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

Vít Prochazka (), Roar Adland () and François-Charles Wolff

Post-Print from HAL

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.

Date: 2019-12
References: Add references at CitEc
Citations: View citations in EconPapers (6)

Published in Transportation Research Part A: Policy and Practice, 2019, 130, pp.37-53. ⟨10.1016/j.tra.2019.09.009⟩

There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.

Related works:
Journal Article: Contracting decisions in the crude oil transportation market: Evidence from fixtures matched with AIS data (2019)
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:hal-03778166

DOI: 10.1016/j.tra.2019.09.009

Access Statistics for this paper

More papers in Post-Print from HAL
Bibliographic data for series maintained by CCSD ().