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2022/2023  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 - Department of Strategy and Innovation (SI)
Contact information: https:/​/​e-campus.dk/​studium/​student-hub/​aabningstider-og-kontaktinformation
Main academic disciplines
  • Globalisation and international business
  • Strategy
  • Economics
Teaching methods
  • Blended learning
Last updated on 11-02-2022

Relevant links

Learning objectives
  • 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-point grading 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.)
  • In Paper format: Books (including translation dictionaries), compendiums and notes
The student will have access to
  • Access to the personal drive (S-drive) on CBS´ network
  • basic IT application package
Make-up exam/re-exam Home assignment - written product
Size of written product: Max. 10 pages
Assignment type: Written assignment
Duration: 24 hours to prepare
Course content, structure and pedagogical approach

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 supply 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) CSR and corruption, (5) maritime security, and (6) regulation of worker’s rights. This part will include case-based class discussions of current topics in the maritime sector 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. We will explore how companies can attempt to influence the shape of future regulation and discuss if changes in the regulatory framework may constitute a competitive advantage for some shipping companies. This part includes company visits to Copenhagen-based shipping companies in different segments where we will learn how the companies are affected by current and future regulation.

Description of the teaching methods
A combination of lectures, case based discussions, external guest lectures and company visits.
Feedback during the teaching period
Voluntary: Students will receive an exam question from one of the past years, and individually submit 1-3 pages of text.
Student workload
Class hours 42 hours
Preparation 164 hours
exam 37 hours
Expected literature

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


Benderson, Martin (2016): “The Maritime Anti-Corruption Network. Tackling Corruption through Collective Action”. The Journal of Sustainable Mobility 3(2): 94-100


Bhattacharya, Syamantak (2012): “The effectiveness of the ISM Code: A qualitative enquiry”. Marine Policy, 36: 528-535


Bloor, Michael, Thomas, Michelle, & Lane, Tony (2000): “Health Risks in the global shipping industry: An overview. Health, Risk & Society, 2(3): 329-340


Celik, Metin & Topcu, Ilker (2014): “A decision-making solution to ship flagging out via administrative maritime strategies. In Maritime Policy and Management, 41:1, p. 112-127


Chalmers, Adam William (2013): Trading information for access: informational lobbying strategies and interest group access to the European Union. Journal of European Public Policy 20:1, p. 39-58


De Kat, J.O. and Mouawad, J. (2019): ”Green Ship Technologies” in H.N. Psaraftis (ed.): Sustainable Shipping. A Cross-Disciplinary View, Springer, p. 83-92.


Exarchopoulos, Georgios, Zhang, Pengfei, Pryce Roberts, Nicola, and Zhao, Minghua (2018): Seafarer’ welfare: A critical review of the related legal issues under the Maritime Labour Convention 2006, Marine Policy 93: p. 62-70.


ICS Flag State Performance table, 2021/2022

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


Johansen, Helle, Sunesen, Eva R., Arias, Miguel, N., Winiarczyk, Marcin & Westergaard-Kabelmann, Thomas (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 6th 2013, p. 112-131


Kapalidis, Polychronis (2020): “Cybersecurity at Sea”, in: L. Otto (ed.) Global Challenges in Maritime Security, Springer, p. 127-143


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


Lal, Rajiv & Johnson, S. (2018): Maersk: Betting on Blockchain. Harvard Business School, N9-518-089, 2018, 24 p.


Liss, Carolin (2020): “Non-state Actors in the Maritime Domain: Non-state Responses to Maritime Security Challenges”, in: L. Otto (ed.) Global Challenges in Maritime Security, Springer, p. 211-228


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


Mikelis, N. (2019) “Ship Recycling”, in H.N. Psaraftis (ed.): Sustainable Shipping. A Cross-Disciplinary View, Springer, p. 223-239


Oliver, Christine & Holzinger, Ingo (2008): “The Effectiveness of Strategic Political Management: A Dynamic Capabilities Framework”. In: Academy of Management Review, vol. 33(2), 496-520.


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


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


Roe, Michael (2009): “Multi-level and polycentric governance: effective policy making for shipping” in: Maritime Policy and Management, February 2009, vol. 36 (1), p. 39-56


Sampson, Helen & Bloor, Michael (2007): “When Jack Gets out of the Box: The Problems of Regulating a Global Industry. In:  Sociology, vol. 41 (3), June 2007, p. 551-569


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


Serra, Patricia & Fancello, Gianfranco (2020) “Towards the IMO’s GHG Goals: A Critical Overvoew of the Perspectives and Challenges of the Main Options for Decarbonizing International Shipping”. Sustainability 12: 1-32


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 (2015): ”The regionalization of maritime governance: Towards a polycentric governance system for sustainable shipping in the European Union”. In: Ocean & Coastal Management 117, p. 23-31


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


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.


Zis, Thalis and Cullinane, Kevin (2020): “The desulphurization of shipping: Past, present and the future under a global cap”. In: Tramsportation Research Part D: Transport and Environment, vol. 82, May 2020:


Last updated on 11-02-2022