Ritsumeikan Asia Pacific University

Prof. Park Myong Sop (Professor, Business School, Sungkyunkwan University) gives a lecture at a RCAPS Seminar:

On Wednesday July 14, a RCAPS sponsored seminar was held at APU.

The seminar welcomed Prof. Park Myong Sop (Professor, Business School, Sungkyunkwan University) to give a lecture titled, "New Challenges for Global Shipping & Logistics Companies: Hanjin Shipping".

At the invitation of Professor Wang Mariner (APU), Dr. Park explained about the new challenges that the global shipping and logistics companies are facing at present. After a brief explanation of the scope of activities, principles, and changes in the logistics environment, Dr. Park explained about the major forces that are driving the logistics of present global shipping companies. Dr. Park explained 'containerization' as such a force. The term comes from the dominance of containers in the movement of global cargo, as about 90% of the global cargo moves by containers. Explaining further, Dr. Park observed that to increase the capacity of freight transport, vessels have increased their sizes leading to fleet overcapacity on the supply side, whereas on the demand side, the problem is posed by a significant change in container shipping. These challenges have led to a requirement of port development to support bigger vessels through infrastructure facilities, capacity and performance of ports. Dr. Park went on to explain about the importance of Globalization Alliance (GA) and Strategic Alliance of shipping companies as possible pathways to success to deal with the present challenges for global shipping and logistics companies. While Globalization Alliance can serve as an amalgamation and acquisition of shipping lanes, linking the growing economies of scale, and shared container terminals, strategic alliances among shipping companies can lead to reduced transport time providing worldwide services, improving logistics in the process. Dr. Park concluded his lecture by putting the example of Hanjin Shipping in Korea and how it became one of the top ten shipping companies at present through the use of GA and Strategic Alliance.

CHAKRABORTY, Shamik Doctoral Candidate, Graduate School of Asia Pacific Studies

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