Özet:

The purpose of this study is to shed light on the future of the overseas freight market, based on the dry bulk freight market data reported by the Baltic Dry Cargo Index (BDI). In this context, causality relationships between iron ore, a commodity that affect demand for dry bulk cargo freight, and the dry cargo ship selling prices on the used ship market were examined. The Toda-Yamamoto causality analysis was used to investigate the links between the research parameters. According to the results, the iron ore price, which represents commodity pricing, has a statistically significant one-way causal relation on both freight and second-hand ship selling prices. Meanwhile, freight charges have a one-way effect on the second-hand ship selling prices. Although it is believed that these findings adequately reflect the characteristics of the overseas freight transport sector, this study partially differed from earlier studies that have discovered bidirectional causality relationships. These differences could be attributed to the varied periods during which the data sets were obtained. In the future, it is thought that there is a need to continue investigating this subject by developing and implementing various research designs.

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