To improve the operational efficiency, blockchain technology has been gradually applied
into the container shipping industry. As an easier, faster, more efficient platform, blockchain …

The purpose of this paper is to investigate the dynamics of the freight rate in the oil
transportation markets using a general non-parametric Markov diffusion model. The …

We propose a model for freight rate formation in individual contracts that incorporates
charterer and owner heterogeneity and owner–charterer match effects. We estimate fixed …

The cargo payload of a merchant vessel is a crucial variable in calculating revenue for a
particular voyage and estimating global trade flows for key commodities. However, due to …

We develop a container industry-specific real options investment model in oligopolistic
competition taking into account endogenous price function, fuel-efficient investment …

Economic theory suggests that the use of more expensive low-sulphur fuel within an
Emission Control Area (ECA) should result in lower vessel speeds. The objective of this …

This paper develops an integrated alliance formation and investment simulation model
within container shipping. In light of low profitability and frequent alliance changes, the …

The objective of this paper is to determine the drivers behind the utilization of a vessel's
cargo-carrying capacity on individual voyages. Based on maritime economic theory we …

In this paper, we investigate the contracting behaviour of participants in the spot freight
market for tankers by analysing the positioning of vessels at the time of fixture. For that …

In this paper, we consider the benefits of applying system dynamics in maritime economics.
We build an endogenous shipowners' model for the dry bulk sector, incorporating both the …