Advanced SearchSearch Tips
Analysis of Factors Influencing the Composition of Oil Tanker Fleet of Domestic Refinery Companies
facebook(new window)  Pirnt(new window) E-mail(new window) Excel Download
 Title & Authors
Analysis of Factors Influencing the Composition of Oil Tanker Fleet of Domestic Refinery Companies
Bek, Gihon;
  PDF(new window)
The international oil majors have been reducing the size of their own oil tanker fleet since early 1980s. Like international oil majors, the Korean refineries are becoming more dependent on tanker chartering rather than tanker ownership for their oil transportation since the 1990s. They also prefer spot charter to time charter and this kind of trend has continued up to now. Consequently, this paper attempted to find the factors influencing changes in tanker fleet composition. To attain the object of the paper, an empirical study is adopted using the ten decision-making factors derived from preceeding studies. The findings are that MARPOL and OPA 90, and transportation costs are the most important factors influencing an oil tanker fleet composition.
Transportation logistics;Oil tanker fleet composition;Oil majors;Tanker ownership and chartering;Logistics decision-making factors;Korean refineries;
 Cited by
Bek, Gihon, Tae W. Lee and Young T. Chang (2002), 'An Empirical Study on the Decision-Making Factors for the Fleet Composition of Oil Tankers with Reference to the Korean Refineries,' International Journal of Navigation and Port Research, vol. 26, no. 4, pp. 373-381 crossref(new window)

Bek, Gihon and Tae W. Lee(2002), 'A Primary Study on the Decision-Making Factors for the Tanker Transportation Logistics with Reference to the Korean Refineries,' Proceedings of the 26th Annual Spring Meeting on Navigation and Port Research, vol. 26, no. 1, pp. 77-79

Clarkson Research Studies.(2000), Shipping Intelligence Weekly, September 22

Drewry Shipping Consultants.(1999), Shipping Rationalisation Study for the LG Caltex Oil Corporation, Situation Analysis, vol. B, C.

Drewry Shipping Consultants,(1995), The Oil Tanker Fleets

Drewry, The Oil tanker Fleets, June 1995, pp. 14-21

Drewry Shipping Consultants, Shipping Rationalisation Study for the LG-Caltex Oil Corporation, Situation Analysis, vol. C., March 1999. pp. 11-22

Evans, J. J.(1994), 'An Analysis of Efficiency of the Bulk Shipping Markets.' Maritime Policy & Management, Vol. 21, No. 4, p. 324 crossref(new window)

Fairplay(2000), The International Shipping Weekly

Fearnleys(1999), World Bulk Fleet, p. 5

Goncalves, Franklin de O,(1993), 'Freight Futures and Chartering: A Contingent Claims Analysis Approach Applied to Optimal Operational and Investment Decision m Bulk Shipping.' Current Issues in Maritime Economics, Netherlands: Kluwer Academic Publishers, pp. 145-150

Korea Shipowner's Association, Annual Report, Each Issues

Lee, Jung W. and Byung I. Park (1994), 'Overview of Environment Change of World Oil Transportation Market and Prediction of Its Future Market,' Policy Reference 110, Korea Maritime Institute, p. 49

Leahy, Steven E. et al.(1995), 'Determinants of Successful Logistical Relationship: A Third-Party Provider Perspective,' Transportation Journal, p. 9

Lee, Tae-Woo(1996), Shipping Developments in Far East Asia: The Korean Experience England: Avebury, pp. 74-77

Ocean Shipping Consultants(1999), VLCC Supply/Demand & Profitability Prospects to 2005, p. 125

Pettersen, Strandenes Siri.(1999), 'Is There Potential for a Two-tier Tanker Market?' Maritime Policy & management, vol. 26, no. 3, pp. 258-262

Stopford, Martin.(1997), Maritime Economics. London: Routledge, pp. 114-115

Tusiani, Michael D.(1996), The Petroleum Shipping Industry. Vol. 1, Tulsa: Penn Well Publishing Co., pp. 25-31

Tvedt, Jostein.(1997), 'Valuation of VLCCs under Income Uncertainty,' Maritime Policy & Management, Vol. 24, No. 2, pp. 159-160 crossref(new window)

Tusiani, Michael D. (1996), The Petroleum Shipping Industry, Vol. I, A Nontechnical Overview (Tulsa: Penn Well Publishing Co.), p. 25

Yoo, Pil Hwa and Hong S. Kim (1995), 'A Study on the Determinants of Competitive Power of Oceangoing Liner Shipping Service,' The Journal of Korean Association of Shipping Studies, vol. 21, pp. 29-50