Part 1: Introduction to shipping |
| Chapter 1: Sea Transport in the Global Economy |
| 1.1 | Introduction |
| 1.2 | The origins of sea trade 3000BC to 1450AD |
| 1.3 | The global economy in the 15th century |
| 1.4 | Opening global commerce 1450-1833 |
| 1.5 | The liner and tramp shipping era 1833-1950 |
| 1.6 | Containerisation, bulk & air transport 1950-2006 |
| 1.7 | The lessons from 5000 years of commercial shipping |
| 1.8 | Summary |
| Chapter 2: The Economic Organization of the Shipping Market |
| 2.1 | Introduction |
| 2.2 | Overview of the maritime industry |
| 2.3 | The International transport industry |
| 2.4 | The characteristics of sea transport demand |
| 2.5 | The sea transport system |
| 2.6 | The world merchant fleet |
| 2.7 | The cost of sea transport |
| 2.8 | The role of ports in the transport system |
| 2.9 | The shipping companies who run the business |
| 2.10 | The role of governments in shipping |
| 2.11 | Summary |
Part 2: Shipping market economics |
| Chapter 3: Shipping Market Cycles |
| 3.1 | Introducing the shipping cycle |
| 3.2 | Characteristics of shipping market cycles |
| 3.3 | Shipping cycles and shipping risk |
| 3.4 | Overview of shipping cycles 1741-2007 |
| 3.5 | Sailing ship cycles 1741-1869 |
| 3.6 | Tramp market cycles, 1869-1936 |
| 3.7 | Bulk shipping market cycles 1945-2007 |
| 3.8 | Lessons From a Century of Cycles |
| 3.9 | The prediction of shipping cycles |
| 3.10 | Summary |
| Chapter 4: Supply, Demand and Freight Rates |
| 4.1 | The Shipping Market Model |
| 4.2 | The Demand for Sea Transport |
| 4.3 | The Supply of Sea Transport |
| 4.4 | The Freight Rate Mechanism |
| 4.5 | Summary |
| Chapter 5: The Four Shipping Markets |
| 5.1 | The decisions facing shipowners |
| 5.2 | The four shipping markets |
| 5.3 | The freight market |
| 5.4 | The freight derivatives market |
| 5.5 | The sale & purchase market |
| 5.6 | The newbuilding market |
| 5.7 | The demolition market |
| 5.8 | Summary |
Part 3: Shipping company economics |
| Chapter 6: Costs, revenue & cashflow |
| 6.1 | Cashflow and the art of survival |
| 6.2 | Financial performance and investment strategy |
| 6.3 | The cost of running ships |
| 6.4 | The capital cost of the ship |
| 6.5 | The revenue the ship earns |
| 6.6 | Shipping accounts — the framework for decisions |
| 6.7 | Four methods of computing the cash flow |
| 6.8 | Valuing merchant ships |
| 6.9 | Summary |
| Chapter 7: Financing Ships and Shipping Companies |
| 7.1 | Ship finance and shipping economics |
| 7.2 | How ships have been financed in the past |
| 7.3 | The world financial system and types of finance |
| 7.4 | Financing ships with private funds |
| 7.5 | Financing ships with bank loans |
| 7.6 | Financing ships in the capital markets |
| 7.7 | Financing ships with SPVs |
| 7.8 | Appraising risk in ship finance |
| 7.9 | Dealing with default |
| 7.10 | The impact of finance on the shipping market |
| 7.11 | Summary |
| Chapter 8: Risk, return and shipping company economics |
| 8.1 | The Performance of shipping investments |
| 8.2 | The shipping company investment model |
| 8.3 | Competition theory and the "normal" profit |
| 8.4 | Pricing shipping risk |
| 8.5 | Summary |
Part 4: Seaborne trade & transport systems |
| Chapter 9: The Geography of Maritime Trade |
| 9.1 | The value added by seaborne transport |
| 9.2 | Oceans, Distances and Transit Times |
| 9.3 | The Maritime Trading Network |
| 9.4 | European seaborne trade |
| 9.5 | North American seaborne trade |
| 9.6 | South America's seaborne trade |
| 9.7 | Asia's seaborne trade |
| 9.8 | African seaborne trade |
| 9.9 | Middle East, central Asia & Russia's seaborne trade |
| 9.10 | The Trade of Australia and Oceania |
| 9.11 | Summary |
| Chapter 10: The Principles of Maritime Trade |
| 10.1 | The building-blocks of trade |
| 10.2 | The countries that trade by sea |
| 10.3 | Why countries trade |
| 10.4 | Differences in production costs |
| 10.5 | Trade due to differences in natural resources |
| 10.6 | Commodity trade cycles |
| 10.7 | The role of sea transport in trade |
| 10.8 | Summary |
| Chapter 11: Transport of Bulk Cargo |
| 11.1 | The Commercial Origins of Bulk Shipping |
| 11.2 | The bulk fleet |
| 11.3 | The bulk trades |
| 11.4 | Principles of bulk transport |
| 11.5 | Practical aspects of bulk transport |
| 11.6 | Liquid bulk transport |
| 11.7 | The crude oil trade |
| 11.8 | The oil products trade |
| 11.9 | The major dry bulks trades |
| 11.10 | The minor bulk trades |
| 11.11 | Summary |
| Chapter 12: Transport of Specialised Cargoes |
| 12.1 | Introduction to specialised cargo transport |
| 12.2 | The sea transport of chemicals |
| 12.3 | The liquefied petroleum gas (LPG) trade |
| 12.4 | The liquefied natural gas (LNG) trade |
| 12.5 | The transport of refrigerated cargo |
| 12.6 | Unit Load Cargo Transport |
| 12.7 | Passenger Shipping |
| 12.8 | Summary |
| Chapter 13: Transport of General Cargo |
| 13.1 | Introduction |
| 13.2 | The Origins of the liner service |
| 13.3 | Economic principles of liner operation |
| 13.4 | General cargo and liner transport demand |
| 13.5 | The liner shipping routes |
| 13.6 | The liner companies |
| 13.7 | The liner fleet |
| 13.8 | The principles of liner service economics |
| 13.9 | Pricing liner services |
| 13.10 | Liner conferences and cooperative agreements |
| 13.11 | Container ports and terminals |
| 13.12 | Summary |
Part 5: The merchant fleet and transport supply |
| Chapter 14: The Ships That Supply The Transport |
| 14.1 | What Type of Ship? |
| 14.2 | Seven questions that define a design |
| 14.3 | Ships for the general cargo Trades |
| 14.4 | Ships for the dry bulk trades |
| 14.5 | Ships for liquid bulk cargo |
| 14.6 | Gas tankers |
| 14.7 | Non-cargo ships |
| 14.8 | Economic criteria for evaluating ship designs |
| 14.9 | Summary |
| Chapter 15: The Economics of Merchant Shipbuilding & Scrapping |
| 15.1 | The role of merchant shipbuilding & recycling industries |
| 15.2 | Regional structure of world shipbuilding |
| 15.3 | Shipbuilding market cycles |
| 15.4 | The economic principles |
| 15.5 | The shipbuilding production process |
| 15.6 | Shipbuilding costs and competitiveness |
| 15.7 | The ship recycling industry |
| 15.8 | Summary |
| Chapter 16: The Regulation of the Maritime Industry |
| 16.1 | How regulations affect maritime economics |
| 16.2 | Overview of the regulatory system |
| 16.3 | The classification societies |
| 16.4 | The law of the sea |
| 16.5 | The regulatory role of the flag state |
| 16.6 | How maritime laws are made |
| 16.7 | The International Maritime Organisation (IMO) |
| 16.8 | The International Labour Organisation (ILO) |
| 16.9 | The regulatory role of the coastal and port states |
| 16.10 | The regulation of competition in shipping |
| 16.11 | Summary |
Part 6: Forecasting & planning |
| Chapter 17: Maritime Forecasting and Market Research |
| 17.1 | The approach to maritime forecasting |
| 17.2 | Key elements in the forecast |
| 17.3 | Preparing for the forecast |
| 17.4 | Market forecasting methodologies |
| 17.5 | Market research methodology |
| 17.6 | Freight rate forecasting |
| 17.7 | Developing a scenario analysis |
| 17.8 | Analytical techniques |
| 17.9 | Forecasting problems |
| 17.10 | Summary |
| Appendix 1: An Introduction to ship market modelling |
| Appendix 2: Tonnage Measurement and Conversion Factors |
| Notes |
| References and Recommended Reading |
| Index |
