Konstantinos D. Melas

Dr. Konstantinos D. Melas

Department of Economics, University of Western Macedonia, Kastoriá, Dytikí Makedonía, Greece
orcid
Post-doctoral researcher in Supply Chain Finance - Universit...

Research Focus & Metrics

Academic Career Length

8Years (2019-Present)

(Calculated once Scilit publication data is synced: current year − year of first publication + 1)

Representative Publications

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1 September 2020 in Transportation Research Interdisciplinary Perspectives
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Journal Article
Open access
NMNektarios A. Michail
Nektarios A. Michail
Konstantinos D. MelasKonstantinos D. Melas
Konstantinos D. Melas
In the current study, we examine, for the first time in the literature, the impact of exogenous effects in the shipping industry by employing data from the recent Covid-19 pandemic outbreak and explore the reactions of freight rates for dry bulk, clean, and dirty tankers. Our results, using both GARCH (1,1) and VAR specifications, suggest that such events are directly affecting the dry bulk and the dirty tanker segments. In addition, the results also suggest that second round effects, mostly via the decline in oil prices and, in some cases, third round effects via the impact from the stock market, also exist. Finally, by employing daily port calls a proxy variable for the demand for transportation services, we show that both the dry bulk and clean tankers are highly affected by the demand side of the economy, while vessels which transport crude oil do not register such a relationship.

16 August 2022 in Peace Economics, Peace Science and Public Policy
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Journal Article
Open access
NMNektarios A. Michail
Nektarios A. Michail
Konstantinos D. MelasKonstantinos D. Melas
Konstantinos D. Melas
We explore the relationship between Liquified Natural Gas (LNG) and Liquified Petroleum Gas (LPG) carrier freight rates and global geopolitical risk, while also controlling for the macro environment. Our results show that a shock in geopolitical risk significantly increases the cost of the spot charter rates for both LNG and LPG carriers, with the impact reaching around 25% for the former and 18% for the latter. Our results bear significant implications for both the companies and the countries involved in the liquefied gas trade, with its importance growing as the use of this energy source is likely to continue substituting other fossil fuels in the future.

2 September 2022 in International Economics
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Journal Article
Closed access
NMNektarios Michail
Nektarios Michail
Konstantinos D. MelasKonstantinos D. Melas
Konstantinos D. Melas
LCLena Cleanthous
Lena Cleanthous

1 January 2020 in Maritime Transport Research
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Journal Article
Open access
NMNektarios A. Michail
Nektarios A. Michail
Konstantinos D. MelasKonstantinos D. Melas
Konstantinos D. Melas

1 January 2021 in Maritime Transport Research
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Journal Article
Open access
Konstantinos D. MelasKonstantinos D. Melas
Konstantinos D. Melas
NMNektarios A. Michail
Nektarios A. Michail

17 October 2024 in German Economic Review
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Journal Article
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Konstantinos D. MelasKonstantinos D. Melas
Konstantinos D. Melas
NMNektarios Michail
Nektarios Michail
KLKyriaki G. Louca
Kyriaki G. Louca
We examine how trade and policy uncertainty affect shipping freight rates, using a Bayesian Vector Autoregression (BVAR) model. Trade uncertainty has a strong effect on shipping costs, even though the effects become insignificant within a year. On the other hand, policy uncertainty has a slightly smaller initial effect but tends to have longer-lasting effects on shipping costs. Trade uncertainty tends to benefit European stocks, perhaps as investors may believe that consumers will shift to local companies, with the impact on US stocks also being (mildly) positive, despite the (lagged) deterioration in economic activity. Trade uncertainty tends to have a longer-lasting impact on GDP than policy uncertainty, given then known merits of comparative advantage, while the effect of policy uncertainty is higher in the European markets compared to the US ones.