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

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  • Nesrin Koç Ustali
  • Fahriye Merdivenci
  • Sonay Zeki Aydın

Abstract

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.

Suggested Citation

  • Nesrin Koç Ustali & Fahriye Merdivenci & Sonay Zeki Aydın, 2024. "Evaluation of factors affecting price in second hand ship market: Turkey application with the SWARA method," Maritime Policy & Management, Taylor & Francis Journals, vol. 51(6), pages 981-994, August.
    • Handle: RePEc:taf:marpmg:v:51:y:2024:i:6:p:981-994
    DOI: 10.1080/03088839.2024.2306943
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