Financing Credit Risk Rating of Ro-Ro and ROPAX Shipping Companies: An Application to the Greek Coastal Shipping Industry

摘要

This paper presents a methodology for calculating financing credit risk rating for shippingcompanies active in Ro-Ro (Roll on-Roll off ) and ROPAX (combined passenger and vehiclevessels) services. The methodology is based on a simple multi-attribute rating technique(SMART) and a judgmental approach regarding weights and scoring. Scoring is based on thestandard assessment measures employed by credit rating services. The Ro-Ro and ROPAXshipping services have a significant impact on the connectivity of island regions (e.g. EastMediterranean) and the viability and creditworthiness of the shipping companies depend on aseries of specialized factors. The paper presents and analyses these factors along a structuredrating and scoring approach. An application of this approach on real data of a shipping companyis also presented and analyzed.