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Oceanography and Atmospheric Sciences and Meteorology
Shipping; seasonal shipping rates; tramp freight market; tanker market; ocean vessels; OBO; ore/bulk/oil carriers
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The Seasonal Pattern Of Shipping Freight Rates, Wathanachai Raunglerdpanyagul
The Seasonal Pattern Of Shipping Freight Rates, Wathanachai Raunglerdpanyagul
Theses and Major Papers
This paper reviews the behavior of shipping freight rate by using the freight index as an proxy variable. A proxy variable is the one that is a substitute to the intended one because it is difficult to obtain. It was found that a seasonal pattern in the freight rate exists, but no specific estimated pattern of the seasonal variation was found. Generally, tramp freight rates rise above average level from February or March to June or July, and from September or October to December or January. The tanker freight rate, which differs from the tramp freight rate, has only one …