An Analysis of seasonality patterns in container freight rates using HEGY method

• Autores: Bangar Raju Totakura
• Localización: Journal of maritime research: JMR, ISSN 1697-4840, Vol. 16, Nº. 2, 2019, págs. 87-95
• Idioma: inglés
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• Resumen

  • his paper strongly inspects the behavior of seasonality (deterministic) in container freight rates, andmeasures and compares seasonality patterns in different freight rate indices. We have performed deter-ministic seasonality unit root test in order to achieve set objectives. From this study we have a drawnconclusion that all the indices (tested in this paper) exhibit significant deterministic seasonality. For themonths of January and August, there is no seasonal effect observed in all five series. Whereas all theindices except Exports from Europe rate index (EEI) exhibit significant seasonal patterns in the monthsof February, September and December. All five indices exhibit significant seasonality during May, andthe coefficient sign shows a drop in the freight rates. During the months of March, October and Novem-ber; it is observed that only EEI exhibit significant seasonal patterns. The results are extremely usefulfor carriers and agents who are involved in containerized freight transport business. Also, shippers canget a clear idea about the nature of the freight rates across various trade routes. This study is of greathelp to a broad category of stakeholders in containerized cargo transport business