Abstract:Marine fuel price differences of supply centers have a significant effect on operators’ budgets, and so are closely monitored by traders, charterers and shipowners. The aim of this study is to determine the volatility spillovers between the prices of the major fuel centers in the world and to form a hierarchical structure based on the influence and dependence powers of these centers. For this purpose, an integrated structure of causality in variance and Interpretive Structural Modeling (ISM) methods are used. … Show more
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