In this paper, we use a logit model to predict the probability of default for Korean shipping companies. We explore … numerous financial ratios to find predictors of a shipping firm’s failure and construct four default prediction models. The … indicates that utilizing information about unique financial characteristics of the shipping industry may enhance the performance …

reverse conditions between shipping, financial, commodity and credit markets. We find that shocks in the shipping market … market downturns. In the post crisis period the level of dependence drops systematically and the shipping market becomes more … variations in volatility, provoke accelerated decreases and function as a barometer of shipping market fluctuations …