A tale of two tides: comparing the price effect of market concentration and alliances in the container shipping market

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• dc.contributor.author Cuka, Patrick
• dc.contributor.author Villacorta, Raúl
• dc.date.accessioned 2025-02-07T12:53:09Z
• dc.date.available 2025-02-07T12:53:09Z
• dc.date.issued 2024-06
• dc.description Treball fi de màster de: Master's Degree in Specialized Economic Analysis: Specialization in Competition, Regulation and Markets Program. Curs 2023-2024
• dc.description Tutors: Rosa Ferrer, Fabian Gaessler and Juan-José Ganuza
• dc.description.abstract This study investigates the impact of shipping alliances and market concentration on maritime freight rates. For this purpose, we analyse Peruvian containerized imports at the transaction level using customs data and public mergers, acquisitions, and shipping alliances announcements from 2014 to 2018. Using a modified price-concentration analysis (PCA), we find that higher carrier-level concentration raises prices, while greater alliance-level concentration lowers them, particularly on smaller routes. Additionally, mergers and acquisitions tend to increase prices. Our findings are robust to different specifications and can be applied to countries with similar characteristics to those of Peru.
• dc.description.abstract Este estudio investiga el impacto de las alianzas navieras y la concentración del mercado en los fletes marítimo. Para ello, analizamos transacciones de importación de contenedores en el Perú utilizando información aduanera y anuncios públicos de fusiones, adquisiciones y alianzas navieras desde 2014 hasta 2018. Mediante un análisis de precios-concentración (PCA) modificado, encontramos que una mayor concentración de líneas navieras aumenta los precios, y una mayor concentración de alianzas los reduce, particularmente en rutas más pequeñas. Además, las fusiones y adquisiciones tienden a incrementar los precios. Nuestros hallazgos son robustos a diferentes especificaciones y aplicables a países similares al Perú.es
• dc.identifier.uri http://hdl.handle.net/10230/69527
• dc.language.iso eng
• dc.rights This work is licensed under a Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International License
• dc.rights.accessRights info:eu-repo/semantics/openAccess
• dc.rights.uri https://creativecommons.org/licenses/by-nc-nd/4.0
• dc.subject.keyword Shipping alliancesen
• dc.subject.keyword Market concentrationen
• dc.subject.keyword Price-concentration analysisen
• dc.subject.keyword Alianzas navierases
• dc.subject.keyword Concentración de mercadoes
• dc.subject.keyword Análisis de precios-concentraciónes
• dc.subject.other Treball de fi de màster – Curs 2023-2024
• dc.title A tale of two tides: comparing the price effect of market concentration and alliances in the container shipping market
• dc.type info:eu-repo/semantics/masterThesis