Dr Roar Ådland

Roar Ådland is a Professor of Shipping Economics at the Norwegian School of Economics (NHH) in Bergen. The chair professorship is financed by a donation from the Bergen Shipowners’ Association. He graduated with a M.Sc. in Marine technology (ship operation) from the Norwegian University of Science and Technology in 1995, followed by the Cand Oecon degree in Business Economics from NHH in 1998 and a second M.Sc. in Ocean Systems Management from the Massachusetts Insitute of Technology (MIT) in 2000. Professor Ådland received his Ph.D.-degree in Ocean Systems Management from MIT in 2003.

After completing his Ph.D., Ådland started working for Clarksons PLC in London, one of the largest shipbroking companies in the world. He was first employed as an analyst in their Clarkson Research Services subsidiary and later as a freight derivatives trader and portfolio manager in Clarkson Fund Management, the management company for Clarkson’s shipping hedge fund business, until 2011.

At NHH, Ådland is involved with teaching shipping-related courses, both at the Bachelor and Master degree levels. On the research front, his main expertise and area of interest is within “Decision-making and Investments under Uncertainty”. This encompasses both how to model price and other risks in the shipping markets, such as freight rate risk and marine fuel price risk, both in the physical spot and forward derivative markets, but equally important how to apply such models in practical decision making in the industry. Examples might involve the modeling of default risk in period timecharters, the pricing of freight options, the economic evaluation of exhaust abatement technology, or dynamic vessel speed optimization. Ådland takes particular interest in the bulk shipping markets (traditionally the tanker and drybulk markets) as they are transparent and data rich, yet extremely volatile and with well-developed associated freight derivatives markets.