| Description |
1 online resource (650 pages) |
| Series |
The Grammenos Library |
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Grammenos library.
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| Contents |
Cover; Title; Copyright; CONTENTS; List of figures; List of tables; List of acronyms; Preface; CHAPTER 1 INTRODUCTION; 1.1 Definitions of dry bulk shipping; 1.1.1 Dry bulk cargoes and vessels; 1.1.2 Dry bulk markets; 1.2 Scope, objectives and data issues; 1.2.1 Scope; 1.2.2 Objectives; 1.2.3 Data-related issues; 1.3 Research findings; CHAPTER 2 A REVIEW OF DRY BULK SHIPPING DEVELOPMENT; 2.1 Economic development; 2.1.1 A retrospective of development in the dry bulk market since 1950; 2.1.2 Learning from the past; 2.2 Technical innovations; 2.2.1 Economic triggers for technical innovations |
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2.2.2 Changes in speed and impact on economic performance2.2.3 Changes in deadweight and impact on economic performance; 2.2.4 Changes in lightweight and impact on economic performance; 2.2.5 Changes in fuel consumption and impact on economic performance; CHAPTER 3 A SURVEY OF ECONOMETRIC MODELLING IN THE DRY BULK SHIPPING INDUSTRY; 3.1 The freight market; 3.1.1 Efficient market hypothesis; 3.1.2 Investigating risk premium; 3.1.3 Pricing the freight market; 3.1.4 Seasonality of spot and timecharter freight rates; 3.1.5 Interrelationships between sub-freight sectors |
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3.1.6 Time-varying volatility of charter rates3.1.7 Conclusions and questions; 3.2 The ship market; 3.2.1 Efficient market hypothesis; 3.2.2 Ship prices model; 3.2.3 Ordering and deliveries; 3.2.4 Conclusions and questions; 3.3 The freight derivatives market; 3.3.1 Unbiasedness hypothesis of the freight forward market; 3.3.2 Investigating the hedging efficiency of the FFA market; 3.3.3 The effect of FFA trading on spot price volatility; 3.3.4 The lead-lag relationship between forward and spot markets in terms of returns and volatilities; 3.3.5 Forecasting spot and FFA prices |
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3.3.6 Conclusions and questionsCHAPTER 4 MODELLING PRICE BEHAVIOUR IN THE FREIGHT MARKET; 4.1 Time-varying volatilities of rates in spot and period markets; 4.1.1 Methodology; 4.1.2 Description of data and statistical properties; 4.1.3 Empirical results of dynamic volatility for three types of vessel; 4.2 Term structure and risk premium; 4.2.1 The term structure relation; 4.2.2 Description of data and statistical properties; 4.2.3 Empirical results; 4.3 Dynamic interrelationship between sub-freight shipping sectors; 4.3.1 Methodology; 4.3.2 Data description and statistical properties |
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4.3.3 Dynamic relationships between Capesize and Panamax submarkets4.3.4 Dynamic relationships between Panamax and Handymax submarkets; 4.4 Dynamic relationships between spot freight and forward markets; 4.4.1 The unbiasedness hypothesis of freight forward prices in the dry bulk market; 4.4.2 The lead-lag relationship between forward prices and spot prices; 4.5 Forecasts; 4.5.1 Forecasting monthly spot rates on each route in each market; 4.5.2 The forecasting performance of FFA prices; 4.6 Conclusions; CHAPTER 5 MODELLING PRICE BEHAVIOUR IN THE NEWBUILDING SHIP MARKET |
| Summary |
This book models price behaviour and forecasts prices in the dry bulk shipping market, a major component of the world shipping industry. Recent uncertainties in the world economy, shipbuilding developments and fleet changes mean the dry bulk shipping market has become extremely volatile, highly speculative and more sensitive to external shocks. In response to these challenging circumstances, this book models price behaviour and forecasts prices in various markets including the freight market, the new build ship market and the second-hand ship market. The authors have carried ou |
| Notes |
5.1 Volatilities of ship prices in the newbuilding ship market |
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Print version record |
| Form |
Electronic book
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| Author |
Meersman, Hilde
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Van de Voorde, Eddy
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Frouws, Koos
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| ISBN |
9781317701620 |
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1317701623 |
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