Jørgensen, Peter Løchte; Giovanni, Domenico De - In: Applied Mathematical Finance 17 (2010) 5, pp. 399-430
The article studies the valuation and optimal management of Time Charters with Purchase Options (T/C-POPs), which is a specific type of asset lease with embedded options that is common in shipping markets. T/C-POPs are economically significant and sometimes account for more than half of the...