Ναυλαγορές : εξέλιξη ναύλων και η επίδραση της οικονομικής κρίσης στην αγορά χύδην ξηρών φορτίων
Freight markets : the evolution of freights and the influence of the economic crisis on the dry bulk cargo market
KeywordsΝαυλώσεις ; Ναυλαγορά ; Οικονομική κρίση ; Ναυτιλιακές οικονομικές διακυμάνσεις ; Αγορά χύδην ξηρού φορτίου ; Παράγοντες ζήτησης ; Παράγοντες προσφοράς ; Chartering ; Freight markets ; Freight and hire rate ; Economic crisis ; Maritime economic fluctuations ; Dry bulk cargo market ; Demand factors ; Supply factors
The present dissertation presents the trend of freight rates and the effect of the economic crisis on their volatility, considering the dry bulk market for the period 2004-2014, a market in which ships carry products such as grain, iron ore and coal. Firstly, considering the theoretical perspective of this issue, it contains a general reference to the sea transportation need which leads to the Chartering field and to the environment of the freight markets. Afterwards, it uses information from the Maritime Economic field to describe theories such as business cycles in general and maritime economic fluctuations, which are closely associated with economic crises, particularly the recent economic crisis. The freight rates in particular, are key elements in a shipping market and refer to the cost of transport of a bulk cargo from one place to another. The empirical part of the dissertation, uses linear regression analysis regarding the impact on freight rates trends by demand and supply factors for the period 2004-2014. The conclusions are that the economic crisis has significantly affected both freights and demand and supply factors affecting them.