Browsing NHH Brage by Author "Ådland, Roar Os"
Now showing items 21-40 of 50
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The fuel consumption effect of prolonged port stays
Jøssund, Hans-Jørgen; Johnsen, Silje Helene (Master thesis, 2022)Optimizing fuel efficiency on marine vessels reduces both the fuel cost and the emission of greenhouse gasses. One way of optimizing fuel efficiency is through periodical hull treatments due to hull deterioration and ... -
Has IMO 2020 changed bulk shipping? An empirical study on how vessel speeds, trading patterns, charter types and freight rates for individual fixtures have been affected by IMO 2020
Bustgaard, Marius; Snekkenes, Michael Edward (Master thesis, 2021)This thesis examines how the IMO 2020 low-sulphur regulation has affected drybulk shipping. Firstly, we examine which routes scrubber vessels sail compared to what maritime economic theory would suggest. Secondly, we ... -
Hedging ship price risk using freight derivatives in the drybulk market
Ådland, Roar Os; Ameln, Haakon; Børnes, Eirik A. (Journal article; Peer reviewed, 2019)We show that a fixed-maturity time-weighted Forward Freight Agreement (FFA) portfolio should be used to proxy the expected future earnings of a vessel. We investigate the corresponding hedging efficiency when using a ... -
How do microeconomic determinants constitute the freight rate of individual contracts in the VLCC spot market?
Nguyen, Phuong Thi My; Pham, Oanh Thi Hoang (Master thesis, 2020)In this paper, we build a hedonic price model to explain the variation in freight rates in individual contracts using microeconomic data of the VLCC market. Using XGBoost and SHAP values to investigate the importance and ... -
Impact of hull cleaning and crew performance on bunker consumption: Classification and optimization of underwater hull cleaning intervals under data uncertainty
Wik, Magnus Halvorsen; Ånensen, Didrik Sverdrup (Master thesis, 2021)This thesis investigates the impact of underwater hull cleaning and crew performance on bunker consumption using noon reports. Biofouling imposes increased resistance on oceangoing vessels over time, and hull cleanings ... -
The influence of trading performance and fleet allocation on tanker earnings : an empirical study of differences in quarterly reported average vessel earnings for publicly listed tanker companies in terms of fixing skill and fleet allocation
Engen, Tord Aaland (Master thesis, 2021)This study considers the time charter equivalent (TCE) earnings reported by publicly listed crude oil tanker companies and multiple data sources to assess shipowner’s degree of skill in timing and positioning of vessel ... -
Is the Baltic Dry Index System ready for an upgrade? : a study of freight market indices
Moen, Henrik Kleven; Ullereng, Magnus (Master thesis, 2019)We examine the shipping industry’s need and interest in changing the way that freight market indices are made. Our research is conducted due to recent changes in the shipping industry, with more competition entering the ... -
Machine learning as a decision support system in capesize route optimization : predicting optimal route selection using recurrent neural networks and extreme gradient boosting
Bomholt, Herman Johan; Thune, Torsten Stangeland (Master thesis, 2020)In this thesis, we investigate the applicability of machine learning to predict optimal route decisions for Capesize vessels. Our approach uses windows of historical macroeconomic and market-specific variables to form a ... -
Multivariate modeling and analysis of regional ocean freight rates
Ådland, Roar Os; Benth, Fred Espen; Koekebakker, Steen (Peer reviewed; Journal article, 2017)In this paper, we propose a new multivariate model for the dynamics of regional ocean freight rates. We show that a cointegrated system of regional spot freight rates can be decomposed into a common non-stationary market ... -
A non-parametric model of the timecharter-equivalent spot freight rate in the very large crude oil carrier market
Ådland, Roar Os (Working paper, Working paper, 2000-01)The empirical research in this paper uses non-parametric techniques to avoid arbitrary parametric restrictions on the underlying freight rate process. The relevant hypotheses include: mean reverting freight rates in the ... -
Obtaining contracts in the North Sea OSV market : a vessel based logit model
Tvedte, Morten Vik; Sterud, Alexander (Master thesis, 2016)This thesis studies the determinants for obtaining contracts in the North Sea offshore supply market from 2007 to 2016. We specify a logistic regression model to investigate the effect of vessel specifications on the ... -
Offshore service vessel contribution to the air pollution in a port city : estimation of aggregate emissions for the Port of Bergen
Hawryłko, Izabela (Master thesis, 2017)The main subject of this thesis are emissions released by an offshore fleet visiting the Port of Bergen. In its first part, a problem of shipping-related pollution is introduced. It includes a description of main emission ... -
Portfolio optimization of chartering contracts : An empirical study of the chartering policies for Western Bulk Chartering ASA in the period from 2016 to 2022
Dalgaard, Magnus Klund; Skjævestad, Øyvind (Master thesis, 2023)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 ... -
Price Premiums in the Shipbuilding Market : A study of determinants for bulker, tanker and container segments in the 1990-2014 period
Norland, Kristian; Sætrevik, Even (Master thesis, 2016-09-01)In this thesis we investigate whether a number of variables specific to a vessel, the contracting parties, or market conditions affect the price charged for the ship. Literature in maritime economics seems to suggest ... -
Retrofit solutions for energy efficiency in shipping : a study of effects, cost-efficiencies, implementation rates and barriers
Mathiesen, Jørgen Fie Padøy (Master thesis, 2020)This thesis has a purpose which is twofold. Firstly, several retrofit fuel reduction measures used in the shipping industry are examined. The goal is to compare the actual effects of the measures with the estimated effects ... -
Revenue determinants in the offshore support vessel market : a study of North Sea fixtures
Wiig, Asmund; Tvedte, Marius Vik (Master thesis, 2017)The purpose of this thesis is to investigate the vessel-specific determinants of commercial success, measured by vessel revenue, in the North Sea Offshore Support Vessels (OSV) market. By studying the characteristics and ... -
Scanning the horizon : forecasting and trading on forward freight agreements using long short-term memory neural networks and AIS-derived features
Farbrot, Herman; Kalvik, Sindre (Master thesis, 2019)The purpose of this study has been to predict Forward Freight Agreement (FFA) prices using machine learning techniques, investigate the additional forecasting power of Automatic Identification System (AIS) derived features, ... -
Second-hand vessel valuation : a generalized additive model and extreme gradient boosting approach
Harvei, Hans Christian Olsen; Jørgensen, Julius (Master thesis, 2019)This thesis investigates the applicability of extreme gradient boosting (XGBoost) compared to the generalized additive model (GAM) approach to create a desktop valuation model of second-hand Handysize bulkers. The data ... -
Short term analysis of lead time movements in dry bulk shipping A linear approach to explore the relationship between lead time and other order-specific determinants of historical voyage orders.
Botnen, Frida Austarå; Lam, Helena Ha-Anh (Master thesis, 2021)This thesis investigates explanatory factors on a microeconomic level that affect lead time movements in the short term. We utilize historical voyage orders from January 2015 to April 2021 to analyze the relationship ... -
Simulating physical basis risks in the Capesize freight market
Ådland, Roar Os; Jia, Haiying (Peer reviewed; Journal article, 2017)The purpose of this paper is to evaluate the characteristics of the time-varying differential between the Baltic global trip-charter average and simulated earnings from a fleet of Capesize vessels. We interpret the standard ...