We discover that in each shipping segment the price of scrap, earnings, and the fleet size are jointly determined. Deploying a Vector Error Correction model, we find that international steel-scrap prices explain ship scrap prices, but the price of nickel, crude oil, and seaborne trade have an...

This paper explores the business transactions between a company and its own shareholders, or their affiliates, also known as related party transactions, by compiling a unique panel data set of US public maritime shipping companies for 2011 to 2018, a period of ample liquidity due to extensive...