This paper explores the nature of fluctuations in world bulk shipping by quantifying the
impact of time to build and demand uncertainty on investment and prices. We examine the …

We study the link between investment boom and bust cycles and returns on capital in the dry
bulk shipping industry. We show that high current ship earnings are associated with high …

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 …

This article investigates the role of demand uncertainty in explaining cyclical investment
fluctuations in the container shipping industry. I develop and estimate a dynamic oligopoly …

This paper studies the relationship between the time-varying volatility of dry bulk freight rates
and the change of the supply of fleet trading in dry bulk markets. An abundance of research …

One could hardly find a shipping paper that does not start by stressing that shipping is a very
volatile, unpredictable and risky market; that, at the same time, shipping is the bloodline of …

This article quantifies the relationship between the world macroeconomic environment and
the demand for seaborne transport, using annual data on the quantity of crude oil, petroleum …

In this paper we introduce, for the first time, a methodology from the most recent literature of
finance to reveal the duration of shipping cycles and then show the benefit of the use of this …

This article presents an econometric analysis for the fluctuation of the container freight rate
due to the interactions between the demand for container transportation services and the …

We argue that it is possible to explain much of the history of the world's shipping markets
since 1950 as the interaction of two balancing feedback loops: a capacity adjustment loop …