Best maritime transportation option for the Arctic crude oil: A profit decision model

Faury, Olivier; Cheaitou, Ali; Givry, Philippe

doi:10.1016/j.tre.2020.101865

Cited by 31 publications

(14 citation statements)

References 22 publications

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“…Additionally, IoT is used to solve crude oil transportation problems in the Arctic zone [11]. NSR and SCR models (profit decision models) are analyzed to compare transportation costs while using different types of ships.…”

Section: Related Workmentioning

confidence: 99%

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PeTroShare: Blockchain-Managed, Logistics-Aware, Privacy-Friendly, Comparative, and Efficient Petroleum Transportation

Hassan

Azab

Hamada

2021

Sensors

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Crude oil is one of the critically needed resources. It is the main pillar supporting almost everything we rely on in daily life. Unfortunately, due to many factors, crude oil costs too much. Transportation is one of the critical factors that affect such costs. Due to many environmental risks attached to the transportation process, many countries added very high tariffs to cover any hazards during the transportation, loading, and unloading process. Logistics concerns and political conflicts are the other key factors that can massively impact the transportation cost. This paper presents an Industry 4.0-compliant PeTroShare (PTS), a blockchain-powered trustworthy, logistics-friendly, and cost-efficient crude oil trading platform. PTS is a novel ride-sharing platform that enables an anonymous exchange of crude oil between oil producers and customers, focusing mainly on the product quality, not the source of origin. In our scenario, floating crude oil tankers will hold the cargo to an intermediate position in the open ocean. PTS will match the product availability based on the location and the needed quality of the customer requests. Consequently, the time and distance travelled are minimized. Our simulation results show that enabling the anonymous sharing of crude oil products can significantly enhance system efficiency and cost-effectiveness.

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Section: Related Workmentioning

confidence: 99%

“…PTS Model [11] The authors used profit decision models to compare transportation costs while using different types of ships. Unless the ice conditions allow safe navigation without using an icebreaker, the best solution is not to reduce the sailed distance but instead look for the fastest shipping lane.…”

Section: The Related Workmentioning

confidence: 99%

PeTroShare: Blockchain-Managed, Logistics-Aware, Privacy-Friendly, Comparative, and Efficient Petroleum Transportation

Hassan

Azab

Hamada

2021

Sensors

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“…Several academics, i.e. (Xu et al 2011 ; Lasserre 2014 ; Tseng and Pilcher 2017 ; Wang et al 2018 ; Cariou et al 2019 ; Faury et al 2020 ; Theocharis et al 2021 ; Gunnarsson 2021 ) consider NSR as a route between ports in Northwest Europe and Asia. However, the distance savings, and subsequent economic benefit, would be even larger for ports in Northern Europe, such as Norway and Kola Peninsula (Koçak and Yercan 2021 ).…”

Section: Introductionmentioning

confidence: 99%

“…Shipping companies on Asian-European voyages strive for savings in any possible aspect. The use of the NSR shortens the distance between Northern Europe and Asia (40% shorter than the southern route Zeng et al 2020 ; Theocharis et al 2021 )), saves on fuel consumption and reduces voyage time (Cariou et al 2019 ), environmental footprint (6800 tonnes of CO 2 per voyage) (IMAREST 2016 ; Chien-Yun et al 2020 ) and transportation costs (Ha and Seo 2014 ; Lindstad et al 2016 ; Cariou et al 2019 ) as more cargo can be carried (improved vessel economics) (Faury et al 2020 ; Keltto and Woo 2020 ). That will meet customers’ requirements for greater selection of products, competitive prices and increased availability, which could be facilitated by the shorter lead-time achieved via the NSR.…”

Section: Introductionmentioning

confidence: 99%

“…MAERSK and COSCO) attempt to prove the feasibility and competitiveness of the NSR as an alternative route (World Maritime News 2018 ; Humbert 2019 ). However, these findings remain inconclusive (Solvang et al 2018 ; Faury et al 2020 ; Theocharis et al 2021 ). The NSR trials by shipping lines demonstrate that these stakeholders have an interest in identifying how to capture the inherent benefits of the route.…”

Section: Introductionmentioning

confidence: 99%

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Northern sea route as an emerging option for global transport networks: a policy perspective

Karamperidis

Valantasis-Kanellos

2022

WMU J Marit Affairs

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The Northern Sea Route (NSR) is an emerging alternative route to the Suez Canal; however, inconclusive research exists on its benefits and viability. This paper uses a two-stage Delphi approach to collect qualitative data from experts, on what actions Nordic countries (Nordic countries are Denmark, Norway, Sweden, Finland, and Iceland, as well as the Faroe Islands, Greenland, and Åland (Nordic Co-operation, 2020)) can undertake to prepare themselves to enter NSR and capture potential benefits deriving from trading in global transport networks. By conceptually developing a framework based on first-mover advantage (FMA) and dynamic capabilities theory (DCT), this paper empirically identifies a path to develop capabilities that could allow stakeholders to reduce logistics costs through collaborations in NSR. Our paper has made a twofold contribution, first to literature by linking FMA/DCT in a single framework and elaborating it in a global transportation and logistics context. Second, a practical contribution by identifying how countries along the NSR, and specifically Nordic countries, can capture and maximise its benefits by using the right policy framework.

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Northern Latitudinal Railway Project: Priorities and Drivers

Pokrovskaya

Fedorenko

Kamaletdinov

2020

Lecture Notes in Networks and Systems

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Best maritime transportation option for the Arctic crude oil: A profit decision model

Cited by 31 publications

References 22 publications

PeTroShare: Blockchain-Managed, Logistics-Aware, Privacy-Friendly, Comparative, and Efficient Petroleum Transportation

PeTroShare: Blockchain-Managed, Logistics-Aware, Privacy-Friendly, Comparative, and Efficient Petroleum Transportation

Northern sea route as an emerging option for global transport networks: a policy perspective

Northern Latitudinal Railway Project: Priorities and Drivers

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