Cyclical behaviour in the shipping market was investigated, for the first time, using Fourier analysis to extract cycle frequency information from data which have been Hodrick–Prescott filtered; in this case, dry freight earnings data. An industry rule of thumb asserts that shipping cycles last 7 years, but using a sample of daily dry charter earnings over a 21-year period, a prominent 4-year shipping cycle in the dry bulk sector is found, with a longer 7-year cycle superimposed. A better understanding of the shipping cycle will facilitate investment, since timing has been identified as a principal decision-driver.


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    Title :

    Investigating the cyclical behaviour of the dry bulk shipping market


    Contributors:

    Published in:

    Publication date :

    2014-01-02


    Size :

    19 pages




    Type of media :

    Article (Journal)


    Type of material :

    Electronic Resource


    Language :

    English



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