Essays on the economic analysis of oil-tanker transportation

Thesis/Dissertation · Tue Jan 01 04:00:00 EST 1991

OSTI ID:6984299

Khanti-Akom, S

Three models concerning the economic analysis of the oil tanker market are considered. The first model studies the behavior of a risk-neutral tanker owner under a stochastic framework. A dynamic linear rational expectations model is used to explore the tanker owners decisions regarding his tanker fleet in response to freight rate changes. The model assumes that the tanker owner operates in a competitive tanker market, in the sense that the stochastic freight rates are exogenously given in the model. The second model investigates the economic performance of oil tanker operations. The productivity growth of the tanker industry is explored. A general index of technical change developed by Baltagi and Griffin (1988) is used to examine the rate of technical change of the US flag tankers from 1978 to 1984. The third model compares econometric techniques using panel data to estimate a system of the multivariate translog model. Specification tests are performed, and they favor the random-effect model over the fixed-effect model.

• Research Organization: Texas A and M Univ., College Station, TX (United States)
• OSTI ID: 6984299
• Country of Publication: United States
• Language: English

Related Subjects

02 PETROLEUM
022000* -- Petroleum-- Transport
Handling
& Storage
29 ENERGY PLANNING, POLICY, AND ECONOMY
290200 -- Energy Planning & Policy-- Economics & Sociology
294002 -- Energy Planning & Policy-- Petroleum
ECONOMIC ANALYSIS
ECONOMICS
ENERGY SOURCES
FOSSIL FUELS
FUELS
FUNCTIONAL MODELS
PETROLEUM
PRODUCTIVITY
SHIPS
TANKER SHIPS
TRANSPORT