Economic Analysis for Investment of Public Sector’s Automated Container Terminal: Korean Case Study
The purpose of this case study is to conduct an economic analysis to calculate the proper terminal capacity of automated container terminal (ACT) investment from the perspective of the public sector. As a key element of smart port, the ACT is an important terminal operating facility for import/expor...
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| Format: | Article |
| Language: | English |
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MDPI AG
2021-04-01
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| Series: | Journal of Marine Science and Engineering |
| Subjects: | |
| Online Access: | https://www.mdpi.com/2077-1312/9/5/459 |
| _version_ | 1797536596657963008 |
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| author | Yohan An Namkyu Park |
| author_facet | Yohan An Namkyu Park |
| author_sort | Yohan An |
| collection | DOAJ |
| description | The purpose of this case study is to conduct an economic analysis to calculate the proper terminal capacity of automated container terminal (ACT) investment from the perspective of the public sector. As a key element of smart port, the ACT is an important terminal operating facility for import/export and transshipment cargo between countries and must have facilities with sufficient capacity to load/unload export/import cargo in a timely manner according to the user’s request. Recently, the method of calculating the capacity of seaport infrastructure is changing from the method of applying the maximum capacity to the method of applying the proper capacity. Therefore, it is desirable to expand port facilities by investigating proper capacity rather than expanding port facilities based on the maximum performance. This study is a case study focusing on the new port of Busan introducing the ACT. From the perspective of national fiscal income and national economy from the ACT investment, this study determines the proper terminal capacity for each berth. As a result of economic analysis, the break-even terminal capacity to secure economic feasibility is from 544,272TEU of the nine berths to 600,138TEU of two berths applying a 2.96% discount ratio. In a sensitivity analysis considering the social discount rate and the change in the size of berths, the net present value has a positive value from a minimum of 530,000 TEU (nine berths with 1.96% social discount ratio) to a maximum of 620,000 TEU (three berths with 3.46% social discount ratio). |
| first_indexed | 2024-03-10T12:02:02Z |
| format | Article |
| id | doaj.art-95502eddc26c4f33a067a23ac534cc33 |
| institution | Directory Open Access Journal |
| issn | 2077-1312 |
| language | English |
| last_indexed | 2024-03-10T12:02:02Z |
| publishDate | 2021-04-01 |
| publisher | MDPI AG |
| record_format | Article |
| series | Journal of Marine Science and Engineering |
| spelling | doaj.art-95502eddc26c4f33a067a23ac534cc332023-11-21T16:51:56ZengMDPI AGJournal of Marine Science and Engineering2077-13122021-04-019545910.3390/jmse9050459Economic Analysis for Investment of Public Sector’s Automated Container Terminal: Korean Case StudyYohan An0Namkyu Park1Department of Finance & Accounting, Tongmyong University, Busan 48520, KoreaDepartment of International Logistics, Tongmyong University, Busan 48520, KoreaThe purpose of this case study is to conduct an economic analysis to calculate the proper terminal capacity of automated container terminal (ACT) investment from the perspective of the public sector. As a key element of smart port, the ACT is an important terminal operating facility for import/export and transshipment cargo between countries and must have facilities with sufficient capacity to load/unload export/import cargo in a timely manner according to the user’s request. Recently, the method of calculating the capacity of seaport infrastructure is changing from the method of applying the maximum capacity to the method of applying the proper capacity. Therefore, it is desirable to expand port facilities by investigating proper capacity rather than expanding port facilities based on the maximum performance. This study is a case study focusing on the new port of Busan introducing the ACT. From the perspective of national fiscal income and national economy from the ACT investment, this study determines the proper terminal capacity for each berth. As a result of economic analysis, the break-even terminal capacity to secure economic feasibility is from 544,272TEU of the nine berths to 600,138TEU of two berths applying a 2.96% discount ratio. In a sensitivity analysis considering the social discount rate and the change in the size of berths, the net present value has a positive value from a minimum of 530,000 TEU (nine berths with 1.96% social discount ratio) to a maximum of 620,000 TEU (three berths with 3.46% social discount ratio).https://www.mdpi.com/2077-1312/9/5/459automated container terminal capacityeconomic analysispublic sector |
| spellingShingle | Yohan An Namkyu Park Economic Analysis for Investment of Public Sector’s Automated Container Terminal: Korean Case Study Journal of Marine Science and Engineering automated container terminal capacity economic analysis public sector |
| title | Economic Analysis for Investment of Public Sector’s Automated Container Terminal: Korean Case Study |
| title_full | Economic Analysis for Investment of Public Sector’s Automated Container Terminal: Korean Case Study |
| title_fullStr | Economic Analysis for Investment of Public Sector’s Automated Container Terminal: Korean Case Study |
| title_full_unstemmed | Economic Analysis for Investment of Public Sector’s Automated Container Terminal: Korean Case Study |
| title_short | Economic Analysis for Investment of Public Sector’s Automated Container Terminal: Korean Case Study |
| title_sort | economic analysis for investment of public sector s automated container terminal korean case study |
| topic | automated container terminal capacity economic analysis public sector |
| url | https://www.mdpi.com/2077-1312/9/5/459 |
| work_keys_str_mv | AT yohanan economicanalysisforinvestmentofpublicsectorsautomatedcontainerterminalkoreancasestudy AT namkyupark economicanalysisforinvestmentofpublicsectorsautomatedcontainerterminalkoreancasestudy |