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The purpose of this paper is to evaluate logistics service quality using the Kano’s service quality model in the logistics-triadic context.

This study undertakes a survey research in semiconductor manufacturing equipment (SME) industry. Logistics service quality is categorized using Kano’s classification and a comparison is made of the perception of three sample groups who are SME firms, semiconductor manufacturers (SMs) and third-party logistics (TPL) providers.

Several attributes of logistics service quality are evaluated as “Must-be” quality which does not contribute to customer satisfaction, indicating existence of the non-linear relationship between some logistics service quality attributes and customers’ satisfaction. The group comparison reveals that TPL firms perceive most quality attributes as “Attractive” and “One-dimensional” whereas SMs and SME firms perceive more attributes as “Must-be.”

Logistics service quality elements should not be used in the same way assuming the same effect of logistics service elements on customer satisfaction. It should be also noted that logistics service quality attributes have different effect on satisfaction according to the positions in the logistics triad.

This paper provides SME firms with useful information on how to manage their logistics service quality to improve customer satisfaction. SME firms and TPL providers need to arrange a collaborative format where logistics service quality is regularly monitored and three members discuss solutions to improve their quality performance.

This study is a rare empirical investigation to actually assess and compare perception on logistics service quality among the entities in a logistics triad. This study applies the Kano model to the triadic relationship in logistics service provision, which may be the first attempt to the authors’ best knowledge.

The purpose of this paper is to examine the diversification effect of the Korean Ship Investment Fund (KSF) under Markowitz portfolio theory by analyzing short-term and long-term relationships with stocks and bonds.

For this purpose, unit root, correlation and cointegration tests are performed. Monthly data from 2004 to 2015 for stocks, bonds and KSFs are obtained for this study.

The correlation coefficients indicate that KSFs are uncorrelated with stocks and negatively correlated with bonds, and no long-term equilibrium relationships exist with all three variables by the Johansen and Engle-Granger cointegration tests.

This paper makes contribution to the literature as follows: first, whereas the previous literature investigated diversification effect of ship investment using freight indices or freight rates which are not able to represent returns from ship investment, this study is the first study to use actual stock prices of the KSFs to the authors’ best knowledge; and second, diversification effect of ship investment represented by KSFs is empirically verified in the both short term and long term.

Policy-makers and managers of shipping companies can have sound ground that the KSFs are alternative and attractive assets to investors. It is also shown that the KSFs have potential to improve risk and return structure of investors on their own regardless of existence of incentives. Therefore, decisions of policy-makers can be made free from expectations for stronger incentives provided by the government. In addition, those countries that do not have such a ship investment platform may consider introducing a similar ship investment fund in order to revitalize the capital markets of the country.

This study holds its significance in investigating diversification properties of the KSFs for the first time in Korea since the KSFs were introduced.

The purpose of this study is to evaluate the profitability of the Northern Sea Route (NSR) as a shipping lane from the financial perspective of shipping companies under post 2020 sulphur regulations.

This study develops profit estimation model, and the profitability of the NSR is assessed for a Handymax Medium Range (MR) tanker vessel using scenarios in combination with spot market earning levels, the regulation compliance method and destination ports. The required freight rates are calculated to justify the decision of shipowners to transit a tanker from the Baltic spot market to the NSR navigation.

Results suggest that the required freight rates from the Arctic trade to justify the transit to the NSR are higher than the actual agreed rates in the past, which implies low viability of the NSR as a regular shipping lane. It was also found that the required freight rates are affected by the spot market earning levels, compliance method and duration of the voyage.

This study takes a new approach on assessing the NSR viability by comprehensively assessing the annual profitability and including the spot market trade as an opportunity cost for the NSR shipping. Despite various scenarios used in this study, a sensitivity analysis would be useful for future research.

This study suggests how much freight rates a shipping company would need to charge if it were to offer tanker shipping services to four major Asian ports while simultaneously operating at the Baltic Sea during the remainder of the year.

This study adopts a market-oriented approach by incorporating both earnings and costs (including opportunity costs) in the profitability model rather than merely analyzing the total cost of shipping via the NSR. This study also analyzes impact of IMO 2020 Sulphur regulation on the NSR profitability.

Short-sea shipping (SSS) plays an important role in regional transportation networks by supporting regional trade and improving inter-modality. In particular, countries in north-east Asia, such as China, South Korea and Japan have been served well by local SSS services. While SSS markets in Northeast Asia (NEA) have been developed by bilateral routes with sub-markets, the market structure of each sub-markets varies depending on concentration and competition levels as well as government intervention. The purpose of this paper is to analyse the market structure of SSS markets in the Northeast Asia.

Herfindahl–Hirschman Index (HHI) and concentration ratio are adopted to measure the market concentration from 2013 to 2017 for SSS markets in NEA. Additionally, the balance between supply and demand is investigated by measuring the capacity utilisation factor (CUF) based on slot capacity.

The market structure in the NEA SSS markets is influenced by firms’ behaviour under different levels of governmental intervention. Shipping firms in a market with more governmental intervention in market entry tend to focus on balancing supply and demand rather than increasing market share, whereas firms in a market with less intervention (and more competition) tend to increase their market share by pursuing efficient capacity management.

The period of data set is limited to 2013–2017. Furthermore, prices or revenue for specific routes are not available.

This paper sheds light on the market structure and behaviour of players in SSS market. In addition, the work has value to measure capacity utilisation based on slot capacity.

The purpose of this paper is to analyze the environmental impact of distribution network design.

Typical distribution networks are identified and modeled through interviews with logistics companies in Korea. CO₂ emission is calculated for the distribution network models to evaluate the environmental impact of different network designs. In addition, economic and customer service performances are evaluated to provide realistic and balanced solutions to supply chain managers.

It is suggested that hybrid networks combining Hub-and-Spoke (HS) and Point-to-Point (PP) networks with a small number of sub-terminals are the most effective in both environmental and customer service aspects, whereas HS network is the most cost-effective.

The analysis in this study is based on certain assumptions, and hence full application of these results to specific cases is limited. The combination of PP network with HS network is suggested, forming a hybrid network, and CO₂ mitigation policies need to consider support schemes that can influence a firm’s decision making in relation to network design.

Little attention, however, has been paid to the environmental impact of distribution network design in the exiting literature. This study is a rare attempt at evaluating the environmental impact of distribution network design and may provide valuable implications to policy-makers and practitioners in logistics and manufacturing companies.

To gain competitive advantage, shipping companies need the abilities to manage environmental requirements, which this study refers to as sustainable shipping capabilities, including internal resources and external factors such as inter-firm collaboration. However, previous studies mainly focused on the effectiveness of internal resources, leading decision-makers in shipping companies to undervalue the significance of external relationships in managing sustainability issues and their impact on performance. Therefore, this paper aims to identify and examine the impacts of sustainable inter-firm collaboration on shipping companies' business performance (i.e. shippers' loyalty and financial performance).

A proposed model that explains the relationships between relation bonding strategies, sustainable inter-firm collaboration and business performance was developed. Accordingly, a survey questionnaire was constructed and sent to 294 shipping companies in Vietnam. Structural equation modeling was deployed to examine the validity of the measurement items and investigate relationships among the latent constructs.

The findings show that financial bonding strategies have the most significant impact on sustainable inter-firm collaboration, followed by social bonding strategies and structural bonding strategies. Furthermore, sustainable inter-firm collaboration has direct and indirect (via perceived shippers' loyalty) effects on business performance.

Relational bonding strategies provide a unique perspective to sustainable inter-firm collaboration. This study also contributes to allocate external resources and capabilities to improve inter-firm collaboration, thereby maximizing financial performance.

This paper contributes to the literature by applying relational bonding strategies that determine the key factors enabling sustainable inter-firm collaboration.

The changing role of seaports in supply chains has been the subject of extensive research in the recent literature. The strategic development of seaport terminals, responding to the need for closer integration into supply chains, invites a more detailed examination of the influence of the supply chain structures on seaport performance. Therefore, this paper aims to investigate the effects of supply chain structures, especially the degree of integration of seaports into supply chains, on seaport performance.

The parameters for a structural equation model were identified in the first instance from the supply chain and seaport operations and management literature. The structural equation model itself was then devised, and subsequently refined, using data from Korean seaport terminal operators, shipping companies and freight forwarding companies. The structural equation model was used to assess the level of supply chain integration of seaports and the relationship to port performance.

The results indicate that the integration of seaports into supply chains has a positive impact on both the effectiveness and the efficiency of seaport performance. In addition, antecedents to seaport supply chain integration are identified; these suggest that a strong orientation to supply chain integration within a port operating company enables the company to adopt and implement a strategy that integrates functions within the port and with other upstream and downstream organisations.

As the field data were geographically limited to one country, extending the findings of this study to other geographical areas may not be possible, although the approach taken, using the structural equation modelling technique, should be transferrable elsewhere. Cross‐validation of the model would widen its applicability to other areas. The paper provides a framework that allows other researchers to examine the level of integration of ports into supply chains.

The potential benefits of closer integration of seaports into supply chains are shown with supply chain integration having a positive effect on port performance. Seaports which do not integrate with their supply chains have a lower level of performance. Thus, enhanced port performance accruing from closer integration would have positive implications both for port and terminal managers and for other supply chain participants.

This study, for the first time, empirically examines the impact of the integration into supply chains of seaports on their performance. This is achieved by the development of a structural equation model which is then tested in the field, thus extending the existing literature which is largely conceptual or descriptive.