EconPapers    
Economics at your fingertips  
 

Dry Bulk Shipping and the Evolution of Maritime Transport Costs, 1850-2020

David Jacks and Martin Stuermer

No 15956, CEPR Discussion Papers from C.E.P.R. Discussion Papers

Abstract: We provide evidence on the dynamic effects of fuel price shocks, shipping demand shocks, and shipping supply shocks on real dry bulk freight rates in the long run. We first analyze a new dataset on dry bulk freight rates for the period from 1850 to 2020, finding that they followed a downward but undulating path with a cumulative decline of 79%. Next, we turn to understanding the drivers of booms and busts in the dry bulk shipping industry, finding that shipping demand shocks strongly dominate all others as drivers of real dry bulk freight rates in the long run. Furthermore, while shipping demand shocks have increased in importance over time, shipping supply shocks in particular have become less relevant.

Keywords: Dry bulk; Maritime freight rates; Structural var (search for similar items in EconPapers)
JEL-codes: E30 N70 R40 (search for similar items in EconPapers)
Date: 2021-03
New Economics Papers: this item is included in nep-ene, nep-his, nep-mac and nep-tre
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (9)

Downloads: (external link)
https://cepr.org/publications/DP15956 (application/pdf)
CEPR Discussion Papers are free to download for our researchers, subscribers and members. If you fall into one of these categories but have trouble downloading our papers, please contact us at subscribers@cepr.org

Related works:
Journal Article: Dry bulk shipping and the evolution of maritime transport costs, 1850–2020 (2021) Downloads
Working Paper: Dry Bulk Shipping and the Evolution of Maritime Transport Costs, 1850-2020 (2021) Downloads
Working Paper: Dry Bulk Shipping and the Evolution of Maritime Transport Costs, 1850-2020 (2021) Downloads
Working Paper: Dry Bulk Shipping and the Evolution of Maritime Transport Costs, 1850-2020 (2020) Downloads
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:cpr:ceprdp:15956

Ordering information: This working paper can be ordered from
https://cepr.org/publications/DP15956
orders@cepr.org

Access Statistics for this paper

More papers in CEPR Discussion Papers from C.E.P.R. Discussion Papers Centre for Economic Policy Research, 33 Great Sutton Street, London EC1V 0DX.
Bibliographic data for series maintained by (repec@cepr.org).

 
Page updated 2025-03-31
Handle: RePEc:cpr:ceprdp:15956