Evaluation of factors affecting price in second hand ship market: Turkey application with the SWARA method

KOÇ USTALI N., MERDİVENCİ F., AYDIN S. Z.

Maritime Policy and Management, cilt.51, sa.6, ss.981-994, 2024 (SSCI) identifier

  • Yayın Türü: Makale / Tam Makale
  • Cilt numarası: 51 Sayı: 6
  • Basım Tarihi: 2024
  • Doi Numarası: 10.1080/03088839.2024.2306943
  • Dergi Adı: Maritime Policy and Management
  • Derginin Tarandığı İndeksler: Social Sciences Citation Index (SSCI), Scopus, Academic Search Premier, Aerospace Database, Aquatic Science & Fisheries Abstracts (ASFA), Business Source Elite, Business Source Premier, Communication Abstracts, EconLit, Environment Index, Geobase, Metadex, PAIS International, Pollution Abstracts, Public Affairs Index, DIALNET, Civil Engineering Abstracts
  • Sayfa Sayıları: ss.981-994
  • Anahtar Kelimeler: Maritime sector, Multi-Criteria Decision Making, second-hand ship market, SWARA method
  • Akdeniz Üniversitesi Adresli: Evet

Özet

The second-hand ship market is one of the main markets of the maritime economy where existing ships are traded, and price volatility is very high. Analyzing the factors that cause price volatility is significant for asset players in the shipping industry. For this reason, this study aims to evaluate the factors affecting the price in the second-hand ship market and to determine the variables that affect the price most in ship valuation. Thus, it is aimed to provide essential insights to market players with the findings obtained. In the study, an application has been made to evaluate the factors affecting the price in the second-hand ship market together and simultaneously. The 25 sub-criteria consisted of Economic Factors, Ship Characteristics, and Buyer and Seller Characteristics main-criteria obtained from the literature were evaluated. The evaluations were carried out using the SWARA technique, one of the MCDM methods. The results provide essential information for ship asset players to hedge their financial risks, manage their cash flows and debts, and make better decisions in the second-hand ship market.