Please use this identifier to cite or link to this item: http://hdl.handle.net/10397/21907
Title: Lead-lag relationship between new-building and second-hand ship prices
Authors: Kou, Y
Liu, L
Luo, M 
Issue Date: 2014
Source: Maritime policy and management, 2014, v. 41, no. 4, p. 303-327
Abstract: We examine lead-lag relationships between new-building and second-hand ship prices. Our analysis shows the existence of a one-directional lead-lag relationship between two ship prices. The direction of lead-lag relationship is not affected by the time evolution and age of second-hand ships, but is affected by the division of shipping sector. Particularly, directions of ship price movements in dry bulk and tanker shipping sectors are opposite. We argue that the opposite directional lead-lag relationships are caused by the difference in competition levels and the difference in the purposes of trading in the two shipping sectors.
Publisher: Routledge, Taylor & Francis Group
Journal: Maritime policy and management 
ISSN: 0308-8839
EISSN: 1464-5254
DOI: 10.1080/03088839.2013.821209
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