Gemi Sahiplerinin Filo Kapasitesi Ayarlama Kararlarında Faiz Oranlarının Rolü

Açık, Abdullah; Kesiktaş, Halil Hüseyin İshak; Başer, Sadık Özlen

doi:10.30784/epfad.642061

Cited by 3 publications

(4 citation statements)

References 33 publications

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“…On the other hand, different results have been obtained in empirical studies modeling interest rate and ship assets. In the study by Açık et al (2020), freight positively affects the amount of ships ordered, while the interest rate negatively affects it. In the study by Youngjae and Hyunsok (2016), the effect of the interest rate on the value of the ship was determined to be negative.…”

Section: Figure 2 Structural Breaks In the Seriesmentioning

confidence: 98%

“…Or if the cost of purchasing a new ship is too expensive due to the high interest rates, the owner may decide to continue operating its old and obsolescence ship. In one of the rare empirical studies on this subject, it was found that the increase in interest rates decreased both the amount of new ship orders and the amount of ships sent for demolition (Açık et al, 2020). Also, as the increase in interest rates increases capital costs, a decrease in ship prices may be observed, since the demand for ships also decreases (Beenstock, 1985;Youngjae and Hyunsok, 2016).…”

Section: Figure 2 Structural Breaks In the Seriesmentioning

confidence: 99%

“…In a recent study examining the effect of interest rates on the maritime market, new building and demolition markets from maritime sub-markets are discussed by Açık, Kesiktaş and Başer (2020). The researchers aimed to estimate the two markets with two models and examine the effect of interest rates on the number of new ordered ships and the number of demolished ships.…”

Section: Literature Reviewmentioning

confidence: 99%

“…They also revealed that the ship price is affected more by freight rates than by interest rates. In parallel with Açık et al (2020), ship-purchasing costs are increasing due to increasing interest rates. This situation affects the price negatively as the demand for ships decreases.…”

Section: Literature Reviewmentioning

confidence: 99%

See 3 more Smart Citations

Analyzing the Impact of Interest Rate on Dry Bulk Freight Market with Time-Varying Causality Method

Açık

Okutucu

Efes

et al. 2021

Ekonomi, Politika &Amp; Finans Araştırmaları Dergisi

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The interest rates significantly affect maritime markets, both with their role in determining the cost of ship investments and their role in determining the demand for goods in the world economy. We examined the impact on the freight market, which is the fundamental of other maritime markets and is much more dynamic than them. Considering that change in interest rates affects the world economy, but this effect may not survive throughout the period, we applied the analysis first with a linear approach and then with a time-varying approach. The federal funds rate is used as an indicator of global interest rates, and the Baltic Dry Index (BDI) is used as an indicator of the dry bulk freight market. As a result of analysis performed using a data set consisting of 302 monthly observations covering the period between 1995 and 2020, it was determined that the significant relationship does not exist throughout the whole sample, it exists only at certain periods, and the significant effect occurs when BDI tends to increase and decrease. Thus, it was determined that changes in interest rates not only affect the global economy but also the trend of the dry bulk freight market.

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Section: Figure 2 Structural Breaks In the Seriesmentioning

confidence: 98%

Section: Figure 2 Structural Breaks In the Seriesmentioning

confidence: 99%

Section: Literature Reviewmentioning

confidence: 99%

Section: Literature Reviewmentioning

confidence: 99%

See 2 more Smart Citations

Analyzing the Impact of Interest Rate on Dry Bulk Freight Market with Time-Varying Causality Method

Açık

Okutucu

Efes

et al. 2021

Ekonomi, Politika &Amp; Finans Araştırmaları Dergisi

Self Cite

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An evaluation of ship investment in interval type-2 fuzzy environment

Akan

Bayar

2021

Journal of the Operational Research Society

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The Effect of Aging on Ship Values: An Econometric Analysis on Major Ship Types

Gültekin

Açık

Efes

et al. 2021

Marine Science and Technology Bulletin

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Ships are investments that require significant capital and therefore the factors affecting their value must be analyzed carefully. The study in the paper is determined to what extent the effect of age, which is one of the most influential factors in sales value, differs in terms of ship type. The reports including the ship sale activities cover the period between January 2013 and December 2019 and consist of 84 monthly reports. Regression analysis was performed as the sales price as the dependent variable, age, freight, and size as independent variables. According to the results, it was determined that the ship types whose value decreases the most due to the age change are those used in gas transportation, while the least affected ship type by age is those used in bulk transportation. In addition, it has been determined that the ship type most affected by freight is those used in gas transportation and that the ship type most affected by the size is those used in container transportation. It can also be said that the ship type with the lowest risk of investment is bulk ships and the ship type with the greatest risk is gas ships. It is hoped that these results provide important information especially for players conducting their commercial activities upon sale & purchase transactions in the market.

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Gemi Sahiplerinin Filo Kapasitesi Ayarlama Kararlarında Faiz Oranlarının Rolü

Cited by 3 publications

References 33 publications

Analyzing the Impact of Interest Rate on Dry Bulk Freight Market with Time-Varying Causality Method

Analyzing the Impact of Interest Rate on Dry Bulk Freight Market with Time-Varying Causality Method

An evaluation of ship investment in interval type-2 fuzzy environment

The Effect of Aging on Ship Values: An Econometric Analysis on Major Ship Types

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