scholarly journals Influencing factors of crude oil maritime shipping freight fluctuations: a case of Suezmax tankers in Europe-Africa routes

2022 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Jihong Chen ◽  
Renjie Zhao ◽  
Wenjing Xiong ◽  
Zheng Wan ◽  
Lang Xu ◽  
...  
Keyword(s):  
Crude Oil ◽  
Influencing Factors ◽  
Influencing Factor ◽  
Freight Rate ◽  
Content Type ◽  
Support Tool ◽  
Vector Error Correction ◽  
Freight Rates ◽  
Maritime Shipping ◽  
One Year

PurposeThe paper aims to identify the contributors to freight rate fluctuations in the Suezmax tanker market; this study selected the refinery output, crude oil price, one-year charter rate and fleet development as the main influencing factors for the market analysis.Design/methodology/approachThe paper used the VEC (vector error correction) model to evaluate the degree of impact of each influencing factor on Suezmax tanker freight rates, as well as the interplay between these factors.FindingsThe conclusion and results were tested using the 20-year data from 1999 to 2019, and the methodology and theory of this paper were proved to be effective. Results of this study provide effective reference for scholars to find the law of fluctuations in Suezmax tanker freight rates.Originality/valueThis paper provides a decision-making support tool for tanker operators to cope with fluctuation risks in the tanker shipping market.

Benchmarking freight rates and procuring cost-attractive transportation services

2017 ◽  
Vol 28 (1) ◽  
pp. 194-205 ◽  
Author(s):  
Seong-Jong Joo ◽  
Hokey Min ◽  
Carlo Smith
Keyword(s):  
Statistical Significance ◽  
Transportation Cost ◽  
Freight Rate ◽  
Least Square ◽  
Transportation Costs ◽  
Content Type ◽  
Negotiation Strategies ◽  
Freight Rates ◽  
Carrier Selection ◽  
The Impact

Purpose The purpose of this paper is to help shippers determine a negotiation yardstick for transportation price and formulate wise transportation outsourcing strategies by examining the presence of freight rate differentials for shippers and identifying their main causes. This paper also develops a framework for benchmarking freight rates based on the actual data. Design/methodology/approach This paper proposes an additive dummy regression model to determine a statistical significance in shipping charges between different shippers. Unlike the traditional least square analysis, the proposed model is designed to avoid a biased assessment of the impact of an explanatory variable. Findings Through a series of empirical data analysis and hypothesis tests, the authors discovered that the fixed portion (minimum base charge) of shipping charges differed depending on the shipper’ individual contract, while the variable portion (fuel or accessorial charge) of shipping charges remained the same regardless of the shipper’s individual contract. As such, shippers who are unaware of flexible but unpredictable transportation pricing practices and unprepared for freight rate negotiation can suffer from higher shipping costs as compared to their peers. Thus, the authors conclude that the success of transportation outsourcing, carrier selection, and freight rate negotiation strategies tends to rest on the shipper’s ability to understand transportation cost structures and then determine the benchmark freight rate considered “fair” and “reasonable” for a given service. Originality/value This paper is one of the first to examine shipping cost differentials between different shippers and determine what causes such differentials. In doing so, this paper attempted to assess the potential impact of freight rate negotiation and carrier selection strategies on shippers’ transportation costs in current deregulatory environments where shippers were given a greater freedom to negotiate freight rates with carriers and an increased opportunity to save their transportation costs.

scholarly journals The interrelationship between ocean, rail, truck and air freight rates

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Joshua Shackman ◽  
Quinton Dai ◽  
Baxter Schumacher-Dowell ◽  
Joshua Tobin
Keyword(s):  
Time Series ◽  
Predictive Power ◽  
Time Series Data ◽  
Predictive Ability ◽  
Freight Rate ◽  
Economic Indicators ◽  
Series Data ◽  
Air Cargo ◽  
Content Type ◽  
Freight Rates

PurposeThe purpose of this paper is to examine the long-term cointegrating relationship between ocean, rail, truck and air cargo freight rates, as well as the short-term dynamics between these four series. The authors also test the predictive ability of these freight rates on major economic indicators.Design/methodology/approachThe authors employ a vector error-correction model using 16 years of monthly time series data on freight rate data in the ocean, truck, rail and air cargo sectors to examine the interrelationship between these series as well as their interrelationship with major economic indicators.FindingsThe authors find that truck freight rates and as well as dry bulk freight rates have the strongest predictive power over other transportation freight rates as well as for the four major economic indicators used in this study. The authors find that dry bulk freight rates lead other freight rates in the short-run but lag other freight rates in the long run.Originality/valueWhile ocean freight rate time series have been examined in a large number of studies, little research has been done on the interrelationship between ocean freight rates and the freight rates of other modes of transportation. Through the use of data on five different freight rate series, the authors are able to assess which rates lead and which rates lag each other and thus assist future researchers and practitioners forecast freight rates. The authors are also one of the few studies to assess the predictive power of non-ocean freight rates on major economic indicators.

Platform ecological circle for cold chain logistics enterprises: the value co-creation analysis

2020 ◽  
Vol 120 (4) ◽  
pp. 675-691 ◽  
Author(s):  
Benhong Peng ◽  
Yuanyuan Wang ◽  
Sardar Zahid ◽  
Guo Wei ◽  
Ehsan Elahi
Keyword(s):  
Influencing Factors ◽  
Resource Sharing ◽  
Structural Equation ◽  
Dynamic Capabilities ◽  
Positive Influence ◽  
Cold Chain ◽  
Enterprise Performance ◽  
Logistics Industry ◽  
Content Type ◽  
Logistics Enterprises

Purpose The purpose of this paper is to propose a framework of value co-creation in platform ecological circle for cold chain logistics enterprises to guide the transformation and development of cold chain logistics industry. Design/methodology/approach This paper establishes a conceptual framework for the research on the platform ecological circle in cold chain logistics, utilizes a structural equation model to investigate the influencing factors of the value co-creation of the platform ecological circle in the cold chain logistics enterprises and elaborates the internal relations between different influencing factors regarding the value co-creation and enterprises’ performance. Findings Results show that resource sharing in logistics platform ecological circle can stimulate the interaction among enterprises and this produces a positive influence on their dynamic capabilities, which, in turn, affects the they to work together to plan, implement and solve problems, so as to achieve the goal of improving enterprise performance. Practical implications The shared resources and value co-creation activities in the platform ecological circle are very important for the transformation and development of cold chain logistics enterprises. Therefore, enterprises should promote value co-creation through realizing resource sharing and creating a win-win cooperation mechanism. Originality/value This paper targets at incorporating the resource sharing in platform ecological circle for cold chain logistics enterprises, explores from an empirical perspective the role of the resource sharing in cold chain logistics enterprises in enhancing the dynamic capabilities of enterprises, thereby encouraging the value co-creation behavior, and ultimately boosts enterprise performance and stimulates business development.

scholarly journals Forecasting the Volatility of Crude Oil: The Role of Uncertainty and Spillovers

Energies ◽  
2021 ◽  
Vol 14 (14) ◽  
pp. 4173
Author(s):  
Rangan Gupta ◽  
Christian Pierdzioch
Keyword(s):  
Crude Oil ◽  
Predictive Value ◽  
Realized Variance ◽  
International Spillovers ◽  
Forecasting Models ◽  
West Texas ◽  
Out Of Sample ◽  
One Year ◽  
Lasso Estimator

We use a dataset for the group of G7 countries and China to study the out-of-sample predictive value of uncertainty and its international spillovers for the realized variance of crude oil (West Texas Intermediate and Brent) over the sample period from 1996Q1 to 2020Q4. Using the Lasso estimator, we found evidence that uncertainty and international spillovers had predictive value for the realized variance at intermediate (two quarters) and long (one year) forecasting horizons in several of the forecasting models that we studied. This result holds also for upside (good) and downside (bad) variance, and irrespective of whether we used a recursive or a rolling estimation window. Our results have important implications for investors and policymakers.

Profitability of the Northern Sea Route for liquid bulk shipping under post 2020 sulphur regulations

2020 ◽  
Vol 31 (2) ◽  
pp. 313-332
Author(s):  
Tuomo Keltto ◽  
Su-Han Woo
Keyword(s):  
Spot Market ◽  
The Arctic ◽  
Future Research ◽  
Estimation Model ◽  
Content Type ◽  
Freight Rates ◽  
Northern Sea Route ◽  
Financial Perspective ◽  
The Baltic ◽  
Regulation Compliance

PurposeThe purpose of this study is to evaluate the profitability of the Northern Sea Route (NSR) as a shipping lane from the financial perspective of shipping companies under post 2020 sulphur regulations.Design/methodology/approachThis study develops profit estimation model, and the profitability of the NSR is assessed for a Handymax Medium Range (MR) tanker vessel using scenarios in combination with spot market earning levels, the regulation compliance method and destination ports. The required freight rates are calculated to justify the decision of shipowners to transit a tanker from the Baltic spot market to the NSR navigation.FindingsResults suggest that the required freight rates from the Arctic trade to justify the transit to the NSR are higher than the actual agreed rates in the past, which implies low viability of the NSR as a regular shipping lane. It was also found that the required freight rates are affected by the spot market earning levels, compliance method and duration of the voyage.Research limitations/implicationsThis study takes a new approach on assessing the NSR viability by comprehensively assessing the annual profitability and including the spot market trade as an opportunity cost for the NSR shipping. Despite various scenarios used in this study, a sensitivity analysis would be useful for future research.Practical implicationsThis study suggests how much freight rates a shipping company would need to charge if it were to offer tanker shipping services to four major Asian ports while simultaneously operating at the Baltic Sea during the remainder of the year.Originality/valueThis study adopts a market-oriented approach by incorporating both earnings and costs (including opportunity costs) in the profitability model rather than merely analyzing the total cost of shipping via the NSR. This study also analyzes impact of IMO 2020 Sulphur regulation on the NSR profitability.

Changes in commitment to change among leaders in home help services

2015 ◽  
Vol 28 (3) ◽  
pp. 216-227 ◽  
Author(s):  
Kristina Westerberg ◽  
Susanne Tafvelin
Keyword(s):  
Organizational Change ◽  
Structured Interviews ◽  
Change Initiatives ◽  
Commitment To Change ◽  
Content Type ◽  
Team Meetings ◽  
Home Help ◽  
Home Help Services ◽  
One Year ◽  
Over Time

Purpose – The purpose of the this study was to explore the development of commitment to change among leaders in the home help services during organizational change and to study this development in relation to workload and stress. During organizational change initiatives, commitment to change among leaders is important to ensure the implementation of the change. However, little is known of development of commitment of change over time. Design/methodology/approach – The study used a qualitative design with semi-structured interviews with ten leaders by the time an organizational change initiative was launched and follow-up one year later. Thematic content analysis was used to analyze the interviews. Findings – Commitment to change is not static, but seems to develop over time and during organizational change. At the first interview, leaders had a varied pattern reflecting different dimensions of commitment to change. One year later, the differences between leaders’ commitment to change was less obvious. Differences in commitment to change had no apparent relationship with workload or stress. Research limitations/implications – The data were collected from one organization, and the number of participants were small which could affect the results on workload and stress in relation to commitment to change. Practical implications – It is important to support leaders during organizational change initiatives to maintain their commitment. One way to accomplish this is to use management team meetings to monitor how leaders perceive their situation. Originality/value – Qualitative, longitudinal and leader studies on commitment to change are all unusual, and taken together, this study shows new aspects of commitment.

Assessing emphasis gaps among MBA alumni: a model framework

2016 ◽  
Vol 9 (1) ◽  
pp. 31-51
Author(s):  
Stuart Van Auken ◽  
Earl Chrysler ◽  
Ludmilla Gricenko Wells
Keyword(s):  
Methodological Approach ◽  
A Priori ◽  
Dimensional Structure ◽  
Assessment Procedure ◽  
Model Framework ◽  
Mba Programs ◽  
Content Type ◽  
Program Delivery ◽  
Mba Program ◽  
One Year

Purpose This paper aims to focus on Master of Business Administration (MBA) alumni and their ability to provide institution-specific insights into MBA program delivery. Given desired MBA positioning dimensions, a case exemplar is used to reveal gaps between “should have” program emphases and “actual” emphases. Departures from expectations are used to reveal either under- or over-emphases which require repair. Design/methodology/approach The study develops a gap assessment procedure and the theory of gaps, and it presents insights into the prioritization of gaps for closing through the revelation of gap themes of varying magnitude. It also reveals the benefits and the limitations of emphasis-based gap assessments. Additionally, the study addresses the complexity of creating the dimensional structure for MBA program gap revelation. Findings This paper reports on the issues of framing dimensions, including the possibility of dimensional omissions, with a particular emphasis on the utilization of an emphasis-based gap model within an a priori identified structure. Practical implications The methodological approach provides a blueprint for additional program review, and it produces a strong structural base for MBA program positioning. It is also is particularly important in evaluating newly created one-year MBA programs. Originality/value The work reveals the potential for the revelation of both under- and over-emphases in MBA program delivery and the possible issue of sub-optimization in gap closing (i.e. the closing of one gap while opening another).

Predicting recidivism for offenders in UK substance dependence treatment: do mental health symptoms matter?

2014 ◽  
Vol 4 (2) ◽  
pp. 102-115 ◽  
Author(s):  
Josefien J.F. Breedvelt ◽  
Lucy V. Dean ◽  
Gail Y. Jones ◽  
Caroline Cole ◽  
Hattie C.A. Moyes
Keyword(s):  
Mental Health ◽  
Risk Factors ◽  
Substance Dependence ◽  
Mental Health Symptoms ◽  
Health Symptoms ◽  
Content Type ◽  
Health Factors ◽  
Substance Dependence Treatment ◽  
One Year ◽  
Mental Health Factors

Purpose – The purpose of this paper is to assess whether mental health symptoms affect one-year reoffending rates upon release from prison for participants engaging in substance dependence treatment in the UK. Design/methodology/approach – A retrospective cohort study was used to assess reconviction outcomes upon release. The Comprehensive Addiction and Psychological Evaluation (CAAPE) was administered to 667 inmates admitted to the programme. The effect of mental health, drug use, and static risk factors on reoffending was assessed at one-year post release. Findings – Logistic regression analysis showed that symptoms of Major Depressive Disorder at the start of substance dependence treatment increased the likelihood to reoffend, whilst Obsessive Compulsive Disorder symptoms and length of sentence decreased the likelihood to reoffend. Antisocial Personality Disorder symptoms show a trend towards increasing the likelihood to reoffend. In addition, previously established risk factors for reoffending, including dependence on heroin, crack/cocaine, and poly drug use significantly increased the likelihood of reconviction. Practical implications – Depressive symptomatology pre-treatment could affect reoffending outcomes for participants in substance dependence treatment in prison. An integrative approach addressing both substance misuse and mental health factors is pivotal. Future efforts to address both simultaneously can be made to improve assessment, training, treatment, and through care for prisoners in substance dependence treatment. Originality/value – Few studies have assessed the effect of mental health factors on reoffending outcomes for offenders in substance dependence treatment. A large sample was studied in an understudied population of UK prisoners in substance dependence treatment. The results have implications for clinical settings where mental health symptoms are not addressed concurrently with substance dependence. This finding can inform policy makers and practitioners who provide substance dependence treatment in prison.

Hygrothermal analysis of historic buildings

2016 ◽  
Vol 34 (1) ◽  
pp. 12-23 ◽  
Author(s):  
Hugo Entradas Silva ◽  
Fernando M.A. Henriques
Keyword(s):  
Historic Buildings ◽  
Biological Degradation ◽  
Conservation Area ◽  
Content Type ◽  
Preventive Conservation ◽  
Climate Targets ◽  
One Year ◽  
Hygrothermal Analysis ◽  
Practical Implications ◽  
Temperate Climates

Purpose – The purpose of this paper is to verify the applicability and efficiency of two statistical methods to obtain sustainable targets of temperature and relative humidity in historic buildings located in temperate climates. Design/methodology/approach – The data recorded along one year in a non-heated historic building in Lisbon (Portugal) was analysed with the two methodologies, EN 15757 and FCT-UNL. To evaluate their adequacy it was calculated the performance index for each target and it was verified the mechanical and biological degradation risks. Findings – While the use of the two approaches is suitable for temperate climates, there is a higher efficiency of the FCT-UNL methodology, allowing a better response for the three parameters in evaluation. Research limitations/implications – Despite the better results obtained, the FCT-UNL methodology was only tested for one city; therefore the application to other situations may be required to obtain more robust conclusions. Practical implications – The effectiveness of the FCT-UNL methodology to obtain sustainable climate targets can lead to important energy conservation in historic buildings and to contribute for the change of old approaches in the preventive conservation area. Originality/value – This paper provides a comparison between two recent methods. The results can lead to some advances in the science of preventive conservation, interesting to conservators and building physic scientists.

Cultural influence on brand loyalty of rural consumers in the Indian context

2017 ◽  
Vol 11 (1) ◽  
pp. 60-72 ◽  
Author(s):  
Rashmi Ranjan Parida ◽  
Sangeeta Sahney
Keyword(s):  
Brand Loyalty ◽  
Influencing Factor ◽  
Cultural Factors ◽  
Business Organizations ◽  
Market Strategy ◽  
Content Type ◽  
Four Dimensions ◽  
Rural Market ◽  
Rural Consumers ◽  
The Impact

Purpose The purpose of the study is to develop a scale to identify and measure cultural factors and brand loyalty among rural consumers. The study also seeks to analyze the impact of identified cultural factors on the overall brand loyalty of rural consumers. Design/methodology/approach A questionnaire was developed to measure cultural factors and brand loyalty of rural consumers. Exploratory factor analysis was carried out to identify cultural factors, and a regression analysis was carried out to study the impact of the identified factors on brand loyalty. Findings Four dimensions of culture were identified from the study, i.e. virtuousness, religion, sociability and ethnocentrism. The analysis reveals that virtuousness is the most influencing factor on brand loyalty of rural consumers, followed by sociability and religion. Ethnocentrism was found to have insignificant influence on brand loyalty. Research limitations/implications The Indian rural market is a market of opportunity and unlimited business potential. An understanding of the cultural factors of rural markets and their influence on brand loyalty would help marketers and business organizations build an appropriate market strategy to explore benefits. Originality/value The paper attempts to explore the influence of certain cultural factors on the brand loyalty of Indian rural consumers, which has not been researched extensively. This provides a good insight for all marketers who want to succeed in this market.

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