Course Unit Title | COMMERCIAL MANAGEMENT OF SHIPS |
Course Unit Code | ITSM512 |
Course Unit Details | MSc International Trade and Shipping Management (Elective and Concentration) - MA/LLM Maritime Law and Shipping Management (Elective and Concentration) - |
Number of ECTS credits allocated | 6 |
| Learning Outcomes of the course unit | By the end of the course, the students should be able to:- 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.
- Select, develop and pursue appropriate employment opportunities for individual vessels and company fleets.
- Formulate substantiated opinions regarding the risks and rewards from operation in niche markets.
- Develop strategic plans for the short, medium and long term future of ship management and related maritime organisations.
- Monitor, review and evaluate the commercial performance of dry bulk, tanker, container and passenger vessels.
- 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.
- Respond to industry and market changes in a critically sound and intellectually structured manner.
- Propose policies based on in-depth understanding of specific commercial issues and general the market conditions.
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Mode of Delivery | Face-to-face |
Prerequisites | NONE | Co-requisites | NONE |
Recommended optional program components | NONE |
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.
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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
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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
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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 | Written Assignment | 40% | Final Exam | 60% |
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Language of instruction | English |
Work placement(s) | NO |