Economics of Sea Transport and International Trade

Course Overview

This course is designed for ship owners, senior managers, managers and officers who work in the shipping industry as well as oil and gas professionals who want to equip themselves with the knowledge of the economic and commercial issues involved in the ownership, chartering and effective management of oceangoing ships. The course involves the knowledge acquisition of international trade as it affects shipping dynamics and economics

Learning Outcome

  • Overview of sea transport, international trade and shipping economics
  • Understand global trading; the arguments for free trade versus protectionism in its many forms; the role of the World Trade Organization and G8.
  • Understand what is meant by shipping economics
  • Global trends and impact on seaborne trade and shipping
  • Shipping business-sale, purchase and the factors affecting the shipping industry
  • Supply and demand for shipping
  • Understand the relationship between exchange rates and the factors affecting their fluctuations and a country’s balance of payments
  • Understand pricing behaviour including price discrimination and profitability and the empirical evidence of lower profits than other shipping markets
  • Economic theories of international trade
  • Understand the use of voyage estimating, breakeven analysis in determining minimum freight rates and the lay-up decision.
  • Port operations and freight rates
  • Challenges for shipping players and ports


Indicative Contents

  • Overview of shipping business and global economic outlook
  • Factors affecting supply and demand for shipping
  • Understand the patterns of world trade; be aware of world trade statistics.
  • Understand types of trade flows; inter-industry and intra-industry; absolute and comparative advantage.
  • Logistics and multi-modal transport
  • Understand the effect of exchange rate fluctuations on shipping.
  • Tanker market operations under perfectly competitive conditions
  • Ports as catalysts of trade and economy
  • Management of ports, terminals and vessel operations
  • Understand the relationship between profit maximization and optimal utilization
  • Globalization, liberalization and the advent of shipping technology
  • Intensive use of IT in cargo handling, processing and tracking
  • Sophisticated supply chain management
  • Shipping law and marine insurance
  • Cost structure of a shipping company and management control
  • Using graph to determine foreign currency rates between countries
  • The effect of international regulation.
More Detail
Duration This is a one-week training programme spread over 5 days working days
Certification A certificate of completion is granted on successful completion of the programme.
Travel and accommodation Travel and accommodation to be paid for at source by delegates
Fees £3,750.00
Zenith Professional Training