Analisis Faktor Faktor Yang Berpengaruh Terhadap Harga Transaksi Kapal Tanker

DJOKO TRIYONO, Wakhid Slamet Ciptono, M.B.A., M.P.M., Ph.D.

2015 | Tesis | S2 Ekonomika Pembangunan

Penelitian ini bertujuan untuk menganalisis faktor-faktor yang mempengaruhi harga transaksi kapal tanker, seperti kapasitas/bobot mati kapal tanker (DWT), umur kapal tanker, biaya pembuatan baru kapal tanker (newbuilding cost), tarif sewa kapal tanker (timecharter rate), tingkat suku bunga pinjaman LIBOR, harga minyak dunia dan struktur lambung kapal tanker sebagai variabel boneka (dummy variable). Hipotesis yang diajukan adalah bobot mati kapal tanker (DWT), biaya pembuatan baru kapal tanker (newbuilding cost), tarif sewa kapal tanker (timecharter rate), tingkat suku bunga pinjaman LIBOR dan harga minyak dunia berpengaruh positif terhadap harga transaksi kapal tanker, sedangkan umur kapal tanker berpengaruh negatif terhadap harga transaksi kapal tanker. Kapal dengan struktur lambung ganda (double hull) bernilai lebih tinggi dibanding dengan kapal dengan struktur lambung tunggal (single hull). Alat analisis dalam penelitian ini adalah regresi linier berganda dengan kuadrat terkecil. Variabel bebas yaitu bobot mati kapal tanker (DWT), umur kapal tanker, biaya pembuatan baru kapal tanker, tarif sewa kapal tanker, tingkat suku bunga pinjaman LIBOR, harga minyak dunia dan struktur lambung kapal tanker sebagai variabel boneka, sedangkan variabel terikatnya adalah harga transaksi kapal tanker. Sampel yang digunakan berjumlah 216 data transaksi kapal tanker yang merupakan jenis data cross section. Sampel data didapat dari agen jual beli kapal dengan sebaran data mulai tahun 2001 sampai dengan tahun 2011. Hasil analisis penelitian adalah sebagai berikut, bobot mati kapal/kapasitas kapal tanker berpengaruh positif secara signifikan terhadap harga transaksi kapal tanker, bertambahnya kapasitas sebesar 1 persen Dead Weight Tonnage (DWT) mengakibatkan kenaikan harga transaksi kapal tanker sebesar 0,096 persen, Umur kapal tanker berpengaruh negatif secara signifikan terhadap harga transaksi kapal tanker, bertambahnya umur kapal tanker sebesar 1 persen satuan umur mengakibatkan penurunan harga transaksi kapal tanker sebesar 1,26 persen. Biaya membangun baru kapal tanker berpengaruh positif secara signifikan terhadap harga transaksi kapal tanker, bertambahnya biaya membangun baru kapal tanker sebesar 1 persen mengakibatkan kenaikan harga transaksi kapal tanker sebesar 0,48 persen. Biaya sewa kapal tanker berpengaruh positif secara signifikan terhadap harga transaksi kapal tanker, bertambahnya biaya sewa kapal tanker sebesar 1 persen per hari mengakibatkan kenaikan harga transaksi kapal tanker sebesar 0,415 persen. Tingkat suku bunga pinjaman antar bank LIBOR berpengaruh positif secara signifikan terhadap harga transaksi kapal tanker, bertambahnya tingkat suku bunga pinjaman sebesar 1 basis nilai mengakibatkan kenaikan harga transaksi kapal tanker sebesar 0,058 persen. Harga minyak mentah dunia tidak berpengaruh secara signifikan terhadap harga transaksi kapal. Harga transaksi kapal tanker dengan struktur lambung kapal ganda (double hull) rata rata lebih tinggi sebesar 31,4 persen dibanding struktur lambung kapal tunggal (single hull).

This study aims to analyze factors that influence on the transaction price of the tankship, such as the capacity of the tankship (Dead Weight Tonnage), tankship age, tankship newbuilding cost, tankship timecharter rate, interbank loan interest London Interbank Offered Rate (LIBOR), world crude oil price, and tankship hull structure for the dummy variable. The hypothesis are put forward the capacity of the tankship (Dead Weight Tonnage), tankship newbuilding cost, tankship timecharter rate, interbank loan interest London Interbank Offered Rate (LIBOR), world crude oil price are have a positive affect on the transaction price of tankship, and then the tankship age has a negative effect on the transaction price of tankship. The double hull tankship has a higher transaction price than the single one. The analysis tools used in this study was a multiple linear regression with least squares. The independent variables used are the capacity of the tankship (Dead Weight Tonnage), tankship age, tankship newbuilding cost, tankship timecharter rate, interbank loan interest London Interbank Offered Rate (LIBOR), world crude oil price, and tankship hull structure for the dummy variable. The dependent variable is the transaction price of the tankship. The sample data used amounted to 216 data which are a type of cross sectional data. The sample data are from shipbroker and the distribution of data are from 2001 to 2011. The results of analysis can be described as follows. The capacity of the tankship (Dead Weight Tonnage) has a significantly positive affect on the transaction price of tankship. Each additional 1 percent capacity of the tankship, it will increase on the transaction price of the tankship of 0,096 percent. The tankship age has a significantly negative affect on the transaction price of tankship. Each additional 1 percent tankship unit age, it will decrease on the transaction price of the tankship of 1.26 percent. The newbuilding cost of the tankship has a significantly positive affect on the transaction price of tankship. Each additional 1 percent of newbuilding cost of tankship it will increase on the transaction price of the tankship of 0.48 percent. The timecharter rate of the tankship has a significantly positive affect on the transaction price of tankship. Each additional 1 percent/day of timecharter rate of the tankship it will increase on the transaction price of the tankship of 0.415 percent. The interbank loan interest London Interbank Offered Rate (LIBOR), has a significantly positive affect on the transaction price of tankship. Each additional 1 base point of LIBOR rate it will increase on the transaction price of the tankship of 0.058 percent. The world crude oil price does not have a significant affect on the transaction price of tankship. The tankship transaction price captures from the different effects on the double and the single hulls, it indicates that the double hull structure has a higher average transaction price of about 31.4 percent than the single one.

Kata Kunci : harga transaksi kapal tanker, kapasitas/bobot mati kapal, umur kapal, biaya pembuatan baru kapal, biaya sewa kapal, tingkat suku bunga pinjaman LIBOR, harga minyak mentah dunia, struktur lambung kapal/Tankship transaction price, tankship capacity, tankshi