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dc.contributor.authorTuzcuoğlu, Tolga
dc.contributor.authorGençer, Hüseyin
dc.date.accessioned2024-12-06T15:40:05Z
dc.date.available2024-12-06T15:40:05Z
dc.date.issued2023en_US
dc.identifier.citationTuzcuoğlu, T., Gençer, H. (2023). A model on charter rate prediction in container shipping. International Journal of Environment and Geoinformatics, 10 (3), 77-85.en_US
dc.identifier.urihttps://search.trdizin.gov.tr/tr/yayin/detay/1269288/a-model-on-charter-rate-prediction-in-container-shipping
dc.identifier.urihttps://hdl.handle.net/20.500.12846/1455
dc.description.abstractThe maritime industry has witnessed numerous challenges in recent years after the global pandemic, primarily characterized by sharp fluctuations in the daily charter rates. Considering an unpredictable business environment, this study aims to suggest a financial forecasting model on charter rates, creating added value for the stakeholders of the maritime trade business. The empirical analysis utilized the data from the Clarksons Research Portal, which encompassed 7,409 charter rental transactions of container ships from 01.01.2018 to 10.03.2023. After examining seven different linear and ensemble regressions, it was revealed that the XGBoost regressor resulted in the least RMSE value of 0.1833 with an R2 of 0.9015. The selected predictors were the TEU, container fixture type, charter time, charter time multiplied by TEU, ship age, laycan year, and laycan month, respectively. In addition to coping with the limitations of linear regression, the model revealed that the laycan years, charter time, and charter time multiplied with TEU were the essential variables in charter rate prediction. As a result, the model developed in the study can be used as an important decision support tool for stakeholders in the container shipping industry.en_US
dc.language.isoengen_US
dc.relation.isversionof10.30897/ijegeo.1345053en_US
dc.rightsinfo:eu-repo/semantics/openAccessen_US
dc.subjectForecastingen_US
dc.subjectContainer shippingen_US
dc.subjectCharter marketen_US
dc.subjectEnsemble regressionen_US
dc.subjectShip financing strategyen_US
dc.titleA model on charter rate prediction in container shippingen_US
dc.typearticleen_US
dc.relation.journalInternational Journal of Environment and Geoinformaticsen_US
dc.identifier.volume10en_US
dc.identifier.issue3en_US
dc.relation.publicationcategoryMakale - Uluslararası Hakemli Dergi - Kurum Öğretim Elemanıen_US
dc.contributor.departmentTAÜ, İktisadi ve İdari Bilimler Fakültesi, İşletme Bölümüen_US
dc.identifier.startpage77en_US
dc.identifier.endpage85en_US


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