The article studies the valuation and optimal management of Time Charters with Purchase Options (T/C–POPs), which is a specific type of asset lease with embedded options that is common in shipping markets. T/C–POPs are economically significant and sometimes account for more than half of the...

Like options on stocks, options on commodities provide firms with protection against adverse price movements. Many firms procure commodity at an offshore location and transport it via ocean freight. Increased globalization and increased demand for ocean-based transportation has resulted in ocean...

The freight market -- The state of the market -- Shipowning conditions and market activities -- Information channels -- Marketing -- Sales contract, carriage and bill of lading -- Charter forms -- Freight calculations -- Chartering routines -- General legal points of view -- Common clauses and...