Papers by Stratos Papadimitriou
The law of conservation of energy towards defining maritime cluster dynamics
Marine Policy
In recent years, clusters of industry have attracted multilateral attention, from academia and pr... more In recent years, clusters of industry have attracted multilateral attention, from academia and practice, alike. Clusters of industry relate to harbouring regional competitiveness; as such, they have come to be considered as important constructs for strategy and policy, that can be deemed as complementary domains. At the same time, maritime clusters are regarded as dynamic cases from a multitude of viewpoints. The concepts of strategic policy, particularly as they pertain to maritime clusters, require deeper understanding and more thorough analysis. In this context, cluster typologies surface as a useful instrument that can offer valuable insight. While this field instils the eventuality of facilitating policy and strategy within clusters, it remains relatively barren. This instance may present the opportunity to better elaborate on the formulation of models and frameworks that address the intricacies within maritime clusters. The research conducted introduces a three-tier framework for the generation of maritime cluster typologies, that bears the potential to enrich strategic management and its eventual policy implications, towards a more streamlined and informed manifestation.
Situation analysis forecasting: the case of European maritime clusters
Maritime Policy & Management
ABSTRACT Within the literature concerned with aspects of competitiveness, innovation and strategi... more ABSTRACT Within the literature concerned with aspects of competitiveness, innovation and strategic management of industrial clusters, the body regarding forecasting of strategic management is still nascent. This work aspires to render a contribution within the domain of strategic management forecasting, through the indicative case of European maritime clusters. For this end, a two-tier model is formulated. A quantitative strengths, weaknesses, opportunities, and threats (SWOT) methodology that derives from the fusion of a quondam situation analysis and crosstabs’ theory is generated. This leads to the utilization of the crosstab’s conditional probabilities as transition probabilities; the latter are called to compile the transition matrix of a Markov chain. Through this methodology, and the successive Markov chain’s transition matrices, strategic forecasts are extracted for a devised European maritime cluster case. This work relinquishes a novel application with respect to strategic management forecasting, that provides a dichotomy of practical interpretations and scenarios for quantitative situation analysis. Thus, it may enable effective real-time decision-making for strategic management and/or policy drafting. The situation analysis forecasting model may find applicability in a plethora of practical and theoretical cases, wherein forecasting may be desirable. It may as well pertain to an intrinsic methodology for situation analysis forecasting of maritime clusters.
A Novel Approach to Forecasting the Bulk Freight Market
The Asian Journal of Shipping and Logistics, 2017
ABSTRACT The fast-paced and ever changing freight market compels maritime executives to use sound... more ABSTRACT The fast-paced and ever changing freight market compels maritime executives to use sound forecasting tools. This paper aims to enhance the forecasting accuracy of the Baltic Dry Index (BDI) by means of developing a multivariate Vector Autoregressive model with exogenous variables (VARX). The proposed model incorporates the Chinese steel production, the dry bulk fleet development and a new composite indicator, the Dry Bulk Economic Climate Index (DBECI). The predictive power of this approach is evaluated against a univariate ARIMA framework, which serves as a benchmark model. The selection of explanatory variables and the model specification are validated using a series of pertinent tests. The results demonstrate that the VARX model outperforms the ARIMA approach, suggesting that the selected independent variables can substantially improve the accuracy of BDI forecasts. The present study is of interest to maritime practitioners, as it provides useful insights into the direction of the freight market and allows them to make informed decisions.
Multi-port versus hub-and-spoke port calls by containerships
Transportation Research Part E Logistics and Transportation Review, Mar 1, 2009
Berth Allocation Planning in the Public Berth System by Genetic Algorithms
船貨輸送研究施設研究報告, Mar 1, 2003
... Brown et al. [1 and 2] treat ship berthing in naval ports. They identify the optimal set of s... more ... Brown et al. [1 and 2] treat ship berthing in naval ports. They identify the optimal set of ship-to-berth assignments that maximizes the sum of benefits for ships while in port. Berth planning in naval ports has important differences from berth planning in commercial ports. ...
船貨輸送研究施設研究報告, Mar 1, 2003
This paper addresses the problem of determining a dynamic berth assignment to ships in the public... more This paper addresses the problem of determining a dynamic berth assignment to ships in the public berth system. While the public berth system may not be suitable for most container ports in major countries, it is desired for higher cost-eectiveness in Japan's ports. The berth allocation to calling ships is a key factor for ecient public berthing. However, it is not calculated in polynomially-bounded time. To obtain a good solution with considerably small computational eort, we developed a heuristic procedure based on the Lagrangian relaxation of the original problem. We conducted a large amount of computational experiments which showed that the proposed algorithm is adaptable to real world applications.
超大型コンテナ船対応港湾におけるターミナルレイアウトの効果( International Association of Institutes of Navigat)
Navigation 日本航海学会誌, Dec 25, 2006
Analysis of port authority efficiency using data envelopment analysis
Maritime Economics & Logistics, 2015
Port authorities (PAs) generate revenues by guiding, coordinating and exploiting their resources,... more Port authorities (PAs) generate revenues by guiding, coordinating and exploiting their resources, facilities and infrastructure of their ports. In this article, using Data Envelopment Analysis (DEA), we assess and analyze the efficiency of PAs in generating revenues. Despite the plethora of studies on port efficiency, there has been no study to focus on PAs and compare, in terms of efficiency, their revenue generation mechanism. For that purpose, we present two different modeling approaches: one that relates revenues to the basic throughput and activity of the port and another that takes into consideration land, infrastructure and labor indicators. For the implementation of this approach we use a sample set of international landlord, multi-activity ports. The analysis first discriminates between efficient and non-efficient ports and for the latter it identifies their benchmarks and provides target values for their revenues. Furthermore, in a post-DEA stage the article examines the relation between efficiency and the size of a port.
Nurturing Entrepreneurship : Institutions and Policies / P. Mourdoukoutas, S. Papadimitriou
Introduction Entrepreneurship in Start-Ups Venture Capital Business Incubators Entrepreneurship i... more Introduction Entrepreneurship in Start-Ups Venture Capital Business Incubators Entrepreneurship in Established Corporations Entrepreneurship Inside Corporate Boundaries Entrepreneurship Outside Corporate Boundaries An Agenda for the Government Creating an Entrepreneurial Regime Addressing Market Failures in Start-Up Financing Summary and Conclusions Index
The Strategic Factors Shaping Competitiveness for Maritime Clusters: An Overview
Objective: Industrial clusters have been an enduring object of study from Alfred Marshall’s ‘loca... more Objective: Industrial clusters have been an enduring object of study from Alfred Marshall’s ‘localized industries’ to the point that scholars are still analyzing the framework and dynamics of agglomeration economies and their underlying factors. Industrial clusters are considered as a pillar of competitiveness, innovation and sustainability for today's economies, for they may hold viable competitive advantages for industries and nations. Maritime clusters in particular provide a very attractive analytical base within a strategic management perspective, for many strategic aspects such as innovation, knowledge creation and diffusion, network economies etc. have been found to bloom within said divide of industrial clusters. We venture to extract the strategic factors that instigate the mechanisms triggering these effects. The objective of this work is to provide a topology of factors concerning maritime clusters, their critical linkages with factors concerning other industrial clus...
Excess returns in the spot market for bulk carriers
The present study investigates the excess return dynamics between time charter (t/c) trip charter... more The present study investigates the excess return dynamics between time charter (t/c) trip charters and their underlying voyage charters in the dry bulk market. Using a weekly data set over the period January 2003 to January 2014, we first examine the existence of a long-term co-integrating relationship between trip charters and their respective voyages expressed in Time Charter Equivalents. Then we develop a new methodology based on technical analysis in order to identify excess return signals and form a trading strategy. The results show that our approach outperforms the benchmark strategy of always chartering in vessels on t/c trip charters and perform the underlying voyage charters. Our analysis can be used by ship operating companies as a guide to select voyages with the highest probability of excess returns and adapt their chartering strategies accordingly.
A Techno-Economic Analysis of Oil vs. Natural Gas Operation for Greek Island Ferries
In the quest for sustainability of island regions, coastal shipping ought to be at the forefront ... more In the quest for sustainability of island regions, coastal shipping ought to be at the forefront because it provides essential and often sole lifeline services for the island inhabitants and visitors. Air pollution caused by the exhaust emissions of coastal ships has a detrimental environmental effect upon the coastal human population and the natural resources. The high coastal shipping activity within the Greek seas and the environmental vulnerability of the Greek coasts present a case that undoubtedly deserves particular attention. To this extent, the utilization of liquified natural gas (LNG) for powering island ferries constitutes a promising alternative to oil-fuel for achieving a sizable reduction of SOX, NOX, and particulate matter (PM) exhaust pollution. Furthermore, in their effort to improve the quality of the shipping services, island communities often appear to be constantly pushing for new vessels, and LNG engines constitute a suitable opportunity for fleet renewal through the introduction of “green” shipboard technology. In this paper, the connection of the Greek Dodecanese Islands and the main port of Piraeus with an oil- vs. LNG-fueled ferry line is analyzed. The results indicate that, compared to conventional oil-fuel, natural gas currently offers a favorable alternative in terms of private costs (technical and fuel costs), as well as in terms of the external (damage) costs due to ship exhaust pollution. It is also shown that the LNG shipboard technology has the prospect of extending its advantage with respect to private costs, due to the increasing pressure on oil-fuel–related environmental control and the expansion of the natural gas market. Finally, a justifiable argument is made regarding the improvement of the techno-economics of the LNG ferry through the utilization of the “land transport equivalent” principle, in conjunction with “green” technology funding under the European policy framework for transport, energy, and regional development.
The Tqm Magazine, 1991
The increase of international container movements during the last thirty years has been enormous ... more The increase of international container movements during the last thirty years has been enormous as the market is experiencing a doubling of the volumes in every decade. Containerized shipping is the backbone of international trade and as trade volumes increase at a faster rate than the economy and as the effects of deregulation and globalization become more evident, containerized shipping is expected to increase its importance along the transport chains. Quite a few academics and professionals also assert that commodities traditionally shipped in bulk will soon be containerized as well, thus heightening the increase of unitized movements, which will impact decisively the role of the ports. The introduction of bigger vessels does not only concern ports and carriers. Shippers and other members of the so-called port community, such as brokers, truckers, rail operators, insurers, agents are more than skeptical on the effects and the networking of the future. It is necessary for every p...
Maritime Policy & Management, 2013
The accuracy of the Content should not be relied upon and should be independently verified with p... more The accuracy of the Content should not be relied upon and should be independently verified with primary sources of information. Taylor and Francis shall not be liable for any losses, actions, claims, proceedings, demands, costs, expenses, damages, and other liabilities whatsoever or howsoever caused arising directly or indirectly in connection with, in relation to or arising out of the use of the Content. This article may be used for research, teaching, and private study purposes. Any substantial or systematic reproduction, redistribution, reselling, loan, sub-licensing, systematic supply, or distribution in any form to anyone is expressly forbidden.
Managing Mobility in Cities: Quality Management-Based Approach
Mobility management (MM) has been Europe's approach to transportation demand man... more Mobility management (MM) has been Europe's approach to transportation demand management during the two decades; its aim is to promote sustainable transportation by changing travelers' behavior against the usage of private vehicles. However, selection, planning ...
Index YEAR XII, NUMBER 36, August 2007 Special issue: Pricing, Financing and Investment in Transp... more Index YEAR XII, NUMBER 36, August 2007 Special issue: Pricing, Financing and Investment in Transport Editors: De Palma, A., Marcucci, E., Niskanen, E., Verhoef, E. De Palma, A. Marcucci, E. Niskanen, E. Verhoef, E. Introduction 1 Abbes, S. Marginal social cost pricing in European seaports 4 Beria, P. Transport megaprojects in Italy. A comparative analysis of economic feasibility studies into EIAs 27 de Palma, A. Motamedi, K. Picard, N. Waddell, P.
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Papers by Stratos Papadimitriou