Maritime Economics

Maritime Economics

Maritime Economics

Maritime Economics

Synopsis

Stopford provides a valuable introduction to the organisation and workings of the global shipping industry, outlining the economic theory behind this large and complex subject, and dealing with many of the operational practicalities involved.

Excerpt

This book is an introduction to shipping market economics. It aims to explain how the shipping market is organized and to answer some basic questions about how it works: How are prices and freight rates determined? Are there market cycles? What determines a shipping company's ability to survive depressions? How are ships financed? What factors influence ship design? Is it possible to make reliable forecasts?

Although mainly a textbook, I hope it will also be useful to practical people in the shipping business. The first edition started life as a series of lectures I gave at Cambridge Academy of Transport and the City University Business School while working for British Shipbuilders. Work on the second edition, a major revision of the first, started when I was at Chase Manhattan Bank and was finished at H. Clarkson & Co. the shipbroking company. These two new perspectives led to extra chapters on ship finance, the operation of shipping markets and sea trade. As a result Maritime Economics now has fourteen chapters, as summarized on the following pages.

In producing the two editions I received help from many people. For the first edition I would like to repeat my thanks to Ian Buxton of Newcastle University, Professor Costas Grammenos of City University Business School and Peter Douglas of Chase Manhattan Bank, Professor Harry Benford of Michigan University and Professor Rigas Doganis, John Evans, Brian Yolland, the Rt Hon. Gerald Cooper, Dr John Doviak of Cambridge Academy of Transport, Professor Henk Molenaar, Mona Kristiansen of Leif Hoegh & Company, Phillip Wood of Transport and Trading, Jim Battersby, J. Graham . . .

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