The modelling of dry bulk and tanker markets: a survey

D. R. Glen

Maritime Policy & Management, 2006, vol. 33, issue 5, 431-445

Abstract: This paper provides an overview of the development of the quantitative modelling techniques that have been applied to the analysis of dry bulk shipping markets. Of necessity it will be dated by the time it is published. The principal points that emerge from the survey are fourfold: first:-reduced form rather than structural modelling, has become the standard approach in the past 15 years. Second, there is a greater focus on modelling rate variability rather than rate levels, using models that estimate the behaviour of both the conditional mean freight rate and its conditional variance. Third, the introduction of models of financial derivatives and their application to shipping markets has been very marked, as finance models of risk management have been adapted to shipping markets. Fourth, the use of segmented models of different ship types, and higher frequency data is now standard. It is argued that the relative neglect of structural models means that estimating fully specified structural econometric models may be a fruitful research agenda for the future.

Date: 2006
References: Add references at CitEc
Citations: View citations in EconPapers (9)

Downloads: (external link)
http://hdl.handle.net/10.1080/03088830601020562 (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:taf:marpmg:v:33:y:2006:i:5:p:431-445

Ordering information: This journal article can be ordered from
http://www.tandfonline.com/pricing/journal/TMPM20

DOI: 10.1080/03088830601020562

Access Statistics for this article

Maritime Policy & Management is currently edited by Dr Kevin Li and Heather Leggate McLaughlin

More articles in Maritime Policy & Management from Taylor & Francis Journals
Bibliographic data for series maintained by Chris Longhurst ().