IDEAS home Printed from https://ideas.repec.org/a/bfy/oajscm/v6y2021i2p1-9id741.html
   My bibliography  Save this article

The implications of covid-19 on the shipping/oil tanker market

Author

Listed:
  • Paul Ogoun (PhD)

Abstract

Purpose: This aims at analyzing the implications of covid-19 on the shipping/oil tanker market. Methodology: In order to attain the aim of this study, findings and data are curated from existing literatures, documents, policies, etc. This implies that desk review is the methodology applied in this study where the researcher made use of secondary sources of data as against primary source of data. Findings: In the study, it was found that covid-19 brought about a shortage in the rate of demands for good thereby causing an unbalance in the rate of supply over demand at a time which directly brought about a huge decline in shipping/oil tanker transportation. The study also found that irrespective of the huge decline in the rate of shipping/oil tanker transportation brought about by low demand in comparison with supply; shipping/oil tanker was patronized by dealers for the purpose of storage of products. Also, the study found that seaborne trade fell downward from above 3% to below a negative 8% and at a bdp rate of 100m, the demand was 3% higher than the global supply which in 2019 was at about 97%. However, in the second quarter of 2020 the supply leads demand at over 28M bdp and a 13% increase in the demand year-on-year when compared to a fall of 3.9% in the supply year-on-year. Recommendation: The study recommends that appropriate forecasting methods and proper liaison with global health will aid in averting or ameliorating the risks and negative impacts brought on shipping/oil tanker market by covid-19.

Suggested Citation

  • Paul Ogoun (PhD), 2021. "The implications of covid-19 on the shipping/oil tanker market," American Journal of Supply Chain Management, AJPO Journals Limited, vol. 6(2), pages 1-9.
    • Handle: RePEc:bfy:oajscm:v:6:y:2021:i:2:p:1-9:id:741
    as

    Download full text from publisher

    File URL: https://ajpojournals.org/journals/index.php/AJSCM/article/view/741/862
    Download Restriction: no
    ---><---

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:bfy:oajscm:v:6:y:2021:i:2:p:1-9:id:741. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Chief Editor (email available below). General contact details of provider: https://ajpojournals.org/journals/index.php/AJSCM/ .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.