Influencing factors of crude oil maritime shipping freight fluctuations: a case of Suezmax tankers in Europe-Africa routes

PurposeThe paper aims to identify the contributors to freight rate fluctuations in the Suezmax tanker market; this study selected the refinery output, crude oil price, one-year charter rate and fleet development as the main influencing factors for the market analysis.Design/methodology/approachThe paper used the VEC (vector error correction) model to evaluate the degree of impact of each influencing factor on Suezmax tanker freight rates, as well as the interplay between these factors.FindingsThe conclusion and results were tested using the 20-year data from 1999 to 2019, and the methodology and theory of this paper were proved to be effective. Results of this study provide effective reference for scholars to find the law of fluctuations in Suezmax tanker freight rates.Originality/valueThis paper provides a decision-making support tool for tanker operators to cope with fluctuation risks in the tanker shipping market.

Modeling the freight rate for container transportation by rail in the Russian Federation

Objective: To develop proposals for improving freight rates for container transportation by rail in the Russian Federation in the current context. Methods: Comparative method, analysis, synthesis, statistical method, and system approach have been applied. Results: Multi-factor complex digital models of rates per wagon with containers and per container train have been developed. One of the options for the algorithm for evaluating individual components of these models is proposed, additional comments to the presented models are provided. Practical importance: The findings can be used to improve freight rates for container transportation by rail in the Russian Federation in the current context, as well as for further research in the field of pricing.