• Identify drivers of demand and supply in the main shipping markets.
• Apply theories and models from micro- and macroeconomics to the study of shipping markets.
• Apply theories from international regulation/governance literature to the study of shipping policies.
• Analyze developments and emerging issues in global shipping as seen from ship-owning and policy-making perspectives.
• Critically evaluate new business opportunities in international shipping.

This course introduces students to the economics and management of international shipping. The overall aim of the course is to give students knowledge about shipping markets and regulation of shipping and a basis for critically evaluating business opportunities in a highly volatile and international industry.

The course focuses on recent developments and future challenges in shipping markets and presents both ship-owning and policy making perspectives on the subject. Models and theories from micro- and macroeconomics are applied to the study of shipping markets, and theories from international economics and governance literature are applied to the study of maritime policy and regulation. The course enables students to identify emerging trends in shipping markets and shipping regulation and critically assess new business opportunities accordingly.
 

The course is divided into three main parts:

In the first part of the course we will look into the global role of shipping and the characteristics of different shipping segments. The students will be introduced to the economics of dry bulk shipping, tanker shipping, container shipping and specialized shipping. In this part we will also focus on freight market forecasting, ship management, ship finance, and risk management.

In the second part of the course we will examine how regulation affects the different shipping segments. The students will be introduced to the maritime regulatory bodies at the international, supranational and national level. We will use different governance and compliance theories to examine how regulations are carried out, how they are enforced, and how they affect different shipping segments. We will also discuss the problems that arise when trying to regulate a global industry and discuss how regulatory inconsistencies may affect shipping companies.

Finally, in the third part of the course, we will discuss how different types of regulation affect the corporate strategies of ship operators and to what extent the regulatory framework may become a competitive advantage for shipping companies. This part includes guest lectures from Danish shipping companies where we will hear how the strategies of companies in different segments are affected by current and future regulation.

This course is part of the minor in Maritime Business

 

Literature

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Danish Ship Finance, 2019. Shipping Market Review, 2019

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Iversen, M.J. & Tenold, S., 2014. “The two regimes of postwar shipping: Denmark and Norway as case studies, 1960-2010. International Journal of Maritime History, vol. 26 (4), p. 720-733

Johansen, H., Sunesen, E.R., Arias, M.N., Winiarczyk, M. & Westergaard-Kabelmann, T.,2013. On Course for a Better World, Report from Copenhagen Economics, Funded by Danish Business Authority, The Danish Maritime Fund, Lauritzen Foundation, D/S Norden, D/S Orients Fond and Torm Foundation, May 6^th 2013, 112-131 (on canvas)

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Yliskylä-Peuralathi, Johanna, and Gritsenko, Daria (2014): Binding rules or voluntary actions? A conceptual framework for CSR in shipping. WMU Journal of Maritime Affairs 13, p. 251-268

Yuen, Kum Fai, and Thai, Vinh V. (2017) Corporate Social Responsibility and service quality provision in shipping firms: Financial synergies or trade-offs? Maritime Policy and Management 44(1): p. 131-146.