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Second hand vessel value estimation in maritime economics: A review of the past 20 years and the proposal of an elementary method

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  • Jeroen Frederik Josef Pruyn

    (Delft University of Technology, Department of Ship Design, Production and Operations, Mekelweg 2, Delft, CD 2628, The Netherlands)

  • Eddy van de Voorde

    (Department of Transport and Regional Economics, University of Antwerp, Antwerp, Belgium)

  • Hilde Meersman

    (Department of Transport and Regional Economics, University of Antwerp, Antwerp, Belgium)

Abstract

The past 20 years (1991–2011) have brought us in total 11 papers on the pricing of second hand vessels. It is a subject not often investigated, but it is of importance when considering the capital costs of a vessel. It also reflects the topics generally researched by (maritime) econometrists at the time of publication. The first 10 years are dominated by testing for the Efficient Market Hypothesis. The current ideas focus on a micro-economic valuation of the vessel, incorporating particulars such as DWT, age, speed, horsepower, hull type and many others.

Suggested Citation

  • Jeroen Frederik Josef Pruyn & Eddy van de Voorde & Hilde Meersman, 2011. "Second hand vessel value estimation in maritime economics: A review of the past 20 years and the proposal of an elementary method," Maritime Economics & Logistics, Palgrave Macmillan;International Association of Maritime Economists (IAME), vol. 13(2), pages 213-236, June.
    • Handle: RePEc:pal:marecl:v:13:y:2011:i:2:p:213-236
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    Cited by:

    1. Alexandros M. Goulielmos, 2015. "The Multi-faceted Character of Risk in Maritime Freight Markets (Panamax) 1996-2012," SPOUDAI Journal of Economics and Business, SPOUDAI Journal of Economics and Business, University of Piraeus, vol. 65(1-2), pages 67-86, January-M.

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