Ανάλυση προσδιοριστικών παραγόντων αγοραπωλησίας πλοίων και επιλογής μεταξύ τους στην αγορά των νέων κατασκευών και την αγορά των μεταχειρισμένων πλοίων μεταφοράς
Ships sale & purchase is a very important sector of the shipping market for both the development of shipping and the worldwide trade. It is especially beneficial to know the right timing for a possible (investment) transaction of a secondhand or a newbuilding vessel, depending on the progression and the stages of the shipping cycle, but also in the decision between a secondhand or a newbuilding vessel. The aim of this paper is to describe the determinants that define the financial criteria for a possible transaction of a secondhand or a newbuildng vessel. In other words, we need to consider the best period for acquiring a vessel, but also the most preferred investment of a secondhand or a new building vessel. Primarily, in the first chapter, the shipping industry and some of its basic features will be analyzed. Afterwards there will be an introduction to the four main markets : the freight market, the new building vessel market, the secondhand vessel market and the ship demolition market, in order to understand the current situation of these categories. Then, in the second chapter, an academic bibliography review will be presented, in order to examine the findings and conclusions of previous studies of eminent economists that have dealt with this issue in the past. The third chapter of this paper presents the reactions of the shipping market for investments, based on the stages and phases of the shipping cycle. There will also be a reference to the shipping investments during the years 2009 - 2014. In the fourth chapter we examine the relationship between all variable trough time that affect directly or indirectly the investment decision for the sale and purchase of a newbuilding or a secondhand vessel, as well as dissolving/ breaking them. Finally, in the fifth chapter we mention our conclusions, which can constitute a considerable help to investors, financial speculators and shipyards, concerning investment decisions on the construction of newbuilding vessels and the sale and purchase of secondhand vessels.