The Economic Determinants Of Vessel Operating Expenses: A Semi-Parametric Approach

Sebastian Koehn ()
Additional contact information
Sebastian Koehn: [1] Department of Economics, University of Leicester, Leicester, UK [2] HSH Nordbank AG, Hamburg, Germany.

Maritime Economics & Logistics, 2008, vol. 10, issue 3, 275-294

Abstract: The recent increase in operating expenses of merchant vessels (opex) has stimulated interest in explaining their determinants. However, the available literature cannot explain this development nor does it provide information on a level of necessary detail. This paper considers a quantitative model of opex that is particularly successful in explaining the variation in opex across vessels of different type, size, age and specification. This paper employs a generalised additive model framework to analyse the determinants of opex. The results confirm that differences in opex are due to the behaviour of a vessel's operator and to regulatory requirements. Furthermore, it shows that there are significant differences in opex due to earnings and employment status of a vessel. Maritime Economics & Logistics (2008) 10, 275–294. doi:10.1057/mel.2008.5

Date: 2008
References: Add references at CitEc
Citations:

Downloads: (external link)
http://www.palgrave-journals.com/mel/journal/v10/n3/pdf/mel20085a.pdf Link to full text PDF (application/pdf)
http://www.palgrave-journals.com/mel/journal/v10/n3/full/mel20085a.html Link to full text HTML (text/html)
Access to full text is restricted to subscribers.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:pal:marecl:v:10:y:2008:i:3:p:275-294

Ordering information: This journal article can be ordered from
http://www.springer. ... nt/journal/41278/PS2

Access Statistics for this article

Maritime Economics & Logistics is currently edited by Hercules E. Haralambides

More articles in Maritime Economics & Logistics from Palgrave Macmillan, International Association of Maritime Economists (IAME) Contact information at EDIRC.
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().