Maritime Economics Contents

Part 1: Introduction to shipping

Chapter 1: Sea Transport in the Global Economy
1.2The origins of sea trade 3000BC to 1450AD
1.3The global economy in the 15th century
1.4Opening global commerce 1450-1833
1.5The liner and tramp shipping era 1833-1950
1.6Containerisation, bulk & air transport 1950-2006
1.7The lessons from 5000 years of commercial shipping
Chapter 2: The Economic Organization of the Shipping Market
2.2Overview of the maritime industry
2.3The International transport industry
2.4The characteristics of sea transport demand
2.5The sea transport system
2.6The world merchant fleet
2.7The cost of sea transport
2.8The role of ports in the transport system
2.9The shipping companies who run the business
2.10The role of governments in shipping

Part 2: Shipping market economics

Chapter 3: Shipping Market Cycles
3.1Introducing the shipping cycle
3.2Characteristics of shipping market cycles
3.3Shipping cycles and shipping risk
3.4Overview of shipping cycles 1741-2007
3.5Sailing ship cycles 1741-1869
3.6Tramp market cycles, 1869-1936
3.7Bulk shipping market cycles 1945-2007
3.8Lessons From a Century of Cycles
3.9The prediction of shipping cycles
Chapter 4: Supply, Demand and Freight Rates
4.1The Shipping Market Model
4.2The Demand for Sea Transport
4.3The Supply of Sea Transport
4.4The Freight Rate Mechanism
Chapter 5: The Four Shipping Markets
5.1The decisions facing shipowners
5.2The four shipping markets
5.3The freight market
5.4The freight derivatives market
5.5The sale & purchase market
5.6The newbuilding market
5.7The demolition market

Part 3: Shipping company economics

Chapter 6: Costs, revenue & cashflow
6.1Cashflow and the art of survival
6.2Financial performance and investment strategy
6.3The cost of running ships
6.4The capital cost of the ship
6.5The revenue the ship earns
6.6Shipping accounts — the framework for decisions
6.7Four methods of computing the cash flow
6.8Valuing merchant ships
Chapter 7: Financing Ships and Shipping Companies
7.1Ship finance and shipping economics
7.2How ships have been financed in the past
7.3The world financial system and types of finance
7.4Financing ships with private funds
7.5Financing ships with bank loans
7.6Financing ships in the capital markets
7.7Financing ships with SPVs
7.8Appraising risk in ship finance
7.9Dealing with default
7.10The impact of finance on the shipping market
Chapter 8: Risk, return and shipping company economics
8.1The Performance of shipping investments
8.2The shipping company investment model
8.3Competition theory and the "normal" profit
8.4Pricing shipping risk

Part 4: Seaborne trade & transport systems

Chapter 9: The Geography of Maritime Trade
9.1The value added by seaborne transport
9.2Oceans, Distances and Transit Times
9.3The Maritime Trading Network
9.4European seaborne trade
9.5North American seaborne trade
9.6South America's seaborne trade
9.7Asia's seaborne trade
9.8African seaborne trade
9.9Middle East, central Asia & Russia's seaborne trade
9.10The Trade of Australia and Oceania
Chapter 10: The Principles of Maritime Trade
10.1The building-blocks of trade
10.2The countries that trade by sea
10.3Why countries trade
10.4Differences in production costs
10.5Trade due to differences in natural resources
10.6Commodity trade cycles
10.7The role of sea transport in trade
Chapter 11: Transport of Bulk Cargo
11.1The Commercial Origins of Bulk Shipping
11.2The bulk fleet
11.3The bulk trades
11.4Principles of bulk transport
11.5Practical aspects of bulk transport
11.6Liquid bulk transport
11.7The crude oil trade
11.8The oil products trade
11.9The major dry bulks trades
11.10The minor bulk trades
Chapter 12: Transport of Specialised Cargoes
12.1Introduction to specialised cargo transport
12.2The sea transport of chemicals
12.3The liquefied petroleum gas (LPG) trade
12.4The liquefied natural gas (LNG) trade
12.5The transport of refrigerated cargo
12.6Unit Load Cargo Transport
12.7Passenger Shipping
Chapter 13: Transport of General Cargo
13.2The Origins of the liner service
13.3Economic principles of liner operation
13.4General cargo and liner transport demand
13.5The liner shipping routes
13.6The liner companies
13.7The liner fleet
13.8The principles of liner service economics
13.9Pricing liner services
13.10Liner conferences and cooperative agreements
13.11Container ports and terminals

Part 5: The merchant fleet and transport supply

Chapter 14: The Ships That Supply The Transport
14.1What Type of Ship?
14.2Seven questions that define a design
14.3Ships for the general cargo Trades
14.4Ships for the dry bulk trades
14.5Ships for liquid bulk cargo
14.6Gas tankers
14.7Non-cargo ships
14.8Economic criteria for evaluating ship designs
Chapter 15: The Economics of Merchant Shipbuilding & Scrapping
15.1The role of merchant shipbuilding & recycling industries
15.2Regional structure of world shipbuilding
15.3Shipbuilding market cycles
15.4The economic principles
15.5The shipbuilding production process
15.6Shipbuilding costs and competitiveness
15.7The ship recycling industry
Chapter 16: The Regulation of the Maritime Industry
16.1How regulations affect maritime economics
16.2Overview of the regulatory system
16.3The classification societies
16.4The law of the sea
16.5The regulatory role of the flag state
16.6How maritime laws are made
16.7The International Maritime Organisation (IMO)
16.8The International Labour Organisation (ILO)
16.9The regulatory role of the coastal and port states
16.10The regulation of competition in shipping

Part 6: Forecasting & planning

Chapter 17: Maritime Forecasting and Market Research
17.1The approach to maritime forecasting
17.2Key elements in the forecast
17.3Preparing for the forecast
17.4Market forecasting methodologies
17.5Market research methodology
17.6Freight rate forecasting
17.7Developing a scenario analysis
17.8Analytical techniques
17.9Forecasting problems
Appendix 1: An Introduction to ship market modelling
Appendix 2: Tonnage Measurement and Conversion Factors
References and Recommended Reading