Abstract
Operational efficiency is significant for the comprehensive competitiveness of a port. In this study, we use a principal component analysis-data envelopment analysis (PCA-DEA) integrated model to evaluate the operational efficiency of iron ore logistics at the ports of Bohai Bay, China. The key indicators and systematic framework are established for logistics efficiency research. We consider the PCA-DEA integrated model as a practical tool for evaluating and analyzing the relative efficiency of the iron ore logistics of each port in that area. The proposed method consists of a two-stage research and analysis that begins with PCA. In the first stage, we use PCA to obtain 6 synthetic indicators, including 4 input indicators and 2 output indicators, from 15 original indicators. In the second stage, the standard DEA approach is used with the specific synthetic indicators. The evaluation results of the selected ports from the integrated PCA-DEA model are compared and discussed. The comparison of the evaluation results indicates that the PCA-DEA model provides a practical and powerful tool for the investigation of the port logistics problem. With this integrated model, a comparison analysis and further research into the iron ore logistics efficiency of different ports in the area are presented. Finally, discussions and suggestions are provided.
Highlights
China’s rapid urbanization process has empowered its infrastructure construction and triggered the need for strategic materials, such as iron ore and steel
Many factors influence the operational efficiency of the iron ore logistics of ports
If only the data envelopment analysis (DEA) method is adopted in the iron ore logistics efficiency evaluation of the ports, the design of the evaluation indicators will significantly affect the evaluation results
Summary
China’s rapid urbanization process has empowered its infrastructure construction and triggered the need for strategic materials, such as iron ore and steel. The exported quantity and port throughput of iron ores in China have constantly increased. Iron ore logistics in coastal ports has become an important part of port development. The ports of Bohai Bay serve as the pivotal base for the transport and handling of iron ore in China. As the contradiction of demand and supply of iron ore and the cost awareness of enterprises on logistics intensify, iron ore has become an increasingly important commodity at the ports of Bohai Bay, China. The competition in iron ore transport and logistics services among the ports of Bohai Bay is escalating. The evaluation of iron ore logistics in each port and the increase in logistics efficiency are the major pathways to improve the iron ore logistics service and to enhance the competitiveness of the ports
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