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Transformations in gas shipping: Market structure and efficiency

Author

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  • Steve Engelen

    (Joachim Grieg & Co, Karenslyst Allé 2, Oslo N-0213, Norway)

  • Wout Dullaert

    ([1] Institute of Transport and Maritime Management (ITMMA) – University of Antwerp, Keizerstraat 64, Antwerp BE-2000, Belgium[2] Antwerp Maritime Academy, Noordkasteel Oost 6, 2030 Antwerp, Belgium)

Abstract

This article aims to improve understanding of the gas shipping markets which, contrary to the main merchant markets – namely the dry, the tanker and the container markets – have not been subject to the same scrutiny. We examine the fundamentals and segment these versatile markets in which expanding gas production and the drive towards liberalization are affecting market conditions. The analysis shows that the industrial LNG, LPG, ammonia and petrochemical markets are slowly transforming to a competitive setting with an increasing number of private buyers and sellers rendering the market more efficient. The gas asset markets are still too small in size and illiquid so that entry and exit through the second-hand market remains difficult.

Suggested Citation

  • Steve Engelen & Wout Dullaert, 2010. "Transformations in gas shipping: Market structure and efficiency," Maritime Economics & Logistics, Palgrave Macmillan;International Association of Maritime Economists (IAME), vol. 12(3), pages 295-325, September.
    • Handle: RePEc:pal:marecl:v:12:y:2010:i:3:p:295-325
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    Cited by:

    1. Xiwen Bai & Jasmine Siu Lee Lam, 2019. "An integrated analysis of interrelationships within the very large gas carrier (VLGC) shipping market," Maritime Economics & Logistics, Palgrave Macmillan;International Association of Maritime Economists (IAME), vol. 21(3), pages 372-389, September.
    2. Barnes, Ryan & Bosworth, Ryan, 2015. "LNG is linking regional natural gas markets: Evidence from the gravity model," Energy Economics, Elsevier, vol. 47(C), pages 11-17.

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