Market Modelling Until Beenstock And Vergottis
2.1. Early Econometric Modelling of Bulk Freight Markets1 An excellent survey of the major contributors to the econometric modelling of shipping markets is contained in Chapter 2 of Beenstock and Vergottis. Their review highlights the fact that in terms of modelling the freight rate and shipping fleet, little has changed since the seminal studies of Tinbergen 1931, 1934 and Koopmans 1939 . Tinbergen's 1934 study put forward a model of the dynamics of the freight rate market of the following...
References Qxc
Beenstock, M. 1985 . A theory of ship prices. Maritime Policy and Management, 12, 215-225. Beenstock, M., amp Vergottis, A. 1989a . An econometric model of the world shipping market for dry cargo, freight and shipping. Applied Economics, 21, 339-356. Beenstock, M., amp Vergottis, A. 1989b . An econometric model of the world tanker market. Journal of Transport Economics and Policy, 23, 263-280. Beenstock, M., amp Vergottis, A. 1992 . The interdependence between the dry cargo and tanker markets....
Conclusion
While the richness and diversity of research in shipping economics precludes a totally comprehensive representation of the opportunities it offers, most of the main areas of interest are covered by contributions to this volume. It is clear that market analysis will continue to form the cornerstone of the shipping economics research agenda and that this is especially so for the bulk markets and the secondary markets that are related to it. With the further emergence of liner shipping as the most...
Literature Review
The first researcher to analyse the cyclicality of the shipbuilding market was Tinbergen 1931 . Tinbergen supported that the condition of the shipbuilding market is very much dependent on the amount of freight offered for shipping. The freight rate is then in its turn dependent on the shipping tonnage present in the market. This leads to an endogenous shipbuilding market cycle, which is caused by the time lag between the demand for shipping capacity and the actual availability of this capacity....
Grammenos C And Arkoulis A 2002 . Macroeconomic Factors And International
Akatsuka, K., amp Leggate, H. K. 2001 . Perceptions of foreign exchange rate risk in the shipping industry. Maritime Policy and Management, 28 3 , 235-249. Beenstock, M., amp Vergottis, A. 1993 . Econometric modelling of world shipping. London Chapman amp Hall. Chen, Y.-S., amp Wang, S.-T. 2004 . The empirical evidence of the leverage effect on volatility in international bulk shipping market. Maritime Policy and Management, 31 2 , 109-124. Cheng, P. C. 1979 . Financial management in the...