JOURNAL BROWSE
Search
Advanced SearchSearch Tips
The effect of the ISM Code revision in the shipping industry - Focusing on ship price and hull insurance -
facebook(new window)  Pirnt(new window) E-mail(new window) Excel Download
 Title & Authors
The effect of the ISM Code revision in the shipping industry - Focusing on ship price and hull insurance -
Lim, Sung-Yong; Woo, Su-Han;
  PDF(new window)
 Abstract
IMO(International Maritime Organization) is existed the movement for revising ISM Code so that the maintenance history and the trouble information given trading in a ship can be transferred. An empirical analysis was made on the influence that will have upon shipping industry through surveying on the recognition on ISM Code revision in employees of the relevant field and on the expected problems given being amended ISM Code as the above. In conclusion, the positive effect is judged to be more in the aspect of ship safety, which is the aim of ISM Code, rather than the negative effect, which may take place given being revised ISM Code. In other words, the clean market can be formed through this because fairness is maintained on both sides given trading in a ship by which opening the maintenance record and the trouble history is applied equally to a buyer and a seller. Ships can be reduced a loss of time and cost in preventing similar problems and seeking solution that may appear in important equipments, through this maintenance record. Also, based on these materials, it comes to be available for analyzing a risk of ship and preventing and managing a risk, thereby being increased ability of maintenance and repair in a ship, resulting in being judged to likely contributing to ship safety and environmental-pollution prevention.
 Keywords
ISM Code;Vessel`s maintenance and failure records;IMO;FSI;MSC;Vessels values;Sale of ship;
 Language
Korean
 Cited by
 References
1.
Bak, S. I.(2006), "Some Considerations on the ISM Code and its Implementation", The Korea Institute of Maritime Law, Vol. 18, No. 2, p. 314.

2.
Churchill, A. G. and Iacobucci, D.(2002), Marketing Research: Methodological Foundation. Mason: South Western.

3.
Craing, H. A.(1998), "The ISM Code shipowner records: Shared Safety Goals vs. Industry's Privacy Needs", USF, Mar. L J.

4.
Hair, J. F., Black, W. C., Babin, B.J. and Anderson, R. E.(2010). Multivariate Data Analysis; a global perspective, New Jersey, Prentice Hall.

5.
Jeong, S. C.(2007), "A Study on the Ship Sale & Purchase in Policy of Maritime Law", The Korea Institute of Maritime Law, Vol. 19, No. 2, p. 221.

6.
Kim, K. S.(2009), IMO Guide Book, SeJong Publishing. Co., LTD.

7.
Lee, J. B.(2009), Marine Insurance and Risk Management, PakYoungSa Publishing. Co., LTD.

8.
Lee, O. Y.(2002), "Analysis of activities in accordance with the ISM Code on safety management system", Korean Institute of Navigation and Port Research. Vol. 26, No. 2, pp. 101-103. crossref(new window)

9.
Liang Chen(2000), "Legal and practical consequences of not complying with ISM Code", Maritime Policy & Management, Vol. 27, No .3, pp. 219-220. crossref(new window)

10.
Mangan, J., Lalwani, C. and Gardner, B.(2004), "Combining quantitative and qualitative methodologies in logistics research", International Journal of Physical Distribution and Logistics Management, Vol. 34, pp. 565-578. crossref(new window)

11.
Max Mejia(2001), "Performance Criteria for the International Safety Management(ISM) Code", Proceedings of the 2nd General Assembly of IAMU(International Association of Maritime Universities).

12.
Yang, H. S. and Noh, C. K.(2006), "A Study on the Change of Domestic Maritime Accidents and Insurance rates According to Enforcement of ISM Code", The Korean Society of Marine Environment & Safety, Vol. 16, No. 1, pp. 47-48.