The parameters of Panamax dry bulk carrier in the year-term lease market was estimated by the application of financial econometrics theory, the investment threshold of year-term-lease Panamax dry bulk carrier was calculated by the model and parameter sensitivity analysis was made. 应用金融计量经济学的理论对巴拿马型干散货船一年期期租市场中的参数进行估计,通过模型计算得出巴拿马型干散货船一年期期租的投资临界值并对参数进行敏感性分析。