Economics of Shipping Practice and Management
Maritime transport , fluvial transport , or more generally waterborne transport is the transport of people passengers or goods cargo via waterways. Freight transport by sea has been widely used throughout recorded history. The advent of aviation has diminished the importance of sea travel for passengers, though it is still popular for short trips and pleasure cruises. Transport by water is cheaper than transport by air ,  despite fluctuating exchange rates and a fee placed on top of freighting charges for carrier companies known as the currency adjustment factor CAF. Maritime transport can be realized over any distance by boat, ship, sailboat or barge , over oceans and lakes, through canals or along rivers. Shipping may be for commerce , recreation , or for military purposes. While extensive inland shipping is less critical today, the major waterways of the world including many canals are still very important and are integral parts of worldwide economies.
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This session focused on identifying new trends in trade and outlining their possible implications for maritime transport. Past decades have seen waves of outsourcing of manufacturing activity on a global scale that has led to unprecedented growth in maritime transport. Expansion in Asia continues to determine global trade patterns, with intra-Asia containerised cargo flows now being more substantial than Asia-Europe and Asia-US flows together. China is no longer just an export market, but has now also developed into a consumption market. Near-sourcing could to some extent change trade flows.
Institute of Chartered Shipbrokers. This authoritative book is both a great introduction to the economics of the shipping industry and a valuable reference book for commercial practitioners. Economics of Sea Transport and International Trade is an easy-to-read reference for those who need an overview of the economic and commercial issues involved in the chartering, ownership and management of oceangoing ships. It describes canals and ports and economies of scale in ship sizes. Diagrams and easy-to-follow graphs supplement clear explanations of the supply and demand for shipping. The book examines the wider shipping industry - including tankers, dry cargo, the liner trade and the sale and purchase of ships - and describes the factors within world trade which contribute to the up and down cycles that affect the shipping industry. The management of vessel operations as well as the information that shipbrokers need in order to operate within the industry are covered.