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2017/2018  BA-BISHV1000U  Markets, Regulation and Security in the Maritime Sector

English Title
Markets, Regulation and Security in the Maritime Sector

Course information

Language English
Course ECTS 7.5 ECTS
Type Elective
Level Bachelor
Duration One Quarter
Start time of the course First Quarter
Timetable Course schedule will be posted at calendar.cbs.dk
Min. participants 30
Max. participants 100
Study board
Study Board for BSc in International Shipping and Trade
Course coordinator
  • Thomas Roslyng Olesen - SI
Contact information: https:/​/​e-campus.dk/​studium/​student-hub/​aabningstider-og-kontaktinformation
Main academic disciplines
  • Globalization and international business
  • Strategy
  • Economics
Last updated on 14-12-2017

Relevant links

Learning objectives
To achieve the grade 12, students should meet the following learning objectives with no or only minor mistakes or errors:
  • Identify and characterize the most important regulations and regulatory bodies in international shipping
  • Apply theories from the international regulation and governance literature to the study of policymaking, regulation and enforcement in international shipping
  • Apply a broader stakeholder perspective to the market formation in different shipping segments
  • Analyze and discuss how different stakeholders influence the commercial and operational strategies of shipping companies in different shipping segments
Markets, Regulation and Security in the Maritime Sector:
Exam ECTS 7,5
Examination form Written sit-in exam on CBS' computers
Individual or group exam Individual exam
Assignment type Written assignment
Duration 4 hours
Grading scale 7-step scale
Examiner(s) One internal examiner
Exam period Autumn
Aids Limited aids, see the list below:
The student is allowed to bring
  • USB key for uploading of notes, books and compendiums in a non-executable format (no applications, application fragments, IT tools etc.)
  • Books (including translation dictionaries), compendiums and notes in paper format
The student will have access to
  • Access to the personal drive (S-drive) on CBS´ network
At all written sit-in exams the student has access to the basic IT application package (Microsoft Office (minus Excel), digital pen and paper, 7-zip file manager, Adobe Acrobat, Texlive, VLC player, Windows Media Player). PLEASE NOTE: Students are not allowed to communicate with others during the exam : Read more about exam aids and IT application packages here
Make-up exam/re-exam Home assignment - written product
Size of written product: Max. 10 pages
Assignment type: Written assignment
Duration: Written product to be submitted on specified date and time.
Course content and structure

This course aims to develop the students’ knowledge of maritime economics with a specific focus on the relationship between market regulation and corporate strategies in three shipping segments: Dry bulk, product tank and container liner shipping. The students will obtain knowledge of the regulatory and institutional market formation in the different segments with empirical cases of maritime companies and organizations in Copenhagen.


The course is divided into three main parts:


In the first part of the course we will focus on the actors that regulate shipping and how they regulate. 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, we will examine and discuss the impact of value chain governance on the strategies of operators in different shipping segments.


In the second part of the course we will examine the different areas that are being regulated in greater depth. This includes (1) environmental regulation, (2) taxation and flag state requirements, (3) competition laws, (4) maritime security, and (5) regulation of worker’s rights. This part will include case-based class discussions and guest lectures from key stakeholders including the Danish Maritime Authorities and BIMCO.


Finally, in the third part of the course, we will examine how different types of regulation affect the corporate strategies of ship operators in the product tanker segment, the dry-bulk segment and in container liner shipping. In relation to this we will discuss to what extent the regulatory framework may become a competitive advantage for some shipping companies. This part includes company visits to Copenhagen-based shipping companies in the three segments where we will hear how the companies are affected by current and future regulation.

Teaching methods
A combination of lectures, case based discussions, external guest lectures and company visits
Feedback during the teaching period
The students will receive feedback from group works in class
Student workload
Class hours 42 hours
Preparation 84 hours
Expected literature

Adăscăliţei, Oana (2014): ”The Maritime Labour Convention 2006 – a Long- Awaited Change in the Maritime Sector”. In: Procedia – Social and Behavioral Sciences, 149 (2014), p. 8-13 


Alix, Yann; Slack, Brian & Comtois, Clause (1999): “Alliance or acquisition? Strategies for growth in the container shipping industry, the case of CP ships”. In: Journal of Transport Geography, vol. 7, p. 203-208


Beardsley S.C., Bugrov D. & Enriquez L. (2005): ”The role of regulation in strategy Companies have everything to gain from linking them.” The McKinsey Quarterly, Vol. 4, p. 1-6


BIMCO (2016), The Guidelines on Cyber Security onboard Ships, Report produced by BIMCO, 1 February 2016, 32 p.


Ince & Co (2012): Shipping. Piracy – Issues arising from the use of armed guards. Paper published by Ince & Co International LLP, p. 1-4


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


Iversen, Martin; Nielsen, Peter T.A. & Pretzmann, Louise (2015): Ownership, Finance and Strategy in the Segments of Product Tankers. A Business Historical Analysis. CBS Maritime Report. 38 p.


Jensen, Lars (2015): “Challenges in Maritime Cyber-Resilience”. In: Technology Innovation Management Review, April, 2015, p. 35-39


Klein, Natalie (2011): Maritime Security and the Law of the Sea, Oxford University Press, p. 1-11


Lister, Jane (2015): “Green Shipping: Governing Sustainable Maritime Transport”. In: Global Policy, vol. 6 (2), May 2015, p. 118-129


Liwång, Hans; Sörenson, Karl & Österman, Cecilia (2015): “Ship security challenges in high-risk areas: manageable or insurmountable?. In: WMU Journal of Maritime Affairs. Vol. 14. P. 201-217


Lorenzon, Filippo & Nazzini, Renato (2009): “Setting sail on a sea of doubt: Tramp shipping pools, competition law and the noble quest for certainty”. In: Competition and Regulation in Shipping and Shipping Related Industries, Edited by Antonis Antapassis, Lia Athanassiou & Erik Rosaeg, Leiden, NDL: Martinus Nijhoff, p. 94-116


Lyridis, Dimitrios V. & Zacharioudakis, Panayotis (2012): “Liquid Bulk Shiping”. In: The Blackwell Companion to Maritime Economics, First Edition. Edited by Wayne K. Talley. Blackwell Publishing Ltd. p. 205-229


Marlow, Peter & Mitroussi, Kyriaki (2012): “Shipping Taxation”. In: The Blackwell Companion to Maritime Economics, First Edition, Edited by Wayne K. Talley, Blackwell Publishing Ltd., p. 304-320


McConnell, Moria L. (2011): “The Maritime Labour Convention, 2006 – reflections on challenges for flag State implementation”. In: WMU Journal of Maritime Affairs, vol. 10, p. 127-141


McKinnon, Alan (2014): “The possible influence of the shipper on carbon emissions from deep-sea container supply chains: An empirical analysis”. In: Maritime Economics & Logistics, vol. 16 (1), p. 1-19


Notteboom, Theo (2012): “Container Shipping”. In: The Blackwell Companion to Maritime Economics, First Edition. Edited by Wayne K. Talley. Blackwell Publishing Ltd. p. 230-262


Olesen, Thomas Roslyng (2015): Offshore Supply Industry Dynamics. The Main Drivers in the Energy Sector and the Value Chain Characteristics for Offshore Oil and Gas and Offshore Wind.  CBS Maritime Report, p. 8-12


Panayides, Photis M. & Wiedmer, Robert (2011): “Strategic alliances in container liner shipping”. In: Research in Transportation Economics, vol. 32, p. 25-38


Papa, Paola (2013): “US and EU strategies for maritime transport security: A comparative perspective”. In: Transport Policy, vol. 28, 2013, p. 75-85


Premti, Anila (2016): Liner Shipping: Is there a way for more competition?, United Nations Conference on Trade and Development, Discussion Paper, No. 224, March 2016, p. 1-33


Reinhardt, Forest L.; Casadesus-Mansanell, Ramon & Nellemann, Frederik (2012): Mærsk Line and the Future of Container Shipping. Harvard Business School, N9-712-449, March 27, 2012, 25 p.


Selkou, Evangelia & Roe, Michael (2004): Globalisation, Policy and Shipping. Fordism, Post-Fordism and the European Union Maritime Sector. Transport Economics, Management and Policy, Edward Elgar Publishing, Northampton, MA, p. 2-14


Shinohara, Masato (2005): “Quality Shipping and Incentive Schemes: From the Perspective of the Institutional Economics”. In: Maritime Economics & Logistics, 2005 (7), p. 281-295


Stopford, Martin (2009): Shipping Economics, Routledge, p. 136-160, 512-524+562


Tenold, Stig (2000): A Most Convenient Flag – The Development of the Singapore Ship Registry, 1969-82, Centre for International Economics and Shipping, SNF project no 1065, Foundation for Research in Economics and Business Administration, Bergen, p. 1-33


van Leeuwen, Judith & Kern, Kristine (2013): ”The External Dimension of European Union Marine Governance: Institutional Interplay between the EU and the International Maritime Organization”. In: Global Environmental Politics, 13:1, February 2013, p. 69-87


Walters, David; James, Philip; Sampson, Helen; Bhattacharya, Syamantak; Xue, Conghua & Wadsworth, Emma (2016): “Supply Chain Leverage and Regulating Health and Safety Management in Shipping”. In: Relations Industrielles/Industrial Relations, 71 (1), p. 33-56


Wright, Paul G. (2012): “Shipping Regulatory Institutions and Regulations”. In: The Blackwell Companion to Maritime Economics, First Edition, Edited by Wayne K. Talley, Blackwell Publishing Ltd., p. 281-303


Wuisan, Lindsey; van Leeuwen, Judith & van Koppen, C.S.A. (2012): “Greening international shipping through private governance: A case study of the Clean Shipping Project”. In: Marine Policy, vol. 36, p. 165-173


Zhang, Pengfei & Phillips, Edward (2016): “Safety first: Reconstructing the concept of seaworthiness under the maritime labour convention 2006”. In: Marine Policy. Vol. 67, p. 54-59

Last updated on 14-12-2017