Portrait of Dr Nikos C. Papapostolou

Dr Nikos C. Papapostolou

Associate Director, The Costas Grammenos Centre for Shipping, Trade & Finance; Reader in Shipping Finance

Bayes Business School, Faculty of Finance

Contact

Visit Nikos C. Papapostolou

Room BR5084, Bunhill Row

Postal address

Bayes Business School
106 Bunhill Row
London
EC1Y 8TZ
United Kingdom

About

Overview

Nikos is the Director of the MSc in Shipping, Trade and Finance and a Reader in Shipping Finance at Bayes Business School. He holds a BSc in Money, Banking and Finance from the University of Birmingham, an MSc in Shipping, Trade and Finance and a PhD in Shipping Finance from City, University of London. He has been with the Costas Grammenos Centre for Shipping, Trade and Finance since 2002, where he is the Associate Director. Nikos is also the Stelios Scholars Programme Lead at Bayes Business. Finally, he is involved in Shipping Finance Executive training in collaboration with the Baltic Exchange and acts as a consultant to industry clients.

His research interests are in the field of shipping finance and investment, with a focus on capital markets, investors’ sentiment and behaviour in the shipping industry, freight options pricing and vessel valuation, technical analysis trading rules, and commodities,.

Qualifications

  • PhD in Shipping Finance, City, University of London, United Kingdom
  • MSc in Shipping, Trade and Finance, City, University of London, United Kingdom
  • BSc in Money, Banking and Finance, University of Birmingham, United Kingdom

Administrative roles

  • Director, MSc Shipping, Trade and Finance, Jan 2020 – present
  • Director Designate, MSc Shipping, Trade and Finance, Sep – Dec 2019
  • Associate Director, The Costas Grammenos Centre for Shipping, Trade and Finance, Nov 2017 – present
  • Stelios Scholarships Programme Lead, Oct 2017 – present
  • Co-Director, MSc Shipping, Trade and Finance, Sep 2015 – Dec 2016

Employment

  • Reader in Shipping Finance, City, University of London, Aug 2021 – present
  • External Examiner, MSc International Shipping and Finance, University of Reading, Reading, Jan 2016 – Dec 2019
  • Senior Lecturer in Shipping Finance, City, University of London, Aug 2013 – Jul 2021
  • Lecturer in Shipping Finance, City, University of London, Jan 2012 – Jul 2013
  • Researcher, City, University of London, Jan 2002 – Jan 2012

Memberships of professional organisations

  • International Association of Maritime Economists (IAME)
  • International Economics and Finance Society UK Chapter

Languages

Greek, Modern (1453-).

Expertise

Primary topics

  • Capital Markets
  • Commodities
  • Shipping
  • Shipping, Trade & Finance

Additional topics

  • Asset Pricing
  • Finance
  • Transportation

Industries

  • commodities
  • energy
  • oil & gas
  • shipping
  • transportation

Research students

Ahmad Abou Merhi

Attendance: Sep 2023 – present

Thesis title: Private Equity Investments in Professional Sports

Ioannis Moutzouris

Attendance: Sep 2013 – Sep 2017, full-time

Thesis title: Asset Valuation in Drybulk Shipping

Role: 2nd Supervisor

Publications

Chapters (3)

  1. Pouliasis, P.K., Papapostolou, N.C. and Visvikis, I.D. (2018). Investor Sentiment, Earnings Growth, and Volatility. Finance and Risk Management for International Logistics and the Supply Chain (pp. 109–127). Elsevier.
  2. Grammenos, C.T. and Papapostolou, N.C. (2012). Ship Finance: US High Yield Bond Market. In Talley, W.K. (Ed.), The Blackwell Companion to Maritime Economics (pp. 417–432). USA: Wiley-Blackwell. ISBN 978-1-4443-3024-3.
  3. Grammenos, C.T. and Papapostolou, N.C. (2012). Ship Finance: US Public Equity Markets. In Talley, W.K. (Ed.), The Blackwell Companion to Maritime Economics (pp. 392–416). USA: Wiley-Blackwell. ISBN 978-1-4443-3024-3.

Conference paper/proceedings

  1. Pouliasis, P., Papapostolou, N., Kyriakou, I. and Visvikis, I. (2017). Tail risk and the asset allocation problem in shipping equity portfolios. 27-30 June, Kyoto, Japan.

Journal articles (19)

  1. Pouliasis, P.K., Papapostolou, N.C., Tamvakis, M.N. and Moutzouris, I.C. (2024). Carbon Emissions in the U.S.: Factor Decomposition and Cross-State Inequality Dynamics. The Energy Journal, 45(1). doi:10.5547/01956574.44.6.ppou.

    [publisher’s website]

  2. Ballotta, L., Fusai, G., Kyriakou, I., Papapostolou, N.C. and Pouliasis, P.K. (2020). Risk management of climate impact for tourism operators: An empirical analysis on ski resorts. Tourism Management, 77, pp. 104011–104011. doi:10.1016/j.tourman.2019.104011.

    [publisher’s website]

  3. Pouliasis, P.K., Visvikis, I.D., Papapostolou, N.C. and Kryukov, A.A. (2020). A novel risk management framework for natural gas markets. Journal of Futures Markets, 40(3), pp. 430–459. doi:10.1002/fut.22067.

    [publisher’s website]

  4. Pouliasis, P.K. and Papapostolou, N.C. (2018). Volatility and Correlation Timing: The Role of Commodities. Journal of Futures Markets, 38(11), pp. 1407–1439. doi:10.1002/fut.21939.
  5. Pouliasis, P.K., Papapostolou, N.C., Kyriakou, I. and Visvikis, I.D. (2018). Shipping equity risk behavior and portfolio management. Transportation Research Part A: Policy and Practice, 116, pp. 178–200. doi:10.1016/j.tra.2018.06.016.

    [publisher’s website]

  6. Kyriakou, I., Pouliasis, P., Papapostolou, N.C. and Nomikos, N.K. (2018). Income Uncertainty and the Decision to Invest in Bulk Shipping. European Financial Management, 24(3), pp. 387–417. doi:10.1111/eufm.12132.
  7. Kyriakou, I., Pouliasis, P.K., Papapostolou, N.C. and Andriosopoulos, K. (2017). Freight derivatives pricing for decoupled mean-reverting diffusion and jumps. Transportation Research Part E: Logistics and Transportation Review, 108, pp. 80–96. doi:10.1016/j.tre.2017.09.002.

    [publisher’s website]

  8. Pouliasis, P., Kyriakou, I. and Papapostolou, N. (2017). On equity risk prediction and tail spillovers. International Journal of Finance & Economics, 22(4), pp. 379–393. doi:10.1002/ijfe.1594.

    [publisher’s website]

  9. Papapostolou, N.C., Pouliasis, P.K. and Kyriakou, I. (2017). Herd behavior in the drybulk market: an empirical analysis of the decision to invest in new and retire existing fleet capacity. Transportation Research Part E: Logistics and Transportation Review, 104, pp. 36–51. doi:10.1016/j.tre.2017.05.007.

    [publisher’s website]

  10. Kyriakou, I., Pouliasis, P.K. and Papapostolou, N.C. (2016). Jumps and stochastic volatility in crude oil prices and advances in average option pricing. Quantitative Finance, 16(12), pp. 1859–1873. doi:10.1080/14697688.2016.1211798.

    [publisher’s website]

  11. Papapostolou, N.C., Pouliasis, P.K., Nomikos, N.K. and Kyriakou, I. (2016). Shipping investor sentiment and international stock return predictability. Transportation Research Part E: Logistics and Transportation Review, 96, pp. 81–94. doi:10.1016/j.tre.2016.10.006.

    [publisher’s website]

  12. Kyriakou, I., Nomikos, N.K., Papapostolou, N.C. and Pouliasis, P.K. (2016). Affine-Structure Models and the Pricing of Energy Commodity Derivatives. European Financial Management, 22(5), pp. 853–881. doi:10.1111/eufm.12071.
  13. Papapostolou, N.C., Nomikos, N.K., Pouliasis, P.K. and Kyriakou, I. (2014). Investor Sentiment for Real Assets: The Case of Dry Bulk Shipping Market*. Review of Finance, 18(4), pp. 1507–1539. doi:10.1093/rof/rft037.

    [publisher’s website]

  14. Andriosopoulos, K., Doumpos, M., Papapostolou, N.C. and Pouliasis, P.K. (2013). Portfolio optimization and index tracking for the shipping stock and freight markets using evolutionary algorithms. Transportation Research Part E: Logistics and Transportation Review, 52, pp. 16–34. doi:10.1016/j.tre.2012.11.006.
  15. Nomikos, N.K., Kyriakou, I., Papapostolou, N.C. and Pouliasis, P.K. (2013). Freight options: Price modelling and empirical analysis. Transportation Research Part E: Logistics and Transportation Review, 51, pp. 82–94. doi:10.1016/j.tre.2012.12.001.

    [publisher’s website]

  16. Grammenos, C.T. and Papapostolou, N.C. (2012). US shipping initial public offerings: Do prospectus and market information matter? Transportation Research Part E: Logistics and Transportation Review, 48(1), pp. 276–295. doi:10.1016/j.tre.2011.07.009.
  17. Grammenos, C.T., Nomikos, N.K. and Papapostolou, N.C. (2008). Estimating the probability of default for shipping high yield bond issues. Transportation Research Part E: Logistics and Transportation Review, 44(6), pp. 1123–1138. doi:10.1016/j.tre.2007.10.005.
  18. Grammenos, C.T., Alizadeh, A.H. and Papapostolou, N.C. (2007). Factors affecting the dynamics of yield premia on shipping seasoned high yield bonds. Transportation Research Part E: Logistics and Transportation Review, 43(5), pp. 549–564. doi:10.1016/j.tre.2006.07.002.
  19. Dikos, G. and Papapostolou, N.C. (2002). The Assessment of Market Efficiency in the Shipping Sector: A New Approach. Journal of Maritime Policy and Management, 29, pp. 179–181. doi:10.1080/03088830110086347.

Reports (4)

  1. Nomikos, N., Kyriakou, I., Papapostolou, N.C. and Pouliasis, P.K. (2012). A new model for freight. Baltic Magazine, Think Publishing.
  2. Nomikos, N.K., Papapostolou, N.C. and Pouliasis, P.K. (2011). Analysis of Volatility and Correlation for CME Steel Products. London: Chicago Mercantile Exchange - CME Group.
  3. Nomikos, N. and Papapostolou, N.C. (2006). High Yield Risks. Lloyd's Shipping Economist.
  4. Alizadeh, A. and Papapostolou, N.C. (2004). The Value of Shipping Bonds. Lloyd's Shipping Economist.

Other

  1. Lee, T., Moutzouris, I., Papapostolou, N.C. and Fatouh, M. (2023). Foreign Exchange Hedging using Regime-Switching Models: The Case of Pound Sterling.

    [publisher’s website]

Professional activities

Editorial activity (14)

  1. International Journal of Finance and Economics, Referee, 2022 – present.
  2. Review of Behavioral Finance, Referee, Jun 2021 – present.
  3. Review of Financial Economics, Referee, 2021 – present.
  4. European Financial Management, Referee, 2020 – present.
  5. Journal of Transport Economics and Policy, Referee, 2020 – present.
  6. Transportation Research Part D: Transport and Environment, Referee, Jul 2019 – present.
  7. International Journal of Financial Markets and Derivatives, Referee, 2017 – present.
  8. Quantitative Finance and Economics, Referee, 2017 – present.
  9. Journal of Commodity Markets, Referee, 2017 – present.
  10. International Journal of Financial Engineering and Risk Management, Referee, 2016 – present.
  11. Maritime Policy and Management, Referee, 2015 – present.
  12. Energy Economics, Referee, 2013 – present.
  13. The European Journal of Finance, Referee, 2013 – present.
  14. Transportation Research Part E: Logistics and Transportation Review, Referee, 2010 – present.

Events/conferences (15)

  1. International Association of Maritime Economists. (Conference) Kyoto, Japan (2017).
    Paper: Tail risk and the asset allocation problem in shipping equity portfolios
    Author: Pouliasis, P.
    Co-authors: Papapostolou, N.C.; Kyriakou, I.; Visvikis, I.
  2. 3rd Symposium on Quantitative Finance and Risk Analysis (QFRA 2017). (Conference) Corfu, Greece (2017).
    Paper: Non-parametric and semi-parametric modelling of weather variables and cost-revenue analysis of ski resort establishments.
    Author: Ballota, L.
    Co-authors: Fusai, G.; Kyriakou, I.; Pouliasis, P.; Papapostolou, N.
  3. 2016 Conference - Spring 2016 Conference of the Multinational Finance Society. (Conference) Lemesos, Cyprus (2016).
    Paper: Vessel Valuation: Model Formulation, Estimation and Optimal Investment Decision
    Author: Kyriakou I.
    Co-authors: Pouliasis P.K., Papapostolou N.C., Nomikos N.K.
  4. 2016 Conference - 2nd Symposium on Quantitative Finance and Risk Analysis (QFRA 2016). (Conference) Rhodes, Greece (2016).
    Paper: Vessel Valuation: Model Formulation, Estimation and Optimal Investment Decision
    Author: Kyriakou I.
    Co-authors: Pouliasis P.K., Papapostolou N.C., Nomikos N.K.
  5. 1st Symposium on Quantitative Finance and Risk Analysis (QFRA 2015). (Conference) Santorini, Greece (2015).
    Paper: Real Assets Investor Sentiment and International Stock Return Predictability
    Author: Papapostolou N.C.
    Co-authors: Pouliasis P.K., Nomikos N.K., Kyriakou I.
  6. 1st Symposium on Quantitative Finance and Risk Analysis (QFRA 2015). (Conference) Santorini, Greece (2015).
    Paper: Jumps and stochastic volatility in crude oil prices with application in option pricing
    Author: Kyriakou I.
    Co-authors: Pouliasis P.K., Papapostolou N.C.
  7. Winter 2014 Conference of the Multinational Finance Society. (Conference) Athens, Greece (2014).
    Paper: Affine-structure models and the pricing of energy commodity derivatives
    Author: Kyriakou I.
    Co-authors: Nomikos N.K., Pouliasis P.K., Papapostolou N.C.
  8. International Association of Maritime Economists - IAME. (Conference) Norfolk, Virginia USA (2014).
    Paper: Real Assets Investor Sentiment and International Stock Return Predictability
    Author: Papapostolou N.C.
    Co-authors: Pouliasis P.K., Nomikos N.K., Kyriakou I.
  9. Shipping Sentiment. (Seminar) Cass Business School (2013). Organising Committee.
    Paper: Investor Sentiment for Real Assets: The Case of Drybulk Shipping Market
    Author: Papapostolou N.C.
    Co-authors: Nomikos, N.; Pouliasis P.K.; Kyriakou, I.
  10. Cass-ESCP 51st Meeting of the Euro Working Group on Commodities and Financial Modelling. (Conference) London, UK (2013).
    Paper: Pricing of Asian-style options with discrete sampling under affine models: Application and analysis in oil markets
    Author: Kyriakou I
    Co-authors: Nomikos N.K., Pouliasis P.K. and Papapostolou N.C.
  11. International Association of Maritime Economists (IAME). (Conference) Copenhagen, Denmark (2009).
    Paper: Optimal Portfolio Selection and Index Tracking for the Shipping Equity Markets
    Author: Papapostolou N
    Co-authors: Pouliasis P; Andriosopoulos K.
  12. International Association of Maritime Economists (IAME). (Conference) Limassol, Cyprus (2005).
    Paper: Estimating the Probability of Default for Shipping high Yield Bond Issues
    Author: Papapostolou N
    Co-authors: Grammenos C. Th.; Nomikos N.
  13. Maritime Economics and Business Seminar. (Conference) Cass Business School, London, UK (2004). Organising Committee.
    Paper: Estimating the Probability of Default for Shipping high Yield Bond Issues
    Author: Grammenos, C.Th.
    Co-authors: Nomikos, N.; Papapostolou, N.C.
  14. International Association of Maritime Economists (IAME). (Conference) Izmir, Turkey (2004).
    Paper: Factors Affecting the Dynamics of Yield Premia on Shipping Seasoned High Yield Bonds
    Author: Papapostolou N
    Co-authors: Grammenos C. Th.; Alizadeh A.
  15. 19th Annual Meeting of the Association Francaise de Finance (AFFI). (Conference) Strasbourg, France (2002).
    Paper: Options Implied PDFs: What Causes Skewness and Kurtosis, Evidence from the UK Market
    Author: Papapostolou N
    Co-authors: Dikos G.

Media appearances (5)

  1. Νίκος Παπαποστόλου: Το νέο αίμα στις ναυτιλιακές σπουδές του Σίτι. (2015) Η Καθημερινή.
  2. Today's risk return profile of shipping is not attractive to equity capital. (2014) Shipping & Finance (newspaper).
  3. Changing face of ship finance. (2013) Lloyd's List (newspaper).
  4. Sentiment index guides asset play. (2013) Lloyd's List (newspaper).
  5. Gauging the mood of shipping. (2013) Lloyd's List (newspaper).