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The Market and the Economics of Large Oil Tankers
Contents
- 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
- 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
- Costs & Revenues
Revenues
Vessel Value
Financial Costs
Operating Costs
Administration Costs
Voyage Costs
Taxes
Conclusion
Tables and Figures
- External Pressure to Limit Oil Pollution
Regulatory Bodies
Commercial Partners
Public Opinion
- Forecasts
Which Fortune-teller?
Freight Rates
Environmental Costs
Figures
- Strategies
Ways to Achieve Profits or to Avoid Losses
Charterer’s Motives
Emotional Motives
Table
- Fundamental Decisions
Different Approaches to Decision Making
The ‘Quality’ Decision
The ‘Order’ Dilemma
The ‘Demolition’ Dilemma
The ‘Ownership’ Dilemma
Table