Shipping Economics Development: A Review from the Perspective of
the Shipping Industry Chain for the Past Four Decades

doi:10.1007/s12204-022-2449-y

Abstract

Abstract: To know the development of shipping economics, it is meaningful to overview shipping economics systemically from the perspective of markets and the shipping industry chain. To stimulate future research, this article presents an introduction to the evolution of research models including static models, dynamic models and networks theory, the characteristics of shipping markets including volatility, seasonal and market cycle, and a comprehensive review of the development of shipping economics in the past four decades. We review shipping economics in the following steps: single market’s research is generalized including the freight market, financial market including FFA market and investment market, shipbuilding market, and secondhand market; two markets’ correlation, information transmission, spillover effects, and other rules in shipping markets are surveyed; the correlation and risk of multi-markets are also investigated. Then, we summarize relationships of the shipping industry chain. Finally, we figure out issues in this field that need further study.

Key words: shipping economics, market characteristics, single market, shipping industry chain

CLC Number:

U 6-9
F 55

XIA Qiliang (夏启亮), CHEN Feier ∗ (陈飞儿). Shipping Economics Development: A Review from the Perspective of the Shipping Industry Chain for the Past Four Decades[J]. J Shanghai Jiaotong Univ Sci, 2022, 27(3): 424-436.

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Shipping Economics Development: A Review from the Perspective of the Shipping Industry Chain for the Past Four Decades

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