In this paper, we assess the Efficient Market Hypothesis (EMH) in relation to dry bulk shipping in the short run. The aim is to explain why freight rates in the different ship segments are highly correlated. By building a system dynamics model, which is well-suited to modelling complex and...

Despite claims by shipping lines that most of their containerships operate on fixed-day weekly schedules, a large survey recently revealed that over 40% of the vessels deployed on worldwide liner services arrive one or more days behind schedule. Broadly speaking, the survey found relatively low...

<title>Abstract</title> As the Liquefied Natural Gas (LNG) market is supply-driven and subject to long-term contracts, both liquefaction companies and shipowners need to make strategic decisions on fleet chartering requirements. These planning decisions become ever more difficult in light of the...

This article aims to improve understanding of the gas shipping markets which, contrary to the main merchant markets – namely the dry, the tanker and the container markets – have not been subject to the same scrutiny. We examine the fundamentals and segment these versatile markets in which...

We investigate for the first time the spot rate dynamics of Very Large Gas Carriers (VLGCs) by means of multifractal detrended fluctuation analysis (MF-DFA) and rescaled range (R/S) analysis. Both non-parametric methods allow for a rigorous statistical analysis of the freight process by...

<title>Abstract</title> In a stochastic supply link between a supplier and a receiver the receiver will call upon the supplier who can replenish his inventory at the lowest total cost. This total cost typically contains the order costs, transportation costs and inventory costs. A crucial component of the total...

<title>A<sc>bstract</sc> </title> During the last decade, container traffic was the driving force behind the growth in cargo handling in the port of Antwerp, Belgium. Between 1995 and 2005 container traffic almost tripled, enabling Antwerp to increase its market share in the Hamburg-Le Havre range. Moreover, various...

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 decision process of individual shipowners and traditional shipping market conditions. The aim is to arrive at a...

<title>Abstract</title> This paper analyses the effectiveness of policy measures aimed at triggering a modal shift in the freight transport market. The analysis is based on the inventory‐theoretic framework that studies modal choice from a business logistics viewpoint. The crux of the inventory‐theoretic...