{"title":"Testing a speculative bubble in the dry bulk shipping market: a multi-factor approach","authors":"L. Cocconcelli, F. Medda","doi":"10.1504/IJDSRM.2016.079795","DOIUrl":"https://doi.org/10.1504/IJDSRM.2016.079795","url":null,"abstract":"The dry bulk industry witnessed a boom and bust phase between 2005 and 2010. The aim of this work is to assess whether this pattern was driven by speculation or was a supply and demand outcome. In order to evaluate the presence of speculation, a global multi-factor risk model is implemented to estimate the long-term (cointegration) relationship between freight rates and cargo prices. The empirical results obtained suggest that a speculative period took place in the dry bulk industry between 2005 and 2011.","PeriodicalId":170104,"journal":{"name":"International Journal of Decision Sciences, Risk and Management","volume":"7 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2016-10-17","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"130398493","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"An approach to traffic modelling at seaport automobile terminals: the case of the Port of Bar","authors":"B. Dragovic, N. Nikitakos, R. Mestrovic","doi":"10.1504/IJDSRM.2016.079794","DOIUrl":"https://doi.org/10.1504/IJDSRM.2016.079794","url":null,"abstract":"The actual trends and an approach to traffic modelling at the seaport automobile terminal (SAT) in the Port of Bar are presented. This paper firstly deals with the performance indicators and traffic analysis of SAT, which faced a fast growth in the past few years. Also here we have applied the related queue model which is based on the analytical assumption related to the loading process of automobiles onto ships. The defined analytical model corresponds to the bulk queue with one ship ramp (server) and such that the size of arrival group at the ramp is a constant random variable. By using the input data, some computational experiments are reported to evaluate the efficiency of the considered loading process in the Port of Bar. It also serves as a review that can be reported to the local port authorities to develop strategies and directions that should be applied in the future.","PeriodicalId":170104,"journal":{"name":"International Journal of Decision Sciences, Risk and Management","volume":"6 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2016-10-17","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"129766113","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
M. Diakomihalis, Evaggelia Stefanidaki, Evangelos Chytis
{"title":"Cruise ship cost analysis: an AHP study on cost components","authors":"M. Diakomihalis, Evaggelia Stefanidaki, Evangelos Chytis","doi":"10.1504/IJDSRM.2016.079792","DOIUrl":"https://doi.org/10.1504/IJDSRM.2016.079792","url":null,"abstract":"This paper aims to reveal the factors that influence the cost of cruise ships of different size which offer different programs. The analytic hierarchy process (AHP) is the methodology applied in order to evaluate and compare the cost components. The factors which influence the cost levels after a brainstorming with cruise sector experts, are: 1) voyage cost; 2) cost of food and beverage provision; 3) cost of supplies; 4) administration cost; 5) financial cost; 6) technical upgrading and lay-up cost. Each criterion in the AHP method is shaped by the significance of its sub-criteria. Results of the study revealed that technical upgrading and lay-up cost is the major driver for the total cost for the small cruise company (SCC), while financial cost is the most important cost category for the large cruise company (LCC) and least important for the small cruise company (SCC).","PeriodicalId":170104,"journal":{"name":"International Journal of Decision Sciences, Risk and Management","volume":"61 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2016-10-17","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"128553945","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Socio-economic valuation of traffic in inland ports: the development of a weighing rule for the port of Brussels","authors":"M. Langenus, M. Dooms, E. Haezendonck, G. Aerts","doi":"10.1504/IJDSRM.2016.079796","DOIUrl":"https://doi.org/10.1504/IJDSRM.2016.079796","url":null,"abstract":"The objective of this paper is to develop a weighing rule for the socio-economic valuation of traffic categories in inland ports. Weighing rules are tools that provide insights based on the gross and relative added value per ton for different prevalent traffic categories. While port performance indicators rather focus on throughput in absolute tons, stakeholder requests on the impact of ports on society suggest that value added of each tonne handled should also be an important parameter. While most weighing rules developed and applied during the last decades have been focusing on seaports, limited research has been devoted to inland ports and their specific characteristics. Our results show the relatively higher and lower added values for the case of the Port of Brussels, and that the trade-off with seaports and development of co-located logistical activities can be of considerable influence on the added value of an inland port.","PeriodicalId":170104,"journal":{"name":"International Journal of Decision Sciences, Risk and Management","volume":"30 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2016-10-17","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"124701556","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Representing shipowners: explaining strategic interactions with the media","authors":"Ilias Bissias, A. Pallis","doi":"10.1504/IJDSRM.2016.079798","DOIUrl":"https://doi.org/10.1504/IJDSRM.2016.079798","url":null,"abstract":"This study examines the strategies of the association representing Greek shipowners interests towards the media. As key activities of effective business interests' representation, public relations, image restoration and media response strategies of business associations have attracted widespread scholarly attention in recent years. This paper contributes to this discussion by posing the question of how communication strategies were shaped when the members of a leading shipping community collectively advocated their interests. It does so by exploring the analytical power of historical institutionalist perspectives in addressing fundamental questions regarding the shaping of the practices that business associations develop in specific periods of crisis. This is a search for the causal factors of interests mobilisation and for an understanding of the content, the technique, and the format that interactions with media develop and maintain. Challenging axioms of 'excellence' in media relations, the empirical research suggests that although a changing institutional setting (i.e., a socio-economic crisis) prompted the Union of Greek Shipowners (UGS) to consider reforming existing strategies, path dependency prevailed over the examined period (2013-2015). The absence of a major strategy change reflects the initial origins and idiosyncrasies of the creators of the business associations.","PeriodicalId":170104,"journal":{"name":"International Journal of Decision Sciences, Risk and Management","volume":"6 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2016-10-17","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"130269353","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
A. Pagano, Bo Zou, Onésimo Sánchez, Mohamadhossein Noruzoliaee
{"title":"The demand and supply of trans-oceanic sea routes: the case of East Asia-US east coast container trade","authors":"A. Pagano, Bo Zou, Onésimo Sánchez, Mohamadhossein Noruzoliaee","doi":"10.1504/IJDSRM.2016.079797","DOIUrl":"https://doi.org/10.1504/IJDSRM.2016.079797","url":null,"abstract":"The Panama Canal expansion will create a new lane of traffic for larger ships, up to 13,000-14,000 TEUs. While trade between Asia and the USA continues to increase, a number of supply factors may impact the canal's position. First, several US and Canadian west coast ports plan to increase service levels. Second, railroads serving the US west coast are examining the possibility of lowering freight rates. Third, the Nicaragua Grand Canal has been proposed and started construction. Fourth, the Suez Canal is expanding operations and may capture some of the traffic currently transiting the Panama Canal. Fifth, multiple Central American countries are considering constructing 'dry canal' rail links between the Pacific and Caribbean coasts. These together may result in an excess supply of trans-oceanic sea services. This paper examines the possible changes in supply and demand with emphasis on East Asia-US container trade.","PeriodicalId":170104,"journal":{"name":"International Journal of Decision Sciences, Risk and Management","volume":"11 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2016-10-17","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"129387939","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"A career in shipping? Image and background factors as predictors","authors":"A. Jensen, R. Bergqvist","doi":"10.1504/IJDSRM.2016.079793","DOIUrl":"https://doi.org/10.1504/IJDSRM.2016.079793","url":null,"abstract":"The image of the shipping industry plays a vital role in developing the future of maritime transport. In order to attract young people to the shipping industry, it is crucial to understand the image the shipping industry has among young people and the anatomy of the concept in order to effectively promote careers in shipping, and to develop shipping as an attractive labour market for young people. This paper reports on the findings of a large-scale survey of the image of shipping and image-related concepts among upper secondary school pupils in Sweden, Norway, and Greece. We identify, define, and analyse empirically the anatomy of the image concept by means of multivariate statistical analysis.","PeriodicalId":170104,"journal":{"name":"International Journal of Decision Sciences, Risk and Management","volume":"51 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2016-10-17","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"122238914","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Equipment mean residual life estimation using logical analysis of data","authors":"A. Ghasemi, S. Esmaeili, S. Yacout","doi":"10.1504/ijdsrm.2015.072764","DOIUrl":"https://doi.org/10.1504/ijdsrm.2015.072764","url":null,"abstract":"Logical analysis of data (LAD) has the advantage of not relying on any statistical theory, which enables it to overcome the conventional problems concerning the statistical properties of the datasets. LAD's other advantage is its straightforward procedure and self-explanatory results. In this paper, we developed methods to calculate equipment's survival probability at a certain future moment, using LAD. We employed LAD's pattern generation procedure and introduced a guideline to use the generated patterns to estimate the equipment's survival probability. The proposed methods were applied on Prognostics and Health Management Challenge dataset provided by NASA Ames Prognostics Data Repository. Prognostics results obtained by the methods are compared with those of the proportional hazards model. The comparison reveals that the proposed methods are promising tools that compare favourably to the PHM. Since the proposed prognostics model is at its beginning phase, future directions are presented to improve the performance of the model.","PeriodicalId":170104,"journal":{"name":"International Journal of Decision Sciences, Risk and Management","volume":"1 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2015-10-29","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"133829308","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Application of fuzzy sets in decision analysis for prioritising critical energy infrastructures","authors":"Polinpapilinho F. Katina, R. Unal","doi":"10.1504/ijdsrm.2015.072762","DOIUrl":"https://doi.org/10.1504/ijdsrm.2015.072762","url":null,"abstract":"This paper presents an approach for long-range decision-making in the domain of critical infrastructure using subjective information. Critical infrastructures provide goods and services essential to public wellbeing, including public safety, economic vitality, and security. Infrastructure owners, operators, and policy-makers have to make decisions related to fulfilling stakeholder needs. These decisions are routinely made in a landscape marked by ambiguity, complexity, unpredictability, and uncertainty associated with future states of infrastructure systems and their environment. In this paper, the authors suggest that fuzzy set theory could be used to enhance decision-making since it can account for unknown possible system states along any array of parameters. Specifically, this paper uses fuzzy sets to rank and prioritise three energy alternatives using five evaluation parameters and a possible infrastructure state of resiliency. A general model is developed that could be used to support a long-range decision process. The model can be adapted and deployed in other sectors in the domain of critical infrastructures.","PeriodicalId":170104,"journal":{"name":"International Journal of Decision Sciences, Risk and Management","volume":"140 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2015-10-29","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"123341738","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Planning customer requirements and engineering characteristics in avoiding product development quality risks","authors":"F. Bencherif, L. Mouss","doi":"10.1504/ijdsrm.2015.072769","DOIUrl":"https://doi.org/10.1504/ijdsrm.2015.072769","url":null,"abstract":"Product development is the process of bringing a new product to market. Quality function deployment is a product development tool to improve customer satisfaction, design the product quality and enhance competitiveness of the company in the market. In developing new products, we capture the requirements from the customer, and return it to the customer as a new product. Requirements and customer's language might be imprecise, causing inconsistent studied results and deviating of the voice of customer. These generally cause failure of a product development project. To improve quality in product development process, fuzzy set theory is employed in the product development phases. This model focuses on customer requirements and on engineering characteristics. The correlation between engineering requirements and benchmarking analysis, often ignored in most of QFD researches, are considered. Aiming to solve these problems, this paper aims to improve the precision of QFD first phase, and optimise and develop the customer requirements approach to reduce risks in subsequent phases.","PeriodicalId":170104,"journal":{"name":"International Journal of Decision Sciences, Risk and Management","volume":"17 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2015-10-29","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"129610353","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}