Fixtures in the container shipping chartering market and the changes in charterers-shippers relations during 2008 crisis

In their study, Agnieszka Nowinska and Hans-Joachim Schramm, map the charterers-shippers relations in the chartering market of the container shipping.

They more specifically look into how shippers and charterers change their behavior in terms of signing new fixtures upon the financial crisis in 2008.

Take a deep dive Into the chartering world of the container shipping market and find out how Agnieszka and Hans-Joachim found that smaller and larger-size charterers in the container shipping industry use different collaborative strategies during crisis: the former fix more with external players (cargo owners), while the latter fix with each other.

Among their results are the findings that versatility (use of a mix of gearless and geared vessels) helps charterers sustaining the extent of fixtures signed during crisis and that long-term orientation (country-specific variable) decreases the extent of charterers’  fixtures during crisis.