The market for second-hand ships: Further results on efficiency using cointegration analysis

This paper examines the dynamic behaviour of second-hand prices of tankers and dry-cargo vessels over various time periods, with a view to determining whether or not the markets for such assets are efficient. It extends and re-analyses the results of an earlier study by Hale and Vanags, published in this journal in 1992. Using a more modern method of testing for cointegration, it is shown that both the tanker and dry cargo markets appear to be cointegrated, a fact which would suggest that these markets are inefficient. It is suggested that the existence of cointegration does not necessarily imply market inefficiency, if the factors that create the common trends are themselves stochastic in nature. With this in mind, it is argued that the evidence put forward in this paper is still consistent with market efficiency in the long run.     

Mathematical Modelling of Vibrations and Loading of Railway Tanks Taking into Account the Liquid Cargo Mobility

Dynamics and loading of railway tank cars transporting liquid cargo are investigated. The approach based on the mechanical-pendulum analogy for the liquid cargo mobility simulation is proposed. Hydrodynamic parameters of the mechanical analogy are determined using the solution of the boundary-value problem for the liquid cargo vibrations in a cavity with the tank boiler shape. The fitting of the developed mathematical models is proved by comparison of calculated results and test data. Vibration characteristics and loading of tank-cars under their shunt collisions and motion along straight and curved track in trains are evaluated. It is shown that as a rule the liquid cargo mobility has an essential influence on tank dynamic properties.     

The dynamics of traffic assignment and traffic control: A theoretical study

The paper considers traffic assignment, with traffic controls, in an increasingly dynamic way. First, a natural way of introducing the responsive policy, P_o, into steady state traffic assignment is presented. Then it is shown that natural stability results follow within a dynamical version of this static equilibrium model (still with a constant demand). We are able to obtain similar stability results when queues are explicitly allowed for, provided demand is constant. Finally we allow demand to vary with time; we consider the dynamic assignment problem with signal-settings now fixed. Here we assume that vehicles are very short and that deterministic queueing theory applies, and show that the time-dependent queueing delay at the bottleneck at the end of a link is a monotone function of the time-dependent input profile to the bottleneck. We have been unable to obtain results when dynamic demand and responsive signal control are combined.     

A dynamic stochastic assignment model for the analysis of general networks

The paper adopts the framework employed by the existing dynamic assignment models, which analyse specific network forms, and develops a methodology for analysing general networks. Traffic conditions within a link are assumed to be homogeneous, and the time varying O-D travel times and traffic flow patterns are calculated using elementary relationships from traffic flow theory and link volume conservation equations. Each individual is assumed to select a departure time and a route by trading off the travel time and schedule delay associated with each alternative. A route is considered as reasonable if it includes only links which do not take the traveller back to the origin. The set of reasonable routes is not consistant but depends on the time that an individual decides to depart from his origin. Equilibrium distributions are derived from a Markovian model which describes the evolution of travel patterns from day to day. Numerical simulation experiments are conducted to analyse the impact of different work start time flexibilities on the time dependent travel patterns. The similarity between link flows and travel times obtained from static and dynamic stochastic assignment is investigated. It is shown that in congested networks the application of static assignment results in travel times which are lower than the ones predicted by dynamic assignment.     

Using longitudinal methods for analysis of a short-term transportation demonstration project

This paper documents an application of panel, or longitudinal data collection in the evaluation of a TSM (Transportation Systems Management) demonstration project. The project was a four-week demonstration of staggered work hours in downtown Honolulu during February–March 1988. The 4 wave panel survey elicited commuting experiences of approximately 2,000 downtown employees at two week intervals before and during the project. The sample involved both employees who participated in the project by shifting their work hours, and those who did not. The panel survey was augmented by floating-car observations of travel times on major routes into downtown Honolulu on the same four dates.The purpose of the analysis was to determine whether employee commute times were affected, and if so, how these changes were distributed among various employee segments. Two methods were used. First, travel time changes were estimated using paired t-tests. Second, regression equations were used to estimate project time savings as a function of trip length, route, and location of residence. Results show that travel time savings due to the project were typically small, less than ten percent. Nonparticipants experienced greater savings than participants, and some segments of participants experienced longer travel times during the project. The panel method proved to be an effective way to measure project travel time impacts and shows that the method is appropriate in short time applications.Presented at the Annual Meeting of Transportation Research Board, January 7–11. 1990, Washington, D.C.     

Coupled transport-reaction pathways and distribution patterns between siliciclastic-carbonate sediments at the Ria de Vigo

This paper examines the linkages between the space-distribution of grain sizes and the relative percentage of the amount of mineral species that result from the mixing process of siliciclastic and carbonate sediments at the Ria de Vigo (NW of Spain).The space-distribution of minerals was initially determined, starting from a detailed mineralogical study based on XRD-Rietveld analysis of the superficial sediments. Correlations between the maps obtained for grain sizes, average fractions of either siliciclastic or carbonates, as well as for individual-minerals, were further stabilised. From this analysis, spatially organized patterns were found between carbonates and several minerals involved in the siliciclastic fraction. In particular, a coupled behaviour is observed between plagioclases and carbonates, in terms of their relative percentage amounts and the grain size distribution.In order to explain these results a conceptual model is proposed, based on the interplay between chemical processes at the seawater–sediment interface and hydrodynamical factors. This model suggests the existence of chemical control mechanisms that, by selective processes of dissolution-crystallization, constrain the mixed environment's long-term evolution, inducing the formation of self-organized sedimentary patterns.     

The Nigerian shipping industry and indigenous shipping companies

The shipping industry in Nigeria since the early 1990s has been experiencing a continuous disastrous downturn. Nigerian shipping companies' participation in international shipping has continued to be very limited. Their presence and impact is hardly felt in the world's shipping industry. Both the national carriers (that is shipping companies with national carrier status) and other indigenous private shipping companies have vessel as well as management problems. These problems have led to the poor performance of the Nigerian shipping industry for over a decade now. The carriers in the industry are not attaining for the country the gains that are supposed to emanate from shipping. This paper points out the importance of shipping to a nation, identifies the problems the country's shipping companies are facing and proffers solutions that include merging of the companies to have strong financial standing and a competitive edge.     

单片机测控系统的抗干扰技术

本文介绍了单片机测控系统所受干扰的种类和传播途径,并针对其组成部件的电路结构、功能特点、所处环境提出了具体的抗干扰技术.     

利用RBF神经网络预测和消弱低频无线电导航定位误差

由于诸多因素的影响，导致了低频无线电导航系统的定位误差和GPS卫星导航系统的定位误差之间存在较大的差距，拟采用径向基函数（RBF）网络来预测电波传播误差，以期达到修正现有低频无线电导航系统定位误差的目的，从而进一步提高低频无线电导航定位的精度。