In the current paper, we examine the existence of possible threshold relationships in the commodity price – freight rate nexus, under or over which the relationship between the two changes. Using the first lag of the commodity price change as the threshold variable, we find that, in the case...

We employ a cointegration setup to explore route-specific off-equilibrium deviations related to Covid-19 that have affected clean (petroleum products) and dirty (crude oil) tanker freight rates, over and above the expected macroeconomic reactions. We find that the additional deviation caused by...

We explore, for the first time in the literature, how the revenues of ship management companies respond to macroeconomic exogenous shocks. Using data for ship-management companies in Cyprus, we find evidence that a demand shock has the largest impact on revenues, exhibiting an almost one-for-one...

We examine the impact of port congestion on containership freight rates. Our results show that port congestion has a positive and significant effect on containership freight rates. However, a 1% increase in port congestion in North America or Europe has an effect of approximately 0.5% on...

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...