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IPS173 Athanasios Petralias et al.
others stop reporting; new types of vessels appear), the mobility of the
shipping business sector is continuously growing. The increased competition
from Eastern countries, in conjunction with the new environmental framework
for the shipping sector and the developments in the world trade, cause many
shipping companies (especially SPC/SPVs) to close an others to open even on
a daily basis, purchases, sales and conversions/rebuilds of vessels to increase
(including new eco-friendly types), new routes to open and high volatility in
freight rates and operating expenses.
The Greek Shipping Estimation Model can be readily applied by other
member states, as well as countries outside EU, to estimate some or all of the
items in Balance of Payments, related to shipping activity. We believe the
current methodological framework can set new standards in official statistics,
in terms of both using statistical modelling to incorporate information from
commercial databases, as well as on how to handle off-shore companies when
there is no information on their income and expenses. Finally, it is hoped that
this work can form a basis for future research in shipping, in both the academia
and the industry.

References
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