Welcome, my name is Martin Stopford and this website accompanies my book Maritime Economics 3Ed. Here we are in April 2022, year three of the great Covid Pandemic. Shipping businesses are struggling to balance unexpectedly strong short term earnings with difficult investment decisions. Climate change and digital technology are still at the top of their agenda and the war in Ukraine, a human tragedy, has added yet another dimension to these decisions. Our feature article (see right column) provides a reminder of the seven “big cycles” shipowners have had to deal with over the last seventy years. It starts with the Asian Flu pandemic in 1957-58 when millions died. I went through six of these cycles myself, and the strange goings-on today are typical of the things that happen when shipping hits a “big wave”. For example, today's bulker “super boom” is remarkably like the events after the 1973 Oil Crisis cycle. In 1975 tankers were in deep distress, but small bulkers were raking in the cash. Plus ça change!
The Maritime Lectures Website ---------13th April 2022
What is mlecs.com?
mlecs.com is the companion to Maritime Economics 3rd edition. It provides lectures and other material to help students and professionals learn about the maritime business. The chapters follow the format of ME3 and are divided into 10-20 minute videos ("units"), each covering a topic.
To study the chapters you need to join the club. Go to the login screen; enter your personal details; set a password; and you're off. On the home page, left hand column, click e.g. "Chapter 1" to view the content of that chapter. Or click the "Topical Lecture" radio button and select the topic you are interested in.
Video units mainly focus on the big picture, emphasizing key issues and their practical relevance. To follow up in detail, read the book! The 20 lectures contain 120 video units, plus a short video introducing each lecture. Study material for each unit includes video, charts in PDF, summary text, and an interactive test to review progress. To begin just click "Maritime lectures".
In the Study Centre, the chapters are organised into courses. Sign up for a course and the website will track your progress, including tests etcetera. At the end when you have completed all the chapters and units, you'll get a report of the work done and a certificate of completion. This is a new site so do contact us if you have any problems or suggestions.
The Maritime Lectures DatabaseThe website is built around the comprehensive Maritime Lectures database. This includes lectures; careers information (a database of Maritime courses); a chance to advertise a job for a recent graduates (we link in with universities on this); book reviews and the site where you can publish short research papers (if approved).
Who should use mlecs.com?mlecs.com supports maritime teachers by allowing students to cover basic learning material in their own time, allowing classes to be devoted to more interactive teaching; case studies; debates; field trips et cetera.
The material consists of 20 chapters, each divided into 6 or 7 videos ("units") lasting about 10 minutes each. Along with the video, students can download slides; notes; and tests to check comprehension. Teachers who want to use the material themselves can download PowerPoint slides.
The chapters have also been organised into 6 courses, each covering one area of the business. Course 1 is historical; course 2 covers markets; course 3 covers management accounting; course 4 covers the sea trade; course 5 covers ship design, shipbuilding and regulations; and course 6 covers forecasting, planning and units of measurement. Each of these courses can provide, for example, the basis for an elective subject.
mlecs.com is also ideal for businesses organising in-house training. It allows trainees to work through the study material at their own pace. The flexible online material allows training staff to tailor programmes. With over 150 short videos, it is easy to reorganise the units into bespoke courses, covering issues of particular relevance to the company.