We provide evidence on the dynamic effects of fuel price shocks, shipping demand shocks, and shipping supply shocks on real dry bulk freight rates in the long run. We first analyze a new dataset on dry bulk freight rates for the period from 1850 to 2020, finding that they followed a downward but undulating path with a cumulative decline of 79%. Next, we turn to understanding the drivers of booms and busts in the dry bulk shipping industry, finding that shipping demand shocks strongly dominate all others as drivers of real dry bulk freight rates in the long run. Furthermore, while shipping demand shocks have increased in importance over time, shipping supply shocks in particular have become less relevant
Dry Bulk Shipping and the Evolution of Maritime Transport Costs, 1850-2020
NBER working paper series ; no. w28627
2021
1 Online-Ressource
illustrations (black and white)
Campusweiter Zugriff (Universität Hannover) - Vervielfältigungen (z.B. Kopien, Downloads) sind nur von einzelnen Kapiteln oder Seiten und nur zum eigenen wissenschaftlichen Gebrauch erlaubt. Keine Weitergabe an Dritte. Kein systematisches Downloaden durch Robots.
Book
Electronic Resource
English
Maritime transport : shipping logistics and operations
TIBKAT | 2020
|Shipping - Transport maritime de combustible nucléaire
Online Contents | 2002
Freight Rates and Dry Bulk Shipping Costs
British Library Online Contents | 1993
Shipping - Transport maritime : proposition d'accord avec la Chine
Online Contents | 2002
Paper retaining doors cut bulk-commodity shipping costs
Engineering Index Backfile | 1949