We develop a container industry-specific real options investment model in oligopolistic competition taking into account endogenous price function, fuel-efficient investment, endogenous lead times, and endogenous price formation in the second-hand vessel market. We assess how optimal capacity is influenced by competitive intensity, number of players, volatility, fuel-efficiency, lead time, and cost. Moreover, we investigate optimal investment policies. We find that strategic action increases firm value and that it is worthwhile to consider alliances. Additionally, players in the market should consider retrofitting old vessels for fuel economy in economic downturns and using new, fuel-efficient vessels for capacity expansion in market upswings.


    Zugriff

    Zugriff über TIB

    Verfügbarkeit in meiner Bibliothek prüfen

    Bestellung bei Subito €


    Exportieren, teilen und zitieren



    Titel :

    Investment into container shipping capacity: A real options approach in oligopolistic competition


    Beteiligte:

    Erschienen in:

    Erscheinungsdatum :

    2016




    Medientyp :

    Aufsatz (Zeitschrift)


    Format :

    Print


    Sprache :

    Englisch



    Klassifikation :

    BKL:    85.00 / 55.82 Güterverkehr



    Competition policy in liner shipping: policy options

    van der Ziel, G. J. / International Association of Maritime Economists / Universitaire Faculteiten Sint-Ignatius te Antwerpen | British Library Conference Proceedings | 1994


    Strategic maritime container service design in oligopolistic markets

    Angeloudis, Panagiotis | Online Contents | 2016



    Competition policy in liner shipping: policy options A commentary

    Brooks, M. R. / International Association of Maritime Economists / Universitaire Faculteiten Sint-Ignatius te Antwerpen | British Library Conference Proceedings | 1994


    Towards improved port capacity investment decisions under uncertainty: a real options approach

    Balliauw, Matteo / Meersman, Hilde / Van de Voorde, Eddy et al. | Taylor & Francis Verlag | 2019