Introduction to shipping economics
We will first pack your backpack with the key elements of world seaborne trade and shipping economics.
→ Merchant trade
→ Seaborn trade/transport
→ World fleet development (number, ownership, age, …)
Shipping market economics
We will then sketch the economic framework of the shipping industry, based on Stopford (2009). We will first discuss each of the four shipping markets and their trends, and then dive into the role of shipping market cycles.
→ Freight market
→ Secondhand market
→ New-build market
→ Demolition market
→ Shipping market cycles
→ Indicators to monitor
Shipping regulation and law
Given the strong international character of shipping, shipping regulation and law will be briefly discussed. Industry speakers will reflect upon topics such as:
→ Public law
→ Environmental regulation and others
→ Marine insurance
There is no such thing as ‘the’ maritime shipping industry. Each (sub-)market will be discussed in-depth from both an academic and industry point of view.
→ Liquid bulk
→ Dry bulk
→ Container liner shipping
→ Breakbulk shipping
→ Offshore shipping
→ Other maritime shipping segments (e.g. cruise, roro)
Shipping company economics: cash flow
After discussing the dynamics of the shipping cycles and exploring the practicalities of each (sub-)market, we will now focus on cashflow. As cashflow determines shipowners behavior, we will study each cost element in depth.
→ The cashflow model of a shipping company
→ Ship revenues
→ Cost of operating a fleet (operating, voyage and handling costs)
→ Capital cost
→ Relation capital cost – cashflow
Shipping company economics: pricing
After explaining the supply, demand and freight rate mechanism in the maritime sector, we will zoom in on the key elements that influence supply and demand.
→ Market dynamics
→ Market trends
Shipping company investment and finance
This topic is addressed by industry speakers from various shipping markets. In this interactive lecture, we will discuss both industry dynamics and strategies regarding operations, sustainability (alternative fuel, ESGs), etc.
→ The shipping company investment model
→ Purchasing/leasing new or second-hand vessels
→ Different types of (green) financial funding
→ The performance of shipping investments
Market economics: forecasting
We will briefly look into key elements in forecasting, methodologies and scenario analysis, combining theory with real-life cases.
→ Type of forecasting methods
→ Market report
→ Forecasting approach
→ Scenario analysis
New technologies and/or materials are expected to improve shipping efficiency, operations and time management, thus reshaping the maritime shipping industry. Industry speakers share their own insights about the set-up of alternative fuels, the introduction of sensors and the data management behind it.
→ (Semi-)autonomous/smart shipping
→ Technology platform
→ Cyber security
→ Data (architecture/quality/standardization)
→ Alternative fuels (site visit hydrogen station)