Search results for: ship finance

Authors: J. Sánchez-Beaskoetxea

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The analysis of accidents, such as marine accidents, is one of the most useful instruments to avoid future accidents. In the case of marine accidents, from a simple collision of a small boat in a port to the wreck of a gigantic tanker ship, the study of the causes of the accidents is the basis of a great part of the marine international legislation. Some countries have official institutions who investigate all the accidents in which a ship with their flag is involved. In the case of the USA, the National Transportation Safety Board (NTSB) is responsible for these researches. The NTSB, after a deep investigation into each accident, publishes a Marine Accident Report with the possible cause of the accident. This paper analyses all the Marine Accident Reports published by the NTBS and focuses its attention especially in the Human Errors that led to reported accidents. In this research, the different Human Errors made by crew members are cataloged in 10 different groups. After a complete analysis of all the reports, the statistical analysis on the Human Errors typology in marine accidents is presented in order to use it as a tool to avoid the same errors in the future.

Keywords: human error, marine accidents, ship crew, USA

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Authors: A. Ramkumar, Anvesh Sagar, Preetham P. Karkera

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Globalization in the modern era is dependent on the International logistics, the economic and reliable means is provided by the ocean going merchant vessel. The propulsion system which drives this massive vessels has gone through leaps and bounds of evolution. Most reliable system of propulsion adopted by the majority of vessels is by marine diesel engine. Since the first oil crisis of 1973, there is demand in increment of efficiency of main engine. Due to increase in the oil prices ship-operators explores for reduction in the operational cost of ship. And newly adopted IMO’s EEDI & SEEMP rules calls for the effective measures taken in this regard. The main engine of a ship suffers a lot of thermal losses, they mainly occur due to exhaust gas waste heat, radiation and cooling. So to increase the overall efficiency of system, we have to look into the solution to harnessing this waste energy of main engine to increase the fuel economy. During the course of research, engine manufacturers have developed many waste heat recovery systems. In our paper we see about additional options to harness this waste heat. The exhaust gas of engine coming out from the turbocharger still holds enough heat to go to the exhaust gas economiser to produce steam. This heat of exhaust gas can be used to heat a liquid of less boiling point after coming out from the turbocharger. The vapour of this secondary liquid can be superheated by a bypass exhaust or exhaust of turbocharger. This vapour can be utilized to rotate the turbine which is coupled to a generator. And the electric power for ship service can be produced with proper configuration of system. This can be included in PMS of ship. In this paper we seek to concentrate on power generation with use of exhaust gas. Thereby taking out the load on the main generator and increasing the efficiency of the system. This will help us to comply with the new rules of IMO. Our method helps to develop clean energy.

Keywords: EEDI–energy efficiency design index, IMO–international maritime organization PMS-power management system, SEEMP–ship energy efficiency management plan

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Authors: Elena Barbaro, Elena Gregoris, Rossano Piazza, Boris Mifka, Tatjana Ivošević, Ivo Orlić, Ana Alebić-Juretić, Andrea Gambaro, Daniele Contini

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The aim of the POSEIDON project is to quantify the relative contribution of maritime traffic and harbor activities to atmospheric pollutants concentration in four port-cities of the Adriatic Sea. This study focuses on the harbors of Venice and Rijeka. In order to investigate the main pollution sources, emission inventories were used as input for receptor models: PMF (positive matrix factorization) and PCA (principal components analysis); moreover source identification was also conducted using PAHs diagnostic ratios. The ship traffic impact was quantified: i) on gaseous and particulate PAHs, collected using a new method which consisted in a double simultaneous sampling, in different wind sectors; ii) applying PMF to data of metals, PAHs and ions in PM10; iii) using the vanadium concentration according to the Agrawal methodology.

Keywords: ship traffic, PMF, harbor, POSEIDON

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Authors: Nada Hamed, Mariam Aldhaheri, Sonia Abdennadher

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Islamic Finance is not a new term that emerging in the global market, but it is still under scope by many countries. Its characteristics and regulation are not widely clear and implemented. In 2015, The United Nation announced a plan about potential benefits of using Islamic Finance as a sustainable development approach. Enhancing its application in financial markets could protect from unexpected crisis that might be created from the traditional tools of finance. This paper focuses on this area to test if Islamic finance could be used for maintaining sustainable development and if the term of 'Green Islamic Finance' could be implemented to minimize the deficiencies and 'pollution’ generated from traditional techniques and tools of finance. This paper intends to measure the impact on financial performance and sustainability when financial institutions use Islamic finance or better practice it. The objective of this explanatory research is to measure the performance of Islamic Finance with using a case study of an Islamic bank. The paper would analyze and compare the behavior of financial institutions that used traditional financing tools and converted to Islamic banking system. The methodology used is based on a case study of an Islamic bank in Dubai with comparing its performance before implementing Islamic Finance and after. The selected case study represents the first national bank in Emirates Arab Unis who adopt the Islamic finance approach. Based on a time series analysis, a quantitative analysis would be also used through looking at various set of ratios that are routinely used to measure bank performance.

Keywords: Islamic finance, financial stability, green finance, Islamic finance practices, financial ratios

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Authors: Ismail Karaca, Ridvan Saracoglu, Omer Soner

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Fuzzy Logic, an advanced method to support decision-making, is used by various scientists in many disciplines. Fuzzy programming is a product of fuzzy logic, fuzzy rules, and implication. In marine science, fuzzy programming for ships is dramatically increasing together with autonomous ship studies. In this paper, a program to support the decision-making process for ship navigation has been designed. The program is produced in fuzzy logic and rules, by taking the marine accidents and expert opinions into account. After the program was designed, the program was tested by 46 ship accidents reported by the Transportation Safety Investigation Center of Turkey. Wind speed, sea condition, visibility, day/night ratio have been used as input data. They have been converted into a risk factor within the Fuzzy Logic Designer application and fuzzy rules set by marine experts. Finally, the expert's meteorological risk factor for each accident is compared with the program's risk factor, and the error rate was calculated. The main objective of this study is to improve the navigational safety of ships, by using the advance decision support model. According to the study result, fuzzy programming is a robust model that supports safe navigation.

Keywords: calculation of risk factor, fuzzy logic, fuzzy programming for ship, safety navigation of ships

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Authors: Danijela Tuljak-Suban, Valter Suban

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Food as perishable goods represents a specific and sensitive part in the supply chain theory, since changing of its physical or chemical characteristics considerably influences the approach to stock management. The most delicate phase of this process is transportation, where it becomes difficult to ensure stability conditions that limit the deterioration, since the value of the deterioration rate could be easily influenced by the transportation mode. Fuzzy definition of variables allows taking into account these variations. Furthermore an appropriate choice of the defuzzification method permits to adapt results, as much as possible, to real conditions. In the article will be applied the those methods to the relationship between the deterioration rate of perishable goods and transportation by ship, with the aim: (a) to minimize the total costs function, defined as the sum of the ordering cost, holding cost, disposing cost and transportation costs, and (b) to improve supply chain sustainability by reducing the environmental impact and waste disposal costs.

Keywords: perishable goods, fuzzy reasoning, transport by ship, supply chain sustainability

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Authors: Oumaima Lahmar

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This paper aims to define a structured topography for finance researchers seeking to navigate the body of knowledge in their extrapolation of finance phenomena. To make sense of the body of knowledge in finance, a probabilistic topic modeling approach is applied on 6000 abstracts of academic articles published in three top journals in finance between 1976 and 2020. This approach combines both machine learning techniques and natural language processing to statistically identify the conjunctions between research articles and their shared topics described each by relevant keywords. The topic modeling analysis reveals 35 coherent topics that can well depict finance literature and provide a comprehensive structure for the ongoing research themes. Comparing the extracted topics to the Journal of Economic Literature (JEL) classification system, a significant similarity was highlighted between the characterizing keywords. On the other hand, we identify other topics that do not match the JEL classification despite being relevant in the finance literature.

Keywords: finance literature, textual analysis, topic modeling, perplexity

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Authors: Umair Ashraf, Kjetil Uhlen, Sverre Eriksen, Nadeem Jelani

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Although advancement in technology has increased the reliability and ease of work in ship power system, but these advancements are also adding complexities. Ever increasing non linear loads, like power electronics (PE) devices effect the stability of the system. Frequent load variations and complex load dynamics are due to the frequency converters and motor drives, these problem are more prominent when system is connected with the weak grid. In the ship power system major consumers are thruster motors for the propulsion. For the control operation of these motors variable frequency drives (VFD) are used, mostly VFDs operate on nominal voltage of the system. Some of the consumers in ship operate on lower voltage than nominal, these consumers got supply through step down transformers. In this paper the vector control scheme is used for the control of both rectifier and inverter, parallel operation of the synchronous generators is also demonstrated. The simulation have been performed with induction motor as load on VFD and parallel RLC load. Fault analysis has been performed first for the system which do not have VFD and then for the system with VFD. Three phase to the ground, single phase to the ground fault were implemented and behavior of the system in both the cases was observed.

Keywords: non-linear load, power electronics, parallel operating generators, pulse width modulation, variable frequency drives, voltage source converters, weak grid

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Authors: Sukron Makmun, Topan Firmandha, Siswanto

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Ultimate Strength Assessment on ship cross section in accordance with Biro Klasifikasi Indonesia (BKI) Rules for Hull, follows step by step incremental iterative approach. In this approach, ship cross section is divided into plate-stiffener combinations and hard corners element. The average stress-strain relationship (σ-ε) for all structural elements will be defined, where the subscript k refers to the modes 0, 1, 2, 3 or 4. These results would be verified with a commercial software calculation in similar cases. The numerical calculations of buckling strength are in accordance with the commercial software (GL Rules ND). Then the comparison of failure behaviours of stiffened panels and hard corners are presented. Where failure modes 3 are likely to occur first follows the failure mode 4 and the last one is the failure mode 1.

Keywords: ultimate strength assessment, BKI rules, incremental, plate-stiffener combination and hard corner, commercial software

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Authors: Dina H. Gabr, Mona A. El Bannan

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With growing worldwide concern for global warming, green finance has become the fuel that pushes the world to act in combating and mitigating climate change. Coupled with adopting the Paris Agreement and the United Nations Sustainable Development Goals, Green finance became a vital tool in creating a pathway to sustainable development, as it connects the financial world with environmental and societal benefits. This paper provides a comprehensive review of the concepts and definitions of green finance and the importance of 'green' impact investments today. The core challenge in combating climate change is reducing and controlling Greenhouse gas emissions; therefore, this study explores the solutions green finance provides putting emphasis on the use of renewable energy, which is necessary for enhancing the transition to the green economy. With increasing attention to the concept of green finance, multiple forms of green investments and financial tools have come to fruition; the most prominent are green bonds. The rise of green bonds, a debt market to finance climate solutions, provide a promising mechanism for sustainable finance. Following the review, this paper compiles a comprehensive green bond dataset, presenting a statistical study of the evolution of the green bonds market from its first appearance in 2006 until 2021.

Keywords: climate change, GHG emissions, green bonds, green finance, sustainable finance

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Authors: Barbora Chmelíková

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Financial literacy is a widely discussed topic on the national and international level by governments, organizations and academia. For this reason this study analyses financial knowledge, financial behavior and financial attitudes of students of finance. The aim of the paper is to determine whether the financial literacy of university students studying finance differs from the level of financial literacy in selected OECD countries. The research was conducted at Masaryk University in the Czech Republic. The empirical study comprises questions related to several aspects of financial literacy, as well as socio-demographic data enabling more thorough analysis. The results indicate that improvement in financial literacy of university students is still required, even though their major is finance related.

Keywords: financial literacy, financial behavior, personal finance management, university students

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Authors: Asif Zaheer Shaikh, Zhaoyong Zhang, Jaime Yong, Ume Laila Shah

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Islamic finance is growing with remarkable pace, especially Islamic banking, a major segment of Islamic finance, is expanding rapidly. This paper discusses the position of Islamic finance and Islamic banking, around the world in general and particularly in Pakistan. History of Islamic banking in Pakistan is protested, presently a significant growth is observed. However Islamic banking is confronting with number of challenges, which are refraining from sustainable growth of this industry in Pakistan. Growth level of Islamic banks should be steeper to contribute substantial share in country’s economy. It is important to formulate effective policies, at institutional and operational level to address these challenges through close collaboration of key stakeholders.

Keywords: Islamic finance, challenges, Islamic banking, Pakistan

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Authors: Maria Tsompanoglou, Dimitris Armenis

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Vessel behavior in different operational and weather conditions constitutes the main area of interest for the ship operator. Ship speed and fuel consumption are the most decisive parameters in this respect, as their correlation provides information about the economic and environmental efficiency of the vessel, becoming the basis of decision making in terms of maintenance and trading. In the analysis of vessel operational profile for the evaluation of fuel consumption and the equivalent CO2 emissions footprint, the indications of Speed Through Water are widely used. The seasonal and regional variations in seawater characteristics, which are available nowadays, can provide the basis for accurate estimation of the errors in Speed Through Water indications at any time. Accuracy in the speed value on a route basis can enable operator identify the ship fuel and propulsion efficiency and proceed with improvements. This paper discusses case studies, where the actual vessel speed was corrected by a post-processing algorithm. The effects of the vessel correction to standard Key Performance Indicators, as well as operational findings not identified earlier, are also discussed.

Keywords: data analytics, MATLAB, vessel performance monitoring, speed through water

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Authors: Yawei Liang

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Threat from cruise missiles is among the most dangerous considerations to a warship in the modern era: anti-ship cruise missiles are fast, accurate, and extremely destructive. In this paper, the goal was to use an object-orientated environment to program a simulation to model a scenario in which a lone frigate is attacked by a wave of missiles fired at given intervals. The parameters of the simulation are modified to examine the relationships between different variables in the situation, and an analysis is performed on various aspects of the defending ship’s equipment. Finally, the results are presented, along with a brief discussion.

Keywords: discrete event simulation, Monte Carlo simulation, naval resource management, weapon-target allocation/assignment

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Authors: Khaled Moh. Alhamad

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This paper describes a tabu search heuristic for a ship routing and scheduling problem (SRSP). The method was developed to address the problem of loading cargos for many customers using heterogeneous vessels. Constraints relate to delivery time windows imposed by customers, the time horizon by which all deliveries must be made and vessel capacities. The results of a computational investigation are presented. Solution quality and execution time are explored with respect to problem size and parameters controlling the tabu search such as tenure and neighbourhood size.

Keywords: heuristic, scheduling, tabu search, transportation

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Authors: Muhammad Kashif

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The primary aim of this paper is to investigate the influence of financial technology (FinTech) on sustainable finance. The sample for this study spans from 2010 to 2021, encompassing data from 89 countries worldwide. The study employed two-stage least squares (2SLS) regression approach with the instrumental variables and validated the findings using a two-step system generalized method of moments (GMM). The findings indicate that fintech has a significant favorable impact on sustainable finance. While other factors such as institutional quality, socio-economic condition, and renewable energy have a significant and beneficial influence on the trajectory of sustainable finance, except globalization's impact is positive but insignificant. Furthermore, fintech is crucial in driving the transition toward a sustainable future characterized by a lower carbon economy. The study found that fintech has extensive application across various sectors of sustainable finance and has substantial potential to create long-term positive effects on sustainable finance. Fintech can integrate extensively with other technologies to facilitate diversified growth in sustainable finance. Additionally, this study highlights fintech-related trends and research opportunities in sustainable finance, showing how these can promote each other worldwide with important policy implications for countries looking to advance sustainable finance through technology.

Keywords: sustainable development goals (SDGs), financial technology (FinTech), genuine savings index (GSI), financial stability index, sustainable finance

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Authors: Kaan Koyuncu, Umut Celen Arican, Sevilay Can

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In the maritime industry, there have been regulations to prevent pollution, and the first attempt to offer a legal basis was Marpol Convention which was held in 1973 in order to provide a framework for the disposal of ship wastes. Based on this convention, ports are obliged to build waste receiving facilities. European Union regulations make several member countries to follow these directions, In Turkey, under Blue Card System, the quantity and types of wastes, the delivery time, the capacity of the receiving facilities, and other required information can be monitored online. Therefore, yachts and other boats with the bilge, sewage, and waste which illegally discharge into the sea, can be blocked. This system is an outcome of the law adopted from European Union regulations. In this study, the present systems in Turkey which occurred in 2010 after the integration of the system, which has been put in the force in 2000 in Europe will be analyzed and interpreted to provide a useful comparison, a practical guide, and a roadmap for potential improvements.

Keywords: Europe-Turkey, blue card, marine environment, ship waste tracking system

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Authors: Barbora Chmelíková

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Making sound financial decisions is an essential skill which can have an impact on life of each consumer of financial products. The aim of this paper is to examine decision-making concerning financial matters and personal finance. The selected target group was university students majoring in finance related fields. The study was conducted in the Czech Republic at Masaryk University in 2015. In order to analyze financial decision-making questions related to basic finance decisions were developed to address the research objective. The results of the study suggest gaps in detecting best solutions to given financial decision-making questions among finance students. The analysis results indicate relation between financial decision-making and own experience with holding and using concrete financial products.

Keywords: financial decision-making, financial literacy, personal finance, university students

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Authors: A. Radwan, A. Elbatran, A. Mehanna, M. Shehadeh

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The corrosion is natural chemical phenomenon that is applied in many engineering structures. Hence, it is one of the important topics to study in the engineering research. Ship and offshore structures are most exposed to corrosion due to the presence of corrosive medium of air and the seawater. Consequently, investigation of the corrosion behavior and properties over ship and offshore hulls is one of the important topics to study in the marine engineering research. Using sacrificial anode is the most popular solution for protecting marine structures from corrosion. Hence, this research investigates the extent of corrosion between the composite ship model and relative velocity of water, along with the sacrificial aluminum anode consumption and its degree of protection in seawater. In this study, the consumption rate of sacrificial aluminum anode with respect to relative velocity at different Reynold’s numbers was studied experimentally, and it was found that, the degree of cathodic protection represented by the cathode potential at a given distance from the aluminum anode was decreased slightly with increment of the relative velocity.

Keywords: corrosion, Reynold's numbers, sacrificial anode, velocity

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Authors: Seyong Jeong, Jinmo Park, Jinhyoun Park, Boram Kim, Kyoungsoo Ahn

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Energy management in the maritime industry is being required by economics and in conformity with new legislative actions taken by the International Maritime Organization (IMO) and the European Union (EU). In response, the various performance monitoring methodologies and data collection practices have been examined by different stakeholders. While many assorted advancements in operation and technology are applicable, their adoption in the shipping industry stays small. This slow uptake can be considered due to many different barriers such as data analysis problems, misreported data, and feedback problems, etc. This study presents a conceptual design of an energy management system (EMS) and proposes the methodology to resolve the limitations (e.g., data normalization using naval architectural evaluation, management of misrepresented data, and feedback from shore to ship through management of performance analysis history). We expect this system to make even short-term charterers assess the ship performance properly and implement sustainable fleet control.

Keywords: data normalization, energy management system, naval architectural evaluation, ship performance analysis

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Authors: Jaehoon Ha, Byungmo Kang, Kilho Hong, Jungsoo Park

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Electro-optical (EO) stabilized platforms have been widely used for surveillance and reconnaissance on various types of vehicles, from surface ships to unmanned air vehicles (UAVs). EO stabilized platforms usually consist of an assembly of structure, bearings, and motors called gimbals in which a gyroscope is installed. EO elements such as a CCD camera and IR camera, are mounted to a gimbal, which has a range of motion in elevation and azimuth and can designate and track a target. In addition, a laser range finder (LRF) can be added to the gimbal in order to acquire the precise slant range from the platform to the target. Recently, a versatile functionality of target localization is needed in order to cooperate with the weapon systems that are mounted on the same platform. The target information, such as its location or velocity, needed to be more accurate. The accuracy of the target information depends on diverse component errors and alignment errors of each component. Specially, the type of moving platform can affect the accuracy of the target information. In the case of flying platforms, or UAVs, the target location error can be increased with altitude so it is important to measure altitude as precisely as possible. In the case of surface ships, target location error can be increased with obliqueness of the elevation angle of the gimbal since the altitude of the EO stabilized platform is supposed to be relatively low. The farther the slant ranges from the surface ship to the target, the more extreme the obliqueness of the elevation angle. This can hamper the precise acquisition of the target information. So far, there have been many studies on EO stabilized platforms of flying vehicles. However, few researchers have focused on ship-borne EO stabilized platforms of the surface ship. In this paper, we deal with a target localization method when an EO stabilized platform is located on the mast of a surface ship. Especially, we need to overcome the limitation caused by the obliqueness of the elevation angle of the gimbal. We introduce a well-known approach for target localization using Unscented Kalman Filter (UKF) and present the problem definition showing the above-mentioned limitation. Finally, we want to show the effectiveness of the approach that will be demonstrated through computer simulations.

Keywords: target localization, ship-borne electro-optical stabilized platform, unscented kalman filter

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Authors: Amira Kaddour, Hedia Teraoui, Khmayes Bougatef

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The main purpose of this paper is to determine the major causes of the underdevelopment of Islamic finance in Tunisia. Indeed, it’s surprising to note that Zitouna bank established in May 2010 is the first Islamic Tunisian bank although 99% of Tunisians are Muslim and Islam is the religion of the State according to the Constitution. So we rely in our paper on the opinions of number of professors of finance and economics as educated people to prove or reject our hypothesis that the underdevelopment of Islamic finance in Tunisia can be explained by the ignorance of its main principles and advantages. Ours findings reveal that this branch of finance is still largely unknown, not only from public but also from professionals. The results obtained surprisingly show that this insignificance of Islamic banking cannot be explained by the fact that Tunisia has been governed since its independence by a secular left-wing party. Indeed, only 3% of respondents believe that legislation and regulation in Tunisia represent an obstacle to the development of Islamic finance. Moreover, respondents are not very optimistic about the future role of Islamic financing.

Keywords: Islamic banking, Islamic insurance (takaful), Islamic law (shariah), usury (riba)

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Authors: Imam Uddin, Imtiaz Ahmed Memon

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This paper analyzes the ideological contextuality of market oriented strategy language used by Industry leaders to envision the future of Islamic financial Institutions (IFIs) in the light of Wittgenstein language-games and Foucault’s power-discourse framework. The analysis infers that the explicit market orientation of strategy language and modern knowledge of finance now defines various concepts related of Islamic finance, let alone Islamic finance theory itself. Theorizing and practicing Islamic finance therefore under the dominant influence of modern strategy discourse and modern knowledge of finance has significant implications for developing an ethical and spiritual orientation of Islamic banks. The concerned academia and scholarship therefore need to review such trends and work around the possible degradation to the public image of IFIs and resulting disappointments of religiously inspired customers.

Keywords: Islamic finance discourse, strategy discourse, language games, strategic intent, productive misunderstanding

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Authors: Wu You, Burra Venkata Durga Kumar

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This study examines the promising potential of integrating Blockchain and Artificial Intelligence (AI) technologies to scalability in Distributed Systems within the field of supply chain finance. The finance industry is continually confronted with scalability challenges in its Distributed Systems, particularly within the supply chain finance sector, impacting efficiency and security. Blockchain, with its inherent attributes of high scalability and secure distributed ledger system, coupled with AI's strengths in optimizing data processing and decision-making, holds the key to innovating the industry's approach to these issues. This study elucidates the synergistic interplay between Blockchain and AI, detailing how their fusion can drive a significant transformation in the supply chain finance sector's Distributed Systems. It offers specific use-cases within this field to illustrate the practical implications and potential benefits of this technological convergence. The study also discusses future possibilities and current challenges in implementing this groundbreaking approach within the context of supply chain finance. It concludes that the intersection of Blockchain and AI could ignite a new epoch of enhanced efficiency, security, and transparency in the Distributed Systems of supply chain finance within the financial industry.

Keywords: blockchain, artificial intelligence (AI), scaled distributed systems, supply chain finance, efficiency and security

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Authors: Ramon Hernán, Maria Teresa Corzo

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This study examines the impact and contribution of the main journals in the discipline of behavioral finance to determine the state of the art of the discipline and the growth lines and concepts studied to date. This is a unique and novel study given that a review of the discipline has not been carried out through the keywords of the articles that allows visualizing through this component of the research, which are the main topics of discussion and the relationships that arise between the concepts discussed. To carry out this study, 3,876 articles have been taken as a reference, which includes 15,859 keywords from the main journals responsible for the growth of the discipline.; Journal of Behavioral Finance, Review of Behavioral Finance, Journal of Behavioral and Experimental Economics, Journal of Behavioral and Experimental Economics and Review of Behavioral Finance. The results indicate which are the topics most covered in the discipline throughout the period from 2000 to 2020, how these concepts have been dealt with on a recurring basis along with others throughout the aforementioned period and how the different concepts have been grouped based on the keywords established by the authors for the classification of their articles with a network diagram to complete the analysis.

Keywords: behavioral finance, keywords, co-words, top journals, data visualization

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Authors: Mahmoud Ashraf Farouk

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Shipping transportation is the foremost imperative mode of transportation in universal coordination. At display, more than 2/3 of the full worldwide exchange volume accounts for shipping transportation. Ships are utilized as an implies of marine transportation, introducing large-power diesel motors with exhaust containing nitrogen oxide NOx, sulfur oxide SOx, carbo di-oxide CO₂, particular matter PM10, hydrocarbon HC and carbon mono-oxide CO which are the most dangerous contaminants found in exhaust gas from ships. Ships radiating a large amount of exhaust gases have become a significant cause of pollution in the air in coastal areas, harbors and oceans. Therefore, IMO (the International Maritime Organization) has established rules to reduce this emission. This experiment shows the measurement of the exhaust gases emitted from the Aida IV ship's main engine using marine diesel oil fuel (MDO). The measurement is taken by the Sensonic2000 device on 85% load, which is the main sailing load. Moreover, the paper studies different emission reduction technologies as an alternative fuel, which as liquefied natural gas (LNG) applied to the system and reduction technology which is represented as selective catalytic reduction technology added to the marine diesel oil system (MDO+SCR). The experiment calculated the amount of nitrogen oxide NOx, sulfur oxide SOx, carbon-di-oxide CO₂, particular matter PM10, hydrocarbon HC and carbon mono-oxide CO because they have the most effect on the environment. The reduction technologies are applied on the same ship engine with the same load. Finally, the study found that MDO+SCR is the more efficient technology for the Aida IV ship as a training and supply ship due to low consumption and no need to modify the engine. Just add the SCR system to the exhaust line, which is easy and cheapest. Moreover, the differences between them in the emission are not so big.

Keywords: marine, emissions, reduction, shipping

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Authors: Chatelier Charlene, Oyegoke Adekunle, Ajayi Saheed, Jeffries Andrew

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This study seeks to understand Schedule Risk Assessments as a priori for better performance whilst exploring the strategies employed to deliver complex projects like the New Polar research ship. This high-profile vessel was offered to Natural Environment Research Council and British Antarctic Survey (BAS) by Cammell Laird Shipbuilders. The Research Ship was designed to support science in extreme environments, with the expectancy to provide a wide range of specialist scientific facilities, instruments, and laboratories to conduct research over multiple disciplines. Aim: The focus is to understand the allocation and management of schedule risk on such a Major Project. Hypothesising that "effective management of schedule risk management" could be the most critical factor in determining whether the intended benefits mentioned are delivered within time and cost constraints. Objective 1: Firstly, the study seeks to understand the allocation and management of schedule risk in Major Projects. Objective 2: Secondly, it explores "effective management of schedule risk management" as the most critical factor determining the delivery of intended benefits. Methodology: This study takes a retrospective review of schedule risk management and how it influences project performance using a case study approach for the RRS (Royal Research Ship) Sir David Attenborough. Research Contribution: The outcomes of this study will contribute to a better understanding of project performance whilst building on its under-researched relationship to schedule risk management for complex projects. The outcomes of this paper will guide further research on project performance and enable the understanding of how risk-based estimates over time impact the overall risk management of the project.

Keywords: complexity, major projects, performance management, schedule risk management, uncertainty

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Authors: Grace karimi Muriithi, Behnaz Papari, Ali Arsalan, Christopher Shannon Edrington

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Complexity and nonlinearity of the control system design is increasing for DC microgrid applications when the cyber concept associated with the technology constraints will added to the picture. Controllers’ functionality during the critical operation mode is required to guaranteed specifically for a high profile applications such as NAVY DC ship power system (SPS) as an small-scaled DC microgrid. Thus, SPS is susceptible to cyber-attacks and, accordingly, can provide the disastrous effects. In this study, a machine learning (ML) approach is demonstrated to offer the promising performance of SPS for developing an effective and robust functionality over attacks time. Simulation results analysis demonstrate that the proposed method can improve the controllability successfully.

Keywords: controlability, cyber attacks, distribute control, machine learning

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Authors: Jutharat Sunprasert, Ekapong Hirunsirisawat, Narongrit Waraporn, Somporn Peansukmanee

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Metal Ship and Robotic Car is one of the hands-on activities in the course, the Fundamental of Engineering that can be divided into three parts. The first part, the metal ships, was made by using engineering drawings, physics and mathematics knowledge. The second part is where the students learned how to construct a robotic car and control it using computer programming. In the last part, the students had to combine the workings of these two objects in the final testing. This aim of study was to investigate the effectiveness of hands-on activity by integrating Science, Technology, Engineering and Mathematics (STEM) concepts to develop scientific and engineering skills. The results showed that the majority of students felt this hands-on activity lead to an increased confidence level in the integration of STEM. Moreover, 48% of all students engaged well with the STEM concepts. Students could obtain the knowledge of STEM through hands-on activities with the topics science and mathematics, engineering drawing, engineering workshop and computer programming; most students agree and strongly agree with this learning process. This indicated that the hands-on activity: “Metal Ship and Robotic Car” is a useful tool to integrate each aspect of STEM. Furthermore, hands-on activities positively influence a student’s interest which leads to increased learning achievement and also in developing scientific and engineering skills.

Keywords: hands-on activity, STEM education, computer programming, metal work

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Authors: Vinko Vidučić, Ljiljana Vidučić, Damir Boras

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The goals of the research include the determination of the characteristics of SMEs finance in Croatia, as well as the determination of indirect growth rates of the information model of the entrepreneurs` perception of business environment. The research results show that cost of finance and access to finance are most important constraining factor in setting up and running the business of small entrepreneurs in Croatia. Furthermore, small entrepreneurs in Croatia are significantly dissatisfied with the administrative barriers although relatively to a lesser extent than was the case in the pre-crisis time. High collateral requirement represents the main characteristic of bank lending concerning SMEs followed by long credit elaboration process. Formulated information model has defined the individual impact of indirect growth rates of the remaining variables on the model’s specific variable.

Keywords: business environment, information model, indirect growth rates, SME finance

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