报告题目：Container Shipping Market Turbulence---Interaction Between Exogenous Shocks and Shipping Alliances

报告人：王焜

邀请人：薛方红

时间及地点：2023年04月16日（周日），13:00-15:00，腾讯会议 ID：918-297-061

报告摘要：

Frequent and dramatic container shipping market turbulences have been observed in recent decades, causing concerns of shipping stakeholders and the governments around the world. While the exogenous shocks like economic recession and pandemic are attributed for such turbulence, the evolving shipping market structure change with the formation of shipping alliance could play a mediating role. In this paper, we examine the interaction between the exogenous shocks (from demand or supply sides), such as the economic recessions and pandemic, and the shipping market alliances. A theoretical model is firstly derived to generate theoretical conclusions. An empirical study is then conducted using real shipping market data to verify the theoretical predictions. Specifically, our analytical results suggest that the shipping alliance could enlarge (or reduce, respectively) the volatility of the shipping freight rates when the shipping market demand (or shipping fuel price, respectively) is stochastic. Meanwhile, the shipping alliance always leads to lower volatility of the port charges. We also find that the alliance-induced cost saving has no impacts on (or increases, respectively) the volatility differences of both the port charges and the shipping freights after shipping carriers forming the alliance, when the shipping demand (or shipping fuel price, respectively) is stochastic. A difference-in-differences type econometric method is implemented, which verifies the analytical conclusions, based on the panel data of the China Container Freight Index (CCFI) and trade in the container shipping routes spanning from 2000 to 2021.

人物介绍：

  王焜，现任香港理工大学工业工程学系助理教授。Transport Policy期刊副主编，世界交通运输研究大会(WCTRS)科学委员会委员，World Conference on Transport Research Society (WCTRS)常设供应链管理协会主席，世界交通大会(WTC)水运委员会委员，中国物流学会常务理事；Transportation Research Part A，Journal of Air Transport Management (SSCI)，Research in Transportation Economics (SSCI)客座编辑，Journal of Air Transport Management, Economics of Transport and Management编委。研究领域为“运输优化与运营决策”、“运输政策分析”。在国际一流SSCI期刊共发表学术论文60余篇，包括7篇运筹和交通运输领域知名期刊Transportation Research Part B，14篇交通运输领域一流期刊Transportation Research Part A ;其他多篇一作和通讯作者的论文发表在International Journal of Industrial Organization、Energy Economics 、Transportation Research Part E， Transportation Research Part D 。学术成果Google学术累计被引2000多次，多篇文章入选ESI热点/高被引论文。