| dc.description.abstract | This thesis looks at how the shipping operator Western Bulk can structure their chartering
decisions through a portfolio approach. This entails looking at chartering contracts as single
investments, which are part of a universal investment set. Looking at the period 2016-2022
we seek to discover how an optimal portfolio can be constructed and how it compares with
the actual operations of Western Bulk.
Traditionally portfolio optimization has been common within securities and corporate
finance. However, its applications have been extended to a wide array of industries. Our
paper builds on this and implements this approach into bulk shipping. Through the
Markowitz model we investigate what constitutes an optimal portfolio in terms of contractand
geographical distribution. The optimal solution finds evidence for deviations to the
historic operational data of Western Bulk. These results and preceding calculations have not
been subjected to a full set of possible constraints. Thus, our findings do not provide a
complete realistic application to Western Bulk’s operations. | en_US |
