This paper shows the possibility that, as a simple average, BDI occasionally over- or under-states the status of global dry bulk freight market. In order to overcome this shortcoming, this paper suggests an alternative method of calculating new index by using a common stochastic trend model. This econometric approach to understanding the dynamics of dry bulk freight markets not only provides ne…
The paper examines an important player in the container industry: the container terminal. We evaluate how terminal efficiency operation is affected by the following factors: terminal type, operation type, scale efficiency and returns to scale. In so doing, we test how the typology and operation of terminals and the level of scale efficiency that a terminal can achieve, represent significant fac…
A central objective of port privatization and/or deregulation policies is stimulating greater efficiency by engendering a more competitive market and commercial approach to management. Korea provides a prime example of a nation that is implementing such policies. Also, its ports play a pivotal role in world shipping, particularly in the ever-burgeoning container market. The success of these pol…
This paper applies a ‘port function matrix’ to analyse the administrative and ownership structures of major container ports in Asia. The relative efficiency of these ports is then assessed using the cross-sectional and panel data versions of the ‘stochastic frontier model’. The estimated efficiency measures are broadly similar for the two versions of the model tested. From the results o…
Seaports are exposed to various uncertain disasters caused by natural or human factors, which have multi-dimensional impacts on the economy. Retrofit appears as one of the effective mitigation methods to protect the seaport network and to reduce the post-disaster loss in the port management engineering. The post-disaster loss is quantified by replacement or repair cost of the structural damage …
The efficiency of the container port industry has been variously studied utilising either Data Envelopment Analysis (DEA) or Stochastic Frontier Analysis (SFA). Given the strengths and weaknesses associated with these two approaches, the efficiency estimates and scale properties derived from these analyses are not always convincing. This paper applies both approaches to the same set of containe…
As the intensity of natural disasters increases, there is a need to develop policies and procedures to assist various agencies with moving aid to affected areas. One of the biggest limitations to this process is damage to transportation networks, in particular waterways. To keep waterways safe, aids to navigation (ATONs) are placed in various areas to guide mariners and ships to their final des…
Few studies have investigated the quantitative relationship between port ownership structure and port efficiency with mixed results. This study applies a stochastic frontier model proposed by Battese and Coelli [Battese, G.E., Coelli, T.J., 1995. A model for technique inefficiency effects in a stochastic frontier production function for panel data. Empirical Economics 20, 325–332], which inco…
We propose a mathematical model to minimize the overall response time consisting of the current ship incident and future potential incident that might occur at some other site in the sea. Considering the uncertainties in both objective function and constraints, a two stage stochastic programming model having chance constraints for the number of rescue ships to be required at the potential incid…
Purpose – The purpose of this paper is to discuss and to help address the need for quantitative models to support and improve procurement in the context of humanitarian relief efforts. Design/methodology/approach – This research presents a two-stage stochastic decision model with recourse for procurement in humanitarian relief supply chains, and compares its effectiveness on an illustra…
Empty container repositioning is an important issue in the liner shipping industry. Generally stated, two groups of mathematical models have been proposed to tackle this issue. The first group aims to derive time-dependent origin-destination matrices that specify the number of empty containers to be repositioned at a decision epoch; the second group aims to develop effective statefeedback contr…
Maintaining efficiency in despatching goods from a depot to geographically dispersed customers may require management at the depot to adjust its delivery routes daily if these customers’ demands fluctuate from day to day. One type of adjustment is to give drivers daily “skip lists” instructing them not to visit customers who have indicated that they do not need delivery on the day in qu…
The purpose of this paper is to investigate the total cost function of an inventory system with a reorder point/order quantity policy where the lead time is controllable based on the cost paid by the buyer for the service.