3. (a) What is the freight market? (b ) Explain how the following scenario impacts the freight market. Scenario: 2015 Market Report Excess supply of shipping tonnage throughout the dry bulk sector has resulted in an increased level of scrapping. Levels of scrapping were not enough to bridge the gap between demand and supply and bring the sector back to balance. As a result, a large number of vessels are idle and where employment occurs, it is a limited capacity. (c ) Outline the set of market circumstances that indicate that a vessel is at the end of her economic life.

3. (a) What is the freight market? (b ) Explain how the following scenario impacts the freight market. Scenario: 2015 Market Report Excess supply of shipping tonnage throughout the dry bulk sector has resulted in an increased level of scrapping. Levels of scrapping were not enough to bridge the gap between demand and supply and bring the sector back to balance. As a result, a large number of vessels are idle and where employment occurs, it is a limited capacity. (c ) Outline the set of market circumstances that indicate that a vessel is at the end of her economic life.

ECON MICRO

5th Edition

ISBN:9781337000536

Author:William A. McEachern

Publisher:William A. McEachern

Chapter11: Resource Market

Section: Chapter Questions

Problem 2.4P

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