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| Tekijä: | Kavussanons, M.G. Alizadeh-M, A.H. |
| Otsikko: | The expectations hypothesis of the term structure and risk premiums in dry bulk shipping freight markets |
| Lehti: | Journal of Transport, Economics and Policy
2002 : MAY, VOL. 36:2, p. 267-304 |
| Asiasana: | Expectations Freight transport Risk premium Shipping industry Term structure of interest rates |
| Kieli: | eng |
| Tiivistelmä: | The availability of shipping freight of shipping freight contracts with different duration offers shipowners, operators, and charterers the choice to trade risk and return according to the characteristics that each of these contracts offers on the utility frontier. The aim of this paper is to investigate the expectations hypothesis of the term structure in the formation of period rates, which requires long-term charter rates to be a function of a series of short-term contracts within the life of a long-term contract. |
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