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dc.contributor.authorÅdland, Roar Os
dc.contributor.authorProchazka, Vit
dc.date.accessioned2020-12-22T09:32:24Z
dc.date.available2020-12-22T09:32:24Z
dc.date.created2020-12-10T11:10:54Z
dc.date.issued2020
dc.identifier.citationTransportation Research Part E: Logistics and Transportation Review. 2020, 145 .en_US
dc.identifier.issn1366-5545
dc.identifier.urihttps://hdl.handle.net/11250/2720715
dc.description.abstractUsing an optimization model on a network with stochastic travel times we estimate the value of flexible worldwide redelivery compared to the more constrained Atlantic ocean option. We evaluate the value of the redelivery option for two types of ship operators: The “oracle operator” with full knowledge about the future and the “FFA operator” who bases his predictions about future freight rates on freight forward prices. Our numerical analysis suggests that the worldwide redelivery option can add around $500,000 to the cumulative profit from a 9 to 12 month timecharter for a mid-size bulk vessel. Our findings are important for the understanding of the value of optionality in chartering contracts.en_US
dc.language.isoengen_US
dc.rightsNavngivelse 4.0 Internasjonal*
dc.rights.urihttp://creativecommons.org/licenses/by/4.0/deed.no*
dc.subjectoptimizationen_US
dc.subjecttimecharteren_US
dc.subjectdry bulken_US
dc.subjectoptionalityen_US
dc.subjectspatial efficiencyen_US
dc.titleThe value of timecharter optionality in the drybulk marketen_US
dc.typePeer revieweden_US
dc.typeJournal articleen_US
dc.description.versionpublishedVersionen_US
dc.source.pagenumber15en_US
dc.source.volume145en_US
dc.source.journalTransportation Research Part E: Logistics and Transportation Reviewen_US
dc.identifier.doi10.1016/j.tre.2020.102185
dc.identifier.cristin1858226
cristin.ispublishedtrue
cristin.fulltextoriginal
cristin.qualitycode1


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