Kilian, Lutz; Nomikos, Nikos K.; Zhou, Xiaoqing - 2020 - This version: September 4, 2020
cost shocks. In response to higher costs, voyage profits decline, as cost shocks are only partially passed on to round …-trip voyage rates. Oil exports from the Arabian Gulf also decline, reflecting lower demand for VLCCs. Positive utilization shocks …. Tanker supply and tanker demand shocks have persistent effects on time charter rates, round-trip voyage rates, the volume of …