0560025 20240103230825.520220817235959.9 85135851391 000856602000004 10.1016/j.eneco.2022.106204 11 s. P cav_un_epca*02504260140-9883113Elsevier Marine fuels Hedging IMO 2020 cav_un_auth*0344057 Čech František UTIA-B Ekonometrie Department of Econometrics E E CZ 50% K Ústav teorie informace a automatizace AV ČR, v. v. i. cav_un_auth*0435407 Zítek M. CZ http://library.utia.cas.cz/separaty/2022/E/cech-0560025.pdf https://www.sciencedirect.com/science/article/pii/S0140988322003528?via%3Dihub GX19-28231X GA ČR CZ cav_un_auth*0385135 This paper examines the hedging potential of crude oil financial derivatives in the marine industry and concentrates on the dependence between marine fuels and crude oil futures. We argue that marine fuel consumers and producers can reduce uncertainty regarding their portfolios under environmental regulations aimed at air pollution reduction. Our results show that uncertainty can be reduced up to 72%. In addition, we find that complex dynamic hedging strategies do not provide significant benefits compared to the static method, and asymmetries in dependence structures are not driving the results. We also identify Gasoil and Brent Crude futures as the universal hedging instruments to manage uncertainty across the global ports. WOS AH 50000 50200 50202 2023 RVO:67985556 https://hdl.handle.net/11104/0333428 cav_un_auth*0434690 Institut ekonomických studií, Fakulta sociálnich věd, Univerzita Karlova IES FSV UK CZ S 106204 2 Article Economics C ECONOMICS 11.7 4.1 4.7 0.0319 1.827 42372 3.039 11.200 601 Q1 99.6 Q1 Q1* 3.56 Q1 99.6 2022 85135851391 SCOPUS PUBMED 000856602000004 WOS cav_un_epca*0250426 Energy Economics 0140-9883 1873-6181 Roč. 113 č. 1 2022 Elsevier