Melas, Konstantinos D.; Michail, Nektarios - In: Journal of shipping and trade 9 (2024) 1, pp. 1-14
commodities that bulk carriers transport. Using a principal component analysis to reduce the dimensionality of the commodities … dataset and a panel methodology, we find that a change in the commodity price principal component would result in a 0 … principal component results in a 1.1% change in the returns. This is mainly due to the fact that minerals account for larger …