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.     

Second-order perturbation added mass fluctuation on vertical vibration of tension leg platforms

Total motion in waves can be considered as a superposition of the motion of the body in still water and the forces on the restrained body. In this study the effect of added mass fluctuation on vertical vibration of tension leg platforms (TLP) in the case of vibration in still water for both free and forced vibration subjected to axial load at the top of the leg is presented. This effect is more important when the amplitude of vibration is large. Also this is important in fatigue life study of tethers. The structural model used here is very simple. Perturbation method is used to formulate and solve the problem. First- and second-order perturbations are used to solve the free and forced vibrations, respectively.     

A review of the Effect of α/W ratio on fracture toughness （Ⅱ） experimental investigation in LEFM

In part I of this series, experimental investigation in EPFM （elastic-plastic fracture mechanics） had been discussed. In this paper, experimental investigation in LEFM （ linear elastic fracture mechanics） is given. Fracture toughness tests had been carried out on three different strength steels, using both through-cracked specimens with different α/W ratio and semi-elliptical cracked specimens with variable crack size and shape. Results show that the fracture toughness KIC increases with decreasing α/W when α/W 〈 0.3 for three-point-bend specimens, and that for α/W 〉 0.3, it is independent of α/W. Shallow crack specimens, both through-cracked and surface-cracked, gave markedly higher values than deeply notched specimens. However, the effect of crack shape on fracture toughness is negligible. Results also show that the LEFM approach to fracture is not tenable for design stresses where αc is often very small, far less than 2.5 （ KIC/σy）^2.     

Ground truthing sediment profile imagery with traditional benthic survey data along an established disturbance gradient

Macrobenthic surveys are an expensive, slow and labour intensive means to establish the health of benthic communities. Sediment profile imagery (SPI) is a means of rapid reconnaissance for monitoring large areas of the benthos. SPI has often been used to monitor gross anthropogenic disturbance. The aim of this study is to determine if SPI can be used as a tool to reliably map change in communities along natural estuarine gradients. Macrobenthic sampling was carried out at five stations along an established estuarine gradient. This faunal data was analysed using standard multivariate techniques and to ground truth a concurrent SPI survey. Faunal analysis showed that habitat quality in Inner Galway Bay was generally good, with some localised disturbance from the River Corrib and the sewage out flow exterior to the city dock. Four distinct groups were identified with a degree of overlap occurring between stations 3 and 4. While existing SPI indices mapped habitat quality in the same manner as the faunal data for end member stations, the level of distinction between the habitats of an intermediate staging was found to be poor. This lack of distinction amongst the stage 2 and 3 stations was overcome by developing a tailored index, the Galway Bay index of habitat quality (GBHQ). This index was derived from the 5 observed variables in the SPI data that were determined to best match the faunal distribution by permutative mantel testing. The 5 observed variables from the SPI data were the depth of the apparent redox potential discontinuity (aRPD), the depth of penetration by the prism, and the presence/absence of infauna, surface faecal pellet layer and biogenic mounding. The GBHQ was able to distinguish between the 5 stations to a greater extent than previously described indices, showing clearly the separate groupings defined by the faunal data. The index was tested on a follow up SPI survey and shown to be applicable in mapping a broader range of habitats in Galway Bay. Indices generated for localised mapping of estuarine gradients should be derived from observed features and be ground truthed using faunal data. Some aspects of the GBHQ should be generally applicable to fine grained boreal estuarine sediments (aRPD/penetration), while others may be of limited utility in other locations depending on the digging characteristics of the particular SPI camera, and local factors influencing the persistence of biogenic features in the profile. This derivation technique provides a simple way to optimise SPI to particular studies and localities.     

Urban transportation modeling: The discussion continues

This article is a response to John Polak's article, entitled, A Comment on Supernak's Critique of Transport Modeling, published elsewhere in this issue of TRANSPORTATION. It offers necessary clarifications to the issues discussed in an earlier article in this journal (Supernak, 1983). It also responds to the philosophical issues discussed in Polak's article, such as the nature of transport phenomena, and the role, form and methodology of transport modeling.     

Micro-Grinding Performance of Hard-Brittle Chip Materials in Precision Micro-Grinding Microgroove

The micro-structure on hard-brittle chip materials (HBCMs) surface can produce predominant functions and features. The micro-grinding with diamond wheel micro-tip is an efficient method to machine microstructure on HBCMs. However, different HBCMs and crystal orientation may have a significant influence on the micro-grinding performance. In this paper, the micro-grinding performance along different crystal orientation of HBCMs is investigated. First, a dressed 600^# diamond grinding wheel is used to micro-grind micro-structure on HBCMs. Then, the experiment of micro-grinding force test is completed. Finally, the quality of microgroove, the grinding ratio and the micro-grinding force are investigated and they are related to the crystal orientation of HBCMs. It is shown that the stronger resistance to the micro-crack propagation has the best quality of microgroove and the smallest grinding ratio. Moreover, the hardest single-crystal SiC has the best machinability and the micro-grinding force is 38.9%, 10.8% and 46.8% less than the one of sapphire, single-crystal Si and quartz glass, respectively. The direction to micro-grind easily is the crystal orientation 〈10\(\overline 1 \)0〉 for single-crystal SiC and sapphire. In addition, the micro-grinding force increases with the increase of the micro-grinding depth and feed rate and decreases with the increase of the grinding wheel speed.     

Lattice-based group signature with verifier-local revocation

Among several post quantum primitives proposed in the past few decades, lattice-based cryptography is considered as the most promising one, due to its underlying rich combinatorial structure, and the worst-case to average-case reductions. The first lattice-based group signature scheme with verifier-local revocation(VLR) is treated as the first quantum-resistant scheme supported member revocation, and was put forward by Langlois et al. This VLR group signature(VLR-GS) has group public key size of O(nm log N log q), and a signature size of O(tm log N log q log β). Nguyen et al. constructed a simple efficient group signature from lattice, with significant advantages in bit-size of both the group public key and the signature. Based on their work, we present a VLR-GS scheme with group public key size of O(nm log q) and signature size of O(tm log q). Our group signature has notable advantages: support of membership revocation, and short in both the public key size and the signature size.     

激光堆焊工艺在修造领域的应用现状及发展趋势

本文详细阐述了激光堆焊工艺在工业修造领域的应用现状及发展趋势,介绍了激光束的能源、输送和聚焦系统、堆焊材料及激光设备。重点说明了其在修造领域的应用工艺。     

Use and perceptions of a real time passenger information system

The use of high-technology systems in the transport sector has increased steadily over recent years. This paper outlines the development of vehicle monitoring and control systems and their use in the public transport arena. The paper shows how one such system, that operated by Datatrak Ltd., has been adapted to provide a real time passenger information system for the RiverBus Partnership in London.

1 The RiverBus service described in this article ceased operation in August 1993. The collapse of the RiverBus Partnership followed the financial difficulties surrounding Olympia and York, developers of Canary Wharf in London Docklands.

Passenger use and perception of the system is evaluated, based on surveys of RiverBus users. This provides an evaluation of the system, and highlights the importance of introducing such systems based on user information needs and as part of the total marketing package.