IDEAS home Printed from https://ideas.repec.org/a/taf/marpmg/v44y2017i7p815-824.html
   My bibliography  Save this article

Calculation of the freight revenues in Turkey-focused maritime transportation

Author

Listed:
  • Sercan Erol

Abstract

The Central Bank of the Turkish Republic (TCMB) in Turkey has announced the data of freight revenues. The data that have been announced depends on the information obtained from the port customs and compiled by the Turkish Statistical Institute (TUIK). Because of the distinctive structure of the freight market, certain requisite generalizations and projections are used for data calculation. Accordingly, calculations that depend on generalizations and predictions are likely to weaken the effectiveness of the decisions already made or going to be made. The aim of this study is to calculate more realistically the real freight revenues of ships that have carried out loading or discharging operations in Turkish ports. In accordance with this purpose, the volume of freight revenues and their distribution between Turkish and foreign flagged ships is calculated. A Microsoft SQL-based algorithm is developed in order to do the calculation. Within the scope of the study, the total fright revenue of Turkey-oriented shipping industry is calculated to be USD 5.8 billion. Proportionately, 79.53% of the revenue belongs to foreign flagged ships, 12.70% of it belongs to foreign flagged ships with Turkish owners, and only 7.78% of it belongs to Turkish flagged ships.

Suggested Citation

  • Sercan Erol, 2017. "Calculation of the freight revenues in Turkey-focused maritime transportation," Maritime Policy & Management, Taylor & Francis Journals, vol. 44(7), pages 815-824, October.
    • Handle: RePEc:taf:marpmg:v:44:y:2017:i:7:p:815-824
    DOI: 10.1080/03088839.2017.1333167
    as

    Download full text from publisher

    File URL: http://hdl.handle.net/10.1080/03088839.2017.1333167
    Download Restriction: Access to full text is restricted to subscribers.
    File URL: https://libkey.io/10.1080/03088839.2017.1333167?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. Dung-Ying Lin & Chien-Chih Huang & ManWo Ng, 2017. "The coopetition game in international liner shipping," Maritime Policy & Management, Taylor & Francis Journals, vol. 44(4), pages 474-495, May.
    2. Roar Adland & Fredrik Bjerknes & Christian Herje, 2017. "Spatial efficiency in the bulk freight market," Maritime Policy & Management, Taylor & Francis Journals, vol. 44(4), pages 413-425, May.
    3. Stephen X. Gong & Heng-Qing Ye & Yvonne Yiyi Zeng, 2013. "Impacts of the recent financial crisis on ship financing in Hong Kong: a research note," Maritime Policy & Management, Taylor & Francis Journals, vol. 40(1), pages 1-9, January.
    4. Albert W. Veenstra, 1999. "The term structure of ocean freight rates," Maritime Policy & Management, Taylor & Francis Journals, vol. 26(3), pages 279-293.
    5. Koekebakker, Steen & Adland, Roar & Sødal, Sigbjørn, 2007. "Pricing freight rate options," Transportation Research Part E: Logistics and Transportation Review, Elsevier, vol. 43(5), pages 535-548, September.
    6. Shin-Chan Ting * & Gwo-Hshiung Tzeng, 2004. "An optimal containership slot allocation for liner shipping revenue management," Maritime Policy & Management, Taylor & Francis Journals, vol. 31(3), pages 199-211, July.
    7. North, Douglass, 1958. "Ocean Freight Rates and Economic Development 1730-1913," The Journal of Economic History, Cambridge University Press, vol. 18(4), pages 537-555, December.
    8. Jostein Tvedt, 2003. "Shipping market models and the specification of freight rate processes," Maritime Economics & Logistics, Palgrave Macmillan;International Association of Maritime Economists (IAME), vol. 5(4), pages 327-346, December.
    9. Alexandros M. Goulielmos & Mariniki Psifia, 2006. "Shipping finance: time to follow a new track?," Maritime Policy & Management, Taylor & Francis Journals, vol. 33(3), pages 301-320, July.
    10. Javier Poblacion, 2015. "The stochastic seasonal behavior of freight rate dynamics," Maritime Economics & Logistics, Palgrave Macmillan;International Association of Maritime Economists (IAME), vol. 17(2), pages 142-162, June.
    11. Michael J. Maloni & David M. Gligor & Ioannis N. Lagoudis, 2016. "Linking ocean container carrier capabilities to shipper–carrier relationships: a case study," Maritime Policy & Management, Taylor & Francis Journals, vol. 43(8), pages 959-975, November.
    12. Ahmed A. El-Masry & Mojisola Olugbode & John Pointon, 2010. "The exposure of shipping firms’ stock returns to financial risks and oil prices: a global perspective," Maritime Policy & Management, Taylor & Francis Journals, vol. 37(5), pages 453-473, April.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Alexandridis, George & Kavussanos, Manolis G. & Kim, Chi Y. & Tsouknidis, Dimitris A. & Visvikis, Ilias D., 2018. "A survey of shipping finance research: Setting the future research agenda," Transportation Research Part E: Logistics and Transportation Review, Elsevier, vol. 115(C), pages 164-212.
    2. Tezuka, Koichiro & Ishii, Masahiro & Ishizaka, Motokazu, 2012. "An equilibrium price model of spot and forward shipping freight markets," Transportation Research Part E: Logistics and Transportation Review, Elsevier, vol. 48(4), pages 730-742.
    3. Wang, Jian & Zhu, Wenbo, 2023. "Analyzing the development of competition and cooperation among ocean carriers considering the impact of carbon tax policy," Transportation Research Part E: Logistics and Transportation Review, Elsevier, vol. 175(C).
    4. Roar Adland & David Hansson & Levin von der Wense, 2017. "Valuing cargo flexibility in oil transportation," Maritime Policy & Management, Taylor & Francis Journals, vol. 44(7), pages 803-814, October.
    5. Okan Duru, 2017. "The Origin and Consistency of the Ton–Mile Metric in the Shipping Economics," Logistics, MDPI, vol. 1(1), pages 1-8, February.
    6. Fred Espen Benth & Steen Koekebakker, 2016. "Stochastic modeling of Supramax spot and forward freight rates," Maritime Economics & Logistics, Palgrave Macmillan;International Association of Maritime Economists (IAME), vol. 18(4), pages 391-413, December.
    7. Adland, Roar & Prochazka, Vit, 2021. "The value of timecharter optionality in the drybulk market," Transportation Research Part E: Logistics and Transportation Review, Elsevier, vol. 145(C).
    8. Rau, Philipp & Spinler, Stefan, 2016. "Investment into container shipping capacity: A real options approach in oligopolistic competition," Transportation Research Part E: Logistics and Transportation Review, Elsevier, vol. 93(C), pages 130-147.
    9. Agata Lozinskaia & Andreas Merikas & Anna Merika & Henry Penikas, 2017. "Determinants of the probability of default: the case of the internationally listed shipping corporations," Maritime Policy & Management, Taylor & Francis Journals, vol. 44(7), pages 837-858, October.
    10. Yu, Fangping & Xiang, Zhiyuan & Wang, Xuanhe & Yang, Mo & Kuang, Haibo, 2023. "An innovative tool for cost control under fragmented scenarios: The container freight index microinsurance," Transportation Research Part E: Logistics and Transportation Review, Elsevier, vol. 169(C).
    11. Jeffrey D. Sachs & Xiaokai Yang & Dingsheng Zhang, 1999. "Trade Pattern and Economic Development when Endogenous and Exogenous Comparative Advantages Coexist," CID Working Papers 03A, Center for International Development at Harvard University.
    12. Magirou, Evangelos F. & Psaraftis, Harilaos N. & Bouritas, Theodore, 2015. "The economic speed of an oceangoing vessel in a dynamic setting," Transportation Research Part B: Methodological, Elsevier, vol. 76(C), pages 48-67.
    13. Tasso Adamopoulos, 2011. "Transportation Costs, Agricultural Productivity, And Cross‐Country Income Differences," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 52(2), pages 489-521, May.
    14. Kevin X. Li & Tae-Joon Park & Paul Tae-Woo Lee & Heather McLaughlin & Wenming Shi, 2018. "Container Transport Network for Sustainable Development in South Korea," Sustainability, MDPI, vol. 10(10), pages 1-16, October.
    15. Wen Li Cheng & Jeffrey Sachs & Xiaokai Yang, 2005. "An Inframarginal Analysis Of The Ricardian Model," World Scientific Book Chapters, in: An Inframarginal Approach To Trade Theory, chapter 6, pages 87-107, World Scientific Publishing Co. Pte. Ltd..
    16. Giulia Brancaccio & Myrto Kalouptsidi & Theodore Papageorgiou, 2023. "The impact of oil prices on world trade," Review of International Economics, Wiley Blackwell, vol. 31(2), pages 444-463, May.
    17. Fajgelbaum, Pablo & Redding, Stephen, 2014. "External integration, structural transformation and economic development: evidence from Argentina," LSE Research Online Documents on Economics 60285, London School of Economics and Political Science, LSE Library.
    18. Pierre Van Der Eng, 2004. "Productivity and Comparative Advantage in Rice Agriculture in South‐East Asia Since 1870," Asian Economic Journal, East Asian Economic Association, vol. 18(4), pages 345-370, December.
    19. Alexandros M. Goulielmos, 2018. "“After End-2008 Structural Changes in Containership Market” and Their Impact on Industry’s Policy," IJFS, MDPI, vol. 6(4), pages 1-21, November.
    20. Mitroussi, K. & Abouarghoub, W. & Haider, J.J. & Pettit, S.J. & Tigka, N., 2016. "Performance drivers of shipping loans: An empirical investigation," International Journal of Production Economics, Elsevier, vol. 171(P3), pages 438-452.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:taf:marpmg:v:44:y:2017:i:7:p:815-824. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Chris Longhurst (email available below). General contact details of provider: http://www.tandfonline.com/TMPM20 .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.