Tanker Ownership in non-OECD countries and the Rise of Government-Owned Fleets
AbstractThis paper provides an historical perspective of the global oil-tanker market, the international tanker fleet, and the major trends in tanker ownership. The available data indicate that outside the OECD, more than half of large tanker capacity is ultimately owned by governments compared to less than one percent within the OECD. A positive correlation is identified between oil imports and tanker ownership at the national level, but only for non-OECD countries. This result suggests that the forecasted increases in oil imports and exports by emerging economies over the next two decades are likely to result in higher levels of government ownership of the international oil tanker fleet.
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Bibliographic InfoPaper provided by The George Washington University, Institute for International Economic Policy in its series Working Papers with number 2011-07.
Length: 19 pages
Date of creation: Jul 2011
Date of revision:
petroleum; oil tanker; maritime law; OECD;
Find related papers by JEL classification:
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- L33 - Industrial Organization - - Nonprofit Organizations and Public Enterprise - - - Comparison of Public and Private Enterprise and Nonprofit Institutions; Privatization; Contracting Out
- L71 - Industrial Organization - - Industry Studies: Primary Products and Construction - - - Mining, Extraction, and Refining: Hydrocarbon Fuels
- L91 - Industrial Organization - - Industry Studies: Transportation and Utilities - - - Transportation: General
This paper has been announced in the following NEP Reports:
- NEP-ALL-2011-10-09 (All new papers)
- NEP-CWA-2011-10-09 (Central & Western Asia)
- NEP-ENE-2011-10-09 (Energy Economics)
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