Search results for: cold press

Authors: Derya Ören Duran, Şeyma Akalin Benderli

Abstract:

Cold press technique is a traditional method to obtain oil. The cold-pressing procedure involves neither heat nor chemical treatments; therefore, cold press technique has low oil yield. The cold pressed herbal material residue still contains some oil after cold press. In this study, the oil that is remained in the cold pressed aniseed was extracted with hexane; and it was analyzed to determine physicochemical properties and quality parameters. It was found that the aniseed after cold press process still contained 10% oil. The values of other analysis parameters were 2.1 mgKOH/g for free fatty acid (FFA) and 7.6 meq0₂/kg for peroxide. Cold pressed aniseed oil values were determined as 2.1 mgKOH/g for FFA and 4.5 meq0₂/kg for peroxide, respectively. In addition, fatty acid composition was analyzed, and it was found that both types of oil had same fatty acid compositions. The main fatty acids were oleic, linoleic and palmitic acids.

Keywords: Aniseed oil, cold press, extraction, residue.

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Authors: Shoujia Fang, Guoqing Ding, Xin Chen

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The quality of press-fit assembly is closely related to reliability and safety of product. The paper proposed a keypoint detection method based on convolutional neural network to improve the accuracy of keypoint detection in press-fit curve. It would provide an auxiliary basis for judging quality of press-fit assembly. The press-fit curve is a curve of press-fit force and displacement. Both force data and distance data are time-series data. Therefore, one-dimensional convolutional neural network is used to process the press-fit curve. After the obtained press-fit data is filtered, the multi-layer one-dimensional convolutional neural network is used to perform the automatic learning of press-fit curve features, and then sent to the multi-layer perceptron to finally output keypoint of the curve. We used the data of press-fit assembly equipment in the actual production process to train CNN model, and we used different data from the same equipment to evaluate the performance of detection. Compared with the existing research result, the performance of detection was significantly improved. This method can provide a reliable basis for the judgment of press-fit quality.

Keywords: Keypoint detection, curve feature, convolutional neural network, press-fit assembly.

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Authors: B.-A. Behrens, H. J. Maier, A. Neumann, J. Moritz, S. Hübner, T. Gretzki, F. Nürnberger, A. Spiekermeier

Abstract:

Press-hardened profiles are used e.g. for automotive applications in order to improve light weight construction due to the high reachable strength. The application of interior water-air spray cooling contributes to significantly reducing the cycle time in the production of heat-treated tubes. This paper describes a new manufacturing method for producing press-hardened hollow profiles by means of an additional interior cooling based on a water-air spray. Furthermore, this paper provides the results of thorough investigations on the properties of press-hardened tubes in dependence of varying spray parameters.

Keywords: 22MnB5, hollow profiles, press hardening, tubes, water-air spray cooling.

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Authors: Dong Hun Kim, Won Kyu Lee, Sok Won Kim

Abstract:

Small cracks or chips of a product appear very frequently in the course of continuous production of an automatic press process system. These phenomena become the cause of not only defective product but also damage of a press mold. In order to solve this problem AE system was introduced. AE system was expected to be very effective to real time detection of the defective product and to prevention of the damage of the press molds. In this study, for pick and analysis of AE signals generated from the press process, AE sensors/pre-amplifier/analysis and processing board were used as frequently found in the other similar cases. For analysis and processing the AE signals picked in real time from the good or bad products, specialized software called cdm8 was used. As a result of this work it was conformed that intensity and shape of the various AE signals differ depending on the weight and thickness of metal sheet and process type.

Keywords: press, acoustic emission, signal processing

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Authors: Gong Jie, Yu Qianxu, Liu Min, Shan Weiwei

Abstract:

The design of methods of the 20 K large dimension cold shield used for infrared radiation demarcating in space environment simulation test were introduced in this paper. The cold shield were cooled by five G-M cryocoolers , and the dimension of the cold shield is the largest in our country.Cold shield installation and distribution and compensator for contraction on cooling were introduced detailedly. The temperature distribution and cool-down time of cold shield surface were also calculated and analysed in this paper. The design of cold shield resolves the difficulty of compensator for contraction on cooling successfully. Test results show that the actual technical performance indicators of cold shield met and exceeded the design requirements.

Keywords: cold shield, G-M cryocooler，infrared radiometer demarcating, satellite, space environment simulation equipments

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Authors: Jana Teplá

Abstract:

This text focuses on the visual construction of youth in press photographs in socialist Czechoslovakia. It deals with photographs in a magazine for young readers, Mladý svět, published by the Socialist Union of Youth of Czechoslovakia. The aim of this study was to develop a methodological tool for uncovering the values and the ideological messages in the strategies used in the visual construction of reality in the socialist press. Two methods of visual analysis were applied to the photographs, a quantitative content analysis and a social semiotic analysis. The social semiotic analysis focused on images representing youth in their free time. The study shows that the meaning of a socialist press photograph is a result of a struggle for ideological power between formal and informal ideologies. This struggle takes place within the process of production of the photograph and also within the process of interpretation of the photograph.

Keywords: Ideology, press photography, socialist regime, social semiotics, youth.

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Authors: Youngkuen Cho, Seonhong Hwang, Jinyoung Min, Youngho Kim, Dohyung Lim, Hansung Kim

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Many studies have emphasized the importance of resistive exercise to maintain a healthy human body, particular in prevention of weakening of physical strength. Recently, some studies advocated that an application of vibration as a supplementary means in a regular training was effective in encouraging physical strength. Aim of the current study was, therefore, to identify if an application of vibration in a resistive exercise was effective in encouraging physical strength as that in a regular training. A 3-dimensional virtual lower extremity model for a healthy male and virtual leg-press model were generated and synchronized. Dynamic leg-press exercises on a slide machine with/without extra load and on a footboard with vibration as well as on a slide machine with extra load were analyzed. The results of the current indicated that the application of the vibration on the dynamic leg-press exercise might be not greatly effective in encouraging physical strength, compared with the dynamic leg press exercise with extra load. It was, however, thought that the application of the vibration might be helpful to elderly individuals because the reduced maximum muscle strength appeared by the effect of the vibration may avoid a muscular spasm, which can be driven from a high muscle strength sometimes produced during the leg-press exercise with extra load.

Keywords: Resistive exercise, leg-press exercise, muscle strength.

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Authors: Tadashi Watanabe

Abstract:

The LSTF experiment simulating the SGTR accident at the Mihama Unit-2 reactor is analyzed using the RELAP5/MOD3.3 code. In the accident, and thus in the experiment, the ECC water was injected not only into the cold legs but into the upper plenum. Overall transients during the experiment such as pressures and fluid temperatures are simulated well by the code. The cold-leg fluid temperatures are shown to decrease if the upper plenum injection system is connected to the cold leg. It is found that the cold-leg fluid temperatures also decrease if the upper-plenum injection is not used and the cold-leg injection alone is actuated.

Keywords: SGTR, LSTF, RELAP5, ECCS.

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Authors: Myo Min Aung, Yoon Seok Chang, Woo Ram Kim

Abstract:

This paper presents a cold chain monitoring system which focuses on assessment of quality and dynamic pricing information about food in cold chain. Cold chain is composed of many actors and stages; however it can be seen as a single entity since a breakdown in temperature control at any stage can impact the final quality of the product. In a cold chain, the shelf life, quality, and safety of perishable food throughout the supply chain is greatly impacted by environmental factors especially temperature. In this paper, a prototype application is implemented to retrieve timetemperature history, the current quality and the dynamic price setting according to changing quality impacted by temperature fluctuations in real-time.

Keywords: Cold chain, monitoring, quality, temperature, traceability.

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Authors: Mohd Hazwan bin Yusof, Hiroshi Katanoda

Abstract:

In order to clarify the structure of the cold flow discharged from the vortex tube (VT), the pressure of the cold flow was measured, and a simple flow visualization technique using a 0.75mm-diameter needle and an oily paint is made to study the reverse flow at the cold exit. It is clear that a negative pressure and positive pressure region exist at a certain pressure and cold fraction area, and that a reverse flow is observed in the negative pressure region.

Keywords: Flow visualization, Pressure measurement, Reverse flow, Vortex tube.

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Authors: Nasser Ghassembaglou, Armin Rahmatfam, Faramarz Ranjbar

Abstract:

Using cold EGR method with variable venturi and turbocharger has a very significant effect on reduction of NOX and grime simultaneously. EGR cooler is one of the most important parts in the cold EGR circuit. In this paper optimum design of cooler for working in different percentages of EGR and for determining optimum temperature of exhausted gases, growth of efficiency, reduction of weight, dimension, expenditures, sediment and also optimum performance by using gasoil which has significant amounts of brimstone are investigated and optimized.

Keywords: Cold EGR, NOX, Cooler.

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Authors: Mira Trebar

Abstract:

Logistics processes of perishable food in the supply chain include the distribution activities and the real time temperature monitoring to fulfil the cold chain requirements. The paper presents the use of RFID (Radio Frequency Identification) technology as an identification tool of receiving and shipping activities in the cold store. At the same time, the use of RFID data loggers with temperature sensors is presented to observe and store the temperatures for the purpose of analyzing the processes and having the history data available for traceability purposes and efficient recall management.

Keywords: Logistics, warehouse, RFID device, cold chain.

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Authors: Amir Ansari, Ehsan Shahrjerdi, Ehsan Amini

Abstract:

To investigate the behavior of sheet metals during forming tailor welded blanks (TWB) of various thickness made via Co2 Laser welding are under consideration. These blanks are formed used two different forming methods of rubber as well as the conventional punch and die methods. The main research objective is the effects of using a rubber die instead of a solid one the displacement of the weld line and the press force needed for forming. Specimens with thicknesses of 0.5, 0.6, 0.8 and 1mm are subjected to Erichsen two dimensional tests and the resulted force for each case are compared. This is followed by a theoretical and numerical study of press force and weld line displacement. It is concluded that using rubber pad forming (RPF) causes a reduction in weld line displacement and an increase in the press force.

Keywords: Rubber pad forming, Tailor welded blank, Thickness ratio, Weld line displacement.

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Authors: Abir Hmida, Nihel Chekir, Ammar Ben Brahim

Abstract:

In the present paper, we investigate the feasibility of a thermal solar driven cold room in Gabes, southern region of Tunisia. The cold room of 109 m³ is refrigerated using an ammonia absorption machine. It is destined to preserve dates during the hot months of the year. A detailed study of the cold room leads previously to the estimation of the cooling load of the proposed storage room in the operating conditions of the region. The next step consists of the estimation of the required heat in the generator of the absorption machine to ensure the desired cold temperature. A thermodynamic analysis was accomplished and complete description of the system is determined. We propose, here, to provide the needed heat thermally from the sun by using vacuum tube collectors. We found that at least 21m² of solar collectors are necessary to accomplish the work of the solar cold room.

Keywords: Absorption, ammonia, cold room, solar collector, vacuum tube.

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Authors: Zina Ghiloufi, Tahar Khir

Abstract:

A transient three-dimensional computational fluid dynamics (CFD) model is developed to determine the velocity and temperature distribution in different positions cold room during pre-cooling of dates. The turbulence model used is the k-ω Shear Stress Transport (SST) with the standard wall function, the air. The numerical results obtained show that cooling rate is not uniform inside the room; the product at the medium of room has a slower cooling rate. This cooling heterogeneity has a large effect on the energy consumption during cold storage.

Keywords: Numerical simulation, CFD, k-ω (SST), cold room, dates, cooling rate.

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Authors: Inês Vieira

Abstract:

The migration-environment nexus has gained increased interest from the social research field over the last years. While straightly connected to human security issues, this theme has pervaded through the media to the public sphere. Therefore, it is important to observe how did the discussions over environmentally induced migrations develop from the scientific basis to the media attention, passing through some political voices, and in which ways might these messages be interpreted within the broader public discourses. To achieve this purpose, the analysis of the press entries between 2004 and 2010 in three of the main Portuguese newspapers shall be presented, specially reflecting upon the events, protagonists, topics, geographical attributions and terms/expressions used to define those who migrate due to environmental degradation or disasters.

Keywords: Climate refugees, environmental refugees, environmentally induced migrations, Portuguese written press

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Authors: Jung D. Kwon, Seong J. Kim, Sana U. Nasir, Sung K. Ha

Abstract:

An advanced composite flywheel rotor consisting of intra and inter hybrid rims was designed to optimally increase the energy capacity, and was manufactured using filament winding with in-situ curing. The flywheel has recently attracted considerable attention from many investigators since it possesses great potential in many energy storage applications, including electric utilities, hybrid or electric automobiles, and space vehicles. In this investigation, a comprehensive study was conducted with the intent to implement composites in high performance flywheel applications.The inner two intra-hybrid rims (rims 1 and 2) were manufactured as a whole part through continuous filament winding under in-situ curing conditions, and so were the outer two rims (rims 3 and 4). The outer surface of rim 2 and the inner surface of rim 3 were CNC-tapered for press-fitting. Machined rims were finally press-fitted using a hydraulic press with a maximum compressive force of approximately 1000 ton.

Keywords: composite flywheel rotor, inter hybrid, intra hybrid, multi-rim, interference, in-situ cure, press-fit

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Authors: Okewu E. Jonathan

Abstract:

There are several techniques of production in the field of ceramics. These different techniques overtime have been categorised under three methods of production which includes; casting, throwing and hand building. Hand building method of production is further broken down into other techniques and they include coiling, slabbing and pinching. Ceramic artists find the different hand building techniques to be very interesting, practicable and rewarding. This has encouraged ceramic artist in their various studios at different levels to experiment for further hand building techniques that could be unique and unusual. The art of “Clay Palm Press” is a development from studio experiment in a quest for uniqueness in conceptual ceramic practise. Clay palm press is a technique that requires no formal tutelage but at the same time, it is not easily comprehensible when viewed. It is a practice of putting semi-solid clay in the palm and inserting a closed fist pressure so as to take the imprint of the human palm. This clay production from the palm when dried, fired and explored into an art, work reveals an absolute awesomeness of what the palm imprint could result in.

Keywords: Ceramics, clay palm press, conceptual forms, hand building, technique.

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Authors: Abolfazl Rashidi Asl, Siroos Mahfoozi, Mohammad Reza Bihamta

Abstract:

Low temperature (LT) is one of the most abiotic stresses causing loss of yield in wheat (T. aestivum). Four major genes in wheat (Triticum aestivum L.) with the dominant alleles designated Vrn–A1,Vrn–B1,Vrn–D1 and Vrn4, are known to have large effects on the vernalization response, but the effects on cold hardiness are ambiguous. Poor cold tolerance has restricted winter wheat production in regions of high winter stress [9]. It was known that nearly all wheat chromosomes [5] or at least 10 chromosomes of 21 chromosome pairs are important in winter hardiness [15]. The objective of present study was to clarify the role of each chromosome in cold tolerance. With this purpose we used 20 isogenic lines of wheat. In each one of these isogenic lines only a chromosome from ‘Bezostaya’ variety (a winter habit cultivar) was substituted to ‘Capple desprez’ variety. The plant materials were planted in controlled conditions with 20º C and 16 h day length in moderately cold areas of Iran at Karaj Agricultural Research Station in 2006-07 and the acclimation period was completed for about 4 weeks in a cold room with 4º C. The cold hardiness of these isogenic lines was measured by LT50 (the temperature in which 50% of the plants are killed by freezing stress).The experimental design was completely randomized block design (RCBD)with three replicates. The results showed that chromosome 5A had a major effect on freezing tolerance, and then chromosomes 1A and 4A had less effect on this trait. Further studies are essential to understanding the importance of each chromosome in controlling cold hardiness in wheat.

Keywords: Cold hardiness, isogenic lines, LT50 , Triticum.

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Authors: P. R. Prabhu, S. M. Kulkarni, S. S. Sharma

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Deep cold rolling (DCR) is a cold working process, which easily produces a smooth and work-hardened surface by plastic deformation of surface irregularities. In the present study, the influence of main deep cold rolling process parameters on the surface roughness and the hardness of AISI 4140 steel were studied by using fractional factorial design of experiments. The assessment of the surface integrity aspects on work material was done, in terms of identifying the predominant factor amongst the selected parameters, their order of significance and setting the levels of the factors for minimizing surface roughness and/or maximizing surface hardness. It was found that the ball diameter, rolling force, initial surface roughness and number of tool passes are the most pronounced parameters, which have great effects on the work piece-s surface during the deep cold rolling process. A simple, inexpensive and newly developed DCR tool, with interchangeable collet for using different ball diameters, was used throughout the experimental work presented in this paper.

Keywords: Deep cold rolling, design of experiments, surface hardness, surface roughness

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Authors: A. Dulaimi, H. Al Nageim, F. Ruddock, L. Seton

Abstract:

This study aims at developing a novel cold asphalt concrete binder course mixture by using Ordinary Portland Cement (OPC) as a replacement for conventional mineral filler (0%-100%) with new by-product material (LJMU-A2) used as a supplementary cementitious material. With this purpose, cold asphalt concrete binder course mixtures with cationic emulsions were studied by means of stiffness modulus whereas water sensitivity was assessed by measuring the stiffness modulus ratio before and after sample conditioning. The results indicate that a substantial enhancement in the stiffness modulus and a considerable improvement of water sensitivity resistance is achieved by adding LJMU-A2 to the cold asphalt mixtures as a supplementary cementitious material. Moreover, the addition of LJMU-A2 to those mixtures leads to a stiffness modulus after 2-day curing compared to that obtained with Portland cement, which occurs after 7-day curing.

Keywords: Binder course, cold mix asphalt, cement, stiffness modulus, water sensitivity.

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Authors: Arash Sharghi, Irina Dotu

Abstract:

The developments in the Middle East region have activated the involvement of a numerous diverse state and non-state actors in the regional affairs. The goals, positions, ideologies, different, and even contrast policy behaviors had procured the spreading and continuity of crisis. Non-state actors varying from Islamic organizations to takfiri-terrorist movements on one hand and regional and trans- regional actors, from another side, seek to reach their interests in the power struggle. Here, a research worthy question comes on the agenda: taking into consideration actors’ contradictory interests and constraints what are the regional peace and stability perspectives? Therein, different actors’ aims definition, their actions and behaviors, which affect instability, can be regarded as independent variables; whereas, on the contrary, Middle East peace and stability perspective analysis is a dependent variable. Though, this regional peace and war theory based research admits the significant influence of trans-regional actors, it asserts the roots of violence to derive from region itself. Consequently, hot war and conflict prevention and hot peace assurance in the Middle East region cannot be attained only by demands and approaches of trans-regional actors. Moreover, capacity of trans-regional actors is sufficient only for a cold war or cold peace to be reached in the region. Furthermore, within the framework of current conflict (struggle) between regional actors it seems to be difficult and even impossible to turn the cold war into a cold peace in the region.

Keywords: Cold peace, cold war, hot war, Middle East, non-state actors, regional and Great powers, war theory.

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Authors: Chun-Yao Lee, Siang-Ren Wang

Abstract:

This paper aims to discuss the influence of resistance characteristic on the high conductive concrete considering the changes of voltage and environment. The high conductive concrete with appropriate proportion is produced to the press-electrode method. The curve of resistivity with the changes of voltage and environment is plotted and the changes of resistivity are explored.

Keywords: conductive concrete, resistivity.

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Authors: Z. Salleh, M. N. Berhan, Koay Mei Hyie, D. H. Isaac

Abstract:

Natural fibres have emerged as the potential reinforcement material for composites and thus gain attraction by many researchers. This is mainly due to their applicable benefits as they offer low density, low cost, renewable, biodegradability and environmentally harmless and also comparable mechanical properties with synthetic fibre composites. The properties of hybrid composites highly depends on several factors, including the interaction of fillers with the polymeric matrix, shape and size (aspect ratio), and orientation of fillers [1]. In this study, natural fibre kenaf composites and kenaf/fibreglass hybrid composites were fabricated by a combination of hand lay-up method and cold-press method. The effect of different fibre types (powder, short and long) on the tensile properties of composites is investigated. The kenaf composites with and without the addition of fibreglass were then characterized by tensile testing and scanning electron microscopy. A significant improvement in tensile strength and modulus were indicated by the introduction of long kenaf/woven fibreglass hybrid composite. However, the opposite trends are observed in kenaf powder composite. Fractographic observation shows that fibre/matrix debonding causes the fibres pull out. This phenomenon results in the fibre and matrix fracture.

Keywords: Kenaf, Fibreglass, Hybrid Composite, Tensile Strength, Tensile Modulus.

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Authors: Ana Mouro, Ana Ramalheira

Abstract:

Since 1989, with the Fall of the Berlin Wall, Germany has undergone a profound restructuring political and economic process. When the Euro Crisis broke out, Germany was no longer the “sick man” of Europe. Instead, it had recovered its dominance as the strongest and wealthiest economy within the European Union. With the European Debt Crisis, that has been taking place in the European Union since the end of 2009, Germany´s Chancellor Angela Merkel has gained the power of deciding, so to say, on the fate of the debtor nations, but she neither stands for binding German commitments, nor refuses assistance. A debate on whether Merkel’s hesitation has been deliberated and used as a means of coercion has arisen on international print media, and the Portuguese Press has been no exception. This study, which was conducted by using news reporting, opinion articles, interviews and editorials, published in the Portuguese weekly Expresso and the daily Público, from 2008 to 2015, tries to show how Merkel’s hesitation, depicted in the press by the term “Merkiavelli”, was perceived in Portugal, a country that had to embrace the austerity measures, imposed by the European Central Bank, but defined under Angela Merkel´s leading role.

Keywords: Euro crisis, “Merkiavelli”, cultural studies, Portuguese quality press.

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Authors: Adeosun S. Oluropo, Sekunowo O. Israel, Talabi S. Isaac

Abstract:

This study investigated the combined effect of cold rolling and heat treatment on the mechanical properties of Al-Ti alloy. Samples of the alloy are cast in metal mould to obtain 0.94-2.19wt% mixes of titanium. These samples are grouped into untreated (as-cast) and those that are cold rolled to fifty percent reduction, homogenized at 500⁰C and soaked for one hour. The cold rolled and heat treated samples are normalized (RT_n) and quench-tempered (RT_q-t) at 100⁰C. All these samples are subjected to tensile, micro-hardness and microstructural evaluation. Results show remarkable improvement in the mechanical properties of the cold rolled and heat treated samples compared to the as-cast. In particular, the RT_q-t samples containing titanium in the range of 1.7-2.2% demonstrates improve tensile strength by 24.7%, yield strength, 28%, elastic modulus, 38.3% and micro-hardness, 20.5%. The Al₃Ti phase being the most stable precipitate in the α-Al matrix appears to have been responsible for the significant improvement in the alloy’s mechanical properties. It is concluded that quench and temper heat treatment is an effective method of improving the strength-strain ratio of cold rolled Al-.0.9-2.2%Ti alloy.

Keywords: Aluminum-titanium alloy, heat treatment, mechanical properties, precipitate.

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Authors: Khaled Alenezi, Talal Alhajri, M. M. Tahir, Mohamed Ragaee K. Badr, S. O. Bamaga

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The population growth in the world requires an increase in demand of residential and housing construction. Using lightweight construction materials such as cold formed steel sections and ferrocement could be an alternate solution to foster the construction industry. In this study, a new composite column is introduced. It consists of cold formed steel section and ferrocement jacket. The ferrocement jacket was constructed using self-compacting mortar with two wire steel mesh of 550 MPa yield strength. Experimental push out tests was conducted to investigate the strength capacities and behavior of proposed shear connectors namely, bolt, bar-angle and self-drilling screw shear connectors. It was found that bolt connector showed the best behavior followed by bar-angle. Also, it was concluded that the ferrocement could be used to strength and improve the behavior of cold formed steel column.

Keywords: Cold formed steel, composite column, push out test, shear connector, ferrocement, strengthen method.

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Authors: A. Watanapa, S. Torsakul

Abstract:

This study was aimed to explain the influence of surface roughness of the drawbead on non-symmetry deep drawing cold rolled steel sheet to improve the drawability of cold rolled steel sheet. The variables used in this study included semi-circle drawbead with 3 levels of surface roughness which are 6.127 mm Ra, 0.963 mm Ra and 0.152 mm Ra and cold rolled steel sheet according to 3 grades of the JIS standards which are SPCC, SPCE and SPCD with the thickness of 1.0 mm and the blankholder force which is 50% of the drawing force and the depth of 50 mm. According to the test results, when there was the increase in the surface roughness of drawbead, there would be the increase in deep drawing force, especially the SPCC cold rolled steel sheet. This is similar to the increase in the equivalent strain and the wall thickness distribution when the surface roughness of the drawbead increased. It could be concluded that the surface roughness of drawbead has an influence on deep drawing cold rolled steel sheet, especially the drawing force, the equivalent strain and the wall thickness distribution.

Keywords: Drawbead, Deep Drawing, Drawing Force, Equivalent Strain, Surface roughness

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Authors: Indrijuli Magsari Putri, Dicky R. Munaf

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The purpose of this paper is to guide the effort in improving the economic added value of Indonesian fisheries product through post fishing program, which is cold storage program. Indonesia's fisheries potential has been acknowledged by the world. FAO (2009) stated that Indonesia is one of the tenth highest producers of fishery products in the world. Based on BPS (Statistics Indonesia data), the national fisheries production in 2011 reached 5.714 million tons, which 93.55% came from marine fisheries and 6.45% from open waters. Indonesian territory consist of 2/3 of Indonesian waters, has given enormous benefits for Indonesia, especially fishermen. To improve the economic level of fishermen requires efforts to develop fisheries business unit. On of the efforts is by improving the quality of products which are marketed in the regional and international levels. It is certainly need the support of the existence of various fishery facilities (infrastructure to superstructure), one of which is cold storage. Given the many benefits of cold storage as a means of processing of fishery resources, Indonesia Maritime Security Coordinating Board (IMSCB) as one of the maritime institutions for maritime security and safety, has a program to empower the coastal community through encourages the development of cold storage in the middle and lower fishery business unit. The development of cold storage facilities which able to run its maximum role requires synergistic efforts of various parties.

Keywords: Cold Storage, Fish, Regulation.

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Authors: Brownhilder N. Neneh, A. Van Aardt Smit

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Underpricing is one anomaly in initial public offerings (IPO) literature that has been widely observed across different stock markets with different trends emerging over different time periods. This study seeks to determine how IPOs on the JSE performed on the first day, first week and first month over the period of 1996-2011. Underpricing trends are documented for both hot and cold market periods in terms of four main sectors (cyclical, defensive, growth stock and interest rate sensitive stocks). Using a sample of 360 listed companies on the JSE, the empirical findings established that IPOs on the JSE are significantly underpriced with an average market adjusted first day return of 62.9%. It is also established that hot market IPOs on the JSE are more underpriced than the cold market IPOs. Also observed is the fact that as the offer price per share increases above the median price for any given period, the level of underpricing decreases substantially. While significant differences exist in the level of underpricing of IPOs in the four different sectors in the hot and cold market periods, interest rates sensitive stocks showed a different trend from the other sectors and thus require further investigation to uncover this pattern.

Keywords: Underpricing, hot and cold markets, South Africa, JSE.

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