کد مقاله | کد نشریه | سال انتشار | مقاله انگلیسی | نسخه تمام متن |
---|---|---|---|---|
7115993 | 1461169 | 2016 | 13 صفحه PDF | دانلود رایگان |
عنوان انگلیسی مقاله ISI
Study of Volatility of New Ship Building Prices in LNG Shipping
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کلمات کلیدی
موضوعات مرتبط
مهندسی و علوم پایه
سایر رشته های مهندسی
مهندسی برق و الکترونیک
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چکیده انگلیسی
The natural gas market has been expanding in size and has attracted particular attention across the global energy market. Although most natural gas transportation is carried out through pipelines, almost one third of it is done with the help of merchant vessels, capable of carrying liquefied natural gas. These LNG carriers have a special design and thus can be treated as a separate class of global fleet. New vessels are huge capital investments by vessel owning companies and just like other vessel classes; the new shipbuilding prices for the LNG segment continue to be a key aspect in the decision making of business players. Additionally these prices can be volatile as new ship building prices fluctuate with time. This paper attempts to analyse the volatility of new ship building prices of LNG carriers. For the study, the average ship building prices for all the LNG carriers having volume carrying capacity is between 160,000 - 173,000 cbm to be delivered between 2016 - 2019 were taken into account. For the analysis, GARCH and EGARCH methods were applied on the data set. The analysis concluded that there is a great deal of volatility in the new ship building prices of LNG vessels. It was also identified that negative shocks were more persistent the positive shocks.
ناشر
Database: Elsevier - ScienceDirect (ساینس دایرکت)
Journal: International Journal of e-Navigation and Maritime Economy - Volume 5, December 2016, Pages 61-73
Journal: International Journal of e-Navigation and Maritime Economy - Volume 5, December 2016, Pages 61-73
نویسندگان
T. Bangar Raju, Vikas S. Sengar, R. Jayaraj, N. Kulshrestha,