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Modeling Freight Markets for Coal


  • Andersson, Jonas

    () (Dept. of Finance and Management Science, Norwegian School of Economics and Business Administration)

  • Jörnsten, Kurt

    () (Dept. of Finance and Management Science, Norwegian School of Economics and Business Administration)

  • Strandenes, Siri Pettersen

    () (Dept. of Economics, Norwegian School of Economics and Business Administration)

  • Ubøe, Jan

    () (Dept. of Finance and Management Science, Norwegian School of Economics and Business Administration)


In this paper we study bulk shipping of coal between the central regions in the world. We compare the performance of cost-minimizing models with a gravity model approach. The main finding in the paper is that cost minimizing models provide relative poor fits to data. A simple one parameter gravity model, however, provides very satisfactory fits to observed behaviour.

Suggested Citation

  • Andersson, Jonas & Jörnsten, Kurt & Strandenes, Siri Pettersen & Ubøe, Jan, 2009. "Modeling Freight Markets for Coal," Discussion Papers 2008/26, Norwegian School of Economics, Department of Business and Management Science.
  • Handle: RePEc:hhs:nhhfms:2008_026

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    References listed on IDEAS

    1. Daniel C. Knudsen & A. Stewart Fotheringham, 1986. "Matrix Comparison, Goodness-of-Fit, and Spatial Interaction Modeling," International Regional Science Review, , vol. 10(2), pages 127-147, August.
    2. Choi, E. Kwan & Harrigan, James, 2003. "Handbook of International Trade," Staff General Research Papers Archive 11375, Iowa State University, Department of Economics.
    3. Anas, Alex, 1983. "Discrete choice theory, information theory and the multinomial logit and gravity models," Transportation Research Part B: Methodological, Elsevier, vol. 17(1), pages 13-23, February.
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    Cited by:

    1. repec:pal:marecl:v:19:y:2017:i:4:d:10.1057_s41278-017-0075-7 is not listed on IDEAS
    2. Katarzyna Kopczewska, 2013. "Roads as Channels of Centrifugal Policy Transfer: A Spatial Interaction Model Revised," Contemporary Economics, University of Finance and Management in Warsaw, vol. 7(3), September.
    3. repec:pal:marecl:v:19:y:2017:i:2:d:10.1057_mel.2015.27 is not listed on IDEAS

    More about this item


    Bulk freight; cost efficiency; gravity modeling;

    JEL classification:

    • F10 - International Economics - - Trade - - - General
    • F17 - International Economics - - Trade - - - Trade Forecasting and Simulation
    • R41 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Transportation Economics - - - Transportation: Demand, Supply, and Congestion; Travel Time; Safety and Accidents; Transportation Noise

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