Short versus period time charters in Supramax market
Στρατηγική ναυλώσεων με βραχυχρόνιο ή μεσοπρόθεσμο ορίζοντα
Κρόκος, Δημήτριος Γ.
Bulk carrier ships perform a limited number of transactions per year, combined with the attitude of shipping firms against freight market’s volatility, characterize the choice of charter form as a strategic function. In this context the choice of spot or time charter market is the most important decision for a vessel’s chartering. Using market data from the period 2012-2013-2014 for the Supramax segment, various factors and conditions are analyzed to address the interrelations among three generic types of chartering strategies. Their suitability and adoption with minor or greater variations depend on the prevailing market conditions, the shipping risk which firms are allowed to take and their capital needs.