US shipping initial public offerings: Do prospectus and market information matter?

This paper examines the extent that public information, available prior to the initial public offering of shipping companies, is only partially incorporated in the final offer price. The sample includes shipping US initial public offerings that took place in the period 1987-2008, and the analysis employs a set of IPO, market, and firm specific characteristics. Our findings have both theoretical and empirical implications for shipping IPOs, and indicate that there is no asymmetry of information between participants in shipping IPOs. On the theoretical part, the partial adjustment theory of Benveniste and Spindt (1989) is supported, whereas the winner’s curse theory of Rock (1986) is rejected. On the empirical side, the probability of underpricing can be predicted by employing variables available to all IPO participants prior to the issue.     

Designing a sustainable maritime supply chain: A hybrid QFD–ANP approach

This study aims to design a sustainable maritime supply chain by taking customer requirements as the focus. This is achieved by an analytical approach combining Quality Function Deployment (QFD) and Analytical Network Process (ANP) for guiding shipping companies’ design. An analysis of a major container shipping line is conducted to illustrate and validate the approach. The four main customer requirements are: (1) Cost and Price Competitive, (2) Pollution Reduction, (3) Efficient Use of Fuel and Resources, and (4) Health, Safety, and Security. The Use of Green Design Ships, Engines and Machinery is found to be the most important design requirement.     

Patterns of maritime supply chains: slot capacity analysis

This paper offers a tool for analysing patterns of maritime supply chains. The study uses empirical data on slot capacity deployed by container shipping lines for analysing ports (as nodes) and routes and shipping lines (as links) that are embedded within the maritime supply chain. The ports of Singapore and Hong Kong are chosen to illustrate the respective transhipment and gateway perspectives. Findings reveal that geographical location and changes in the constitution of players can have reverberations on the maritime supply chain dynamics that traverse the port. Furthermore, evidence from trade route data also shows that maritime supply chain dynamics associated with transhipment and gateway ports could be governed by different levels of scope economies, demand complementarity and market power. The paper illustrates the abundant potential of slot capacity analysis for academic and industry/market research. Thus, future research can be pursued in various contexts and for different applications.     

创新内部控制制度构建铁路全面风险管理体系

从内部控制和风险管理基本理论的发展过程入手,基于内部控制制度的创新,阐述构建铁路企业全面风险管理体系的必要性,提出构建铁路全面风险管理体系的总体目标、基本原则、主要内容及基本方法的初步设想。     

机车车辆高价互换配件管理中的几个问题

搞好高价互换配件管理工作,对于维护铁路运输设备的完好状态、合理控制运输成本、保证铁路运输安全具有重要意义。介绍了铁路机车车辆高价互换配件管理的现状,当前管理中存在的突出问题,对今后铁路运输设备高价互换配件的管理工作提出建议。     

Robust planning and disruption management in roll-on roll-off liner shipping

This paper presents different strategies for handling disruptions in fleet deployment in roll-on roll-off liner shipping, which basically consists of assigning a fleet of vessels to predefined voyages at minimum cost. A new mathematical model of the problem is presented, including a set of robust planning strategies, such as adding slack and rewarding early arrivals. To solve real-life instances a rolling horizon heuristic is proposed. A computational study, where we also propose some recovery planning strategies, is conducted, and simulation results show that adding robustness significantly reduces the actual cost of the plan and the total delays of the voyages.     

Port traffic risks – A study of accidents in Hong Kong waters

This paper investigates port traffic risk issues by discussing historic accidents in Hong Kong port. A total of 2012 marine accidents with 94 deaths were reported in Hong Kong waters in year 2001–2005, while 660,427 oceanic ships visited the port. A negative binomial regression model is used to analyze the record of dataset. It is found that port traffic risks are of certain pattern and collision accidents are the most popular incidents when port traffic is heavy. Passenger-type vessels have higher potential for injuries during accidents. The findings have identified statistically significant factors for improvements in managing port traffic risks.     

加强政府采购管理 提高财政资金使用效率和效益——我国政府采购管理存在的问题及措施建议

我国政府采购制度自2001年全面实施以来,在政策功能、节约财政资金、提高资金使用效率效益和加强廉政建设预防腐败等方面发挥越来越重要的作用,但仍存在一些问题。分析我国政府采购中存在的问题,提出进一步发挥政府采购功能的措施和建议。