Publication Cover
Maritime Policy & Management
The flagship journal of international shipping and port research
Volume 45, 2018 - Issue 7
1,135
Views
17
CrossRef citations to date
0
Altmetric
Articles

Dynamics and interdependencies among different shipping freight markets

ORCID Icon, ORCID Icon, ORCID Icon, ORCID Icon, ORCID Icon & ORCID Icon

References

  • Adland, R., F. Bjerknes, and C. Herje. 2017. “Spatial Efficiency in the Bulk Freight Market.” Maritime Policy & Management 44 (4): 413–425. doi:10.1080/03088839.2017.1298864.
  • Adland, R., H. Jia, and S. Koekebakker. 2004. “The Pricing of Forward Ship Value Agreements and the Unbiasedness of Implied Forward Prices in the Second Hand Market for Ships.” Maritime Economics & Logistics 6: 109–121. doi:10.1057/palgrave.mel.9100098.
  • Alexandridis, G., S. Sahoo, and I. Visvikis. 2017. “Economic Information Transmissions and Liquidity between Shipping Markets: New Evidence from Freight Derivatives.” Transportation Research Part E: Logistics and Transportation Review 98: 82–104. doi:10.1016/j.tre.2016.12.007.
  • Alizadeh, A. H. 2013. “Trading Volume and Volatility in the Shipping Forward Freight Market.” Transportation Research Part E: Logistics and Transportation Review 49: 250–265. doi:10.1016/j.tre.2012.08.001.
  • Alizadeh, A. H., and N. K. Nomikos. 2006. “Trading Strategies in the Market for Tankers.” Maritime Policy & Management 33 (2): 119–140. doi:10.1080/03088830600612799.
  • Batchelor, R., A. Alizadeh, and I. Visvikis. 2007. “Forecasting Spot and Forward Prices in the International Freight Market.” International Journal of Forecasting 23 (1): 101–114. doi:10.1016/j.ijforecast.2006.07.004.
  • Bentes, S. R. 2014. “Measuring Persistence in Stock Market Volatility Using the FIGARCH Approach.” Physica A 408: 190–197. doi:10.1016/j.physa.2014.04.032.
  • Berg-Andreassen, J. A. 1998. “A Portfolio Approach to Strategic Chartering Decisions.” Maritime Policy & Management 25 (4): 375–389. doi:10.1080/03088839800000060.
  • Bollerslev, T. 1986. “Generalized Autoregressive Conditional Heteroskedasticity.” Journal of Econometrics 31 (3): 307–327. doi:10.1016/0304-4076(86)90063-1.
  • Cariou, P., and F. C. Wolff. 2006. “An Analysis of Bunker Adjustment Factors and Freight Rates in the Europe/Far East Market (2000–2004).” Maritime Economics & Logistics 8 (2): 187–201. doi:10.1057/palgrave.mel.9100156.
  • Chung, S. K., and J. H. Weon. 2013. “Long Memory and Asymmetric Time Varying Spillover Effects in Dry Bulk Freight Markets.” Maritime Economics & Logistics 15: 494–522. doi:10.1057/mel.2013.13.
  • Clarksons Research. 2016. https://clarksonsresearch.wordpress.com/
  • Erdogan, O., K. Tata, B. C. Karahasan, and M. H. Sengoz. 2013. “Dynamics of the Co-Movement between Stock and Maritime Markets.” International Review of Economics and Finance 25: 282–290. doi:10.1016/j.iref.2012.07.007.
  • Goulas, L., and G. Skiadopoulos. 2012. “Are Freight Futures Markets Efficient? Evidence from IMAREX.” International Journal of Forecasting 28 (3): 644–659. doi:10.1016/j.ijforecast.2011.11.004.
  • Joe, H., and J. J. Xu. 1996. “The Estimation Method of Inference Functions for Margins for Multivariate Models.” Technical Report 166, Department of Statistics, University of British Columbia.
  • Kavussanos, M. G., and A. H. Alizadeh-M. 2001. “Seasonality Patterns in Dry Bulk Shipping Spot and Time Charter Freight Rates.” Transportation Research Part E: Logistics and Transportation Review 37: 443–467. doi:10.1016/S1366-5545(01)00004-7.
  • Kavussanos, M. G., and A. H. Alizadeh-M. 2002. “The Expectations Hypothesis of the Term Structure and Risk Premiums in Dry Bulk Shipping Freight Markets.” Journal of Transport Economics and Policy 36 (2): 267–304.
  • Kavussanos, M. G., and N. K. Nomikos. 1999. “The Forward Pricing Function of the Shipping Freight Futures Market.” Journal of Futures Markets 19 (3): 353–376. doi:10.1002/(ISSN)1096-9934.
  • Kavussanos, M. G., and N. K. Nomikos. 2003. “Price Discovery, Causality and Forecasting in the Freight Futures Market.” Review of Derivatives Research 6: 203–230. doi:10.1023/B:REDR.0000004824.99648.73.
  • Kavussanos, M. G., and I. D. Visvikis. 2004. “Market Interactions in Returns and Volatilities between Spot and Forward Shipping Freight Markets.” Journal of Banking & Finance 28: 2015–2049. doi:10.1016/j.jbankfin.2003.07.004.
  • Kavussanos, M. G., I. D. Visvikis, and R. A. Batchelor. 2004. “Over-The-Counter Forward Contracts and Spot Price Volatility in Shipping.” Transportation Research Part E: Logistics and Transportation Review 40 (4): 273–296. doi:10.1016/j.tre.2003.08.007.
  • Kavussanos, M. G., I. D. Visvikis, and D. N. Dimitrakopoulos. 2010. “Information Linkages between Panamax Freight Derivatives and Commodity Derivatives Markets.” Maritime Economics & Logistics 12: 91–110. doi:10.1057/mel.2009.20.
  • Kilian, L. 2009. “Not All Oil Price Shocks are Alike: Disentangling Demand and Supply Shocks in the Crude Oil Market.” The American Economic Review 99 (3): 1053–1069. doi:10.1257/aer.99.3.1053.
  • Kou, Y., and M. Luo. 2016. “Strategic Capacity Competition and Overcapacity in Shipping.” Maritime Policy & Management 43 (4): 389–406. doi:10.1080/03088839.2015.1105395.
  • Lai, Y. H., C. W. S. Chen, and R. Gerlach. 2009. “Optimal Dynamic Hedging via Copula-Threshold- GARCH Models.” Mathematic and Computers in Simulation 79 (8): 2609–2624. doi:10.1016/j.matcom.2008.12.010.
  • Li, K. X., G. Qi, W. Shi, Z. Yang, H. S. Bang, S. H. Woo, and T. L. Yip. 2014. “Spillover Effects and Dynamic Correlations between Spot and Forward Tanker Freight Markets.” Maritime Policy & Management 41 (7): 683–696. doi:10.1080/03088839.2014.958585.
  • Lu, J., P. B. Marlow, and H. Wang. 2008. “An Analysis of Freight Rate Volatility in Dry Bulk Shipping Markets.” Maritime Policy & Management 35 (3): 237–251. doi:10.1080/03088830802079987.
  • Markowitz, H. 1952. “Portfolio Selection.” The Journal of Finance 7 (1): 77–91.
  • Munim, Z. H., and H. J. Schramm. 2017. “Forecasting Container Shipping Freight Rates for the Far East-Northern Europe Trade Lane.” Maritime Economics & Logistics 19 (1): 106–125. doi:10.1057/s41278-016-0051-7.
  • Nelson, R. B. 1999. An Introduction to Copulas. New York: Springer Verlag.
  • Patton, A. J. 2001. “Modelling Time-Varying Exchange Rate Dependence Using the Conditional Copula.” Working paper, University of California, San Diego.
  • Patton, A. J. 2006. “Modelling Asymmetric Exchange Rate Dependence.” International Economic Review 47 (2): 527–556. doi:10.1111/iere.2006.47.issue-2.
  • Poulakidas, A., and F. Joutz. 2009. “Exploring the Link between Oil Prices and Tanker Rates.” Maritime Policy & Management 36 (3): 215–233. doi:10.1080/03088830902861094.
  • Puarattanaarunkorn, O., and S. Sriboonchitta. 2014. Advances in Intelligent Systems and Computing, 251. Springer, Cham.
  • Reboredo, J. C., and A. Ugolini. 2016. “Quantile Dependence of Oil Price Movements and Stock Returns.” Energy Economics 54: 33–49. doi:10.1016/j.eneco.2015.11.015.
  • Review of Maritime Transport. 2017. United Nations Conference on Trade and Development, New York and Geneva.
  • Shi, W., K. X. Li, Z. Yang, and G. Wang. 2017. “Time-Varying Copula Models in the Shipping Derivatives Market.” Empirical Economics 53 (3): 1039–1058. doi:10.1007/s00181-016-1146-9.
  • Shi, W., Z. Yang, and K. X. Li. 2013. “The Impact of Crude Oil Price on the Tanker Market.” Maritime Policy & Management 40 (4): 309–322. doi:10.1080/03088839.2013.777981.
  • Sklar, A. 1959. “Fonctions De Répartition À N Dimensions Et Leurs Marges.” Publications De L’ Institute Statistique De L’ Université De Paris 8: 229–231.
  • Stopford, M. 2009. Maritime Economics. 3rd ed. London: Routledge.
  • Tsouknidis, D. A. 2016. “Dynamic Volatility Spillovers across Shipping Freight Markets.” Transportation Research Part E: Logistics and Transportation Review 91: 90–111. doi:10.1016/j.tre.2016.04.001.
  • Veenstra, A. W. 1999. “The Term Structure of Ocean Freight Rates.” Maritime Policy & Management 26 (3): 279–293. doi:10.1080/030888399286899.
  • Wei, Y., Y. D. Wang, and D. S. Huang. 2011. “A Copula-Multifractal Volatility Hedging Model for CSI 300 Index Futures.” Physica A: Statistical Mechanics and Its Applications 390 (23–24): 4260–4272. doi:10.1016/j.physa.2011.06.042.
  • Xu, J. J., T. L. Yip, and P. B. Marlow. 2011. “The Dynamics between Freight Volatility and Fleet Size Growth in Dry Bulk Shipping Markets.” Transportation Research Part E: Logistics and Transportation Review 47 (6): 983–991. doi:10.1016/j.tre.2011.05.008.
  • Yang, L., and S. Hamori. 2014. “Dependence Structure between CEEC-3 and German Government Securities Markets.” Journal of International Financial Markets, Institutions and Money 29: 109–125. doi:10.1016/j.intfin.2013.12.003.
  • Yang, Y., C. Liu, X. Sun, and J. Li. 2015. “Spillover Effect of International Crude Oil Market on Tanker Market.” International Journal of Global Energy Issues 38 (4–6), 257–277.
  • Yin, J., M. Luo, and L. Fan. 2017. “Dynamics and Interactions between Spot and Forward Freights in the Dry Bulk Shipping Market.” Maritime Policy & Management 44 (2): 271–288. doi:10.1080/03088839.2016.1253884.
  • Zhang, H., and Q. Zeng. 2015. “A Study of the Relationships between the Time Charter and Spot Freight Rates.” Applied Economics 47 (9): 955–965. doi:10.1080/00036846.2014.985371.
  • Zhang, J., Q. Zeng, and X. Zhao. 2014. “Forecasting Spot Freight Rates Based on Forward Freight Agreements and Time Charter Contract.” Applied Economics 46 (29): 3639–3648.

Reprints and Corporate Permissions

Please note: Selecting permissions does not provide access to the full text of the article, please see our help page How do I view content?

To request a reprint or corporate permissions for this article, please click on the relevant link below:

Academic Permissions

Please note: Selecting permissions does not provide access to the full text of the article, please see our help page How do I view content?

Obtain permissions instantly via Rightslink by clicking on the button below:

If you are unable to obtain permissions via Rightslink, please complete and submit this Permissions form. For more information, please visit our Permissions help page.