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2012/2013  KAN-CM_V88  Developments in International Shipping

English Title
Developments in International Shipping

Course information
Language English
Exam ECTS 7.5 ECTS
Type Elective
Level Full Degree Master
Duration One Semester
Course period Autumn
Changes in course schedule may occur
Monday 13.30-15.10, week 36-51
Time Table Please see course schedule at e-Campus
Study board
Study Board for MSc in Economics and Business Administration
Course coordinator
  • René Taudal Poulsen - Department of Innovation and Organizational Economics
Main Category of the Course
  • Globalization, International Business, markets and studies
  • Corporate and Business Strategy
  • Economics, macro economics and managerial economics
Last updated on 19-03-2013
Learning objectives
  • Identify drivers of demand and supply in the four main shipping markets
  • Explain how recent changes in the structure and institutions of international shipping alter the nature of decision-making for ship-owners and policy-makers
  • Apply theories and models from micro- and macroeconomics to the study of shipping markets
  • Apply theories on international trade/outsourcing and international regulation/governance literature to the study of recent developments and future challenges in international shipping
  • Critically evaluate new business opportunities in international shipping from a ship-investment perspective
Examination
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Developments in International Shipping:
Type of test Home Assignment
Marking scale 7-step scale
Second examiner No second examiner
Exam period December/January and February
Aids Open Book, Written Aid is permitted
Duration 24 Hours
Course content
The course introduces you to the economics and business of international shipping. The overall aim of the course is to give you knowledge about markets and regulation in the maritime sector and a basis for critically evaluating business opportunities in shipping. The course focuses on recent developments and future challenges in shipping markets and presents both ship-owning and policy making perspectives on the recent developments of the industry. Models and theories from micro- and macroeconomics are applied to the study of shipping markets, and theories from international economics and political sciences are applied to the study of change and challenges in international shipping.

The course is divided into two parts. The first part introduces you to the basics of maritime economics and business and presents the main actors in international shipping. The second part focuses on the most important recent developments and future challenges in international shipping, discussing the impact of regulation on international shipping and maritime businesses and regulatory responses to industry change.

The course covers the following themes:
  • Shipping markets and global trade
  • Forecasting
  • Economics of dry bulk shipping
  • Economics of tanker shipping (crude oil, product, chemicals, LPG and LNG)
  • Economics of liner shipping (containers, cars, refrigerated goods)
  • Maritime finance and risk management in shipping
  • The maritime nation
  • Regulatory framework
  • Outsourcing and reconfiguration of the maritime value chain
  • Transformations of maritime nations
  • Globalization of the maritime labor market
  • Global shift in shipbuilding
  • Current challenges and opportunities I: Green shipping
  • Current challenges and opportunities II: A future for maritime nations
Teaching methods
The teaching of this course will be based on a variety of learning methods, such as lectures, group and class discussions as well as case studies.
Expected literature


Textbook:

  • Stopford, M. (2009). Maritime Economics. London: Routledge.

Selected articles (indicative):

  • DeSombre, E. R. (2002). Globalization, competition, and convergence: shipping and the race to the middle. Global Governance, 14(2), pp. 179-198.
  • Kumar, S. and J. Hoffmann (2002). Globalisation: the maritime nexus. In C. Grammenos (ed.), The Handbook of Maritime Economics. London: Lloyd’s, pp. 35-62.
  • Leggate, H. and J. McConville (2002). The economics of the seafaring labour market. In C. Grammenos (ed.), The Handbook of Maritime Economics. London: Lloyd’s, pp. 443-468.
  • Mitroussi, K. (2003). Third-party ship management: the case of separation of ownership and management in the shipping context. Maritime Policy and Management, 30(1), pp. 77-90.
  • Nguyen, H.-O. (2011). Explaining variations in national fleet across shipping nations. Maritime Policy and Management, 38(6), pp. 567-573.
  • Poulsen, R. T. (2007). Liner shipping and technological innovation: Ostasiat and the container revolution, 1963-1967. Scandinavian Economic History Review, 55(2), pp. 83-100.
  • Sletmo, G. K. (2002). The rise and fall of national shipping policies. In C. Grammenos (ed.), The Handbook of Maritime Economics. London: Lloyd’s, pp. 471-494.
Last updated on 19-03-2013