediction models. This study aims to evaluate the performance of the two-stream convolutional long-and short-term memory (TS-ConvLSTM) AI model, which is designed for learning both global and local characteristics of the Arctic sea ice changes, for the minimum September Arctic sea ice from 2001 to 2021, and to show the possibility for an operational prediction system. Although the TS-ConvLSTM model generally increased the prediction performance as training data increased, predictability for the marginal ice zone, 5-50% concentration, showed a negative trend due to increasing first-year sea ice and warming. Additionally, a comparison of sea ice extent predicted by the TS-ConvLSTM with the median Sea Ice Outlooks (SIOs) submitted to the Sea Ice Prediction Network has been carried out. Unlike the TS-ConvLSTM, the median SIOs did not show notable improvements as time passed (i.e., the amount of training data increased). Although the TS-ConvLSTM model has shown the potential for the operational sea ice prediction system, learning more spatio-temporal patterns in the difficult-to-predict natural environment for the robust prediction system should be considered in future work.