Critically analyse the relation between the freight market and the ship sale and purchase market, within the various stages of a complete shipping cycle.

Critically analyse the relation between the freight market and the ship sale and purchase market, within the various stages of a complete shipping cycle.
Collect the appropriate data from Clarkson’s database. Then employ the relevant regression technique in order to identify the relation between the freight market and the ship sale and purchase market. Select Panamax Bulk Carriers. Afterwards, critically analyse the findings and reach a conclusion