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Maritime Policy & Management
The flagship journal of international shipping and port research
Volume 33, 2006 - Issue 2: IAME Conference 2005, Guest Editor: Photis M. Panayides
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Original Articles

Using system dynamics in maritime economics: an endogenous decision model for shipowners in the dry bulk sector

Steve Engelen Department of Transport and Regional Economics, University of Antwerp, Faculty of Applied Economics, Antwerp, BelgiumCorrespondence[email protected]
,
Hilda Meersman Department of Transport and Regional Economics, University of Antwerp, Faculty of Applied Economics, Antwerp, Belgium
&
Eddy Van De Voorde Department of Transport and Regional Economics, University of Antwerp, Faculty of Applied Economics, Antwerp, Belgium
Pages 141-158 | Published online: 18 Aug 2006

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Lixian Fan & Jiaqi Xie. (2023) Identify determinants of container ship size investment choice. Maritime Policy & Management 50:2, pages 219-234.
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Xiwen Bai, Haiying Jia & Mingqi Xu. (2022) Port congestion and the economics of LPG seaborne transportation. Maritime Policy & Management 49:7, pages 913-929.
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Jun-Woo Jeon, Okan Duru & Gi-Tae Yeo. (2020) Modelling cyclic container freight index using system dynamics. Maritime Policy & Management 47:3, pages 287-303.
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Ping Wang & John Vogt. (2019) Untangling process complexity in logistics delivery services with unpredictable service sequences: a mixed-method study of chemical tanker port calls. Maritime Policy & Management 46:3, pages 344-366.
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JaneJing Xu & TszLeung Yip. (2012) Ship investment at a standstill? An analysis of shipbuilding activities and policies. Applied Economics Letters 19:3, pages 269-275.
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Alexandros M. Goulielmos & Maria-Elpiniki Psifia. (2011) Forecasting short-term freight rate cycles: do we have a more appropriate method than a normal distribution?. Maritime Policy & Management 38:6, pages 645-672.
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Alexandros M. Goulielmos & Maria-Elpiniki Psifia. (2009) Forecasting weekly freight rates for one-year time charter 65 000 dwt bulk carrier, 1989–2008, using nonlinear methods. Maritime Policy & Management 36:5, pages 411-436.
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Steve Engelen, Wout Dullaert & Bert Vernimmen. (2009) Market efficiency within dry bulk markets in the short run: a multi-agent system dynamics Nash equilibrium. Maritime Policy & Management 36:5, pages 385-396.
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Steve Engelen, Wout Dullaert & Bert Vernimmen. (2007) Multi-Agent Adaptive Systems in Dry Bulk Shipping. Transportation Planning and Technology 30:4, pages 377-389.
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Articles from other publishers (28)

Lixian Fan, Ziyan Li, Jiaqi Xie & Jingbo Yin. (2023) Container ship investment Decisions―Newbuilding vs second-hand vessels. Transport Policy 143, pages 1-9.
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Junwoo Jeon, Emrah Gulay & Okan Duru. (2021) Spectral analysis of the dry bulk shipping market by utilizing the system dynamics approach. Maritime Business Review 8:1, pages 2-17.
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Qiliang Xia & Feier Chen. (2022) Shipping Economics Development: A Review from the Perspective of the Shipping Industry Chain for the Past Four Decades. Journal of Shanghai Jiaotong University (Science) 27:3, pages 424-436.
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Bekir Sahin, Devran Yazir, Ahmet Soylu & Tsz Leung Yip. (2021) Improved fuzzy AHP based game-theoretic model for shipyard selection. Ocean Engineering 233, pages 109060.
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Jun-Woo Jeon, Okan Duru, Ziaul Haque Munim & Naima Saeed. (2021) System Dynamics in the Predictive Analytics of Container Freight Rates. Transportation Science 55:4, pages 946-967.
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Laihao Ma, Xiaoxue Ma, Jingwen Zhang, Qing Yang & Kai Wei. (2021) A Methodology for Dynamic Assessment of Laboratory Safety by SEM-SD. International Journal of Environmental Research and Public Health 18:12, pages 6545.
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Yujiro Wada, Tatsumi Yamamura, Kunihiro Hamada & Shinnosuke Wanaka. (2021) Evaluation of GHG Emission Measures Based on Shipping and Shipbuilding Market Forecasting. Sustainability 13:5, pages 2760.
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Xi Wen Bai, Ming Qi Xu & Haiying Jia. (2020) A Dynamic Feedback System Analysis on the Mechanism of Shipping Freight. A Dynamic Feedback System Analysis on the Mechanism of Shipping Freight.
Atiq W. Siddiqui & Rounaq Basu. (2020) An empirical analysis of relationships between cyclical components of oil price and tanker freight rates. Energy 200, pages 117494.
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Xiaolei Sun, Chang Liu, Jun Wang & Jianping Li. (2020) Assessing the extreme risk spillovers of international commodities on maritime markets: A GARCH-Copula-CoVaR approach. International Review of Financial Analysis 68, pages 101453.
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Balan Sundarakani, Yin Sian Lai, Mark Goh & Robert de Souza. (2019) Studying the sustainability of third party logistics growth using system dynamics. Journal of Modelling in Management 14:4, pages 872-895.
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Zhongzhen Yang, Zhenfeng Jiang, Theo Notteboom & Hercules Haralambides. (2019) The impact of ship scrapping subsidies on fleet renewal decisions in dry bulk shipping. Transportation Research Part E: Logistics and Transportation Review 126, pages 177-189.
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Tuomas Kiiski, Tomi Solakivi, Juuso Töyli & Lauri Ojala. (2016) Long-term dynamics of shipping and icebreaker capacity along the Northern Sea Route. Maritime Economics & Logistics 20:3, pages 375-399.
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Yujiro Wada, Kunihiro Hamada, Noritaka Hirata, Kazutaka Seki & Shinji Yamada. (2017) A system dynamics model for shipbuilding demand forecasting. Journal of Marine Science and Technology 23:2, pages 236-252.
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Nikos C. Papapostolou, Panos K. Pouliasis & Ioannis Kyriakou. (2017) Herd behavior in the drybulk market: an empirical analysis of the decision to invest in new and retire existing fleet capacity. Transportation Research Part E: Logistics and Transportation Review 104, pages 36-51.
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Xiaoqiao Geng, Yuanqiao Wen, Chunhui Zhou & Changshi Xiao. (2017) Establishment of the Sustainable Ecosystem for the Regional Shipping Industry Based on System Dynamics. Sustainability 9:5, pages 742.
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Xiaolei Sun, Ling Tang, Yuying Yang, Dengsheng Wu & Jianping Li. (2014) Identifying the dynamic relationship between tanker freight rates and oil prices: In the perspective of multiscale relevance. Economic Modelling 42, pages 287-295.
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Paul Stott. (2013) A retrospective review of the average period of ship ownership with implications for the potential payback period for retrofitted equipment. Proceedings of the Institution of Mechanical Engineers, Part M: Journal of Engineering for the Maritime Environment 228:3, pages 249-261.
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Mridula Sahay & Kuldeep Kumar. (2014) Enhancing the corporate performance through system dynamics modelling. Corporate Ownership and Control 11:2, pages 167-177.
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Emrah Bulut, Okan Duru & Shigeru Yoshida. (2012) A fuzzy integrated logical forecasting (FILF) model of time charter rates in dry bulk shipping: A vector autoregressive design of fuzzy time series with fuzzy c-means clustering. Maritime Economics & Logistics 14:3, pages 300-318.
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Tsan‐Sheng Ng & Shao‐Wei Lam. (2010) Dynamic maritime systems inquiry: The DIVER approach. Systems Engineering 14:3, pages 239-254.
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Haixia Zhu. (2011) Study on border effects for shipping trade based on gravity model. Study on border effects for shipping trade based on gravity model.
Steve Engelen, Payam Norouzzadeh, Wout Dullaert & Bahareh Rahmani. (2011) Multifractal features of spot rates in the Liquid Petroleum Gas shipping market. Energy Economics 33:1, pages 88-98.
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Steve Engelen & Wout Dullaert. (2010) Transformations in gas shipping: Market structure and efficiency. Maritime Economics & Logistics 12:3, pages 295-325.
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Metin Celik & I. Deha Er. (2009) Fuzzy axiomatic design extension for managing model selection paradigm in decision science. Expert Systems with Applications 36:3, pages 6477-6484.
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Metin Celik, I. Deha Er & Y. Ilker Topcu. (2009) Computer-based systematic execution model on human resources management in maritime transportation industry: The case of master selection for embarking on board merchant ships. Expert Systems with Applications 36:2, pages 1048-1060.
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Steve Engelen & Wout Dullaert. (2012) A Classical Partial Disequilibrium Model of the Gas Shipping Markets. SSRN Electronic Journal.
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Steve Engelen, Payam Norouzzadeh, Wout Dullaert & Bahareh Rahamani. (2009) Multrifractal Features of Spot Rates in the Liquid Petroleum Gas Shipping Market. SSRN Electronic Journal.
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