2025/2026 BA-BISHO3002U Advanced Maritime Economics
English Title | |
Advanced Maritime Economics |
Course information |
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Language | English |
Course ECTS | 7.5 ECTS |
Type | Mandatory |
Level | Bachelor |
Duration | One Quarter |
Start time of the course | Second Quarter, Autumn |
Timetable | Course schedule will be posted at calendar.cbs.dk |
Study board |
Study Board for Global Relations
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Course coordinator | |
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Main academic disciplines | |
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Teaching methods | |
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Last updated on 26-05-2025 |
Relevant links |
Learning objectives | ||||||||||||||||||||||||||
At the end of the course, the students must be
able to:
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Examination | ||||||||||||||||||||||||||
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Course content, structure and pedagogical approach | ||||||||||||||||||||||||||
Advanced Maritime Economics focuses on shipping company performance. The course analyses factors that influence shipping firms’ performance and explores the causes for performance differences. It qualifies students to engage in strategic management processes within shipping companies and prepares them for their subsequent work with their BSc theses.
Advanced Maritime Economics covers financial, environmental, and social dimensions of firm performance and discusses to what extent performance along these dimensions align or conflict. The course draws on different analytical lenses from strategic management, corporate finance, and sustainability studies and provides students with analytical tools that may help firms improve their performance.
In the course, students also learn how to evaluate the quality of maritime research. They learn how to apply the most common research quality criteria (novelty, rigor, significance, reliability and validity) in assessments of maritime research. They get an opportunity to evaluate several studies on shipping company performance from the syllabus and design their own study on shipping company performance.
The course covers a broad spectrum of shipping segments, from container shipping over tankers and dry bulkers to shipping niches, and leverages on previous courses in the International Shipping and Trade program. |
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Research-based teaching | ||||||||||||||||||||||||||
CBS’ programmes and teaching are research-based. The following
types of research-based knowledge and research-like activities are
included in this course:
Research-based knowledge
Research-like activities
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Description of the teaching methods | ||||||||||||||||||||||||||
Panopto videos on key concepts will be available
on Canvas at the beginning of the semester. The videos will provide
students with analytical tools to evaluate different dimensions of
shipping company performance and assess the quality of maritime
research.
The course has four consecutive days of teaching on campus, which combine classical lectures, student case work, and feedback sessions. Some of the classes will zoom in on selected academic journal articles from the syllabus and evaluate them in terms of research quality. A guest lecture by a shipping manager will illustrate some of the performance dilemmas that shipping managers face and the ways by which they can improve different aspects of firm performance. |
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Feedback during the teaching period | ||||||||||||||||||||||||||
Groups of students with 2-3 members are
encouraged to submit a 10 pages essay on draft for their exam
assignment two weeks before the classes on campus. The teacher will
provide written and oral feedback to them during the classes on
campus.
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Student workload | ||||||||||||||||||||||||||
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Expected literature | ||||||||||||||||||||||||||
Indicative literature
Acciaro, M., & Nair, A. (2018). Alternative Fuels for Shipping: Optimising Fleet Composition under Environmental and Economic Constraints. International Journal of Transport Economics XLV, 3, 439-460.
Barney, J. B. (2020). Measuring Firm Performance in a Way that is Consistent with Strategic Management Theory. Academy of Management Discoveries 6(1), 5-7.
Clark, T., Foster, L., Sloan, L. & Bryman A. (2023). Bryman’s Social Science Methods. Sixth edition, Oxford: Oxford University Press.
Delen, D., Kuzey, C., & Uyar, A. (2013). Measuring Firm Performance Using Financial Ratios: A Decision Tree Approach. Expert Systems with Applications 40(10), 3970-3983.
Epstein, M. J., Buhovac, A. R., & Yuthas, K. (2015). Managing Social, Environmental and Financial Performance Simultaneously. Long Range Planning 48(1), 35-45
Jenssen, J. I., & Randøy, T. (2006). The Performance Effect of Innovation in Shipping Companies. Maritime Policy & Management 33(4), 327-343.
Kang, H. W., Wang, G. W., Bang, H. S., & Woo, S. H. (2016). Economic Performance and Corporate Financial Management of Shipping Firms. Maritime Economics & Logistics 18, 317-330.
Lun, Y. V., Lai, K. H., Wong, C. W., & Cheng, T. C. E. (2014). Green Shipping Practices and Firm Performance. Maritime Policy & Management 41(2), 134-148.
Panayides, P. M. (2003). Competitive Strategies and Organizational Performance in Ship Management. Maritime Policy & Management 30(2), 123-140.
Poulsen, R.T., Ponte, S. and Lister, J. (2016). Buyer-driven Greening? Cargo-owners and Environmental Upgrading in Maritime Shipping, Geoforum 68(January), 57-68
Poulsen, R.T., Viktorelius, M., Varvne, H., Rasmussen, H.B., and von Knorring, H., 2022. Energy Efficiency in Ship Operations: Exploring Voyage Decisions and Decision-Makers, Transportation Research Part D: Transport and Environment 102C (January): 103120.
Raza, Z. and Woxenius, J. (2023). Customer-driven Sustainable Business Practices and Their Relationships with Environmental and Business Performance—Insights from the European Shipping Industry, Business Strategy and the Environment 32(8), 6138-6153.
Sampson, H., Turgo, N., Acejo, I., Ellis, N., & Tang, L. (2019). ‘Between a Rock and a Hard Place’: The Implications of Lost Autonomy and Trust for Professionals at Sea. Work, Employment and Society 33(4), 648-665.
Searcy, C. (2012). Corporate Sustainability Performance Measurement Systems: A Review and Research Agenda. Journal of Business Ethics107, 239-253.
Stalmokaitė, I., and Hassler, B. (2020). Dynamic Capabilities and Strategic Reorientation Towards Decarbonisation in Baltic Sea Shipping. Environmental Innovation and Societal Transitions 37, 187-202.
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