In this study,two integrated game models are developed to explore the possible economic and environmental consequences of Emission control areas(ECA)regulations.Moreover,the analytical solutions compared with a benchm...In this study,two integrated game models are developed to explore the possible economic and environmental consequences of Emission control areas(ECA)regulations.Moreover,the analytical solutions compared with a benchmark case are derived.We find that vessel speed and SO_(2)emissions will decrease under the ECA regulations.However,shipping company’s level of competition has no effect on the equivalent speed.The equivalent freight volume to be reduced or increased is determined by the additional operational cost per voyage due to ECA regulations.Numerical study and sensitivity analysis reveal that the vessel speed and SO_(2)emission reduction are very sensitive to the inventory costs of intransit cargo.Furthermore,if low-sulphur marine gas oil is used throughout the voyage,the SO_(2)emission reduction may be greater than 80%,with a low impact on the shipping company’s profit.Thus,considering the environmental effects,much stricter limits can be set in the future.展开更多
International shipping market is a risky market associated with a variety of risks which shipping companies have to cope with. International shipping has been seriously hit by the financial crisis in 2008. Since then,...International shipping market is a risky market associated with a variety of risks which shipping companies have to cope with. International shipping has been seriously hit by the financial crisis in 2008. Since then, this industry has experienced market downturn for a long period which was considered to be the longest period of depression in the history. This paper mainly focuses on the key market risks in international shipping including cyclical fluctuation risk, cost risk, freight rate volatility risk, and competition risk. It analyses the source of these market risks, and identifies some strategies to cope with these market risks. In the meantime, Maersk and China Ocean Shipping Group （COSCO）, the world leading international shipping companies, are taken as two cases. Their strategies in market risk management are analyzed, which enable the reader to learn from their success and failure. Based on the international experience in market risk management in shipping industry as well as the real practice of Maersk and COSCO, this paper provides useful guidance for shipping companies to reduce market risks, overcome market downturn, and improve competitiveness.展开更多
Access Report on Performances of Listed Ports and Shipping Com- panies in 2007,by International Economy Research Institute of Dalian Maritime University(DMU),was issued. According to the report,Shenzhen Chi- wan Wharf...Access Report on Performances of Listed Ports and Shipping Com- panies in 2007,by International Economy Research Institute of Dalian Maritime University(DMU),was issued. According to the report,Shenzhen Chi- wan Wharf Holdings Limited(CWH),展开更多
In recent years, the world economic situation and container shipping industry has been fluctuated drastically, which has complicated the liner shipping companies＇ operation. The conventional issue of overcapacity due...In recent years, the world economic situation and container shipping industry has been fluctuated drastically, which has complicated the liner shipping companies＇ operation. The conventional issue of overcapacity due to the ＂equipment battle＂, and the destructive competition have further stimulated the operating intricacy within the container sector. That would be interesting to explore the chartering strategies of CMA CGM （Compagnie Maritime d＇Affretement Compagnie Generale Maritime） in such a volatile market as any capacity adjustment dictates a line＇s profit line. Nevertheless, the usefulness of ship chartering is not only confined to the operational level but also the strategic level. Throughout the analysis of CMA CGM＇s fleet trend, fleet deployment as well as chartering activities, it can illustrate the above concepts and observe a little bit further about the strategic movement of CMA CGM.展开更多
文摘In this study,two integrated game models are developed to explore the possible economic and environmental consequences of Emission control areas(ECA)regulations.Moreover,the analytical solutions compared with a benchmark case are derived.We find that vessel speed and SO_(2)emissions will decrease under the ECA regulations.However,shipping company’s level of competition has no effect on the equivalent speed.The equivalent freight volume to be reduced or increased is determined by the additional operational cost per voyage due to ECA regulations.Numerical study and sensitivity analysis reveal that the vessel speed and SO_(2)emission reduction are very sensitive to the inventory costs of intransit cargo.Furthermore,if low-sulphur marine gas oil is used throughout the voyage,the SO_(2)emission reduction may be greater than 80%,with a low impact on the shipping company’s profit.Thus,considering the environmental effects,much stricter limits can be set in the future.
文摘International shipping market is a risky market associated with a variety of risks which shipping companies have to cope with. International shipping has been seriously hit by the financial crisis in 2008. Since then, this industry has experienced market downturn for a long period which was considered to be the longest period of depression in the history. This paper mainly focuses on the key market risks in international shipping including cyclical fluctuation risk, cost risk, freight rate volatility risk, and competition risk. It analyses the source of these market risks, and identifies some strategies to cope with these market risks. In the meantime, Maersk and China Ocean Shipping Group （COSCO）, the world leading international shipping companies, are taken as two cases. Their strategies in market risk management are analyzed, which enable the reader to learn from their success and failure. Based on the international experience in market risk management in shipping industry as well as the real practice of Maersk and COSCO, this paper provides useful guidance for shipping companies to reduce market risks, overcome market downturn, and improve competitiveness.
文摘Access Report on Performances of Listed Ports and Shipping Com- panies in 2007,by International Economy Research Institute of Dalian Maritime University(DMU),was issued. According to the report,Shenzhen Chi- wan Wharf Holdings Limited(CWH),
文摘In recent years, the world economic situation and container shipping industry has been fluctuated drastically, which has complicated the liner shipping companies＇ operation. The conventional issue of overcapacity due to the ＂equipment battle＂, and the destructive competition have further stimulated the operating intricacy within the container sector. That would be interesting to explore the chartering strategies of CMA CGM （Compagnie Maritime d＇Affretement Compagnie Generale Maritime） in such a volatile market as any capacity adjustment dictates a line＇s profit line. Nevertheless, the usefulness of ship chartering is not only confined to the operational level but also the strategic level. Throughout the analysis of CMA CGM＇s fleet trend, fleet deployment as well as chartering activities, it can illustrate the above concepts and observe a little bit further about the strategic movement of CMA CGM.
