Despite the illiquid and heterogeneous nature of the second-hand market for bulk ships and the resulting difficulty of creating reliable time series of ship prices for generic ships, the literature on ship price dynamics relies heavily on time series models. In this paper we present, for the...

The purpose of this paper is to investigate the hypothesis that the freight market boom in the drybulk freight market between 2003 and 2005 caused asset values in the second-hand market to deviate from underlying fundamentals. We test the instantaneous equilibrium relationship between the...

As a consequence of the delivery of large container ships and of the drop in demand since 2008, companies are struggling with low freight rates. In addition, newly delivered container ships have been deployed on the main east–west trades, whereas medium-sized vessels have been pushed to...

This paper focuses on the monthly relationship between the bunker adjustment factor (BAF) and bunker price and between the freight rate and charter rate on the Europe/Far East container trade. It investigates whether a causality relationship can be found between these variables in order to know...

This paper analyses some of the implications of the emergence of dedicated container terminals (DCT) in the past 10 years. It presents a general overview of DCTs and stresses, through the use of a generalised port cost function, that one of the main factors that could explain this development is...