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Author: George Alexandridis
Publisher:
ISBN:
Category :
Languages : en
Pages :
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Book Description
Economic return and volatility spillovers of derivatives markets on a number of assets have been extensively examined in the general economics literature. However, there are only a limited number of studies that investigate such interactions between freight rates and the freight futures, and no studies that also consider potential linkages with freight options. This study fills this gap by investigating the economic spillovers between time-charter rates, freight futures and freight options prices in the dry-bulk sector of the international shipping industry. Empirical results indicate the existence of significant information transmission in both returns and volatilities between the three related markets, which we attribute to varying trading activity and market liquidity. The results also point out that, consistent with theory, the freight futures market informationally leads the freight rate market, though surprisingly, freight options lag behind both futures and physical freight rates, thus not fulfilling their price discovery function. The documented three-way economic interactions between the related markets can be used to enhance budget planning and risk management strategies, potentially attract more investors, and thus, improve the liquidity of the freight derivatives market.
Author: George Alexandridis
Publisher:
ISBN:
Category :
Languages : en
Pages :
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Book Description
Economic return and volatility spillovers of derivatives markets on a number of assets have been extensively examined in the general economics literature. However, there are only a limited number of studies that investigate such interactions between freight rates and the freight futures, and no studies that also consider potential linkages with freight options. This study fills this gap by investigating the economic spillovers between time-charter rates, freight futures and freight options prices in the dry-bulk sector of the international shipping industry. Empirical results indicate the existence of significant information transmission in both returns and volatilities between the three related markets, which we attribute to varying trading activity and market liquidity. The results also point out that, consistent with theory, the freight futures market informationally leads the freight rate market, though surprisingly, freight options lag behind both futures and physical freight rates, thus not fulfilling their price discovery function. The documented three-way economic interactions between the related markets can be used to enhance budget planning and risk management strategies, potentially attract more investors, and thus, improve the liquidity of the freight derivatives market.
Author: International Maritime Economic History Association
Publisher: Oxford University Press
ISBN: 096812884X
Category : Business & Economics
Languages : en
Pages : 444
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Book Description
This book is concerned with the role played by the sea transport industries in the development of global markets. It claims that the sea transport industry in fundamentally intrinsic to the political and economic interactions between nations. It seeks to demonstrate that the elements of shipping, internationalisation, and globalisation are intertwined. The purpose of this journal is to trace the development and examine the consequences of globalisation as it relates to maritime history. The four main issues under consideration are:- information networks and cooperation in transoceanic shipping; the expansion of markets; technological change; and the adaptability of entrepreneurs, institutions, and nation states to changing business environments. Geographically, the focus of the contributing essays splits between Europe and Japan.
Author: Manolis G. Kavussanos
Publisher: Taylor & Francis
ISBN: 1000368963
Category : Transportation
Languages : en
Pages : 555
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Book Description
This advanced practical textbook deals with the issue of risk analysis, measurement and management in the shipping industry. It identifies and analyses the sources of risk in the shipping business and explores in detail the “traditional” and “modern” strategies for risk management at both the investment and operational levels of the business. The special features and characteristics of all available freight derivative products are compared and contrasted between them. Practical applications of derivatives are showcased through realistic practical examples, while a number of concepts across the contents of this book appear for the first time in the literature. The book also serves as “the reference” point for researchers in the area, helping them to enhance their knowledge of risk management and derivatives in the shipping industry, but also to students at both undergraduate and postgraduate levels. Finally, it provides a comprehensive manual for practitioners wishing to engage in the financial risk management of maritime business. This second edition has been fully updated in order to incorporate the numerous developments in the industry since its first edition in 2006. New chapters have been introduced on topics such as Market Risk Measurement, Credit Risk and Credit Derivatives, and Statistical Methods to Quantify Risk. Furthermore, the second edition of this book builds upon the successful first edition which has been extensively (i) taught in a number of Universities around the world and (ii) used by professionals in the industry. Shipowners, professionals in the shipping industry, risk management officers, credit officers, traders, investors, students and researchers will find the book indispensable in order to understand how risk management and hedging tools can make the difference for companies to remain competitive and stay ahead of the rest.
Author: Alan Branch
Publisher: Routledge
ISBN: 1134742673
Category : Business & Economics
Languages : en
Pages : 597
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Book Description
Now in its second edition Maritime Economics provides a valuable introduction to the organisation and workings of the global shipping industry. The author outlines the economic theory as well as many of the operational practicalities involved. Extensively revised for the new edition, the book has many clear illustrations and tables. Topics covered include: * an overview of international trade * Maritime Law * economic organisation and principles * financing ships and shipping companies * market research and forecasting.
Author: Ignacy Chrzanowski
Publisher:
ISBN:
Category : Business & Economics
Languages : en
Pages : 148
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Book Description
Author: A. Alizadeh
Publisher: Springer
ISBN: 0230235808
Category : Business & Economics
Languages : en
Pages : 528
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Book Description
A comprehensive book on shipping derivatives and risk management which covers the theoretical and practical aspects of financial risk in shipping. The book provides a thorough overview of the practice of risk management in shipping with the use of theoretical examples and real-life applications.
Author: Tetsuji Shimojō
Publisher:
ISBN:
Category : Cargo ships
Languages : en
Pages : 404
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Book Description
Author: Mehmet Huseyin Bilgin
Publisher: Springer Nature
ISBN: 303094672X
Category : Business & Economics
Languages : en
Pages : 353
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Book Description
EBES conferences have been intellectual hub for academic discussion in economics, finance, and business fields and provide network opportunities for participants to make long lasting academic cooperation. This is the 22nd volume of the Eurasian Studies in Business and Economics (EBES’s official proceeding series) which includes selected papers from the 35th EBES Conference – Rome 2021. Due to the COVID-19, the conference presentation mode has been switched to "online/virtual presentation only”. In the conference, 142 papers by 302 colleagues from 48 countries were presented. Both theoretical and empirical papers in this volume cover diverse areas of business, economics, and finance from many different regions. Therefore, it provides a great opportunity to colleagues, professionals, and students to catch up with the most recent studies in different fields and empirical findings on many countries and regions.
Author: Kasra Pourkermani
Publisher:
ISBN:
Category :
Languages : en
Pages : 188
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Book Description
Author: Costas Grammenos
Publisher: Taylor & Francis
ISBN: 1135134065
Category : Law
Languages : en
Pages : 1093
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Book Description
This book is the founding title in the Grammenos Library. The diversity of the subjects covered is unique and the results of research developed over many years are not only comprehensive, but also have important implications on real life issues in maritime business. The new edition covers a vast number of topics, including: • Shipping Economics and Maritime Nexus • International Seaborne Trade • Economics of Shipping Market and Shipping Cycles • Economics of Shipping Sectors • Issues in Liner Shipping • Economics of Maritime Safety and Seafaring Labour Market • National and International Shipping Policies • Aspects of Shipping Management and Operations• Shipping Investment and Finance • Port Economics and Management • Aspects of International Logistics
