How do the new shipping routes affect Asian liquefied natural gas markets and economy? Case of the Northern Sea Route and Panama Canal expansion
This study focuses on the expected impact of Northern Sea Route (NSR) usage and the Panama Canal (PC) expansion on liquefied natural gas (LNG) imports of Asian countries, from not only the macroeconomic viewpoint but also diversification of the supplying countries. First, the amounts saved from ship...
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ftrepec:oai:RePEc:taf:marpmg:v:45:y:2018:i:4:p:543-566 2023-05-15T17:43:49+02:00 How do the new shipping routes affect Asian liquefied natural gas markets and economy? Case of the Northern Sea Route and Panama Canal expansion Ryuichi Shibasaki Takashi Usami Masahiko Furuichi Hiroyuki Teranishi Hironori Kato http://hdl.handle.net/10.1080/03088839.2018.1445309 unknown http://hdl.handle.net/10.1080/03088839.2018.1445309 article ftrepec 2020-12-04T13:41:49Z This study focuses on the expected impact of Northern Sea Route (NSR) usage and the Panama Canal (PC) expansion on liquefied natural gas (LNG) imports of Asian countries, from not only the macroeconomic viewpoint but also diversification of the supplying countries. First, the amounts saved from shipping costs due to these events are estimated, based on scenarios on the navigable period of the NSR, transit fee of the NSR considering the exchange rate between the Russian ruble and US dollar, and bunker fuel price. Second, a spatial general equilibrium model based on macroeconomic theory is applied to predict changes in LNG trade patterns and measure economic impacts due to the reduction of shipping costs. Finally, the impacts of NSR usage as well as the PC expansion on LNG imports of Asian countries are discussed based on the calculations. The results show that diversification of supplying countries for LNG imports can be observed, especially in Japan, the largest LNG importer in the world, and other Asian countries are secondarily affected by changes in Japan’s import pattern, with limited impacts on these countries’ national economies. Article in Journal/Newspaper Northern Sea Route RePEc (Research Papers in Economics) |
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RePEc (Research Papers in Economics) |
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This study focuses on the expected impact of Northern Sea Route (NSR) usage and the Panama Canal (PC) expansion on liquefied natural gas (LNG) imports of Asian countries, from not only the macroeconomic viewpoint but also diversification of the supplying countries. First, the amounts saved from shipping costs due to these events are estimated, based on scenarios on the navigable period of the NSR, transit fee of the NSR considering the exchange rate between the Russian ruble and US dollar, and bunker fuel price. Second, a spatial general equilibrium model based on macroeconomic theory is applied to predict changes in LNG trade patterns and measure economic impacts due to the reduction of shipping costs. Finally, the impacts of NSR usage as well as the PC expansion on LNG imports of Asian countries are discussed based on the calculations. The results show that diversification of supplying countries for LNG imports can be observed, especially in Japan, the largest LNG importer in the world, and other Asian countries are secondarily affected by changes in Japan’s import pattern, with limited impacts on these countries’ national economies. |
format |
Article in Journal/Newspaper |
author |
Ryuichi Shibasaki Takashi Usami Masahiko Furuichi Hiroyuki Teranishi Hironori Kato |
spellingShingle |
Ryuichi Shibasaki Takashi Usami Masahiko Furuichi Hiroyuki Teranishi Hironori Kato How do the new shipping routes affect Asian liquefied natural gas markets and economy? Case of the Northern Sea Route and Panama Canal expansion |
author_facet |
Ryuichi Shibasaki Takashi Usami Masahiko Furuichi Hiroyuki Teranishi Hironori Kato |
author_sort |
Ryuichi Shibasaki |
title |
How do the new shipping routes affect Asian liquefied natural gas markets and economy? Case of the Northern Sea Route and Panama Canal expansion |
title_short |
How do the new shipping routes affect Asian liquefied natural gas markets and economy? Case of the Northern Sea Route and Panama Canal expansion |
title_full |
How do the new shipping routes affect Asian liquefied natural gas markets and economy? Case of the Northern Sea Route and Panama Canal expansion |
title_fullStr |
How do the new shipping routes affect Asian liquefied natural gas markets and economy? Case of the Northern Sea Route and Panama Canal expansion |
title_full_unstemmed |
How do the new shipping routes affect Asian liquefied natural gas markets and economy? Case of the Northern Sea Route and Panama Canal expansion |
title_sort |
how do the new shipping routes affect asian liquefied natural gas markets and economy? case of the northern sea route and panama canal expansion |
url |
http://hdl.handle.net/10.1080/03088839.2018.1445309 |
genre |
Northern Sea Route |
genre_facet |
Northern Sea Route |
op_relation |
http://hdl.handle.net/10.1080/03088839.2018.1445309 |
_version_ |
1766145977882771456 |