Please use this identifier to cite or link to this item:
https://www.um.edu.mt/library/oar/handle/123456789/106401
Title: | An empirical study of voyage chartering practices in the tanker market |
Authors: | D'agostini, Enrico |
Keywords: | Charter-parties Freight and freightage -- Rates Shipping Tankers -- Economic aspects Contracts, Maritime |
Issue Date: | 2018 |
Citation: | D'agostini, E. (2018). An empirical study of voyage chartering practices in the tanker market. The Journal of Maritime Business, (41), 209-232. |
Abstract: | Chartering activities play a major role in the shipping industry. The number of charter-parties fixed in a period of time can reflect the status of the world economy by providing an indication of the import and exports volumes of worldwide raw materials. The tanker market is the most important segment in chartering as it is the largest for weight and value of liquid bulk cargoes transported. The study has a threefold objective: 1) to find out which factors among the ones taken into account (DWT, vessel’s age, frequency, cargo quantity, bunker prices, Clarkson weekly tanker index, nautical miles) are most likely to influence freight rates determination and what their magnitude is in the tanker segment in 2016; 2) to investigate whether charters’ frequency to fix charter-parties is a major factor in freight rates determination and; 3) to find out differences in the magnitude of selected factors by comparing ship size (Aframax vs. Suezmax vs VLCC). The findings of the paper show that factors with the largest effects and most likely to impact freight rates determination are cargo quantity, nautical miles, bunker price and frequency. Secondly, the frequency play only a minor role in affecting freight rates when Ordinary Least Square (OLS) is applied. Finally, when the results obtained are compared according to ship’s type, there are some significant differences in results as variables likely to influence freight rates show distinctive magnitudes. |
URI: | https://www.um.edu.mt/library/oar/handle/123456789/106401 |
Appears in Collections: | Scholarly Works - FacEMAMAn |
Files in This Item:
File | Description | Size | Format | |
---|---|---|---|---|
An_empirical_study_of_voyage_chartering_practices_in_the_tanker_market_2018.pdf Restricted Access | 222.98 kB | Adobe PDF | View/Open Request a copy |
Items in OAR@UM are protected by copyright, with all rights reserved, unless otherwise indicated.