MSc in International Trade and Shipping Management

Course Information Package

Course Unit TitleCOMMERCIAL MANAGEMENT OF SHIPS
Course Unit CodeITSM512
Course Unit DetailsMA/LLM Maritime Law and Shipping Management (Specialisation Electives) - MSc International Trade and Shipping Management (Electives) -
Number of ECTS credits allocated6
Learning Outcomes of the course unitBy the end of the course, the students should be able to:
  1. Critically reflect on the alternative forms of vessel employment and be able to make optimum selections and decisions with regards to the commercial exploitability of cargo and passenger vessels.
  2. Select, develop and pursue appropriate employment opportunities for individual vessels and company fleets.
  3. Formulate substantiated opinions regarding the risks and rewards from operation in niche markets.
  4. Develop strategic plans for the short, medium and long term future of ship management and related maritime organisations.
  5. Monitor, review and evaluate the commercial performance of dry bulk, tanker, container and passenger vessels.
  6. Monitor, review and evaluate trends and economic and technical fundamentals in specific sectors of the maritime industry and become able to identify new business opportunities.
  7. Respond to industry and market changes in a critically sound and intellectually structured manner.
  8. Propose policies based on in-depth understanding of specific commercial issues and general the market conditions.
Mode of DeliveryFace-to-face
PrerequisitesNONECo-requisitesNONE
Recommended optional program componentsNONE
Course Contents Chartering:
  • Role of brokers and intermediaries
  • Vessel description, Chartering and trading terminology.
  • Voyage, time, bare boat and tanker chartering.
  • Contracts of affreightment.
  • Disputes and arbitration.
 
Voyage estimates:
  • Calculating cargo capacity and voyage time.
  • Estimating time in port.
  • Bunker calculations.
  • Dry cargo and tanker voyage estimates and voyage results.
  • Other voyage costs.
 
Laytime Calculations:
  • Role of agents and statements of facts.
  • Time counting and stoppages.
  • Voyage completion.
  • Laytime statements: demurrage/dispatch.
 
Sale & Purchase:
  • Negotiation procedures and model contracts.
  • Role of surveyors and Classification societies.
  • Spares, BOB, LOB, supplies and provisions.
  • Taking delivery.
  • Auctions and Disputes.
 
General
  • Financial Planning.
  • Communications and IT in the maritime industry.
  • Issues of liner shipping.
  • Issues in passenger shipping.
  • Shipping markets and shipping cycles.
  • Dry bulk, container and tanker markets.
  • Short sea shipping.
  • Scrapping.
  • EU Transport Policy. Paris MOU. World Trade.

Recommended and/or required reading:
Textbooks
  • Baughen, Simon (2012). Shipping Law. 5th Edition, Routledge.
  • Branch, Alan Edward (2007.) Elements of shipping, Routledge
  • Brown, Robert, H. (1995). Introduction to Marine Insurance, 2nd Edition, Witherby & Co. Ltd
  • Coutroubis A.D. (2005). Chartering and Ship Broking, Lloyd’s Maritime Academy
  • Stopford, Martin. (2008). Maritime Economics 3rd Edition. Routledge
References
  • Alderton, P. (2005). Port Management Operations 2nd Edition. LLP Ltd
  • Anderton, P (1998). ISM Code-A practical guide to the legal and insurance implications, LLP Ltd
  • Brodie, P. (1997). Dictionary of Shipping Terms, LLP Ltd
  • D.L. Dykstra (2005). Commercial Management in Shipping. The Nautical Institute
  • Grammenos, C.T. (2002). The Handbook of Maritime Economics and Business. LLP Ltd
  • Gorton I, Ihre R., Sandevarn A., Hillenious, P. (2004) Shipbroking and Chartering Practice 6th Edition, LLP Ltd
  • Lord, R., Salzedo, S. (1996).Guide to the Arbitration Act 1996. Cavendish Publishing Limited
  • Thompson, C.B. (1994). Surveying Marine Damage. Witherby & Co
  • Packard, William, V. (1981). Sale and Purchase. Fairplay Publications Ltd
  • Stevens S, Butterfield C. (1981). Shipping Practice, 11th Edition Pitman Publishing Ltd
  • STCW 95 Convention and Code IMO, 1996/97
  • Maritime Labour Conventions and Recommendations. ILO, 1998
Planned learning activities and teaching methods

Lectures will provide a conceptual framework of all key areas. Students will work individually and in groups for their assignments

Assessment methods and criteria
Coursework50%
Final Exam50%
Language of instructionEnglish
Work placement(s)NO