Modelling short-run ocean bulk carrier rates for the movement of grains / Allan Vinni. --
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This paper, utilizing a complete market data set from Drewry Shipping Consultants, determines short-run cost functions for dry bulk carriers. Specification of the short-run to be one month and standard log-log functional form give estimations supporting average elasticities of the magnitude .45 for voyage length and -.56 for vessel size.