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:: Volume 14, Issue 57 (Summer 2018 2018) ::
QEER 2018, 14(57): 65-86 Back to browse issues page
Analysis of Fuel Oil and Diesel Demand Price Elasticity in the Global Maritime Sector
Maryam Keshavarzian
iies , Maryam3110@yahoo.com
Abstract:   (214 Views)
Maritime transport has a major cost advantage in the transport of bulky and heavy cargo due to its low per tonne cost.  This paper assesses the demand for the two types of fuel that are used in cargo and passenger ships (bunker fuel oil and gas oil –diesel) in the world.  We first estimate the total demand for maritime transport and then proceed to calculate the associated demand for fuel demand.  Given the differential market characteristics of the two fuel types, we use two different equations to estimate the demand for them.
The results show that both fuel oil and diesel demand are positively correlated with the volume of maritime traffic in a significant manner. Our observations indicate that the changes in overall economic conditions affect the volume of international trade and resultant demand for fuels used in maritime transport. We also see that the demand for each of the two fuels, namely  fuel oil and diesel are negatively correlated with their respective real prices in a significant manner.
 
Keywords: maritime transport, fuel oil and diesel consumption, maritime trade, GDP, seemingly unrelated regression models
Full-Text [PDF 889 kb]   (109 Downloads)    
Type of Study: Research | Subject: Energy Economic
Received: 2017/12/24 | Accepted: 2018/09/26
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keshavarzian M. Analysis of Fuel Oil and Diesel Demand Price Elasticity in the Global Maritime Sector. QEER. 2018; 14 (57) :65-86
URL: http://iiesj.ir/article-1-949-en.html


Volume 14, Issue 57 (Summer 2018 2018) Back to browse issues page
فصلنامه مطالعات اقتصاد انرژی Quarterly Energy Economics Review
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