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Article
Publication date: 17 July 2019

Ahmet Selcuk Basarici and Tanzer Satir

The purpose of this study is to reveal the magnitude of empty container movements (ECM) arising from cargo seasonality by means of long-term datasets of Turkish terminals. Trade…

Abstract

Purpose

The purpose of this study is to reveal the magnitude of empty container movements (ECM) arising from cargo seasonality by means of long-term datasets of Turkish terminals. Trade imbalance is one of the well-known major reasons of ECM. Cargo seasonality apart from some other operational drivers and market effect, i.e. commercial decisions of the ship operators, is the major operational driver in Turkish terminals effecting ECM. Furthermore, this study highlights the significance of market effect, leading to take measures for more effective empty container operations in terms of decision makers leading the ship operators.

Design/methodology/approach

Time series analysis of full container datasets was performed through X-13ARIMA-SEATS methodology, implementing seasonal adjustment.

Findings

The results indicate that 17 of 112 time series in hand, based on a terminal/hinterland, container type and “in and out” foreign trade, exhibit cargo seasonality. Roughly, the amount of ECM originating from cargo seasonality in Turkish terminals represents 10 per cent of total ECM except trade imbalance in those terminals where seasonality is present. This reveals that ECM arising from market effect should not be underestimated.

Research limitations/implications

Reefer container traffic could not be sorted from the datasets.

Originality/value

This paper focuses on one of the major reasons of ECM, cargo seasonality. It brings a novel point of view and interpretations which were not suggested previously about ECM, motivating to overcome inefficiency in container operations.

Details

Maritime Business Review, vol. 4 no. 3
Type: Research Article
ISSN: 2397-3757

Keywords

Content available
Article
Publication date: 20 December 2021

Mei-Ling Cheng, Ching-Wu Chu and Hsiu-Li Hsu

This paper aims to compare different univariate forecasting methods to provide a more accurate short-term forecasting model on the crude oil price for rendering a reference to…

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Abstract

Purpose

This paper aims to compare different univariate forecasting methods to provide a more accurate short-term forecasting model on the crude oil price for rendering a reference to manages.

Design/methodology/approach

Six different univariate methods, namely the classical decomposition model, the trigonometric regression model, the regression model with seasonal dummy variables, the grey forecast, the hybrid grey model and the seasonal autoregressive integrated moving average (SARIMA), have been used.

Findings

The authors found that the grey forecast is a reliable forecasting method for crude oil prices.

Originality/value

The contribution of this research study is using a small size of data and comparing the forecasting results of the six univariate methods. Three commonly used evaluation criteria, mean absolute error (MAE), root mean squared error (RMSE) and mean absolute percent error (MAPE), were adopted to evaluate the model performance. The outcome of this work can help predict the crude oil price.

Details

Maritime Business Review, vol. 8 no. 1
Type: Research Article
ISSN: 2397-3757

Keywords

Open Access
Article
Publication date: 7 July 2020

Mohamed Ali Ismail and Eman Mahmoud Abd El-Metaal

This paper aims to obtain accurate forecasts of the hourly residential natural gas consumption, in Egypt, taken into consideration the volatile multiple seasonal nature of the gas…

Abstract

Purpose

This paper aims to obtain accurate forecasts of the hourly residential natural gas consumption, in Egypt, taken into consideration the volatile multiple seasonal nature of the gas series. This matter helps in both minimizing the cost of energy and maintaining the reliability of the Egyptian power system as well.

Design/methodology/approach

Double seasonal autoregressive integrated moving average-generalized autoregressive conditional heteroskedasticity model is used to obtain accurate forecasts of the hourly Egyptian gas consumption series. This model captures both daily and weekly seasonal patterns apparent in the series as well as the volatility of the series.

Findings

Using the mean absolute percentage error to check the forecasting accuracy of the model, it is proved that the produced outcomes are accurate. Therefore, the proposed model could be recommended for forecasting the Egyptian natural gas consumption.

Originality/value

The contribution of this research lies in the ingenuity of using time series models that accommodate both daily and weekly seasonal patterns, which have not been taken into consideration before, in addition to the series volatility to forecast hourly consumption of natural gas in Egypt.

Details

Journal of Humanities and Applied Social Sciences, vol. 2 no. 4
Type: Research Article
ISSN:

Keywords

Open Access
Article
Publication date: 25 January 2024

Richard Byrne, Declan Patton, Zena Moore, Tom O’Connor, Linda Nugent and Pinar Avsar

This systematic review paper aims to investigate seasonal ambient change’s impact on the incidence of falls among older adults.

Abstract

Purpose

This systematic review paper aims to investigate seasonal ambient change’s impact on the incidence of falls among older adults.

Design/methodology/approach

The population, exposure, outcome (PEO) structured framework was used to frame the research question prior to using the Preferred Reporting Items for Systematic Reviews and Meta-Analysis framework. Three databases were searched, and a total of 12 studies were found for inclusion, and quality appraisal was carried out. Data extraction was performed, and narrative analysis was carried out.

Findings

Of the 12 studies, 2 found no link between seasonality and fall incidence. One study found fall rates increased during warmer months, and 9 of the 12 studies found that winter months and their associated seasonal changes led to an increase in the incidence in falls. The overall result was that cooler temperatures typically seen during winter months carried an increased risk of falling for older adults.

Originality/value

Additional research is needed, most likely examining the climate one lives in. However, the findings are relevant and can be used to inform health-care providers and older adults of the increased risk of falling during the winter.

Details

Working with Older People, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1366-3666

Keywords

Open Access
Article
Publication date: 16 July 2021

Md Ozair Arshad, Shahbaz Khan, Abid Haleem, Hannan Mansoor, Md Osaid Arshad and Md Ekrama Arshad

Covid-19 pandemic is a unique and extraordinary situation for the globe, which has potentially disrupted almost all aspects of life. In this global crisis, the tourism and…

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Abstract

Purpose

Covid-19 pandemic is a unique and extraordinary situation for the globe, which has potentially disrupted almost all aspects of life. In this global crisis, the tourism and hospitality sector has collapsed in almost all parts of the world, and the same is true for India. Therefore, this paper aims to investigate the impact of Covid-19 on the Indian tourism industry.

Design/methodology/approach

This study develops an appropriate model to forecast the expected loss of foreign tourist arrivals (FTAs) in India for 10 months. Since the FTAs follow a seasonal trend, seasonal autoregressive integrated moving average (SARIMA) method has been employed to forecast the expected FTAs in India from March 2020 to December 2020. The results of the proposed model are then compared with the ones obtained by Holt-Winter's (H-W) model to check the robustness of the proposed model.

Findings

The SARIMA model seeks to manifest the monthly arrival of foreign tourists and also elaborates on the progressing expected loss of foreign tourists arrive for the next three quarters is approximately 2 million, 2.3 million and 3.2 million, respectively. Thus, in the next three quarters, there will be an enormous downfall of FTAs, and there is a need to adopt appropriate measures. The comparison demonstrates that SARIMA is a better model than H-W model.

Originality/value

Several studies have been reported on pandemic-affected tourism sectors using different techniques. The earlier pandemic outbreak was controlled and region-specific, but the Covid-19 eruption is a global threat having potential ramifications and strong spreading power. This work is one of the first attempts to study and analyse the impact of Covid-19 on FTAs in India.

Details

Journal of Tourism Futures, vol. 9 no. 1
Type: Research Article
ISSN: 2055-5911

Keywords

Open Access
Article
Publication date: 31 December 2020

Totakura Bangar Raju, Pradeep Chauhan, Saurabh Tiwari and Vishal kashav

This paper inspects in detail the seasonality (deterministic) in container freight rates, and compares seasonality patterns in different freight rate indices. A deterministic…

Abstract

This paper inspects in detail the seasonality (deterministic) in container freight rates, and compares seasonality patterns in different freight rate indices. A deterministic seasonality unit root test is performed to achieve set objectives. This study concludes that all the indices (tested in this paper) exhibit significant deterministic seasonality. For January and August, there is no seasonal effect observed in all five series. At the same time, all the indices except Exports from Europe Rate Index (EEI) exhibit significant seasonal patterns in February, September, and December. All five indices exhibit significant seasonality during May, and the coefficient sign shows a drop in the freight rates. During March, October, and November; it is observed that only EEI exhibit significant seasonal patterns. The results could be beneficial for carriers and agents who are involved in the containerised freight transport business. Also, shippers could get a clear idea about the freight rates' nature across various trade routes.

Details

Journal of International Logistics and Trade, vol. 18 no. 4
Type: Research Article
ISSN: 1738-2122

Keywords

Open Access
Article
Publication date: 29 April 2019

Júlio Lobão

The literature provides extensive evidence for seasonality in stock market returns, but is almost non-existent concerning the potential seasonality in American depository receipts…

2848

Abstract

Purpose

The literature provides extensive evidence for seasonality in stock market returns, but is almost non-existent concerning the potential seasonality in American depository receipts (ADRs). To fill this gap, this paper aims to examine a number of seasonal effects in the market for ADRs.

Design/methodology/approach

The paper examines four ADRs for the period from April 1999 to March 2017 to look for signs of eight important seasonal anomalies. The authors follow the standard methodology of using dummy variables for the time period of interest to capture excess returns. For comparison, the same analysis on two US stock market indices is conducted.

Findings

The results show the presence of a highly significant pre-holiday effect in all return series, which does not seem to be justified by risk. Moreover, turn-of-the-month effects, monthly effects and day-of-the-week effects were detected in some of the ADRs. The seasonality patterns under analysis tended to be stronger in emerging market-based ADRs.

Research limitations/implications

Overall, the results show that significant seasonal patterns were present in the price dynamics of ADRs. Moreover, the findings lend support to the idea that emerging markets are less efficient than developed stock markets.

Originality/value

This is the most comprehensive study to date for indication of seasonal anomalies in the market for ADRs. The authors use an extensive sample that includes recent significant financial events such as the 2007/2008 financial crisis and consider ADRs with different characteristics, which allows to draw comparisons between the differential price dynamics arising in developed market-based ADRs and in the ADRs whose underlying securities are traded in emerging markets.

Details

Journal of Economics, Finance and Administrative Science, vol. 24 no. 48
Type: Research Article
ISSN: 2077-1886

Keywords

Content available
Article
Publication date: 28 March 2023

Samhita Vemuri and Ziaul Haque Munim

While previous studies focused mainly on East Asia to Europe or United States trade routes, in recent years, trade among South-East Asian countries has increased notably. The…

Abstract

Purpose

While previous studies focused mainly on East Asia to Europe or United States trade routes, in recent years, trade among South-East Asian countries has increased notably. The price of transporting a container is not fixed and can fluctuate heavily over the course of a week. Besides, extant literature only identified seasonality patterns in the container freight market, but did not explore route-varying seasonality patterns. Hence, this study analyses container freight seasonality patterns of the six South-East Asian routes of the South-East Asian Freight Index (SEAFI) and the index itself and forecasts them.

Design/methodology/approach

Data of the composite SEAFI and six routes are collected from the Shanghai Shipping Exchange (SSE) including 167 weekly observations from 2016 to 2019. The SEAFI and individual route data reflect spot rates from the Shanghai Port to South-East Asia base ports. The authors analyse seasonality patterns using polar plots. For forecasting, the study utilize two univariate models, autoregressive integrated moving average (ARIMA) and seasonal autoregressive neural network (SNNAR). For both models, the authors compare forecasting results of original level and log-transformed data.

Findings

This study finds that the seasonality patterns of the six South-East Asian container trade routes are identical in an overall but exhibits unique characteristics. ARIMA models perform better than SNNAR models for one-week ahead test-sample forecasting. The SNNAR models offer better performance for 4-week ahead forecasting for two selected routes only.

Practical implications

Major industry players such as shipping lines, shippers, ship-owners and others should take into account the route-level seasonality patterns in their decision-making. Forecast analysts can consider using the original level data without log transformation in their analysis. The authors suggest using ARIMA models in one-step and four-step ahead forecasting for majority of the routes. The SNNAR models are recommended for multi-step forecasting for Shanghai to Vietnam and Shanghai to Thailand routes only.

Originality/value

This study analyses a new shipping index, that is, the SEAFI and its underlying six routes. The authors analyze the seasonality pattern of container freight rate data using polar plot and perform forecasting using ARIMA and SNNAR models. Moreover, the authors experiment forecasting performance of log-transformed and non-transformed series.

Details

Maritime Business Review, vol. 8 no. 2
Type: Research Article
ISSN: 2397-3757

Keywords

Open Access
Article
Publication date: 4 May 2020

Dharyll Prince Mariscal Abellana, Donna Marie Canizares Rivero, Ma. Elena Aparente and Aries Rivero

This paper aims to propose a hybrid-forecasting model for long-term tourism demand forecasting. As such, it attempts to model the tourism demand in the Philippines, which is a…

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Abstract

Purpose

This paper aims to propose a hybrid-forecasting model for long-term tourism demand forecasting. As such, it attempts to model the tourism demand in the Philippines, which is a relatively underrepresented area in the literature, despite its tourism sector’s growing economic progress.

Design/methodology/approach

A hybrid support vector regression (SVR) – seasonal autoregressive integrated moving averages (SARIMA) model is proposed to model the seasonal, linear and nonlinear components of the tourism demand in a destination country. The paper further proposes the use of multiple criteria decision-making (MCDM) approaches in selecting the best forecasting model among a set of considered models. As such, a preference ranking organization method for enrichment of evaluations (PROMETHEE) II is used to rank the considered forecasting models.

Findings

The proposed hybrid SVR-SARIMA model is the best performing model among a set of considered models in this paper using performance criteria that evaluate the errors of magnitude, directionality and trend change, of a forecasting model. Moreover, the use of the MCDM approach is found to be a relevant and prospective approach in selecting the best forecasting model among a set of models.

Originality/value

The novelty of this paper lies in several aspects. First, this paper pioneers the demonstration of the SVR-SARIMA model’s capability in forecasting long-term tourism demand. Second, this paper is the first to have proposed and demonstrated the use of an MCDM approach for performing model selection in forecasting. Finally, this paper is one of the very few papers to provide lenses on the current status of Philippine tourism demand.

Details

Journal of Tourism Futures, vol. 7 no. 1
Type: Research Article
ISSN: 2055-5911

Keywords

Open Access
Article
Publication date: 30 November 2021

Bianca Bindi, Romeo Bandinelli, Virginia Fani and Margherita Emma Paola Pero

The purpose of this paper was to investigate what types of supply chain strategies (SCS) are implemented within luxury fashion companies, according to the drivers that regulate…

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Abstract

Purpose

The purpose of this paper was to investigate what types of supply chain strategies (SCS) are implemented within luxury fashion companies, according to the drivers that regulate competitiveness in this sector (brand positioning, distribution channel, type and line of product). Moreover, the objective was to define which key performance indicators (KPIs) should be measured according to the chosen strategy, and finally to evaluate the alignment of luxury fashion companies with the proposed indicators.

Design/methodology/approach

The literature review was the first step performed. Thereafter, a case study was conducted and the sample, composed of six companies, was selected, a questionnaire was then developed to guide the interviews, after which the data were collected. From the data, a primary case analysis was conducted, from which cross-case patterns were also researched.

Findings

From the results obtained, it was possible to state that companies involved in the case study adopted different SCS within the same company according to the drivers that regulate the sector competitiveness. As a result, the product line was shown to be the only driver that affected both the alignment between the expected and implemented SCS, respectively, and the alignment with the selected KPIs.

Originality/value

The paper provides valuable insights to companies that are trying to align SCS and KPIs. The close link between these aspects had not yet been explored previously. In particular, there were no indications about the KPIs that have to be measured for a specific SCS.

Details

International Journal of Productivity and Performance Management, vol. 72 no. 5
Type: Research Article
ISSN: 1741-0401

Keywords

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