Economic analysis of the tanker chartering market

Master Thesis
Author
Gounaridis, Miltiadis
Γουναρίδης, Μιλτιάδης
Date
2026-01Advisor
Galanos, GeorgeΓαλανός, Γεώργιος
View/ Open
Keywords
Chartering ; Freight ; Shipping ; RatesAbstract
This master’s thesis examines the tanker chartering market through an economic
perspective, focusing on the key factors that influence freight rates, market
equilibrium, and overall market performance. Given the central role of tanker
shipping in the global transportation of crude oil and refined petroleum products, the
study highlights the importance of understanding supply and demand dynamics within
the sector. The analysis explores the structure of the tanker market, the main
chartering arrangements, and the roles of principal market participants. Particular
attention is paid to the distinction between clean and dirty tanker segments, as well as
to the impact of global trade routes on tonne-mile demand. The thesis further
investigates how macroeconomic conditions, oil price fluctuations, geopolitical
developments, and environmental regulations affect rates and market volatility. The
research is based on secondary data, drawing from academic literature, industry
reports, and market indices. By reviewing historical trends and current market
conditions, the study provides insights into the cyclical nature of the tanker chartering
market and outlines key challenges and opportunities for shipowners, charterers, and
investors.


