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Tanker Ownership in non-OECD countries and the Rise of Government-Owned Fleets

Author

Listed:
  • Al Wood

    () (Institute for International Economic Policy, George Washington University)

Abstract

This 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.

Suggested Citation

  • Al Wood, 2011. "Tanker Ownership in non-OECD countries and the Rise of Government-Owned Fleets," Working Papers 2011-07, The George Washington University, Institute for International Economic Policy.
  • Handle: RePEc:gwi:wpaper:2011-07
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    File URL: http://www.gwu.edu/~iiep/assets/docs/papers/Wood_IIEPWP2011-07.pdf
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    Cited by:

    1. Wang, He & Huang, Simin & Liu, Zhen & Zheng, Li, 2013. "Optimal tanker chartering decisions with spot freight rate dynamics considerations," Transportation Research Part E: Logistics and Transportation Review, Elsevier, vol. 51(C), pages 109-116.

    More about this item

    Keywords

    petroleum; oil tanker; maritime law; OECD;

    JEL classification:

    • F52 - International Economics - - International Relations, National Security, and International Political Economy - - - National Security; Economic Nationalism
    • 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

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