• 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

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 shipping, tanker shipping and container 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 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.

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