Maritime Economics

The Maritime Economics module aims to enhance students’ ability to apply micro economic theory in various shipping environments including dry bulk, tankers and liner markets. Focused primarily on the analysis of the factors affecting market equilibrium, the Maritime Economics module aims at providing the necessary insight for successful evaluation and forecast of the short term freight movement in the market.

  • Duration
    4 Weeks
  • Format
    Online
  • Language
    English
  • Start date
    Monthly
  • Accredited by
Maritime Economics

The Maritime Economics module aims to enhance students’ ability to apply micro economic theory in various shipping environments including dry bulk, tankers and liner markets. Focused primarily on the analysis of the factors affecting market equilibrium, the Maritime Economics module aims at providing the necessary insight for successful evaluation and forecast of the short term freight movement in the market.

  • Duration
    4 Weeks
  • Format
    Online
  • Language
    English
  • Start date
    Monthly
  • Accredited by
Overview

During this module, students will learn the factors affecting supply of ships and the distinction between effective and prospective supply. They will evaluate fleet productivity and the factors affecting it. Students will find out the factors affecting demand of ships in the three major markets of bulk, tanker and liner shipping with particular focus on market structure, economic development, trade routes, average haul, and natural and political events.

Moreover, they will appreciate supply and demand elasticity and define the connection with freight changes and also shipping operating costs and economies of scale. They will examine interrelation between freight rates, ship values and chartering options. Finally, they will learn shipping cycles theories and proposed investment decisions.

TUITION

€1.200

Meet the Instructor

Rear Admiral (Ret.) Konstantinos Panagopoulos HN, is a graduate with first class honors of, the School of Economics of the National & Kapodistrian University of Athens (NKUA), GRC, the Department of Ensign Cadets of the Hellenic Naval Academy, and the Logistics Executive Development Course of the US Army Logistics Management College (ALMC). He holds a MSc degree in Logistics with first class honors from the Florida Institute of Technology (FIT/USA), a MSc degree with first class honors in Defence and Strategy Studies from the Hellenic National Defense College, certificates of Lead Auditor for quality ISO 9000, HACCP, ISO 18000, and
other diplomas and certificates. He has extensive administrative, strategic, tactical and operational experience of practice for 36 years of Logistics science across the entire range and aspects of the supply chain in Greece and abroad (1987 to 2014).
He carries all the medals and decorations of his rank and has been awarded by the President of the Hellenic Republic the decorations and medals of the Grand Commander of the Order of Phoenix and the Commander of the Order of Honor of
the Hellenic Republic (2018)

Overview

During this module, students will learn the factors affecting supply of ships and the distinction between effective and prospective supply. They will evaluate fleet productivity and the factors affecting it. Students will find out the factors affecting demand of ships in the three major markets of bulk, tanker and liner shipping with particular focus on market structure, economic development, trade routes, average haul, and natural and political events.

Moreover, they will appreciate supply and demand elasticity and define the connection with freight changes and also shipping operating costs and economies of scale. They will examine interrelation between freight rates, ship values and chartering options. Finally, they will learn shipping cycles theories and proposed investment decisions.

TUITION

€1.200

Meet the Instructor

Rear Admiral (Ret.) Konstantinos Panagopoulos HN, is a graduate with first class honors of, the School of Economics of the National & Kapodistrian University of Athens (NKUA), GRC, the Department of Ensign Cadets of the Hellenic Naval Academy, and the Logistics Executive Development Course of the US Army Logistics Management College (ALMC). He holds a MSc degree in Logistics with first class honors from the Florida Institute of Technology (FIT/USA), a MSc degree with first class honors in Defence and Strategy Studies from the Hellenic National Defense College, certificates of Lead Auditor for quality ISO 9000, HACCP, ISO 18000, and
other diplomas and certificates. He has extensive administrative, strategic, tactical and operational experience of practice for 36 years of Logistics science across the entire range and aspects of the supply chain in Greece and abroad (1987 to 2014).
He carries all the medals and decorations of his rank and has been awarded by the President of the Hellenic Republic the decorations and medals of the Grand Commander of the Order of Phoenix and the Commander of the Order of Honor of
the Hellenic Republic (2018)

This Certificate Aims to:

√ Develop academic understanding and personal competences by equipping students with understanding of the economics of shipping market, its organization, and its function and its relationship to international trade

√ Analyse the distinctive characteristics of the liner shipping market and its organization

√ Analyse the distinctive characteristics of the tramp shipping market and its organization

√ Describe the associated problems and opportunities of businesses involved in these markets

√ Address how the prices and freight rates are determined taking into consideration the shipping cycles, the key influences of supply and demand, the theory of competition, normal profit, and cost structure

√ Enhance student’s ability to apply economic theory on the shipping sector in order to evaluate market equilibrium shifts

√ Provide the tools for the critical evaluation of the short term supply and demand and relevant freight levels

√ Provide the tools for the evaluation of market conditions in order to make rational decisions with regard to chartering and managing of ships

This Certificate Aims to:

√ Develop academic understanding and personal competences by equipping students with understanding of the economics of shipping market, its organization, and its function and its relationship to international trade

√ Analyse the distinctive characteristics of the liner shipping market and its organization

√ Analyse the distinctive characteristics of the tramp shipping market and its organization

√ Describe the associated problems and opportunities of businesses involved in these markets

√ Address how the prices and freight rates are determined taking into consideration the shipping cycles, the key influences of supply and demand, the theory of competition, normal profit, and cost structure

√ Enhance student’s ability to apply economic theory on the shipping sector in order to evaluate market equilibrium shifts

√ Provide the tools for the critical evaluation of the short term supply and demand and relevant freight levels

√ Provide the tools for the evaluation of market conditions in order to make rational decisions with regard to chartering and managing of ships

What you’ll learn

At the end of the module the learner will be able to:

Demonstrate a systematic understanding and knowledge of the four shipping markets (New building, Second Hand, Freight and Demolition) and their interrelation as well as their connection with the international trade

Develop and critically evaluate the distinctive characteristics, freight structure and organisation of the major shipping industries, i.e., tramp, liner, tanker, liquid gas and cruise industry

Exhibit a conceptual understanding of the demand and supply factors in the freight rate market, the new buildings market, the sale and purchase market, and the scrap market, and assess the equilibrium and the market shifting in each one of them

Make sound judgements in relation of the various stages of shipping market cycles and their characteristics along with the associated problems and opportunities of businesses involved

Conceptually understand the cost structure of shipping companies, the competition theory, and normal profit

Assess and critically evaluate the factors that affect supply and demand of seaborne transportation services and evaluate the interrelationship among the various market segments

Critically apply microeconomic theory on the analysis of shipping market segments

ASSESSMENT STRATEGY

Based on the Programme Specification, students are formally assessed through the submission of coursework. The forms of coursework depend on the characteristics of each module and may include the following types
of assessments: case study, essay, report, dissertation, market analysis,project output, valuation, etc.

In addition each module incorporates multiple self-assessment tests. Self-assessment tests are not part of the formal assessment but completion is strongly encouraged as students will be able to monitor and evaluate their learning process and identify areas requiring improvement.

FINAL AWARD

Certificate awarded by BCA accredited by IMAREST
As per university regulations

What you’ll learn

At the end of the module the learner will be able to:

Demonstrate a systematic understanding and knowledge of the four shipping markets (New building, Second Hand, Freight and Demolition) and their interrelation as well as their connection with the international trade

Develop and critically evaluate the distinctive characteristics, freight structure and organisation of the major shipping industries, i.e., tramp, liner, tanker, liquid gas and cruise industry

Exhibit a conceptual understanding of the demand and supply factors in the freight rate market, the new buildings market, the sale and purchase market, and the scrap market, and assess the equilibrium and the market shifting in each one of them

Make sound judgements in relation of the various stages of shipping market cycles and their characteristics along with the associated problems and opportunities of businesses involved

Conceptually understand the cost structure of shipping companies, the competition theory, and normal profit

Assess and critically evaluate the factors that affect supply and demand of seaborne transportation services and evaluate the interrelationship among the various market segments

Critically apply microeconomic theory on the analysis of shipping market segments

ASSESSMENT STRATEGY

Based on the Programme Specification, students are formally assessed through the submission of coursework. The forms of coursework depend on the characteristics of each module and may include the following types
of assessments: case study, essay, report, dissertation, market analysis,project output, valuation, etc.

In addition each module incorporates multiple self-assessment tests. Self-assessment tests are not part of the formal assessment but completion is strongly encouraged as students will be able to monitor and evaluate their learning process and identify areas requiring improvement.

FINAL AWARD

Certificate awarded by BCA accredited by IMAREST
As per university regulations

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