Μέθοδοι αποτίμησης ναυτιλιακών αγορών
This very dissertation deals with the valuation methods of the shipping markets considering as one important factor for shipping companies’ financial measures the Fleet Utilization Rate. This is a time productivity measure calculated dividing operating days of a ship over its ownership days. This measure can be disaggregated into three separate efficiency ratios (Commercial, Maintenance and Technical). There are several macro-economic and micro-economic factors affecting utilization rate level, while it is believed that shipping companies maintaining high level in this productivity measure will have very good financial performance. Research in 11 listed shipping companies in bulk, tankers and containers sectors for 2004-2014 period with regression models estimations provided evidence that increased utilization rate can lead to high return, especial return on equity. Moreover, increased technical efficiency can lead to increased fixed asset turnover. Economic crisis impact was also investigated. Results showed that before crisis positive effects exist, while after crisis positive effects still exist with lower extent however.