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Capt. Kaizad Doctor

Dr Captain Kaizad Doctor

Visiting Scholar

Kaizad is the Director of Modelling at MSI, a maritime consultancy. He is responsible for empirical research, statistical and computational modelling, database management, new product development and optimisation of existing systems. His interests are in the field of shipping economics, asset (loan) pricing and valuation, statistical arbitrage and applied econometrics.

Kaizad also had an extensive seagoing career with Exxon Mobil and Mitsui on LPG, VLCCs and dry bulk carriers, culminating with two years in command. He has taught courses in quantitative methods, probability theory and econometrics at the masters and undergraduate level.

Econometrics, statistical modelling, stochastic processes, risk management, machine learning, commodity trading, graph theory

MSI, financial modelling, director
Vesselsvalue, analytics, director
ExxonMobil and various maritime organisations, master mariner

PhD, Econometrics, Cass Business School, City, University of London: 2010–14
MRes, Finance, Cass Business School, City, University of London (Distinction): 2009–10
MSc, Shipping Trade and Finance, Cass Business School, City, University of London (Distinction): 2006–07

Professional qualifications
Master mariner, Lancaster University (Distinction): 2002–03


  • Supporting credit funds with structuring analytics, valuations, end-of-year stress tests and market intelligence and back leverage
  • Restructured loans as well as a (synthetic) CDS on behalf of banks and institutional investors
  • Modelling and pricing complex preferred equity structures, options, collars, leases etc
  • Maritime banks on IFRS9 based risk modelling
  • Middle Eastern Government on their maritime strategy

English (fluent), Hindi, Gujarati

Elected publications 

  • Transportation research – Part E
  • Economic significance of quantitative spread trading in the FFA markets, working paper
  • Evaluating the characteristics of the long memory component in FFA spreads, working paper
  • Economic significance of the persistence in hedge fund performance: a non-parametric approach, working paper
  • Economic significance of market timing rules in the forward freight agreement market

Royal Statistical Society
Baltic Exchange

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