Alliance formation in a cooperative container shipping game: Performance of a real options investment approach

Rau, Philipp; Spinler, Stefan

doi:10.1016/j.tre.2017.02.005

Cited by 29 publications

(18 citation statements)

References 37 publications

Supporting

Mentioning

Contrasting

Order By: Relevance

“…In this study, real option will be used in combination with the cooperative game theory to determine the optimal concession period of the build-operate-transfer solar PV power project, assuming exchangeable utility and full public information [39,40]. In this cooperative framework, the objective of the concession period determination is to maximize the sum of the project values of the two major stakeholders (i.e., the government and the private sector), considering the value of the option to defer.…”

Section: Methodsmentioning

confidence: 99%

The Determination of Concession Period for Build-Operate-Transfer Solar Photovoltaic Power Project under Policy Incentives: A Case Study of China

Chen

2019

Energies

View full text Add to dashboard Cite

Since the concession period is one of the most crucial variables influencing the success of a photovoltaic (PV) power project under build-operate-transfer (BOT) mode, this paper presents a real option game model—which integrates the real option and cooperative game theory—to determine the optimal concession period of the BOT solar PV power project under policy incentives by considering the value of the option to defer. In the proposed model, an effective interval of concession period for the BOT project was identified by using a real option, and the equilibrium value of the concession period was obtained by applying classical optimization theory. To evaluate our model, we empirically determined the optimal concession period for the BOT solar PV power project in China, and a sensitivity analysis was conducted to demonstrate how relevant influential factors, which are presented in the model, affect the equilibrium value of the concession period and its effective interval. The results indicate that the current investment environment in China could successfully implement the BOT solar PV power project under policy incentives, including initial cost subsidy and the feed-in tariffs mechanism. While the high volatility of electricity demand, investment cost, and land-use rent fee can lead the failure of the BOT solar PV project implementation, promoting the technological development of PV power generation, maintaining the market stability, and increasing the policy incentives can help the BOT power project to be arranged with an optimal concession period. In addition, the feed-in tariffs mechanism is more helpful than the initial cost subsidy for winning the BOT contract.

show abstract

Section: Methodsmentioning

confidence: 99%

The Determination of Concession Period for Build-Operate-Transfer Solar Photovoltaic Power Project under Policy Incentives: A Case Study of China

Chen

2019

Energies

View full text Add to dashboard Cite

show abstract

“…It can be expressed in twofold: subjective capital integration and organizational and functional form expressed through establishing strategic alliances. Main reasons for those agreements are risk-sharing, knowledge exchange, economies of scale and strengthening the market position [5]. Concluding, the above settlements have high impact on MCSM.…”

Section: The Supply Side Of the Maritime Container Shipping Marketsmentioning

confidence: 95%

“…The dynamic growth of the new transportation branch caused an increase in a number of markets members on the supply side as well as on the demand side. The supply side of the market took actions to strengthen their market shares and risk sharing [5]. In 21 th century those activities were carried out by establishing strategic alliances that led to the reduction costs and increase market shares battening on the smaller entities.…”

Section: Introductionmentioning

confidence: 99%

Analysis of the market concentration of the container shipping markets – selected issues

Charłampowicz

2018

SHS Web Conf.

View full text Add to dashboard Cite

The value of maritime freight transport grows yearly both in terms of value and quantity. The dynamic development of container shipping is responsible for this state of affairs. The maritime container transport market is strongly integrated on the supply side. The aim of this paper is to determine, based on empirical data, whether the market is still competitive for its participants on the supply side. For this purpose, the 2 indicators of concentration were calculated, namely CRx-concentration for 4 operators with the largest market share, and Herfindahl-Hirshmann Index for TOP 10 and TOP 20 operators, based on AXS Alphaliner TOP100 and various issues of UNCTAD Review of Maritime Transport. The results of the calculations indicate that the market is still competitive, although it is heading towards a direction in which several large entities will dictate the conditions to other participants.

show abstract

“…Changing market environment caused a need for adaptability for various participants in this market, like shipping line operators and container terminals operators. This adaptation was expressed in the strategic alliances [2,6,25,33,38] and mergers and acquisitions [17,20,32]. These actions led to a more concentrated market, where few shipping operators can dictate the conditions for other participants, such as terminals [7,8,20].…”

Section: Introductionmentioning

confidence: 99%

Maritime container terminal service quality in the face of COVID-19 outbreak

Charłampowicz

2021

Pomorstvo (Online)

View full text Add to dashboard Cite

The COVID-19 pandemic had a serious impact on global trade in 2020. The interruption of the supply chains due to various restrictions influenced the rapid drop in the transport demand. In the last decade, the global containerized trade has noted the growth of approximately 55,5%, with an average pace of growth of about 5% yearly. Container shipping, as one of the industries vulnerable to economic shocks, has noted a significant drop in trade. The role of maritime container terminals as an integrator and facilitator of global trade in the global supply chains is undisputed. Therefore, the role of services provided by the maritime container terminals has grown in importance. This situation generates the necessity to adapt to these circumstances in a way that expresses the need of improving the service quality, as one of the key aspects of competitiveness. The purpose of this paper is to determine the possibility to verify the relation between COVID-19 impacts on maritime container transport and maritime container terminal service quality. Based on the findings the suggested actions for service quality improvement are proposed.

show abstract

Alliance formation in a cooperative container shipping game: Performance of a real options investment approach

Cited by 29 publications

References 37 publications

The Determination of Concession Period for Build-Operate-Transfer Solar Photovoltaic Power Project under Policy Incentives: A Case Study of China

The Determination of Concession Period for Build-Operate-Transfer Solar Photovoltaic Power Project under Policy Incentives: A Case Study of China

Analysis of the market concentration of the container shipping markets – selected issues

Maritime container terminal service quality in the face of COVID-19 outbreak

Contact Info

Product

Resources

About