Connectedness between climate variables and maritime markets: Time-varying dynamics and sustainability perspective

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dc.authorid0000-0002-2684-184X
dc.contributor.authorTarkun, Savas
dc.date.accessioned2026-02-08T15:15:22Z
dc.date.available2026-02-08T15:15:22Z
dc.date.issued2025
dc.departmentBursa Teknik Üniversitesi
dc.description.abstractThis study examines the impact of sea surface temperatures and global temperature anomalies on maritime markets using the TVP-VAR based Connectedness Decomposition Approach. The results indicate that tanker markets (BDTI and BCTI) are more sensitive to climate variables, while dry bulk markets demonstrate greater resilience. The Total Connectedness Index (TCI) reveals that market integration intensifies during global economic crises and pandemic periods. Findings support a pairwise relationship between freight markets, carbon emissions, and climate variability. In line with the IMO 2023 GHG Strategy, this study proposes short-, medium-, and long-term sustainability strategies to enhance the maritime sector's adaptation to climate policies. The results highlight the crucial role of maritime markets in environmental sustainability efforts.
dc.identifier.doi10.1016/j.marpolbul.2025.118170
dc.identifier.issn0025-326X
dc.identifier.issn1879-3363
dc.identifier.pmid40398022
dc.identifier.scopus2-s2.0-105005191094
dc.identifier.scopusqualityQ1
dc.identifier.urihttps://doi.org/10.1016/j.marpolbul.2025.118170
dc.identifier.urihttps://hdl.handle.net/20.500.12885/5744
dc.identifier.volume218
dc.identifier.wosWOS:001498896300005
dc.identifier.wosqualityQ1
dc.indekslendigikaynakWeb of Science
dc.indekslendigikaynakScopus
dc.indekslendigikaynakPubMed
dc.language.isoen
dc.publisherPergamon-Elsevier Science Ltd
dc.relation.ispartofMarine Pollution Bulletin
dc.relation.publicationcategoryMakale - Uluslararası Hakemli Dergi - Kurum Öğretim Elemanı
dc.rightsinfo:eu-repo/semantics/closedAccess
dc.snmzWOS_KA_20260207
dc.subjectMaritime markets
dc.subjectClimate variables
dc.subjectTVP-VAR
dc.subjectConnectedness
dc.subjectSustainability
dc.titleConnectedness between climate variables and maritime markets: Time-varying dynamics and sustainability perspective
dc.typeArticle

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