Authors: O Golomer,

The Market and the Economics of Large Oil Tankers

Contents

  1. The VLCC Market
    The Emergence of a New Shipping Segment
    Necessary Conditions for the Use of VLCCS
    The Main Routes
    Types of Contract
    The Actors
    Formation of Freight Rates
    Hedging Against Fluctuations
    Tables and Figures
  2. Ownership
    The Complexities of VLCC Ownership
    Type of Tanker: The Declining Role of Combined Carriers
    The Importance of Small Owners
    Age: A Majority Built in the 1970s
    Date of Acquisition: The Kingdom of Asset Trading
    Vessel Size: Three Accumulation Points
    Country of Origin: Three Different Approaches
    Type of Shareholders: The Reign of Entrepreneurs
    Conclusion
    Tables and Figures
  3. Costs & Revenues
    Revenues
    Vessel Value
    Financial Costs
    Operating Costs
    Administration Costs
    Voyage Costs
    Taxes
    Conclusion
    Tables and Figures
  4. External Pressure to Limit Oil Pollution
    Regulatory Bodies
    Commercial Partners
    Public Opinion
  5. Forecasts
    Which Fortune-teller?
    Freight Rates
    Environmental Costs
    Figures
  6. Strategies
    Ways to Achieve Profits or to Avoid Losses
    Charterer’s Motives
    Emotional Motives
    Table
  7. Fundamental Decisions
    Different Approaches to Decision Making
    The ‘Quality’ Decision
    The ‘Order’ Dilemma
    The ‘Demolition’ Dilemma
    The ‘Ownership’ Dilemma
    Table

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