摘要：This paper investigated if differences of the profits of the Korean and other global shipping companies were affected by the shipping route specialization. A panel data model was applied to nine shipping companies during the 2009-2015 period, to determine to what extent freight rate, bunker fuel prices, scale economies and chartered vessel ratios affected the profits. The results showed freight rate exerted a significant positive impact and bunker fuel price a significant negative effect on the profits. However, scale economies' effects and chartered vessel ratios were insignificant or at best obscure, thus requiring a more in-depth study in this direction.
关键词：Korea Shipping Industry
; Competitiveness
; Economies of Scale
; Chartered Vessel Ratio
; Panel Data
