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Applying Analytic Hierarchy Process to Analyze the Key Influential Factors of Secondhand Bulk Vessel Purchases
|Contributors: ||NTOU:Department of Shipping and Transportation Management|
Secondhand vessels;Bulk carriers;Sale and purchase;Analytic hierarchy process
|Issue Date: ||2012-06-18T05:52:18Z
|Publisher: ||Journal of Maritime Science|
Abstract:It is hard to fulfill the short-term sharply rising demand of sea transport due to the time lag between the order and deliveries of the newbuilding vessels. Shipping corporations may increase their vessel tonnages by purchasing secondhand vessels to create revenues. In addition, the characteristics of secondhand vessels with time-consuming purchasing procedures, severe fluctuations of the price and the low market liquidity make shipping corporations difficult to get the right purchasing timing. Thus they highlight the importance of analyzing key factors of secondhand vessel purchases. The Analytic Hierarchy Process (AHP) was adopted to construct a hierarchical analyzing framework in terms of market, finance, vessels and brokers, and analyze the key influential factors of secondhand bulk vessel purchasing decisions from the perspectives of bulk shipping corporations. The outcomes demonstrated that "market forecast and price" plays the most crucial part in the decision-making of secondhand bulk vessel purchases. Aside from the group of risk averter and risk lover attached importance to "consideration for financial management" and "conditions and particulars of vessels" respectively, other groups of different ship tonnage scales or chartering operation types considered that "market forecast and price" is the most important factor when making the secondhand vessels purchase decision. The results can serve as a good strategic reference on secondhand vessel purchasing to dry bulk shipping corporations.
|Relation: ||20(1), pp.1-22|
|Appears in Collections:||[航運管理學系] 期刊論文|
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