Ships as workhorses of energy trade

Abstract

This chapter discusses ships as workhorses of energy trade. Ships are used to carry three important energy commodities, viz. coal, crude oil and oil products and LNG. These ships are different as they carry specific cargo and cannot be interchanged. The types and classification of ships and their role in transportation of energy commodities are presented. The size, prices, construction, loading operations, important routes and ports for bulk carriers for coal, oil tankers and gas carriers are elucidated in detail. Market dynamics, such as one-way journey, ship chartering, operating costs, fleet productivity and impact of cabotage on energy trade, is highlighted. Bulk carriers, oil tankers and gas carriers make up a significant component of the shipping sector and contributes to a large share of global energy trade. The chapter concludes that ships are workhorses of energy trade and contributes significantly to sustainable energy security.