Investment strategies in market uncertainty

The nature of the global economy is one of dynamic change. Shipping is a service industry with its demand related to changes in international trade levels and patterns. As a consequence shipping is subject to sometimes unpredictable swings in demand so that the operator is required to make strategic planning decisions while navigating through boom or bust environments. While boom economies generate rising freight rates which are welcomed and encourage investment, ship operators may also have to face falling freight demand and declining freight rates that may have significant impact on profitability, often falling to uneconomic levels for extended periods. In such a period of uncertainty and declining profitability management will make operational decisions to reduce costs. However, shipping lines operate in a market environment so any decisions made to rationalize the trade may have significant long-term competitive implications. For example, traditional micro economic theory might suggest that the prudent strategy to adopt would be to close down the operation and reopen when the market conditions improve. In a world of certainty or when costs of taking this action are zero, this would be a valid strategy. However, because of fear of competitors taking up a line's market share if the shipping company exits, even temporarily, this strategy cannot be valued simply in terms of shut-down and start-up costs. A further consideration is the fact that standard capital budgeting techniques, such as Net Present Value (NPV), cannot incorporate the flexibility to respond to new information and strategic responses explicitly into their investment analysis. This paper will demonstrate the use of Real Option Analysis (ROA) to provide guidelines for decisions about closing operations in adverse market conditions.     

铜汤公路工程对沿线珍稀濒危野生动物的影响及对策

根据对铜陵至汤口公路评价区野外调查的结果,综合相关历史资料,以黑麂为“代理种”(surrogate species),分析拟建项目对珍稀濒危野生动物的影响程度。结果表明:①铜汤公路K151-K160段和K173 500至终点段处于黑麂的一般活动区,但铜汤公路全线均位于海拔400 m以下,不直接侵占黑麂的栖息地和主要觅食区;②公路施工期初期,受爆破噪音的影响,黑麂等珍稀濒危野生动物可能会远离公路沿线区域,爆破作业结束后的施工期和运营期,噪声对黑麂的影响范围为公路中心线两侧200 m以内区域;③铜汤公路在大部分路段均不会对公路两侧珍稀濒危野生动物的通行造成明显影响,也不会使种群异质化程度加剧,但在K173 500至终点段,由于105国道和本项目的共同影响,附近区域的黑麂种群将形成异质种群。针对上述影响,对铜汤公路动物通道设置、林区施工管理、局部绿化方案、施工人员教育和管理以及野生动物保护应急能力建设等提出了针对性的缓解措施。     

永久边坡双面聚能切割预裂爆破研究

综述边坡稳定性与各种爆破方法之间的关系，探讨聚能切割预裂爆破的发展与基本原理，并对聚能切割预裂爆破的研制过程及其在大窑湾二期工程中的应用作简单介绍。     

基于设计模式的科研项目管理系统设计研究

介绍基于设计模式的高校科研项目管理系统的设计。针对科研项目管理系统的开发,提出一个基于模式的设计方案,解决系统开发过程中功能扩展以及代码重用等问题。     

黄陵洞大桥水平转体施工关键技术研究

黄陵洞大桥为主跨152m的上承式拱桥，拱肋为劲性钢管骨架混凝土箱形结构。从施工工艺和受力角度对磨心、磨盖的制作方式进行了重点阐述，并着重介绍了该桥转体施工中钢管骨架的受力性能和混凝土徐变带来的影响，对转体施工脱架索力的控制、劲性骨架施工受力和变形监测、劲性骨架箱拱温度效应进行了分析。     

大体积混凝土温度裂缝成因及防预措施

萧山港区及其物流现状萧山港区是杭州港四大港区中唯一位于钱塘江南岸的相对独立港区。近些年来,杭州港萧山港区的建设得到了快速发展。2006年完成货物吞吐量1157万吨,约占杭州港年度     

Meta-analysis of public transport demand

The present study uses meta-regression in order to explain the wide variation in elasticity estimates obtained in previous demand studies, and provide summaries of several bus demand elasticities.One important finding as to the price elasticity is that the often cited rule of thumb of −0.3 holds good if quality of service represented by vehicle-kilometres is treated as an exogenous variable, but not when it is treated as endogenous.Based on the results it is recommended that demand models should include car ownership, price of petrol, own price, income and some measure of service among the explanatory variables and that the service variable should be treated as endogenous.In previous meta-studies in this field focus has been on own price elasticity only while this study also includes elasticities with respect to, level of service, income, price of petrol and car ownership. The short run for the US are found to be −0.59, 1.05, −0.62, 0.4 and −1.48 respectively.     

基于神经网络的汽轮发电机组推力瓦块拆检周期改进

运用人工神经网络的方法对某舰用汽轮发电机组的滑油铜含量进行分析,找出铜含量的变化规律,然后与曲线拟合进行数据处理的方法作比较,结果表明,基于遗传算法的BP网络模型比曲线拟合模型的预报精度明显提高,预报结果稳定,且建立模型的过程较为简单。     

潜艇中修时耐压船体大开口的强度计算

使用国际通用的大型有限元分析软件,对某型潜艇中修时耐压船体及舱壁上开口后艇体的强度及变形情况进行分析计算,计算结果表明,开口后艇体及开口区域的应力及变形均较小,满足修理要求。