Crude oil maritime transportation: Market fluctuation characteristics and the impact of critical events
The international crude oil maritime transportation system has always been disturbed by the external environment and its own mechanism of supply and demand, which can sometimes last for a long time. BDTI (Baltic Exchange Dirty Tanker Index) is one of the most typical indexes in the crude oil maritim...
| Main Authors: | , , , , , , , |
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| Format: | Article |
| Language: | English |
| Published: |
Elsevier
2020-11-01
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| Series: | Energy Reports |
| Subjects: | |
| Online Access: | http://www.sciencedirect.com/science/article/pii/S2352484719313198 |
| _version_ | 1818924679126056960 |
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| author | Yijie Fei Jihong Chen Zheng Wan Yaqing Shu Lang Xu Haoqiang Li Yun Bai Tianxiao Zheng |
| author_facet | Yijie Fei Jihong Chen Zheng Wan Yaqing Shu Lang Xu Haoqiang Li Yun Bai Tianxiao Zheng |
| author_sort | Yijie Fei |
| collection | DOAJ |
| description | The international crude oil maritime transportation system has always been disturbed by the external environment and its own mechanism of supply and demand, which can sometimes last for a long time. BDTI (Baltic Exchange Dirty Tanker Index) is one of the most typical indexes in the crude oil maritime transportation market, which is affected by many uncertain events and often lasts for a long time. So it is very significant to study fluctuation characteristics of the crude oil maritime transportation system and assess the impact of critical events, which have been referred to in this paper by improving the R/S model and selecting three international transportation lines in marine shipping ranging from 2008 to 2019. Through model applications, numerical results validate the effectiveness of this method, showing all of the three transportation lines possess long-term memory. The impact of the four critical events has also been evaluated. The study will help crude oil enterprises make investment decision on potential transportation lines and give policymakers advice to maintain stability of the crude oil industry. |
| first_indexed | 2024-12-20T02:29:09Z |
| format | Article |
| id | doaj.art-9d183f0dfb134db080a11bb9cdf3f005 |
| institution | Directory Open Access Journal |
| issn | 2352-4847 |
| language | English |
| last_indexed | 2024-12-20T02:29:09Z |
| publishDate | 2020-11-01 |
| publisher | Elsevier |
| record_format | Article |
| series | Energy Reports |
| spelling | doaj.art-9d183f0dfb134db080a11bb9cdf3f0052022-12-21T19:56:37ZengElsevierEnergy Reports2352-48472020-11-016518529Crude oil maritime transportation: Market fluctuation characteristics and the impact of critical eventsYijie Fei0Jihong Chen1Zheng Wan2Yaqing Shu3Lang Xu4Haoqiang Li5Yun Bai6Tianxiao Zheng7College of Transport & Communications, Shanghai Maritime University, Shanghai, 201306, ChinaCollege of Transport & Communications, Shanghai Maritime University, Shanghai, 201306, China; Correspondence to: College of Transport and Communications, Shanghai Maritime University, 1550 Haigang Avenue, Lin Gang New Harbor City, Pudong, Shanghai 201306, China.College of Transport & Communications, Shanghai Maritime University, Shanghai, 201306, China; Correspondence to: College of Transport and Communications, Shanghai Maritime University, 1550 Haigang Avenue, Lin Gang New Harbor City, Pudong, Shanghai 201306, China.School of Navigation, Wuhan University of Technology, Wuhan, 430063, China; Corresponding author.College of Transport & Communications, Shanghai Maritime University, Shanghai, 201306, ChinaCollege of Transport & Communications, Shanghai Maritime University, Shanghai, 201306, ChinaCenter for Advanced Infrastructure and Transportation, Rutgers University, Piscataway, NJ 08854, United StatesCollege of Transport & Communications, Shanghai Maritime University, Shanghai, 201306, ChinaThe international crude oil maritime transportation system has always been disturbed by the external environment and its own mechanism of supply and demand, which can sometimes last for a long time. BDTI (Baltic Exchange Dirty Tanker Index) is one of the most typical indexes in the crude oil maritime transportation market, which is affected by many uncertain events and often lasts for a long time. So it is very significant to study fluctuation characteristics of the crude oil maritime transportation system and assess the impact of critical events, which have been referred to in this paper by improving the R/S model and selecting three international transportation lines in marine shipping ranging from 2008 to 2019. Through model applications, numerical results validate the effectiveness of this method, showing all of the three transportation lines possess long-term memory. The impact of the four critical events has also been evaluated. The study will help crude oil enterprises make investment decision on potential transportation lines and give policymakers advice to maintain stability of the crude oil industry.http://www.sciencedirect.com/science/article/pii/S2352484719313198Energy managementCrude oil transportationFluctuation characteristicsThe impact of critical events |
| spellingShingle | Yijie Fei Jihong Chen Zheng Wan Yaqing Shu Lang Xu Haoqiang Li Yun Bai Tianxiao Zheng Crude oil maritime transportation: Market fluctuation characteristics and the impact of critical events Energy Reports Energy management Crude oil transportation Fluctuation characteristics The impact of critical events |
| title | Crude oil maritime transportation: Market fluctuation characteristics and the impact of critical events |
| title_full | Crude oil maritime transportation: Market fluctuation characteristics and the impact of critical events |
| title_fullStr | Crude oil maritime transportation: Market fluctuation characteristics and the impact of critical events |
| title_full_unstemmed | Crude oil maritime transportation: Market fluctuation characteristics and the impact of critical events |
| title_short | Crude oil maritime transportation: Market fluctuation characteristics and the impact of critical events |
| title_sort | crude oil maritime transportation market fluctuation characteristics and the impact of critical events |
| topic | Energy management Crude oil transportation Fluctuation characteristics The impact of critical events |
| url | http://www.sciencedirect.com/science/article/pii/S2352484719313198 |
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