Shipping Economics and Market Sector Analysis

 

MODULE DESCRIPTION FORM

DEPARTMENT OF NAVAL ARCHITECTURE, OCEAN & MARINE ENGINEERING

 NM 949    Shipping Economics and Market Sector Analysis
Module Registrar: Prof. P.A. Caridis Taught To (Course): MSc/PgDip Marine Eng, TSM
Other Lecturers Involved: Credit Weighting: 10 Semester: 1
Assumed Prerequisites:  None Compulsory for some courses

Optional to others
Class Aims:

This module aims to provide students with an understanding of the financial and operational issues that companies that manage or own ships in the various sectors of merchant shipping face, both charter and liner shipping.  In addition, an acquaintance with maritime sector infrastructures is provided.
 Learning Outcomes
On completion of the module, the students should be able to:

LO1     Develop an understanding of the application of basic economic concepts in the shipping sector, its role in the world economy and the role of market sectors in seaborne transportation

LO2    Be in a position to assume managerial decisions concerning the charter market sector (wet and dry bulk charges)

LO3    Make decisions involving liner shipping issues and maritime transport system infrastructures
 Syllabus
The following topics will be taught in the module:

  • International seaborne trade.
  • Economic model for perfect competition conditions
  • Shipping markets and commodities transported
  • Charter shipping and the liner market
  • Supply chain management and logistics
  • Marine transport systems infrastructures.
  • Geography of marine transport
Assessment of Learning Outcomes
Criteria

 Student learning is judged on the basis of their performance on the following assessment method:

 

LO1 Develop an understanding of the application of basic economic concepts in the shipping sector, its role in the world economy and the role of market sectors in seaborne transportation

  • C1 ability to appreciate the basic economics concepts and their application to charter markets
  • C2 ability to understand the integrated nature of the transport system
  • C3 improved knowledge in the different cargoes transported by sea

 

LO2 Be in a position to assume managerial decisions concerning the charter market sector (wet and dry bulk cargoes)

  • C1 ability to understand the oil tanker market and charterparties used
  • C2 ability to understand the dry bulk market and charterparties used

 

LO3 Make decisions involving liner shipping issues and maritime transport system infrastructures

  • C1 ability to make judgements about the container shipping and its current role in seaborne transportation
  • C2 ability to assess the liner conference system and the container freight determination mechanism
  • C3 ability to develop knowledge to apply the supply chain and logistics to the maritime sector
  • C4 ability to have an improved understanding of the maritime transport system infrastructures and port operations
Recommended Reading
Lecture note plus:

Martin Stopford, Maritime Economics 3rdedition, Routledge, ISBN978-0415275583, 2008.

Harry Benford, A Naval Architect’s Guide to Practical Economics, University of Michigan, October 1991.

Everett C. Hunt and Boris S. Butman,  Marine Engineering Economics and Cost Analysis, Cornell Maritime Press, ISBN 0-87033-458-1, 1995.
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