Η επιρροή των τιμών των καυσίμων στις τιμές των ναύλων στην spot αγορά VLCC

Ζαρκάδα, Χριστίνα Ε.

Master Thesis

Author

Ζαρκάδα, Χριστίνα Ε.

Date

2013-03-12

Abstract

Observing the VLCC spot market the last ten years (2000 to 2011), is obvious that the VLCC spot rates represent a very volatile behavior with large fluctuations in VLCC freight rates. In 2004 and 2007/2008 the VLCC spot rates climbed onto unexpectedly levels, astonished the whole VLCC spot market. The reason that provoke the very increased VLCC spot rates in 2004, there was nothing from the spot's market development in 2002 through 2004 as ton-mile demand was growing faster than the available ton - mile supply, but not the case in 2007/2008. In 2007/2008 the situation in the VLCC spot market was quite disappointed as all the market factors (demand, supply, etc.) had their own route independed from the rest. This thesis analyzes and determines the bunker prices as the factor of VLCC spot market that is able to influence the freight rates of the spot market in such level so causing chances of the VLCC supply curve. Furthermore the present thesis analyses the influence exerted by the bunker prices in the voyage cost and the VLCC speed (slow steaming).