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APPENDIX
1 The Baltic Exchange:
http://www.balticexchange.com/about-usshipping-markets/
2 The Hedge Fund Journal:
http://www.thehedgefundjournal.comnode/9332#sthash.l9VVdgxx.dpuf
3 Clarksons, Nov 2009,
http://www.clarksons.net/archive/researchfreestuff/RINA%20President’s%20Invitation%20Lecture%2
11%20Nov%202009.pdf
4 DNV Report, Shipping 2020
5 International Chamber of Shipping,
http://www.ics-shipping.orgshipping-facts/shipping-and-world-trade/world-seaborne-trade
6 Oxford Economics, The Economic Impact of the UK Maritime
Services Sector: Shipping
7 The Baltic Exchange,
http://www.balticexchange.com/about-usshipping-markets/
8
http://marketrealist.com/2014/01/investing-dry-bulk-shippingmust-read-overview/
9 Drewry Research
10 Department for Transport, September 2015, Maritime Growth
Study:keeping the UK competitive in a global market
11 Scorpio Bulkers 2014 Annual Report
12 Market Realist, Aug 2015,
http://marketrealist.com/2015/08/ironore-port-inventories-dont-cheer-dry-bulkers/
13 Scropio Bulkers 2014 Annual Report USD
14 Baltic Exchange
15 Platts Dry Bulk Market Survey, August 2015
16 Baltic Exchange:
http://www.balticexchange.com/about-usshipping-markets/
17 Calculated using Drewry market data
18
http://www.intercargo.org/industry.html19 BBC, 30 October 2015,
http://www.bbc.co.uk/news/world-asiachina-34674444
20 World Shipping Council,
http://www.worldshipping.org/benefitsof-liner-shipping/low-environmental-impact
21 Drewry, Sep 2015, Shipping Insight, Monthly Analysis of the
Shipping Markets
22 The Financial Times, June 2013 ,”
http://www.ft.com/cmss/0/0da61e4a-d921-11e2-a6cf-00144feab7de
html#axzz3q9q4kmGF
23 Braemar ACM Shipbroking, Demolition Statistics Monthly,
November 2015
24 British Marine
25 MaritimeUK, The success of the tonnage tax, 2013
26
http://marketrealist.com/2015/05/dry-bulk-shipping-industryperformance-2015/
27 Financial Times, June 2013,
http://www.ft.com/cms/s/0/0da61e4ad921-11e2-a6cf-00144feab7de.html#axzz3q9q4kmGF
28 Bimco, October 2015,
https://www.bimco.org/en/ReportsMarket_Analysis/2015/1009_DrybulkSMOO2015-4.aspx
29 Platts Dry Bulk Market Survey, Aug 2015
30 Dryships Inc. NASDAQ: “DRYS” August 7, 2015 2nd Quarter Ended
June 30,2015 Earnings Presentation
31 Braemar ACM Ship Broking15 November 2015, Dry Bulk Report
Weekly
32 Marine Insight, July 2013,
http://www.marineinsight.com/miscmarine-safety/what-is-extended-dry-docking-of-ships/
33 Drewry Maritime Research, Dry Bulk Forecaster | 2Q 2015
34 Drewry Maritime Research, Dry Bulk Forecaster | 3Q 2015
35 Market Realist, July 2015,
http://marketrealist.com/2015/07/drybulk-shipping-industry-headed/.
36 China’s ups and downs effect global markets. August 2013, http:/
marketrealist.com/2015/08/slowing-growth-concerns-china
impact-dry-bulkers/
37 Bimco, Aug 2015;
https://www.bimco.org/en/Reports/MarketAnalysis/2015/0814_China_Coal_Imports.aspx
38 Deutsche Bank, September 27 2015 Industry Update on Dry Bulk
Shipping
39 Bloomberg, September 2015,
http://www.bloomberg.com/newsarticles/2015-09-21/iron-ore-outlook-cut-by-anz-as-china-s-steel
demand-passes-peak
40 China soyabean imports up 9.8% y/y during January–August 2015
- IHS Maritime 360, Sep 2015
41 Aug 15,
http://marketrealist.com/2015/08/chinas-factory-activityshrinks-dry-bulkers-reeling/
42 World Steel Figures in 2015, World Steel Association
43 Scorpio Bulkers Inc. 2014 Annual Report
44
http://shippingwatch.com/carriers/Bulk/article7898059.ece.45 Drewry Research, October 2015
46 Market Realist,
http://marketrealist.com/2015/08/newbuildvessel-prices-remained-steady-july/
47 Moore Stephens, Ship operating costs seminar Current and future
trends, Wednesday 28 October 2015
48 Moore Stephens, October 2015, Ship operating costs seminar
Current and future trends
49 Bimco Sept 2015.
https://www.bimco.org/en/Reports/MarketAnalysis/2015/0616_DrybulkSMOO2015-3.aspx
50 Sept 2015, Drewrys,
http://www.drewry.co.uk/news.php?id=40051 Chinese orderbook in question -Tradewindsnews.com Oct 15.
52 Fairplay, November 2015,
http://fairplay.ihs.com/commercearticle/4257061/ihs-white-paper-dry-bulk-market-to-see-its
worst-yet
53 Caixin Online, November 2015,
http://english.caixin.com/2015-03-11/100790192.html
54 Tradewinds, November 2015,
http://www.tradewindsnews.comdrycargo/376920/dry-bulk-stocks-suffer-rout-in-new-york
55 Scorpio Bulkers Press Release, November 19, 2015, Marketwired
56 Global Marine Trends 2030, Lloyd’s Register, QinetiQ and
University of Strathclyde
57 Oct 15,
http://www.lloydslist.com/ll/sector/dry-cargoarticle470352.ece
58
http://shippingwatch.com/secure/carriers/Bulk/article8091222ece, Oct 2015
59 TFR, November 2015,
http://www.tfreview.com/news/reportsdata/rough-seas-container-and-dry-bulk-shipping
60 August 2015
http://marketrealist.com/2015/08/dry-bulk-shippingindustrys-swinging-fortunes/
61 10 Oct, Lloyds List,
http://www.lloydslist.com/ll/sector/dry-cargoarticle470533.ece.
62 Waves in Ship Prices and Investment, Robin Greenwood and
Samuel G. Hanson, Harvard Business School April 2013, http:/
www8.gsb.columbia.edu/programs/sites/programs/files
finance/2013/Robin%20Greenwood.pdf
63 Waves in Ship Prices and Investment*, Robin Greenwood and
Samuel G. Hanson, Harvard Business School, February 2013
64 Bimco, June 2014,
https://www.bimco.org/en/Reports/MarketAnalysis/2015/0616_DrybulkSMOO2015-3.aspx
65 Scorpio joins regulation renegades with MR order
-Tradewindsnews.com, July 2015
66 Bimco, March 2015,
https://www.bimco.org/en/Reports/MarketAnalysis/2015/0313_DryBulkSMOO15-1.aspx