In tanker shipping, four different but interrelated markets coexist. Sea transport services are traded in the freight market, used vessels are bought and sold in the second-hand market, new vessels are dealt within the new building vessel market, and obsolete vessels are scrapped in the demolition market. These four shipping segments are linked together. The objectives of this chapter are to elaborate on the four shipping markets and to examine their inter-relationships. Our findings suggest that freight rate is associated with vessel prices. The determinants of fleet size include seaborne trade and freight rate.
The Tanker Shipping Market
Shipping and Transp. Logistics
2012-07-25
13 pages
Article/Chapter (Book)
Electronic Resource
English
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