Energy Economics and Trade for the European Union: The Role of Seaborne Transport

Energy is a driving force of economic development in the modern world, while as a commodity group it holds the greatest share of the world seaborne trade. Oil, natural gas, and coal are the 3 most important energy sources for the European Union (EU) which represents 17% of all energy consumption. This paper aims to explore the economics and trade issues of these 3 major energy commodities and investigate the role of maritime transport in the energy trade within the context of the EU-25. A number of factors are considered in order to discuss contemporary opportunities and challenges that arise in this context for the shipping business. The examination reveals the critical dependence of EU-25 energy supply on seaborne trade and the considerable reliance of maritime transport on such commodities for the generation of shipping business within the realms of the EU-25. Among the parameters regarded as conducive to the demand of shipping services in the context of the EU energy trade are energy demand factor, import dependency factor, the cost effective production element, and seaborne trade related parameters, while consideration is also given to environmental issues.

Language

  • English

Media Info

Subject/Index Terms

Filing Info

  • Accession Number: 01045093
  • Record Type: Publication
  • Files: TRIS
  • Created Date: Mar 22 2007 2:56PM