Speculation and risk management in the shipping industry : theory and practice

2009

Masteroppgave i økonomi og administrasjon - Universitetet i Agder 2009 This thesis investigates speculation and risk management in the shipping industry in general represented by the use of a case study consisting of two dry bulk shipping companies. In addition, it focuses on the impact of the financial crisis on the dry bulk shipping industry. Shipping is one of the world’s most international and capital intensive industries, and has since the very beginning been characterised by cyclicality, seasonality and volatility. Volatility in general and the recent dry bulk collapse suggest that shipping is a high-risk industry in which risk management is rather important in order to avoid instabil…