Abstract This article uses structural equation modeling to analyze the various relationships between supply (fleet size), demand (in ton-miles), freight rates, and newbuilding and secondhand vessel prices in the very large gas carrier (VLGC) market. The paper establishes the high volatility of demand for VLGCs and its significant impact on freight rates. Furthermore, freight rates are shown to be the dominant factor affecting secondhand vessel prices. The influence of freight rates on newbuilding prices is rather indirect, through secondhand prices. The research also shows that supply and demand factors have little explanatory power for vessel price movements. This paper contributes to a better understanding of the VLGC market, which is growing rapidly but still remains under-researched. Unlike other bulk shipping markets with diversified trading patterns and cargo bases, the main VLGC trading routes are niche, thus creating more price volatility. In practical terms, our results should assist shipowners and related companies to understand changes in demand and fleet size and their effects on freight rates and ship prices, which in turn, could aid in chartering and investment decisions.


    Zugriff

    Zugriff prüfen

    Verfügbarkeit in meiner Bibliothek prüfen

    Bestellung bei Subito €


    Exportieren, teilen und zitieren



    Titel :

    An integrated analysis of interrelationships within the very large gas carrier (VLGC) shipping market


    Beteiligte:
    Bai, Xiwen (Autor:in) / Lam, Jasmine Siu Lee (Autor:in)

    Erschienen in:

    Erscheinungsdatum :

    17.10.2017


    Format / Umfang :

    18 pages




    Medientyp :

    Aufsatz (Zeitschrift)


    Format :

    Elektronische Ressource


    Sprache :

    Englisch




    VLGC sector takes a breather

    Online Contents | 2012



    Shipping within the framework of a single European market

    Brooks, Mary R. / Button, Kenneth J. | Taylor & Francis Verlag | 1992



    Carrier for shipping engineering

    YU CHANG'AN | Europäisches Patentamt | 2021

    Freier Zugriff