Hierarchical Flow Among Four Shipping Markets: An Integrated Approach for Capesize Shipping Markets

Revealed preferences for energy efficiency in the shipping markets

An analysis of entry and exit decisions in shipping markets under uncertainty

Objective: The existing literature on the application of real options in maritime economics is rather limited. Bendall & Stent (2003, 2005, 2007) show how investing in a new ship or maritime technology can incorporate an option value. Another application is elaborated by Bjerksund & Ekern (1995), discussing the value of mean-reverting cash flows through contingent claim analysis, applied to tim...

Modelling Integrated Multi-item Supplier Selection with Shipping Frequencies

There are many benefits for coordination of multiple suppliers when single supplier cannot satisfy buyer demands.  In addition, buyer needs to purchase multiple items in a real supply chain. So, a model that satisfies these requests has many advantages. We extend the existing approaches in the literature that assume all suppliers need to be put on a common replenishment cycle and each supplier ...

Virtual Fuel Flow Estimation in Shipping

This thesis validates a novel approach for virtual fuel flow estimation on commercial vessels, such as container ships, tankers, and bulkers. A model is fitted onto high-frequency GPS and meteorological data, and onto low-frequency crew-generated noon reports. The research design is a quantitative case study and utilizes two months of real-life vessel data from a single containership. Based on ...

Dynamic Risk and Volatility in Tanker Shipping Markets: A Markov-switching application

This paper attempts to investigate the possibility of structural change in tanker freight volatilities pre-and during the financial crisis. The aim is to apply a Markov-switching general autoregressive conditional heteroskedasticity (MS-GARCH) model that identifies and estimates the parameters of high and low volatility states, which are associated with different stages in the business cycle. T...