Kilian, Lutz; Nomikos, Nikos K.; Zhou, Xiaoqing - 2020 - This version: September 4, 2020
Using a novel dataset, we develop a structural model of the Very Large Crude Carrier (VLCC) market between the Arabian Gulf and the Far East. We study how fluctuations in oil tanker rates, oil exports, shipowner profits, and bunker fuel prices are determined by shocks to the supply and demand...