The interaction between global liquid energy markets and global maritime transport market
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Keywords
Global markets ; Liquified Natural Gas (LNG) ; Liquified Petroleum Gas (LPG) ; Oil prices ; Maritime transportAbstract
The purpose of this thesis is to examine how the global liquid energy market interacts with the global maritime transport market of liquid energy commodities, the factors affecting the two markets, the trends that currently prevailing and the prospects for growth in the future.
The first section analyzes the global market for liquid energy products. In particular, global oil and gas reserves are being examined, as well as their distribution and evolution over the last decade. Factors affecting the volatility of oil and gas prices and benchmarks used in the spot market are referred. It also analyzes the global supply and demand of the oil and gas markets, in particular liquefied natural gas (LNG). In terms of production, the dynamics of global oil and gas markets are analyzed, taking into account oil, gas and LNG prices, oil and gas production, major export countries and trade. It also mentions the role that OPEC and national oil and gas companies play in international oil and gas markets. It refers to the phenomenon of the "resource curse" that many large oil exporting countries suffer from and geopolitical issues concerning gas. In terms of demand, it identifies sectors contributing to the largest demand for oil and natural gas in recent years as well as factors affecting primary energy consumption worldwide. It results in the identification of trends in global supply and demand over the last decade and forecasts in the medium and in the long term.
The second section analyzes the maritime transport of liquid energy goods and their international transport system. First, it analyzes the tankers global market transporting crude oil and its derivatives, liquefied natural gas (LNG) and liquefied petroleum gas (LPG) as well as recent developments in fleet demand and supply. A brief description of the competition conditions of these markets is made and the main competitors are reported globally. Different views are examined on the future situation of these markets over the medium term. Next, it analyzes the maritime transport price formation, transport costs of oil and transport costs of gas through pipelines versus LNG vessels are compared. At the end of the module, major ports, international transport routes and trade flows of liquid energy commodities are identified.
The third section concerns the modern institutional framework governing maritime transport of liquid energy goods as well as recent developments. In particular, it refers to the international framework enforced by International Maritime Organization (IMO), European policies on shipping and the Greek institutional framework.
The fourth module analyzes the determinants that influence the international market for liquid energy products on the demand and supply side. It then examines how the energy market affects maritime transport market by analyzing historical data of three variables: world annual output, commodity price and freight rate.
The fifth section analyzes the trends and prospects of the two markets and concludes.
Postgraduate Studies Programme
Ενέργεια: Στρατηγική, Δίκαιο & ΟικονομίαDepartment
Σχολή Οικονομικών, Επιχειρηματικών και Διεθνών Σπουδών. Τμήμα Διεθνών και Ευρωπαϊκών ΣπουδώνNumber of pages
100Language
EnglishCollections
Except where otherwise noted, this item's license is described as
Attribution-NonCommercial-NoDerivatives 4.0 Διεθνές
Attribution-NonCommercial-NoDerivatives 4.0 Διεθνές