Ship demolition activity: A monetary flow process approach
| Autor: | Dionysios Polemis, Thanasis Karlis |
|---|---|
| Jazyk: | angličtina |
| Rok vydání: | 2016 |
| Předmět: |
020209 energy
Geography Planning and Development Ocean Engineering Scrap 02 engineering and technology 010501 environmental sciences Dry bulk market Demolition Maritime markets 01 natural sciences Supply and demand Commerce Currency 0202 electrical engineering electronic engineering information engineering Economics Economic analysis Market value Engineering (miscellaneous) GeneralLiterature_REFERENCE(e.g. dictionaries encyclopedias glossaries) Social Sciences (miscellaneous) Industrial organization Flow process 0105 earth and related environmental sciences |
| Zdroj: | Pomorstvo Volume 30 Issue 2 |
| ISSN: | 1846-8438 1332-0718 |
| Popis: | The demolition market assists in balancing the supply and demand in the shipping industry and from that perspective is a major driver of market equilibrium and the level of freight rates. Even so, literature related to ship demolition, focuses mainly on the environmental and regulatory aspects of the topic. Literature related to the economic analysis of the industry and the factors affecting demolition activity is rather limited and sporadic. From this perspective the current paper is helpful to further build up insight of the shipbreaking industry. The decision to sell a ship for scrap is driven by a number of factors with the most important being the state of the market cycle. The offered scrap price for the ship will also affect the decision of the shipowner. In this paper we support the view that ship scrap prices are affected by the currency exchange rates at the main demolition countries. We apply regression to evaluate our hypothesis. The regression results indicate a strong relation between ship scrap price and currency exchange rates of the main demolition countries albeit with some differentiations between vessel sizes. |
| Databáze: | OpenAIRE |
| Externí odkaz: |
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