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Title
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The impact of ship scrapping subsidies on fleet renewal decisions in dry bulk shipping
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Author
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Abstract
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| We introduce a novel dimension to the fleet renewal decisions of a shipping company, taking into account the effects of ship scrapping subsidies. The fleet renewal behavior of a company is analyzed with focus on early scrapping decisions prompted by the subsidy. We present a fleet renewal decision model which maximizes firm profit given market demand and the features of a scrapping subsidy. To assess the effects of a potential subsidy on corporate decisions, we compare the optimal fleet renewal schemes with and without the subsidy. We calculate the outcome of such a policy measure for China COSCO Shipping. |
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Language
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English
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Source (journal)
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Transportation research : part E : logistics and transportation review. - Exeter
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Publication
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Exeter
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2019
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ISSN
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1366-5545
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DOI
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10.1016/J.TRE.2019.04.008
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Volume/pages
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126
(2019)
, p. 177-189
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ISI
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000471741100010
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Full text (Publisher's DOI)
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Full text (publisher's version - intranet only)
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