Determinants of Ship Management Revenues: The Case of Cyprus

We explore, for the first time in literature, how revenues of ship management companies respond to macroeconomic exogenous shocks. Using data ship-management Cyprus, we find evidence that a demand shock has largest impact on revenues, exhibiting an almost one-for-one relationship. If is permanent, observe ceteris paribus permanent effect revenues. Similarly, this occurs irrespective final relevant freight rate, proxied via Baltic dry and tanker (dirty clean) indices. The BDI BDTI indices have smaller standing at approximately 0.05% every 1% shock, while clean index does not effect, most likely due their fleet composition. In accordance with price Brent oil increases Our results bear importance only per se, but also countries are hubs.