The impact of freight rates on ship values: An investigation of major dry bulk carriers

• Autorzy: Açik Abdullah

Identyfikatory

DOI

10.17402/464

• Języki publikacji: EN

Abstrakty

EN

Many factors affect ship values, but the most important is freight rates. This effect is more dynamic, especially in the dry bulk market, which has characteristics close to a perfectly competitive market. The literature does not provide a complete answer about whether the effects of freight on ship values differ by ship type and age in the market; therefore, this study examined the effect of changes in the freight rates of the main ship types used in the dry bulk market on their values in different age groups. The ship types included in the study are Capesize, Panamax, and Handymax vessels, while the age groups are newbuilds, 5-year-old, and 10-year-old ships. Individual regression models were established and analyses were applied for each category. According to the obtained results, smaller vessels were more affected by changes in freight rates, and the effect of changes in freight rate increased with the age of the ship. Also, the price volatility of smaller ships was lower, while it was higher for older ships. It is hoped that these results may provide comparative results by ship type and guide industry stakeholders in reducing risks.

Słowa kluczowe

EN

freight rates; secondhand value; newbuilding value; economic life; Capesize; Panamax; Handymax

• Wydawca: Wydawnictwo Naukowe Akademii Morskiej w Szczecinie
• Czasopismo: Zeszyty Naukowe Akademii Morskiej w Szczecinie
• Rocznik: 2021
• Tom: nr 66 (138)
• Strony: 9--20
• Opis fizyczny: Bibliogr. 46 poz., rys., tab.

Twórcy

autor

Açik Abdullah

• Dokuz Eylül University, Tınaztepe Campus, Maritime Faculty Adatepe Neighborhood, Doğuş St., No:207/O, Zip Code:35390, Buca, İzmir, Turkey

• https://orcid.org/0000-0003-4542-9831

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Uwagi

Opracowanie rekordu ze środków MNiSW, umowa Nr 461252 w ramach programu "Społeczna odpowiedzialność nauki" - moduł: Popularyzacja nauki i promocja sportu (2021).