The paper investigates the effect of vessel specific and market variables on the probability of scrapping dry bulk ships. Using a dataset from 2012 to 2015, we find that the probability of scrapping increases with age, but that the relation between vessel size and scrapping probability varies across the different segments. In addition, while the relation between earnings and probability of scrapping ships is negative, bunker prices seem to affect only the scrapping rate of smaller tonnage. Scrapping probability also increases with an increase in interest rates, freight market volatility and scrap steel prices.


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    Titel :

    Capacity retirement in the dry bulk market: A vessel based logit model



    Erschienen in:

    Erscheinungsdatum :

    2016




    Medientyp :

    Aufsatz (Zeitschrift)


    Format :

    Print


    Sprache :

    Englisch



    Klassifikation :

    BKL:    85.00 / 55.82 Güterverkehr




    Capacity retirement in the dry bulk market: A vessel based logit model

    Alizadeh, Amir H. / Strandenes, Siri Pettersen / Thanopoulou, Helen | Elsevier | 2016


    Generalized logit model

    Gerken, J. | Elsevier | 1989