We explore, for the first time in the literature, how the revenues of ship management companies respond to macroeconomic exogenous shocks. Using data for ship-management companies in Cyprus, we find evidence that a demand shock has the largest impact on revenues, exhibiting an almost one-for-one...

Due to its strategic immensity and opportunities for covert action, the maritime domain has become the most prominent arena of modern-day great power rivalry. In the shadow of this confrontation and the Russian war of aggression against Ukraine, the Baltic Sea is now the focus of geopolitical...

Purpose: Although additive manufacturing (AM; 3D printing/3DP) is presently in its infancy, once it becomes economically viable for mass production, it would revolutionize the operation and supply chain network of traditional businesses and manufacturing industries. To this end, approaches for...

During the pandemic, there have been unprecedented increases in the cost of shipping goods accompanied by delays and backlogs at the ports. At the same time, import price inflation has reached levels unseen since the early 1980s. This has led many to speculate that the two trends are linked. In...

I show that the maritime shipping industry – handling above 80% of global trade flows – has evolved over the past decades to systematically evade “corporate responsibilities,” i.e., compliance with regulatory standards and potential tort liabilities. Shipping firms increasingly...

This paper aims to model the probability of a borrower violating an asset value covenant in a shipping bank loan agreement, where the main collateral (the vessel) exhibits very high price volatility. We estimate a logistic regression model on the largest dataset of shipping bank loans examined...

This article analyzes the PRC’s lawfare against the United States and its allies in the maritime, aviation, and information technology domains. In the maritime and aviation domains, the PRC is using lawfare to take control of the South China Sea without firing a shot. In the information...

We evaluate the expected impact of the anticipated International Maritime Organization’s regulatory regime that will cap CO2 emissions from global maritime shipping. Focusing on U.S. imports---for which we compile granular vessel, route, emission, and trade data---we structurally estimate a...

From 1860 to 1913 the six colonies that became states of Australia strove to attract migrants from the UK with a variety of assisted passages. The colonies/states shared a common culture and sought migrants from a common source, the UK, but set policy independently of each other. This experience...

Studies of the determinants of emigration from Europe from 1850 to 1913 include the gains to migrants but often neglect the costs. One component of those costs is earnings forgone on the voyage. In this paper I present new data on the voyage times for emigrants from the UK traveling to the...

This report has eight chapters. Following the introduction (Pacific Peoples and the Sea), the next six chapters each focus on a separate significant component of Pacific maritime transport, analyzing the major influences and challenges, and, where relevant, key areas for future attention. The...

International shipping accounts for nearly three percent of global greenhouse gas emissions. If no further action is taken, these emissions are set to grow significantly. Apart from reducing emissions, there is a strong call for shipping's decarbonization to be equitable. In this light, the...

This open access book explores the history of risk management in medieval and early modern European maritime business, focusing particularly on 'General Average' - a mechanism by which extraordinary expenses regarding ship or cargo, incurred during a voyage to save the venture, are shared...

COVID-19 pandemic clearly demonstrates that seafarers are essential for sustaining world shipping services and global supply chain. Understanding the characteristics of supply and demand in seafarer market will be a solution for the bottleneck issues of seafarer change and shipping services....

We evaluate the expected impact of the International Maritime Organization’s 2023 regulatory regime (IMO2023) that caps CO2 emissions from global maritime shipping. Focusing on U.S. imports—for which we compile granular vessel, route, emission, and trade data— we structurally estimate a...

Environmental, regulatory, and economic exogenous disruptions force companies within the maritime shipping industry to become more sustainable. Financing for implementing the necessary changes is particularly challenging for these companies, considering their narrow margins. With the changes in...

When Professor Soares asked me to highlight the state-of-the-art in maritime economics and logistics research, as a keynote speech for MARTECH 2022, I immediately said ‘yes’. On second thought, however, I considered something like this would be a bit too ambitious if not pretentious. Thus,...

This paper analyzes the impact of container shipping alliances on the market stability of prices and volumes in the event of an unexpected shock. Given two complementary or substitutable ports in which oligopolistic liners are operating, an alliance between complementary liners, referred to as...

Purpose: The article aims to highlight the concept of risk management in maritime transportation accidents in the specialized literature on the Web of Sciences database through existing materials. Design/methodology/ approach: The keyword study identifies several keywords as they have been set...

Das deutsche System von Energieerzeugung und -verbrauch ist im Umbruch, was mit erheblichen Konsequenzen und Unsicherheiten für die mittelständische Wirtschaft einhergeht. Als eine Zukunftsperspektive wird der Aufbau einer Wasserstoffwirtschaft angesehen, was jedoch mit erheblichen technischen...

Ports and shipping have been in the spotlight in 2021 with surging demand, skyrocketing freight rates and week-long queues. This development stands against the background of the current global COVID-19 pandemic. Amid these disruptive waves, the North Range ports (Le Havre to Hamburg) face...

We explore theoretically and empirically the within-route price discrimination in liner shipping and condition it on the market density. Using transaction-level data from over 200 Chilean import port-to-port routes, we confirm our theoretical predictions and demonstrate their robustness and...

Exchange-traded funds (ETFs) are typically viewed as passive index trackers. In contrast, we show that corporate bond ETFs actively manage their portfolios, trading off index tracking against liquidity transformation. In our model, ETFs optimally choose creation and redemption baskets that...

Shipping is a derived demand of international trade in economic terms. Therefore, while there are many emphases on developing Sri Lanka as a shipping hub it is imperative to examine the real situation that prevails in the country with respect to the international trading. It is also the...

The decision making process in strategic shipping financial management consists of three main pillars: investment, financing and operation. Each pillar defines its own sub-universe and constitutes its own market with its own rules. The investment pillar refers to the market for newly built and...

Responsible shipping attracts growing attention in shipping industry, but a systematic analysis of its concept is scanty. Different stakeholders ranging from shippers and carriers to government and non-government associations have expressed worries and expectations about responsible consumption...

Exchange-traded funds (ETFs) are typically viewed as passive index trackers. In contrast, we show that corporate bond ETFs actively manage their portfolios, trading off index tracking against liquidity transformation. In our model, ETFs optimally choose creation and redemption baskets that...

Purpose: The main goal of this study is to exact an optimal forecasting method by answering the research question: which is the best model for capturing short-term seasonal components of passenger traffic in Greek coastal shipping? Design/methodology/approach: There are not a lot of scientific...