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1 – 5 of 5Zhihong Jin, Xiaohan Wang, Jiaqing Sun and Qi Xu
Energy groups are cargo owners with large amounts of energy sources (such as coal) to transport. To achieve a satisfactory tradeoff between the reliability requirements of the sea…
Abstract
Purpose
Energy groups are cargo owners with large amounts of energy sources (such as coal) to transport. To achieve a satisfactory tradeoff between the reliability requirements of the sea transportation process and the need to control the investment cost, they usually set up a self-owned fleet supplemented by a chartered fleet. This paper aims to investigate the best fleet structure and to evaluate the investment scheme under volatile circumstances in the shipping market.
Design/methodology/approach
The authors construct a mathematical model to determine the ratio of the self-owned fleet to the total fleet to minimize fleet operating costs. The volatility of both freight rates and oil prices is taken into consideration. The CPLEX solver is used to empirically analyze real data from an energy group in China, and the ship investment plan is evaluated considering the technical and economic feasibility.
Findings
If the ratio of the self-owned fleet to the total fleet is increased to the optimal of 90.40%, the total operating cost is reduced by 33.98%. Thus, the energy group should increase its capacity with a Panamax vessel of approximately 82,000 DWT. Purchasing a 5-year-old secondhand ship and building a new ship both have good investment return indicators.
Originality/value
For cargo owners engaging in transporting bulk cargo domestically in China, the suggested fleet ratio can provide a reference with a universal application scale, given the boundary economic conditions (including the volatility of freight rates and oil prices in the shipping market) in the paper.
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Since the outbreak of COVID-19, tremendous changes have taken place in the US economy – the economic growth in the whole year of 2020 was negative, and though it enjoyed a…
Abstract
Purpose
Since the outbreak of COVID-19, tremendous changes have taken place in the US economy – the economic growth in the whole year of 2020 was negative, and though it enjoyed a significant rebound for the first half of 2021, the growth rate began to decline rapidly by the third quarter, and inflation suddenly rises rapidly, which after came the all-time highs of the “misery index” consisted of the inflation rate and unemployment rate. All signs indicate that the US economy will likely enter a “stagflation” crisis.
Design/methodology/approach
This paper analyzes the institutional and social contradictions in the United States during the neoliberal era from the perspectives of domestic social structure of accumulation (SSA) and international SSA based on the SSA theory.
Findings
The current risk of stagflation in the US economy is a concentrated outbreak of the long-term accumulated contradictions in neoliberal SSA under the impact of the epidemic, which is the product of the irreconcilable contradictions inherent in the capitalist mode of production.
Originality/value
Based on this analysis, the paper points out that with the deepening of the crisis, the neoliberal SSA is likely to end and a new SSA will be established gradually.
Details