Integrating banks’ decision on financing dry bulk shipping: a multivariable approach

ABSTRACT

Shipping is characterized by extreme changes in revenues, operating expenses and asset values, making shipping banks’ final decision for financing shipping market considerably harder. This paper develops a practical decision tool based on the estimation of the credibility factor in the decision-making process, each bank’s policy, and the most significant variables arising from both its operating environment and the dry bulk market. Revealed relationships between bank’s internal environment, its own policy, and dry-bulk shipping market conditions through GDP growth of China constitute a newly presented decision framework in shipping finance. The values of credibility factor implicate either an aggressive or passive defensive strategy taking into account the GDP China changes: Consistent with the economic growth of China, a bank’s holds an aggressive policy if the credibility coefficient is about one. On the other hand, the model predicts that a less aggressive policy in combination with the increase of China’s GDP would drive to the decrease of bank’s loan grants.     

Decision to lease outer continental Shelf Lands

Abstract

The process by which a decision is made in many instances limits and shapes the form of that decision. The institutions involved, the timing of their involvement, and the ultimate goal of the process itself are integral factors in determining the substance of a decision. It is the thesis of this paper that the decision to lease areas of our Outer Continental Shelf is determined more by the process of making that decision than by any other factor. This thesis is explored from an historical and an analytical perspective and the conclusion drawn is that the present leasing process limits the scope of alternative decisions. For although the Department of the Interior has demonstrated an increased sensitivity to a broad spectrum of environmental and economic issues in the micro‐decision process, such as specific tract nominations and oil spill prevention, they have remained reluctant to apply this sensitivity to the macro‐decision process, that process which determines the optimal utilization of our ocean and land resources.     

Transshipment hub port selection for shipping carriers in a dual hub-port system

ABSTRACT

This paper investigates the factors affecting transshipment (T/S) hub port selection by a feeder port and helps shipping carriers make a decision about T/S hub port selection in a dual hub-port system. By employing established evaluation factors, a case study is conducted to weigh the priority of factors and to select an alternative T/S hub port, such as between the Shanghai and Ningbo ports from the Nanjing feeder port in the Yangtze River delta (YRD). A combined multi-criteria decision-making (MCDM) framework utilizing the analytic hierarchy process (AHP) and the consistent fuzzy preference relations (CFPR) method is employed to both reduce the number of pairwise comparisons by AHP and to obtain experts’ knowledge in the decision-making process. The result indicates that the cost, availability of hub port’s space allocation, and the connectivity between feeder port and hub port are crucial factors for T/S hub port selection by shipping carriers. In the case study, Shanghai is selected as the T/S hub port from the Nanjing feeder port. Nevertheless, Ningbo port has the advantage of cost, and if the relationship with feeder port can be improved, Ningbo port would be preferred over Shanghai as a T/S hub port for shipping carriers in a dual hub-port system.     

Environmental quality within an interorganizational matrix: A case study of the SOHIO project

Abstract

Urban coastal management is now part of a large, complex set of regional, state, and federal interorganizational arrangements. This emerging matrix consists of a loosely linked set of nearly independent decision points. Cities have little capacity within this matrix for independent action. Recent experience in the SOHIO project by the City and Port of Long Beach, California, illustrates the point to which external agencies have taken over decision‐making for use of coastal resources. Public bodies removed from city affairs and politics and with interests in other than coastal affairs have become dominant and have overridden local policy‐making. The public costs to citizens and local governments of the emerging interorganizational matrix are very high and may be excessive. As it is emerging, the matrix is a semi‐autonomous set of bureaucratic decision points which is unhinged from community values and regular political infrastructures.     

Training Needs of Coastal Resources Decision Makers in Ohio's Lake Erie Basin

This article describes results from a study focused on informational and knowledge needs of local coastal resources decision makers in the Ohio Lake Erie basin. New information was obtained through a series of focus groups of local decision makers and key training providers in the basin. The results suggest that training providers and local coastal resources decision makers have differing perceptions of knowledge and information needs and training venues. The results suggest a role for state and federal agency training providers as coordinators and facilitators of an enhanced learning network among decision makers, including support of an information clearinghouse, adoption of appropriate e-based learning modalities, and regionally based learning and practice networks to improve the function of the training market to meet local decision maker needs.     

Ontario cottager associations and shoreline management

Abstract

Growth in the number of cottager, or lake property owner, associations in Ontario has been rapid. Cottager associations attempt to address directly, and influence government decision‐making on, issues affecting shoreline management and the recreational experience of cottagers. However, associations infrequently resolve these issues to their satisfaction. A questionnaire and case study show that the nature of the issue, human and financial resources available to the association, and the nature of the decision‐making process affect the extent to which associations influence outcomes. Unreceptiveness of government officials to association participation in decision‐making and confused agency jurisdictions over shoreline resources appear to inhibit association effectiveness. Concerns about the status of shoreline management in Ontario and public participation in decision‐making are raised.     

A continuous berth template design model with multiple wharfs

ABSTRACT

Berth planning plays an important role in improving the efficiency of a container terminal. This study focuses on the berth template problem (BTP), which determines the berthing windows of the calling ships within a planning horizon (e.g. a week) in a cyclical way. As a mid-term tactical decision problem, BTP provides the decision support for a terminal operator to negotiate the contracts with the shipping lines. This study develops an integer programming (IP) model aiming to minimize the total deviation, given the ship-dependent target times preferred by the shipping lines. To validate the model and illustrate the benefits of its use, we perform a numerical experiment based on operational data of a specific container terminal in Southeast Asia. Two IP-based heuristic methods are developed to take into account the decision framework of terminal operators in reaction to demand increases. The experiment results indicate that the model and the solution approaches can enhance the resource utilization and operational efficiency of container terminals.     

Visibility mapping in New York's coastal zone: A case study of alternative methods

Abstract

Most scenery evaluation methodologies incorporate visibility extent. In New York's coastal zone, visibility mapping for planning and project studies is complicated by low topographic relief, and diverse configurations of water edge and upland surface character. A generalized visibility model has been developed, including macrolandscape, observer, and sight‐line recording. Based on a prior shorescape study of New York's coast, the Lake Ontario Port Bay site was selected to test alternative visibility methods. Within the study site, four “landscape control points”; were chosen which provided extensive views of representative land and water forms, and surface types. For each control point, four families of visibility mapping approaches were applied: primary (field observation); secondary (topographic maps and vertical air photo analysis); tertiary (physical topographic model); and quaternary (digital terrain computer model). Major study conclusions are: the methods require different resources; all methods readily produced visibility maps; all methods, except secondary, could be used to produce perspective scenes for subsequent content evaluation; all methods except primary omitted one or more elements of the general visibility model; all methods should incorporate field work due to critical viewer environment conditions; sensitivity analysis in each method produced ambiguous zones; each view map was different, particularly in the background. An integrated, multi‐approach strategy would appear desirable for most planning and project applications.     

Ecological and economic principles in park planning: The Assateague national seashore model

Abstract

The National Park Service is required by law to conserve nationally significant resources for public benefit. Susceptibility to local short‐term economic pressures and a lack of understanding of resource dynamics can jeopardize mandate compliance. Assateague National Seashore is an example of a dynamic barrier island where early understanding of ecologic factors should have preceded its establishment and must precede its management and development. Research conducted on a similar system has demonstrated the dramatic environmental impacts and high maintenance costs associated with an inappropriate recreation management scheme. Alternatives are available which minimize resource degradation and maintenance costs without restricting visitation. To better ensure incorporation of long‐run ecologic and economic criteria into the decision‐making process, a proposal is put forward which recognizes the need for an expanded research effort and close adherence to early planning steps.     

Testing port choice models using physical and monetary data: a comparative case study for the Spanish container trades

ABSTRACT

Transport costs are useful explanatory variables in port choice research. Nevertheless, the availability of such information usually poses a problem. Thus, the formulation of an alternative approach, to be used as a proxy of these variables, would be desirable. The objective of this study is to improve the analysis of container port choice using logit models by adopting physical non-monetary indicators based on maritime distance and ship size. The statistical tests of logit models on port choice using these new variables are compared with the result of using cost variables for the same data set of choice positions. The statistical outcome is good and allows us to present this new approach as a contribution to the literature on port choice modeling.     

Managing community acceptance of major industrial projects

Abstract

In some cases, the major risk encountered by an industry seeking to site a facility is that of community acceptance. Without community acceptance of a proposed project, construction can be delayed, taxes can be prohibitive, and operations can be prevented through the opposition and influence of local groups. This paper describes the community acceptance risk, the traditional industrial approach to countering local opposition, and a positive approach to achieving community acceptance. This positive approach entails careful site selection; affirmative management of the community acceptance problem, including explicit planning of the community acceptance effort, assignment of staff with specific responsibilities to implement plans, and a budget for mitigating the impacts of the project on the community; acquisition of sufficient land to buffer unavoidable impacts of the project; a carefully formed corporate policy on the public release of information concerning the project; and constructive participation in state and local government policy development.     

Integrating visual management into the coastal zone planning process: The Massachusetts experience

Abstract

This paper concerns the limitations on integrating visual management into the coastal zone planning process as exemplified by the Commonwealth of Massachusetts, a state with a strong tradition of “home rule”; and a CZM implementation program based on a “networking”; of existing state authorities. The implications of the Massachusetts experience are that: (a) management of esthetic resources at the state level continues to be much less of a priority than management of ecological resources such as wetlands or floodplains; (b) visual management has yet to engender a strongly supportive constituency beyond that concerned with historic preservation; (c) project review focusing on visual impacts may be a more appropriate activity for local rather than state government; and (d) the technical aspects of visual management or impact assessment are far more advanced than their political acceptability. Political realities, together with the decision that implementation of the program should be based on a networking of existing authorities, thus determined the degree to which visual management could be incorporated into the state's program. As a result, the program's principal instruments of visual management became a strengthening of existing programs such as Wild and Scenic Rivers, reliance on wetland protection statutes to indirectly protect natural scenic values, and the use of the federal consistency provisions of the Coastal Zone Management Act to foster focused growth patterns through provision of publicly funded infrastructures. Esthetically oriented project review, with the exception of potential impacts on historic sites, was left to the discretion of local government, and a technical assistance program was created to provide funding or professional skills to communities interested in developing their own esthetic controls or design review processes. Maine, Rhode Island, and other New England states have followed a similar course.     

Inland boundary determinations for coastal management purposes—an ecological systems approach to requirements of the federal coastal zone management Act of 1972

Abstract

An analysis of ecological systems that both sustain and are sustained by coastal waters provides the key to a biophysical procedure for delineating inland coastal management boundaries. This analysis entails two basic tasks: (1) mapping the ecosystems that compose coastal waters and adjacent areas, and (2) charting sustaining flows among these systems. The resulting boundary encompasses all environments of coastal waters (subaqueous areas containing a measurable quantity of seawater) and all shore‐lands (either emergent or submergent environments that interchange sustaining materials, energy, or biota with coastal waters). As this biophysical procedure depends on the precise location of, and functional transfers among, coastal ecosystems, it provides a means both for assessing the consequences of human actions and for establishing a landward boundary for a management program. Alternative boundaries not based on locations and operations of coastal ecosystems would probably be either arbitrary or of undue extent, nor would such “alternative”; boundaries be an integral part of an ongoing management process.     

Assessing land‐use regulations in coastal wetlands: The case of the long point area,lake Erie,Ontario

Abstract

The first comprehensive attempt at development control along the Canadian Great Lakes shoreline was the 1976 lakeshore regulation policy adopted by the Regional Municipality of Haldimand‐Norfolk on the north Lake Erie shore. This innovative strategy was initiated at the municipal level as a component of the regional land‐use planning process. Determination of efficiency and effectiveness of the policy implementation process is based on analysis of permit approval files. All development applications submitted between 1976 and 1980 in the Turkey Point and Long Point Peninsulas are evaluated. Those areas, the most popular cottaging areas in the region, are most susceptible to flood and erosion hazards. Of the total applications submitted during the four‐year study period, 37 percent were in these areas. The policy was ineffective and inefficient in controlling development in the two peninsulas. Applications were approved in the majority of cases, despite regulatory prohibition of developments in hazard‐susceptible areas. There were lengthy decision‐making delays, often exceeding one year, and frequent violations of regulatory procedures. Recommendations are suggested to improve policy implementation.     

Preface and Acknowledgments

Abstract

The term “mitigation”; has been used in connection with habitat losses attributable to federal water projects as early as the Rivers and Harbors Act of 1899 and the Fish and Wildlife Coordination Act of 1934. Most of the current requirements to mitigate habitat losses associated with water development projects apply to wetlands, as they are biologically productive and have been destroyed at an increasing rate during recent years by developers seeking prime land in the coastal zone. A case study of the Port of Coos Bay and the City of North Bend, Oregon, provides an actual experience of estuarine mitigation in a dredging project and an airport fill. The case was developed as part of a larger curriculum research study for seaport management. This article is primarily written as a case with a brief introduction and discussion of mitigation requirements, followed by the text of the case and ending with a series of hypotheses for further research.     

Inclusionary housing in the California coastal zone

Abstract

This article evaluates the performance of the California Coastal Commission's inclusionary housing program by examining: (1) the scope of the housing regulations, (2) initial permit decisions on residential projects, (3) the disposition of these permits overtime, and (4) the composition of completed projects and a best‐case projection of possible project completions. Using a case study of Southern California, factors affecting program success are discussed, including the effects of the various regulations, the availability of project subsidies, local government permit policies, and housing market fluctuations. The authors conclude that such state regulatory programs cannot be expected to succeed in urbanized coastal areas without incentives for developers and augmented state agency authority, superseding local land use controls.     

Widening the Panama Canal and U.S. ports: historical and economic impact analyses

ABSTRACT

The economic history of the U.S. illustrates how the role of many cities has been changed by being seaports or located on navigable rivers or lakes. Based on the widening of the Panama Canal in 2016, the West Coast ports that include the west coast seaports of California, Oregon, and Washington were expected to become less important, while the freight shares of the East Coast and Gulf ports would increase. By how much it has been not easy to measure or predict so far, but this study attempted to define some of the key parameters in the measurement. As well as several relevant background topics, both the demand- and supply-side versions of the National Interstate Economic Model, have been applied for the measurement of economic impacts. U.S. port authorities and policy makers at the local and national levels who respond and develop plans for coping with the new realities of the Panama Canal are able to understand the extent to which changes in shippers’ and land-mode transporters’ behaviors would undermine the logistics and the costs of their activities. Therefore, this study is important for a diverse spectrum of port development strategies in the U.S. to respond to the Canal expansion.     

Port authorities view state coastal management programs

Abstract

An estuarine sanctuary is a store of public values due to the ecological, cultural, recreational, aesthetic, historic, and economic services provided by the preserve. These values may be expected to increase over time because of (1) growth in the population demanding estuarine services, (2) growth in the willingness to pay for such services, and (3) growth in the actual quality and quantity of services which are provided by a protected natural system. Thus an estuarine sanctuary will be more valuable to future generations than to current generations. When weighing the cost and benefits of a preservation or development decision, a preservation decision which seems currently undesirable may in fact be socially beneficial when growth in the value of estuarine services is included.     

Household attitudes toward environmental quality in a coastal South Carolina County

Abstract

This paper presents an analysis of the findings of a survey of a sample of Beaufort county, South Carolina, households which was conducted to ascertain preferences for environmental quality. These preferences were approximated from survey responses on willingness to pay for environmental amenities and the size of payments households would require to forfeit them. A scale was developed and used to rank these responses ordinally, and the matrices of scaled responses for each of eight household annual‐income classes were subjected to factor analyses.     

The Sefton Coast Management Scheme: Project and Process

Abstract

The Sefton Coast Management Scheme in northwest England uses an area‐based project to achieve coordinated land management. It is founded on the ‘'Heritage Coast'’ model pioneered by the Countryside Commission where a ‘"Project Officer”; is employed to promote the Scheme and translate the aims into practical achievement. The Sefton Coast is described and a summary of British coastal planning policy precedes a detailed analysis of the Scheme. The Scheme is assessed with reference to practical management work, its success in competition for scarce financial resources, and the involvement of volunteers. It is established that the Project Officer is crucial to the success of the Scheme and that area‐based management can best be achieved through the local government planning process. Coastal planning needs now to be reviewed at national level to develop a policy for the whole coast using the experience of projects such as the Sefton Coast Management Scheme.