This book provides a comprehensive introduction to the economics of the business of maritime transport. It provides an economic explanation of four aspects of maritime transport, namely, the demand, the supply, the market and the strategy.
The book first explains why seaborne trade happens and what its development trends are; it then analyses the main features of shipping supply and how various shipping markets function; the book finally addresses the critical strategic issues of the shipping business. The full range of different types of shipping are covered throughout the chapters and cases. The book combines the basic principles of maritime transport with the modern shipping business and the latest technological developments, particularly in the area of digital disruption. The ideas and explanations are supported and evidenced by practical examples and more than 160 tables and figures. The questions posed by the book are similar to those that would be asked by the students in their learning process or the professionals in the business environment, with the answers concentrating on the reasons for what has happened and will happen in the future rather than merely fact-telling or any specific forecast.
The book is most suited for students of shipping-related disciplines, and is also a valuable reference for maritime professionals.
Table of Contents
Part I: The Demand 1. International Trade Explained 2 Seaborne Trade in Natural Resources and Primary Materials 3. Seaborne Trade in Manufactured Products 4. The Future of Seaborne Trade and Its Economic Importance Part II: The Supply 5. Productivity and Structure Changes in Maritime Transport 6. Optimisation of Ship’s Carrying Capacity 7. The Main Forms of Shipping Operation 8. Ship Finance and the Economics of Risk Part III: The Market 9. Maritime Operational, Regulatory and Technological Systems 10. The Economics of Port Services 11. The Economics of Supporting Services for Maritime Transport 12. The Economics of Maritime Transport Freight Market Part IV: The Strategy 13. The Economics of Maritime Transport Competition 14. Shipping and Logistics 15. The Economic of Maritime Safety and Environmental Regulations 16. Digital Disruption and the Future of Maritime Transport
Shuo Ma is Professor of Maritime Economics and Policy at the World Maritime University, Sweden. Since 2001, he has been Vice-President of the university. He is responsible for the university's outreach programmes, which include Asia-based MSc. programmes, post-graduate diploma courses by distance learning and executive professional development courses.
"This is an excellent, true-blue textbook of Maritime Economics that no professor, lecturer and student in maritime studies can afford to miss…" — Dr Thai Van Vinh, Nanyang Technological University, Singapore