The module aims to develop academic understanding and personal competences by equipping students with understanding of the economics of shipping market, its organization, its function, and its relationship to international trade; Moreover, it analyses the distinctive characteristics of the liner shipping market and its organization, and the distinctive characteristics of the tramp shipping market and its organization. Additionally, it describes the associated problems and opportunities of businesses involved in these markets, and it addresses 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.
