CORE COURSES

Shipping Economics and Policy

Background
Competition and technological advancement in ship construction have lowered transport costs and made ocean transportation an unquestionable facilitator of world trade, growth and prosperity. Shipping management is an extremely complex function. In bulk shipping, high market volatility and unpredictability require lean organisation and effective decision-making, both in operations and asset management. Multimodal transport, logistics and the complexity of global maritime supply chains in liner shipping require highly sophisticated operational solutions. Capital concentration and intensified global competition in shipping require managerial skills that include a thorough understanding of the institutional framework of international shipping and the way it affects the well-being of the company. For instance, the ever-increasing body of international rules and standards with regard to ship safety and environmental protection makes the adoption of a safety management culture a sine qua non in corporate thinking.

Objectives
The objectives of the course are to enable students understand, analyze and appraise, from a research viewpoint, shipping economics theories and trends and the role shipping plays in global maritime supply chains. In addition, the aim is to afford students a broad and thorough understanding of international shipping and trade policy issues, thus offering them the strong comparative advantage of being able to put their managerial decisions in the proper industrial and trade policy perspective.

Recommended reading

  • Abrahamsson, B.J. "International Ocean Shipping". Westview, 1980

  • Beenstock, M & A. Vergottis "An Econometric Model of World Shipping". Chapman & Hall, 1993

  • Brooks, M.R. "Sea Change in Liner Shipping". Perhamon, 2000

  • Buxton, I.L. "Engineering Economics and Ship Design". British Maritime Technology, 1987

  • Dixit, A.K. & V. Norman "Theory of International Trade". Cambridge University Press, 1980

  • Evans, J.J. & P.B. Marlow "Quantitative Methods in Maritime Economics". Fairplay Publications, 1990

  • Haralambides, H.E. "Topics in Applied Maritime Economics". Erasmus University Rotterdam, 2007

  • Jansson, J.O. & D. Shneerson "Liner Shipping Economics". Chapman & Hall, 1987

  • Koopmans, T. "Tanker Freight Rates and Tankship Building". Haarlem-de Erven F. Bohn N.V., 1939

  • Stopford, M. "Maritime Economics". Routledge, 1997

  • Sanchez, R.J., Hoffmann, J., Micco, A., Pizzolitto, G.V., Sgut, M. & Wilmsmeier, G. (2003): Port Efficiency and International Trade: Port Efficiency as a Determinant of Maritime Transport Costs. Maritime Economics & Logistics, 2003, 5, (199-218)

  • Yannopoulos, G.N. (ed.) "Shipping Policies for an Open World Economy". Routledge, 1989

  • Zannetos, Z.S. "The Theory of Oil Tankship Rates". The MIT Press, 1966