We present, for the first time in the literature, empirical estimates of the supply and demand curves for the ocean-going dry bulk sector, using a three-stage least squares methodology. Furthermore, we augment these functions with sentiment, which appears to have a positive and significant...

We estimate intentional and unintentional herding in the dry-bulk, ocean-going segment that spans from August 1998 to January 2020 and measure how this can impact vessel orders. As the results suggest, while intentional herding has a large effect on the orders of the newbuilding vessels, the...

We employ the vessels that comprise the dry bulk segment of the maritime industry and examine how market sentiment affects the herding behavior of shipping investors in a real asset market. Our results show that the behavioral aspect of investing, measured through intentional and unintentional...

We explore the relationship between the returns of 64 dry bulk shipping company stocks’ prices and the main 15 commodities that bulk carriers transport. Using a principal component analysis to reduce the dimensionality of the commodities dataset and a panel estimator, we find that a change in...