AboutThomas Yoon Expertise Can answer questions on how equipment works. What working on board ship is like. The work on board ship. Can answer questions on working life as a Marine Engineer.
Cannot answer questions on business, and questions applicable to specific countries.
Experience Working on board cargo ships as Marine Engineer for 9 years, including 1-1/2 years as cadet, and 1 year in shipyard.
Publications Website: http://www.free-marine.com which is titled Marine Engineer World.View it at Marine Engineer World
Education/Credentials 1st Class Marine Engineer Certificate of Competency (Motorship)
Expert: Thomas Yoon Date: 4/7/2008 Subject: shippig economics
Question the effects of rise in oil prices to shipping industry
Answer Dear Grace,
I feel that it is not directly affected by the rise in oil price but is affected because there is less cargo to carry due to higher manufacturing cost and reduction in spending by consumers.
Of course the shippers will have the bear the increased cost to ship the cargo due to oil price increase. Consumers will tighten their belts and reduce their spending resulting in less demand for the manufactured goods.
