The purpose of this research is to study the trough of the global economics crisis in 2007 by studying business cycle of dry bulk shipping market using an integrative model over the period from January 1999 to October 2008 with developing an integrative model. This market is comprised of three...

Hitherto, scholarly analyses of secondhand ship prices in the international dry bulk market have focused on Capesize. This article adopts a nonlinear model based on the well-known Gaussian distribution theory, with a view to examine Panamax activity from January 1996 to December 2007. According...