Μεταφορές κι επενδύσεις: η περίπτωση των δεξαμενόπλοιων
Transport and investment: the case of tankers
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Keywords
Ναυτιλία ; Δεξαμενόπλοιο ; Επένδυση ; Ναυτιλιακός κύκλος ; Κόστη ; Ταμειακές ροέςAbstract
This study presents the comparison between tankers, one owned by the trading company EKO SA for twenty-five years and a second hand one, five-years old of advanced technology, which could be purchased order EKO SA decides which one meet its needs. EKO SA will be the study case of this dissertation. Our purpose is through the company’s needs to come up with the best investment solution, which will include investment’s valuation techniques.
It is important to stress that investment’s evaluation process is a very complex procedure and -by its nature- may contain a high degree of uncertainty and risk.
The first part of this study presents theoretical data for the analysis of the "shipping industry" or "shipping" in general, in order we understand as best is possible, its route and how same has become an integral part of the human factor. We will refer on vessels’ types, their characteristics, the requested procedures which ensure safe cargoes’ transportation and safety of people who are involved, order we achieve to have a full picture. Tanker’s concept will be detailed analyzed as this will be the subject of our investment.
Within the second part of this study we will present the shipping cycles as considered necessary for the successful development of the shipping industry. Through these cycles transportations’ offer and request are balanced. Adverse economic conditions or economic growth affects directly the shipping sector. In addition are the shipping costs, which are our basis for tankers’ financial analysis and will be studied within the third part of this dissertation. It is very important to separate vessel’s costs, in our case tankers, in order we achieve the appropriate investments’ conclusion using evaluation techniques.
Finally in the third part, the financial estimation of the requested investment will be presented. The under study investment will be examined by analyzing and comparing the costs of the existing vessel and the potential’s one which are on ship owner’s account, as well as the profits. The financial analysis which will be presented, will show us the most profitable investment.