Why Are the Major Oil Companies Selling Off their Fleets? The Case of Total
Why Are the Major Oil Companies Selling Off their Fleets? The Case of Total
This chapter provides a case study of the French oil company, Total, in attempt to explain why they changed business strategy and chartered international fleets instead of transporting the oil themselves, a growing maritime practice. It explores the economic, financial, technological, and political factors that caused uncertainty in the shipping industry and made the economic cycle unstable, resulting in the chartering of fleets. It finds that the oil industry shifted to open market purchases and oil companies distanced themselves from the transport role in attempt to create a global system within the industry.
Keywords: Oil Trade, Oil Companies, Maritime France, Maritime Economics
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