Fathoming Shipping Costs : An Exploration of Recent Literature, Data, and Patterns

Recent academic research on maritime shipping has been affected by two factors: (i) changes in shipping technology and market structure and (ii) the explosion of new micro data sets in shipping and international trade. This paper describes this res...

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Main Authors:	Ardelean, Adina, Lugovskyy, Volodymyr, Skiba, Alexandre, Terner, David
Format:	Policy Research Working Paper
Language:	English
Published:	World Bank, Washington, DC 2022
Subjects:	TRANSPORT SHIPPING RATES COST OF TRANSPORTATION MARITIME FREIGHT MARKETS MARITIME SHIPPING
Online Access:	http://documents.worldbank.org/curated/en/099436104042241280/IDU0c20d2ae90046304ca009ab508217e50747bd http://hdl.handle.net/10986/37276

id	okr-10986-37276
recordtype	oai_dc
spelling	okr-10986-372762022-05-20T19:08:44Z Fathoming Shipping Costs : An Exploration of Recent Literature, Data, and Patterns Ardelean, Adina Lugovskyy, Volodymyr Skiba, Alexandre Terner, David TRANSPORT SHIPPING RATES COST OF TRANSPORTATION MARITIME FREIGHT MARKETS MARITIME SHIPPING Recent academic research on maritime shipping has been affected by two factors: (i) changes in shipping technology and market structure and (ii) the explosion of new micro data sets in shipping and international trade. This paper describes this research, focusing on containerized and dry-bulk shipping and emphasizing recent trends and determinants of freight rates. The findings are presented in a systematic set of stylized facts. Some of the important and perhaps underappreciated insights include discussion of the scale effects of utilizing fuel based on vessel size over different periods and comparison of different functional forms of transportation costs: per twenty-foot equivalent, per kilo, and ad-valorem. The paper also presents several novel empirical exercises to further the insights from the existing literature. It shows that the effect of sea distance on trade costs slowly “dies" over time, but its effect on seaborne trade volumes is both significant and persistent over time. Moreover, the paper documents the presence of substantial country- and product-level heterogeneity of the impact of sea distance on international maritime freight markets. 2022-04-07T18:34:23Z 2022-04-07T18:34:23Z 2022-04 http://documents.worldbank.org/curated/en/099436104042241280/IDU0c20d2ae90046304ca009ab508217e50747bd http://hdl.handle.net/10986/37276 English Policy Research Working Paper;9992 CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo World Bank World Bank, Washington, DC Policy Research Working Paper Publications & Research
repository_type	Digital Repository
institution_category	Foreign Institution
institution	Digital Repositories
building	World Bank Open Knowledge Repository
collection	World Bank
language	English
topic	TRANSPORT SHIPPING RATES COST OF TRANSPORTATION MARITIME FREIGHT MARKETS MARITIME SHIPPING
spellingShingle	TRANSPORT SHIPPING RATES COST OF TRANSPORTATION MARITIME FREIGHT MARKETS MARITIME SHIPPING Ardelean, Adina Lugovskyy, Volodymyr Skiba, Alexandre Terner, David Fathoming Shipping Costs : An Exploration of Recent Literature, Data, and Patterns
relation	Policy Research Working Paper;9992
description	Recent academic research on maritime shipping has been affected by two factors: (i) changes in shipping technology and market structure and (ii) the explosion of new micro data sets in shipping and international trade. This paper describes this research, focusing on containerized and dry-bulk shipping and emphasizing recent trends and determinants of freight rates. The findings are presented in a systematic set of stylized facts. Some of the important and perhaps underappreciated insights include discussion of the scale effects of utilizing fuel based on vessel size over different periods and comparison of different functional forms of transportation costs: per twenty-foot equivalent, per kilo, and ad-valorem. The paper also presents several novel empirical exercises to further the insights from the existing literature. It shows that the effect of sea distance on trade costs slowly “dies" over time, but its effect on seaborne trade volumes is both significant and persistent over time. Moreover, the paper documents the presence of substantial country- and product-level heterogeneity of the impact of sea distance on international maritime freight markets.
format	Policy Research Working Paper
author	Ardelean, Adina Lugovskyy, Volodymyr Skiba, Alexandre Terner, David
author_facet	Ardelean, Adina Lugovskyy, Volodymyr Skiba, Alexandre Terner, David
author_sort	Ardelean, Adina
title	Fathoming Shipping Costs : An Exploration of Recent Literature, Data, and Patterns
title_short	Fathoming Shipping Costs : An Exploration of Recent Literature, Data, and Patterns
title_full	Fathoming Shipping Costs : An Exploration of Recent Literature, Data, and Patterns
title_fullStr	Fathoming Shipping Costs : An Exploration of Recent Literature, Data, and Patterns
title_full_unstemmed	Fathoming Shipping Costs : An Exploration of Recent Literature, Data, and Patterns
title_sort	fathoming shipping costs : an exploration of recent literature, data, and patterns
publisher	World Bank, Washington, DC
publishDate	2022
url	http://documents.worldbank.org/curated/en/099436104042241280/IDU0c20d2ae90046304ca009ab508217e50747bd http://hdl.handle.net/10986/37276
_version_	1764486853109481472

Fathoming Shipping Costs : An Exploration of Recent Literature, Data, and Patterns

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