Maritime Economics (B1)

Venue: University of Strathclyde


Staff: Dr Dimitris Konovessis, Dr BS Lee


Aims: To provide an insight into the markets, economics and operational systems which are fundamental to the provision of waterborne transport.


Module Content:  The module will cover the following topics:

Introduction to marine transportation

Introduction to basic economic theory

Shipping supply and demand

Shipping supply and demand

Time value of money (regular cashflow patterns)

Time value of money (irregular cashflow patterns)

Time value of money (measures of merit - NPV, RFR, AAC, PBR, etc)

Depreciation and tax

Cost breakdown and voyage analysis

Introduction to shipping market

Shipping markets and commodities

The tanker market (freight rates and contracts, WORLDSCALE index)

The tanker market (equivalency and behaviour of freight rates)

The tanker market (characteristics and structure of the market)

The tanker market (FOB and CIF prices, optimisation)

The tanker market (oil transportation network, minimisation of transportation cost)

Dry bulk markets

Liner market and container transportation


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