Transportation Research Part E: Logistics and Transportation Review
CALL FOR PAPERS for Special Section: “Finance, Investments and Risk Management in Maritime Transportation and the Impact of Digital Disruptions”
• 大类 : 工程技术 - 2区
• 小类 : 工程：土木 - 2区
• 小类 : 运筹学与管理科学 - 2区
• 小类 : 运输科技 - 3区
“Finance, Investments and Risk Management in Maritime Transportationand the Impact of Digital Disruptions”
The Special Section on “Finance, Investments and Risk Management in Maritime Transportation and the Impact of Digital Disruptions” will select papers presented at the 27thAnnual Conference of the International Association of Maritime Economists (IAME), Athens, Greece, June 25th– 28th, 2019 (https://www.dept.aueb.gr/en/iame2019).
Following the 2008 financial crisis and the collapse of the shipping market (both in freight rates and vessel values), banks have been partially reluctant to finance this global industry. As such, the industry had to find other ways and new markets in order to attract the much-needed capital to sustain and grow operations. In turn, alternative sources of ship finance, such as private and public equity & debt markets, ship leasing, export credit finance, sale & lease back, among others, have appeared to cover this financing gap. Moreover, risk management solutions for the minimization (hedging) of the excessive volatility of freight rates, vessel values, bunker fuel prices, foreign exchange rates, and interest rates have become a necessity in order for companies to stabilize their cash flows and to survive the downturn of the market. At the same time, there are several technological disruptions/developments (such as, Big Data analytics, Internet of Things (IoT), Artificial Intelligence (AI), Cybersecurity issues, Blockchain, and Autonomous Vessels, among others), and regulatory pressures (such as the Global Sulphur limits in 2020 and Ballast Water Treatment Convention of 2017), all affecting the financial performance and increasing the operating expenses of the market participants, and hence create a need for further capital.
In such an uncertain environment, a new business model is emerging for the international maritime transportation industry, where market players need to evolve and learn to react quickly to change and market disruptions, while at the same time transparent corporate structures, better corporate governance and the development of new financing sources and diversification of existing capital structures are factors for successful commercial operation (for a complete survey of existing maritime transportation finance and risk management literature see Alexandridiset al. 2018).
As such, the above commercial business developments and digital disruptions have all created a plethora of unanswered scientific research questions and unresearched topics in the areas of maritime transportation finance and risk management that inspired the proposed Special Section.
The aim of the Special Section is twofold: firstly, to bring together all the latest research advancements in the domain of shipping finance and risk management in a single volume, and secondly, to provide a reference for the best practices and applications of the impact of digital disruptions in commercial activities in the maritime industry.
The market of the Special Section is extensive, while its attractiveness is high, due to the wide range and current importance of topics included in the Section, covering several research interests of readers and scholars. More specifically, the following indicative research topics are expected to be covered by the submitted papers:
· Financial risk management in maritime transportation
· Use of derivatives to hedge risks in the maritime industry
· Shipbuilding finance
· Debt financing in shipping
· Public debt markets for shipping
· Public and private equity markets for shipping
· Maritime investment appraisal
· Financial Analysis of Ship Investments
· Corporate Finance in Shipping
· Mergers & Acquisitions in Shipping
· Impact of new maritime regulations on Financial Performance
· Impact of new environmental regulations on the operating expenses and financial performances of shipping companies
· The impact of Blockchain and AI in commercial maritime operations
· New financial and risk management strategies in an era of digital disruptions
· Big data analysis for maritime investment appraisals
· Machine learning and AI in forecasting maritime variables
· Unmanned and Autonomous vessels and operating expenses