IDEAS home Printed from https://ideas.repec.org/p/hal/journl/hal-03778166.html

Contracting decisions in the crude oil transportation market: Evidence from fixtures matched with AIS data

Author

Listed:
  • Vít Prochazka

    (NHH - Norwegian School of Economics and Business Administration, Department of Economics - Norwegian School of Economics and Business Administration)

  • François-Charles Wolff

    (LEMNA - Laboratoire d'économie et de management de Nantes Atlantique - IEMN-IAE Nantes - Institut d'Économie et de Management de Nantes - Institut d'Administration des Entreprises - Nantes - UN - Université de Nantes)

Abstract

In this paper, we investigate the contracting behaviour of participants in the spot freight market for tankers by analysing the positioning of vessels at the time of fixture. For that purpose, we create a new dataset obtained by merging spatial ship positions, commercial fixtures and technical vessel specifications. Using quantile and quantile fixed effect regressions, we show how market conditions, vessel characteristics and charterers' preferences affect the fixture location. Our main result is that oil buyers secure tonnage earlier during strong tanker markets and that the geography of trade creates natural decision points that dominate in the spatial distribution of fixtures.

Suggested Citation

  • Vít Prochazka & François-Charles Wolff, 2019. "Contracting decisions in the crude oil transportation market: Evidence from fixtures matched with AIS data," Post-Print hal-03778166, HAL.
    • Handle: RePEc:hal:journl:hal-03778166
    DOI: 10.1016/j.tra.2019.09.009
    as

    Download full text from publisher

    To our knowledge, this item is not available for download. To find whether it is available, there are three options:
    1. Check below whether another version of this item is available online.
    2. Check on the provider's web page whether it is in fact available.
    3. Perform a
    for a similarly titled item that would be available.

    Other versions of this item:

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Li, Yiliang & Bai, Xiwen & Wang, Qi & Ma, Zhongjun, 2022. "A big data approach to cargo type prediction and its implications for oil trade estimation," Transportation Research Part E: Logistics and Transportation Review, Elsevier, vol. 165(C).
    2. Jesús Fernández-Villaverde & Yiliang Li & Le Xu & Francesco Zanetti, 2025. "Charting the Uncharted: The (Un)Intended Consequences of Oil Sanctions and Dark Shipping," CESifo Working Paper Series 11684, CESifo.
    3. Bai, Xiwen & Hou, Yao & Yang, Dong, 2021. "Choose clean energy or green technology? Empirical evidence from global ships," Transportation Research Part E: Logistics and Transportation Review, Elsevier, vol. 151(C).
    4. Kumar, Sourabh & Kumar Barua, Mukesh, 2022. "Modeling and investigating the interaction among risk factors of the sustainable petroleum supply chain," Resources Policy, Elsevier, vol. 79(C).
    5. Fuentes, Gabriel, 2021. "Generating bunkering statistics from AIS data: A machine learning approach," Transportation Research Part E: Logistics and Transportation Review, Elsevier, vol. 155(C).
    6. Yang, Dong & Wu, Lingxiao & Wang, Shuaian, 2021. "Can we trust the AIS destination port information for bulk ships?–Implications for shipping policy and practice," Transportation Research Part E: Logistics and Transportation Review, Elsevier, vol. 149(C).
    7. Bai, Xiwen & Cheng, Liangqi & Iris, Çağatay, 2022. "Data-driven financial and operational risk management: Empirical evidence from the global tramp shipping industry," Transportation Research Part E: Logistics and Transportation Review, Elsevier, vol. 158(C).

    More about this item

    Keywords

    ;
    ;
    ;
    ;

    JEL classification:

    • Q41 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Energy - - - Demand and Supply; Prices
    • R41 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Transportation Economics - - - Transportation: Demand, Supply, and Congestion; Travel Time; Safety and Accidents; Transportation Noise

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:hal:journl:hal-03778166. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: CCSD (email available below). General contact details of provider: https://hal.archives-ouvertes.fr/ .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.