If you aren’t familiar with the screen grab below – highlighted in red: a suggested average freight rate formula – well, you ought to be.
(Please click to expand and read on; it’s more intuitive than you may think)
Perhaps…
The model can be embellished and simplified and yet it may not be the finished product, as the authors hinted at the time of publishing, but was part of a comprehensive and snappy research trying to figure out “the effect of oil prices …
