Hongjun Yu

Cardiff 2020 - Hongjun YU


Biography:

I am currently completing MSc Maritime Policy and Shipping Management at Cardiff University, having graduated with Bachelor degree of Maritime Law in Shanghai Maritime University. I have a keen interest in maritime economics, international seaborne trade and maritime law. In addition to being a student,I had an internship position at Shanghai Institute of Marine Insurance last year and assisted in holding 2019 IUMI Asia Forum.

Introduction to research:

Hongjun is currently doing research on emerging Northern Sea Route and relevant LNG trade. The project focuses on the implication of Northern Sea Route to the transport cost and supply and demand side of LNG trade from both micro and macro perspective within the scope of Law of the sea. The research is conducted by case study via cash flow model and supply and demand theory. In addition, extra environment cost is included in transport cost parameter as green shipping practice is applied by many shipping participants currently.

What is your interest in or the practical applications of this research?

Liquefied natural gas (LNG) poses important role as a seaborne commodity. Asian market accounts for 50% world total LNG import in 2019. The diversification of the energy source suppliers is crucial without doubt from both risk management and energy security perspective. With the influence of global warming and ice melting, the fertile gas resource in Arctic area, especially developed by Russia, such as Yamal LNG project and Arctic LNG project 2 in Yamal peninsula, which is about 30% of world total natural gas reserves, along the emerging corridor between Asia and Europe--- Northern Sea Route will provide an unprecedented opportunity. Therefore, it is interesting to explore that to what extent the Northern Sea Route will impact LNG trade.

This study will assist decision-makers to know Northern Sea Route and the dynamics of global LNG trade market better in practice, which is helpful for them to deploy strategies on choosing the shipping route either for applying risk management  or enhancing energy security.

Why did you choose maritime as your area of study and research?

With the intensification of economic globalization and commercial competition, international shipping is now playing a more and more crucial role in saving the cost and enhancing the efficiency of world cargo delivery. As a result, both countries and shipping enterprises are in desperate need of high-level management talents capable of conducting effective shipping operation with both economics and law knowledge to help them stand out in the fierce market competition with more funds and less risks. In this case, as an aspirant student who wishes to seize this timely opportunity to make a difference in my future engagement in shipping industry, I choose maritime as my area of study and research.