Vessel and voyage determinants of tanker freight rates and contract times

Transport Policy

Volumn 18, Issue 5, 2011, Pages 665-675

  Alizadeh, Amir H ^a   Talley, Wayne K ^b  

^a CITY UNIVERSITY   (United Kingdom)

^b OLD DOMINION UNIVERSITY   (United States)

Author keywords

Freight rate; Laycan; Shipping routes; Tanker

Indexed keywords

COMPUTER SIMULATION; ESTIMATION METHOD; MACROECONOMICS; NUMERICAL MODEL; PLANNING METHOD; SHIPPING; TANKER SHIP; TRANSPORTATION PLANNING;

EID: 79957806311     PISSN: 0967070X     EISSN: None     Source Type: Journal    
DOI: 10.1016/j.tranpol.2011.01.001     Document Type: Article

References (30)

1. Adland R., Cullinane K. A time-varying risk premium in the term structure of bulk shipping freight rates. Journal of Transport Economics and Policy 2005, 39:191-208.
2. Adland R., Cullinane K. The non-linear dynamics of spot freight rates in tanker markets. Transportation Research Part E 2006, 42(3):211-224.
3. Batchelor R., Alizadeh A.H., Visvikis I. Forecasting spot and forward prices in the international freight market. International Journal of Forecasting 2007, 23(1):101-114.
4. Beenstock M., Vergottis A.R. An econometric model of the world tanker market. Journal of Transport Economics and Policy 1989, 23(2):263-280.
5. Beenstock M., Vergottis A. Econometric Modelling of World Shipping 1993, Chapmann & Hall, London.
6. Bera A.K., Jarque C.M. Efficient tests for normality, heteroskedasticity, and serial independence of regression residuals. Economic Letters 1980, 6:255-259.
7. Brown G.G., Graves G.W., Ronen D. Scheduling ocean transportation of crude oil. Management Science 1987, 33(3):335-346.
8. Davidson R., Mackinnon J. Estimation and Inference in Econometrics 1993, Oxford University Press, Oxford.
9. Dikos G., Markos H.S., Papadatos M.P., Papakonstantinou V. Niver lines: a system-dynamics approach to tanker freight modeling. Interfaces 2006, 36(4):326-341.
10. Glen D.R., Martin B.T. Conditional modelling of tanker market risk using route specific freight rates. Maritime Policy and Management 1998, 25(2):117-128.
11. Hausman J.A. Specification tests in econometrics. Econometrica 1978, 46(6):p1251-p1271.
12. Hawdon D. Tanker freight rates in the short and long run. Applied Economics 1978, 10:203-217.
13. Jarque C.M., Bera A.K. Efficient test for normality, homoscedasticity and serial dependence of regression residuals. Economics Letters 1980, 6:255-259.
14. Kavussanos M.G. Time varying risks among segments of the tanker freight markets. Maritime Economics and Logistics 2003, 5(3):227-250.
15. Kavussanos M.G., Alizadeh A. The expectations hypothesis of the term structure and risk premia in dry bulk shipping freight markets; an EGARCH-M approach. Journal of Transport Economics and Policy 2002, 36(2):267-304.
16. Koopmans T.C. Tanker Freight Rates and Tankship Building 1939, Haarlem, Holland.
17. Laulajainen R. Operative strategy in tanker (dirty) shipping. Maritime Policy and Management 2008, 35(3):313-339.
18. Lyridis D.V., Zacharioudakis P., Mitrou P., Mylonas A. Forecasting tanker market using artificial neural networks. Maritime Economics and Logistics 2004, 6(2):93-108. June.
19. Mokia Z., Dinwoodie J. Spatial aspects of tanker lay-times. Journal of Transport Geography 2002, 10:39-49.
20. Newey W.K., West K.D. A simple positive definite heteroskedasticity and autocorrelation consistent covariance matrix. Econometrica 1987, 55:703-708.
21. Randers J., Göluke U. Forecasting turning points in shipping freight rates: lessons from 30 years of practical effort. System Dynamics Review 2007, 23(2/3):253-284.
22. Stopford M. Maritime Economics 2009, Routledge, London.
23. Strandenes, S.P., 1984. Price Determination in the Time-Charter and Second-Hand Markets, Working paper no. 06, Centre for Applied Research, Norwegian School of Economics and Business Administration.
24. Strandenes S.P. Is there potential for a two-tier tanker market?. Maritime Policy and Management 1999, 26(3):249-264.
25. Tamvakis M.N., Thanopoulou H.A. Does quality pay? The case of the dry bulk market. Transportation Research Part E 2000, 36(4):297-307.
26. Tamvakis M.N. An investigation into the existence of a two-tier spot freight market for crude oil tankers. Maritime Management and Policy 1995, 22(1):81-90.
27. Tinbergen, J., 1934. Scheepsruimte en vrachten, De Nederlandsche Conjunctuur March, pp. 23-35.
28. Veenstra A.W., Franses P.H. A co-integration approach to forecasting freight rates in the dry bulk shipping sector. Transportation Research Part A 1997, 31A(6):447-459.
29. White H. A heteroscedasticity-consistent covariance matrix estimator and a direct test for heteroscedasticity. Econometrica 1980, 48:55-68.
30. Zannetos Z.S. The Theory of Oil Tankship Rates 1966, MIT Press, Massachusetts.