Tsolakis, S.

market price model tanker freight option result value carrier variable newbuilding chapter vessel demand ship types table fleet freight rates level investment charter newbuilding prices error analysis panamax increase effect period order asset method bulk carriers company supply shipowners diversification industry approach series project thesis shipbuilding error correction model portfolio cointegration capacity trade reason suezmax decision combination example timecharter cycle change shipyard number orderbook research ship prices business relationship aframax ship type problem risk reduction benefits time charter rates correlation figure correction scrap cointegrating voyage return exchange expectation forecast opportunity management world