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Title: The relative efficiency of shipping companies
Authors: Lambertides, Neophytos 
Panayides, Photis 
Savva, Christos S. 
Keywords: Transportation Research;Logistics;Shipping;Transportation Research;Logistics;Shipping
Category: Economics and Business
Field: Social Sciences
Issue Date: 2011
Publisher: Elsevier
Source: Transportation research part e: logistics and transportation review, 2011, Volume 47, Issue 5, Pages 681–694
Abstract: This paper contributes to the maritime transport literature by examining the relative efficiency of firms in the three key sectors of the shipping industry, i.e. dry, wet and container shipping. Two relative efficiency models are developed to assess relative market and relative operating performance efficiency. The theoretical framework of fundamental analysis is adopted to derive the inputs and outputs in the efficiency models which are assessed using data envelopment and stochastic frontier analysis. Shipping companies were found to exhibit average market efficiency. Market and operating performance efficiency of maritime firms is not consistent. Tanker companies are more market efficient whereas container shipping firms are found to have high operating performance efficiency but were market inefficient. Dry bulk firms were found to have the lowest ratings of market efficiency
ISSN: 1366-5545
Rights: © 2011 Elsevier Ltd
Type: Article
Appears in Collections:Άρθρα/Articles

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