Analysis of freight rate volatility characteristics is a hot topic after year 2008 due to the effect of financial crisis in marine transportation.In this paper,we analyze the bulk freight rate index by detrended fluct...Analysis of freight rate volatility characteristics is a hot topic after year 2008 due to the effect of financial crisis in marine transportation.In this paper,we analyze the bulk freight rate index by detrended fluctuation analysis(DFA) method and discover the scaling behavior.Switching points(SPs),as the indicators of scaling behavior,can be eliminated after Vondr′ak noise reduction technique.Therefore,we conclude that highfrequency noise is the cause of SP.展开更多
The use of econometric methods to analyze the relationship between our country steel price index and the international iron ore freight rate,time series stationarity test,cointegration test,Granger test of causality a...The use of econometric methods to analyze the relationship between our country steel price index and the international iron ore freight rate,time series stationarity test,cointegration test,Granger test of causality and model parameter estimation tools use,find that there is Granger causality between our country steel price index and the international iron ore freight rate,China' s steel price fluctuations to some extent affect the international iron ore freight.展开更多
International shipping market is a risky market associated with a variety of risks which shipping companies have to cope with. International shipping has been seriously hit by the financial crisis in 2008. Since then,...International shipping market is a risky market associated with a variety of risks which shipping companies have to cope with. International shipping has been seriously hit by the financial crisis in 2008. Since then, this industry has experienced market downturn for a long period which was considered to be the longest period of depression in the history. This paper mainly focuses on the key market risks in international shipping including cyclical fluctuation risk, cost risk, freight rate volatility risk, and competition risk. It analyses the source of these market risks, and identifies some strategies to cope with these market risks. In the meantime, Maersk and China Ocean Shipping Group （COSCO）, the world leading international shipping companies, are taken as two cases. Their strategies in market risk management are analyzed, which enable the reader to learn from their success and failure. Based on the international experience in market risk management in shipping industry as well as the real practice of Maersk and COSCO, this paper provides useful guidance for shipping companies to reduce market risks, overcome market downturn, and improve competitiveness.展开更多
Using Louisiana’s Interstate system, this paper aims to demonstrate how data can be used to evaluate freight movement reliability, economy, and safety of truck freight operations to improve decision-making. Data main...Using Louisiana’s Interstate system, this paper aims to demonstrate how data can be used to evaluate freight movement reliability, economy, and safety of truck freight operations to improve decision-making. Data mainly from the National Performance Management Research Data Set (NPMRDS) and the Louisiana Crash Database were used to analyze Truck Travel Time Reliability Index, commercial vehicle User Delay Costs, and commercial vehicle safety. The results indicate that while Louisiana’s Interstate system remained reliable over the years, some segments were found to be unreliable, which were annually less than 12% of the state’s Interstate system mileage. The User Delay Costs by commercial vehicles on these unreliable segments were, on average, 65.45% of the User Delay Cost by all vehicles on the Interstate highway system between 2016 and 2019, 53.10% between 2020 and 2021, and 70.36% in 2022, which are considerably high. These disproportionate ratios indicate the economic impact of the unreliability of the Interstate system on commercial vehicle operations. Additionally, though the annual crash frequencies remained relatively constant, an increasing proportion of commercial vehicles are involved in crashes, with segments (mileposts) that have high crash frequencies seeming to correspond with locations with recurring congestion on the Interstate highway system. The study highlights the potential of using data to identify areas that need improvement in transportation systems to support better decision-making.展开更多
基金the MOE(Ministry of Education in China)Project of Humanities and Social Sciences(Nos.12YJCGJW001 and 14YJC630008)the Interdiscipline Foundation of Social Science and Engineering of Shanghai Jiao Tong University(No.15JCMY11)+2 种基金the Fund of Center for Teaching and Learning Development of Shanghai Jiao Tong University(No.CTLD16B3002)the National Students Innovation Program of China(Nos.201610248001 and IPP12002)the National Natural Science Foundation of China(No.51409157)
文摘Analysis of freight rate volatility characteristics is a hot topic after year 2008 due to the effect of financial crisis in marine transportation.In this paper,we analyze the bulk freight rate index by detrended fluctuation analysis(DFA) method and discover the scaling behavior.Switching points(SPs),as the indicators of scaling behavior,can be eliminated after Vondr′ak noise reduction technique.Therefore,we conclude that highfrequency noise is the cause of SP.
文摘The use of econometric methods to analyze the relationship between our country steel price index and the international iron ore freight rate,time series stationarity test,cointegration test,Granger test of causality and model parameter estimation tools use,find that there is Granger causality between our country steel price index and the international iron ore freight rate,China' s steel price fluctuations to some extent affect the international iron ore freight.
文摘International shipping market is a risky market associated with a variety of risks which shipping companies have to cope with. International shipping has been seriously hit by the financial crisis in 2008. Since then, this industry has experienced market downturn for a long period which was considered to be the longest period of depression in the history. This paper mainly focuses on the key market risks in international shipping including cyclical fluctuation risk, cost risk, freight rate volatility risk, and competition risk. It analyses the source of these market risks, and identifies some strategies to cope with these market risks. In the meantime, Maersk and China Ocean Shipping Group （COSCO）, the world leading international shipping companies, are taken as two cases. Their strategies in market risk management are analyzed, which enable the reader to learn from their success and failure. Based on the international experience in market risk management in shipping industry as well as the real practice of Maersk and COSCO, this paper provides useful guidance for shipping companies to reduce market risks, overcome market downturn, and improve competitiveness.
文摘Using Louisiana’s Interstate system, this paper aims to demonstrate how data can be used to evaluate freight movement reliability, economy, and safety of truck freight operations to improve decision-making. Data mainly from the National Performance Management Research Data Set (NPMRDS) and the Louisiana Crash Database were used to analyze Truck Travel Time Reliability Index, commercial vehicle User Delay Costs, and commercial vehicle safety. The results indicate that while Louisiana’s Interstate system remained reliable over the years, some segments were found to be unreliable, which were annually less than 12% of the state’s Interstate system mileage. The User Delay Costs by commercial vehicles on these unreliable segments were, on average, 65.45% of the User Delay Cost by all vehicles on the Interstate highway system between 2016 and 2019, 53.10% between 2020 and 2021, and 70.36% in 2022, which are considerably high. These disproportionate ratios indicate the economic impact of the unreliability of the Interstate system on commercial vehicle operations. Additionally, though the annual crash frequencies remained relatively constant, an increasing proportion of commercial vehicles are involved in crashes, with segments (mileposts) that have high crash frequencies seeming to correspond with locations with recurring congestion on the Interstate highway system. The study highlights the potential of using data to identify areas that need improvement in transportation systems to support better decision-making.
