Shipping Economics and Trade

Module overview

This module provides an in-depth exploration of the economic principles that drive the global shipping industry, equipping students with critical analytical skills for effective decision making. The module covers the structure of the international shipping market, the major global trade routes, the commodities transported and the intricacies of various freight contracts. Students will explore the role of shipbroking and chartering, the dynamics of the four main shipping markets - cargo, newbuilding, second-hand and scrapping - and the operational differences between liner and bulk shipping. With a focus on sustainability, the course also examines the impact of environmental regulations and green technologies on maritime operations. Through theoretical study and practical case studies, students will be prepared to navigate and influence the evolving challenges of the shipping industry, with a particular emphasis on sustainable practices.

Aims and Objectives

Learning Outcomes

Knowledge and Understanding

Having successfully completed this module, you will be able to demonstrate knowledge and understanding of:

The impact of regulatory frameworks and environmental sustainability on maritime operations and business strategies.
The roles and functions of shipbroking, chartering, and the different shipping markets including freight, newbuild, second-hand, and scrap markets.
The structure and dynamics of global shipping markets and the economic forces that influence them.

Subject Specific Intellectual and Research Skills

Having successfully completed this module you will be able to:

Analyse the economic performance of shipping markets and predict future trends based on historical data and current market dynamics.
Develop strategic responses to changes in the global economic environment affecting maritime operations, including shifts in trade patterns and regulatory changes.
Evaluate the economic viability of different shipping practices and technologies in terms of operational efficiency and environmental impact.
Understand and apply principles of risk management and financial assessment in the maritime context.

Transferable and Generic Skills

Having successfully completed this module you will be able to:

Demonstrate skills in written and oral communication regarding the analysis of issues relating to shipping finance, through the group discussions, assignments, and examination.

Learning and Teaching

Teaching and learning methods

Weekly lectures will cover the key topics of this module, supplemented by numerical and theoretical exercises. These exercises will enhance your learning by offering opportunities to practice numerical and problem-solving tasks and receive feedback. Additionally, you will have opportunities for both guided and independent reading.

Study time
Type	Hours
Teaching	24
Independent Study	126
Total study time	150

Resources & Reading list

Textbooks

Martin Stopford. Maritime economics. Routledge.

Costas Grammenos. The handbook of maritime economics and business. Routledge.

Assessment

Summative

This is how we’ll formally assess what you have learned in this module.

Breakdown
Method	Percentage contribution
Coursework Presentation	20%
Group Coursework	80%

Referral

This is how we’ll assess you if you don’t meet the criteria to pass this module.

Breakdown
Method	Percentage contribution
Individual report	100%

Repeat

An internal repeat is where you take all of your modules again, including any you passed. An external repeat is where you only re-take the modules you failed.

Breakdown
Method	Percentage contribution
Individual report	100%

Repeat Information

Repeat type: Internal & External