Marine Economics & Business


The present book on dry cargo chartering, prepared and released by one of the most authoritative entities in a world of maritime shipping, is going to ensure that the readers will significantly improve their knowledge and understanding of this particular area of shipbroking. The volume will explain clearly and in detail all commodities that are involved as well as the requirements applicable to the carriage. The ships serving these markets have also been discussed.

The content of the volume is covering the role of each participant of the shipping market paying equally close attention to the ship owners, brokers, charterers and operators. In addition to that, the author has provided good coverage of the freight markets together with the associated documentation, bills of lading, charter parties etc. Ten chapters of this brilliant book will provide readers with absolutely everything they need to know and will present the information in a very logical and easy-to-follow way.

The content opens with the brief information introducing readers to the dry cargo ships. Though it is not the intention of the author to give an exhaustive study of this subject, it still explains so many expressions commonly used in connection with the ships participating in the dry cargo sector. As it is the case with any other publication released by ICS, this one is highly recommended to any person with the interest in maritime shipping activities.

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This remarkably authoritative book written by one of the most recognized experts in the world of maritime economics may be treated as both a perfect introduction to the maritime shipping economics and a very valuable reference source to be used by the commercial practitioners. It is a very reader-friendly publication intended for those needing a thorough and clear overview of the commercial and economic issues that are commonly involved in the ownership, chartering and management of the ships.

The author has provided an excellent description of the major canals and marine ports together with the economies of scale in vessel sizes. There are many data diagrams and informative graphs supplementing the explanations of the demand and supply of the shipping industry. The content of the volume examines the broader maritime industry including tanker ships, dry cargo vessels, the liner trading and ship sale. The author also describes the main factors contributing to the cycles affecting the shipping industry of today.

The ship management and the information required by the ship brokers for effective operation of the vessels have been covered in the pages of this book making it even more valuable. The book details the commercial and contractual fundamentals considered specific to the shipping industry and covering the balance of payments and other important aspects.

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An introduction to the world's biggest industry. Before the construction of any vessel commences, the ship designers together with the nominated class societies shall design the proposed design with the future owner. The publication explores not only the vessels themselves with the shipping markets, but also the geography of the commercial maritime world, considering most important legal aspects of the shipping industry.

In addition, the authors pay due attention to the corporate structures and fundamental accounting matters, taking into consideration that all commerce is eventually dealing with money. The content of the volume opens with introductory chapters on maritime geography and shipping business including the basics of the theory of trade.

The following several chapters are devoted to the practitioners including ship managements and sale of ships, supply of ships including their registration and classification as well as PSC related issues, and liner trades including brief historical background, containerization and liner documentation. Two closing chapters of the book are dealing with the accounts and law of carriage covering absolutely all items that deserve attention.

Such approach has made this book a real must-have to all people interested in the shipping industry, both ashore and at sea, commercial and technical. There are as much as thirty-one appendices to the book providing lots of supplementary information.

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The present publication was released by ICS with the intention to clearly describe the way that the modern maritime shipping law affects the industry. The author of the volume has provided a good and easily understandable description of this industry aspect and how it works, explaining in detail the charter parties together with the various types of documentation related to the shipping, for example waybills and bills of lading.

He has also described the fundamental principles and basic components of contract law. The content of the volume contains thorough explanation of the shipping law concepts, case law, precedent and their contrast with the statute law. That is why this volume is considered essential reading for all people with the interest in legal principles and will also be useful to any persons willing to expand their understanding of this subject. It is very important to understand all legal rules as it helps in minimizing the potential risks, and the law philosophy commonly plays critically important role.

There is no law system that would be totally independent from the society in which it exists. The readers will get to understand this as they go through the material in this volume. Apart from the good introduction to the shipping law, the publication covers such important matters as the contract law and tort, charter parties, voyage charters, agency and bills of lading, dispute resolution and carriage related conventions etc.

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Nowadays, owning the ship shall not be considered as limited with purchasing a ship, getting the proper cargoes and their transportation from one place to another. Traditionally, the ship owners undertake the functions that are commonly implied when owning, maintaining and operating the vessel. The contents of the present publication was prepared by the recognized industry experts and released by the ICS, one of the most authoritative organizations in the international maritime shipping industry.

First, the readers will get the general information about the owners of the ships as well as the ship managers and operators. The basic info about the ship is contained in the second chapter covering the technical characteristics and design features of the different types of vessels. Then, the author proceeds to the ship registration and classification aspects including the rules and regulations that normally apply and shall be complied with.

The next chapter deals with the marine insurance, while the others address the costs and accounting issues, ship operations, crewing and bunkering matters, cargoes, geographical factors to consider, and voyage planning. The closing chapter is devoted to the legal relationship of the ship owner.

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This is one of the most useful publications on tanker chartering of those available today. The volume was developed and released by one of the most recognized organization of today’s maritime world. The readers will start with some brief information about the historical background and development of the tanker shipping; here, the structure and arrangements on the tankers will also be addressed.

After that, the chapter devoted to the tanker chartering geography will go, followed by the one dealing with the structure of the market from new construction of the tankers and up to their scraping. The voyage estimating has been covered in the next chapter with the attention paid to the route, bunkers, port time, expenses and other aspects. The remaining chapters of this publication are dealing with the chartering market practice, lay time and time-charters, financial elements and charter parties, etc.

The closing part of the book provides information about the major organizations in the industry, such as the AAA, BIMCO, ACOPS, FONASBA, ICS, ECASBA, ICS, ITF, INTERTANKO, OSRL and many others. Several appendices provide supplementary information such as the firm offer form, voyage tanker checklist, examples of bill of lading, letters of indemnity etc.

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The contemporary maritime shipping industry is rich of stories of fortunes that have been made and lost, and in some cases this can take place several times – this does fascinate and make the whole subject of maritime economics important and interesting. Of course, sound knowledge of the essentials of the economics of shipping industry is of great importance for any person intending to make a successful career in this field.

This is a very capital intensive making the financial decisions be truly crucial as the proper choice of finance would eventually affect the result of any investment made through impacting the risk-and-reward balance between those who own the finance and those providing finance. The present volume is covering the basic sources of the finance and the authors pay due attention to the differences existing between the possible options.

Every shipowner, meaning the company, is free to choose the appropriate finance level sought together with the security level and other aspects; and these choices made by the owners do affect the returns. The vessels are deservedly considered very useful assets but they could also threaten even the existence of the owner, it all depends on the actions and choices, and this is why it is so important to go through this book very carefully…

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The shipping business of today is a truly dynamic and very exciting sort of activity that normally involves so many different sectors, technical skills and tasks. The essential functions underpinning all above mentioned activities are usual to all companies engaged in the modern business of shipping.

That is why it is so important that all people who are involved in the industry in one way or another possess a good understanding of the functions affecting their business. We know that the shipping is mainly concerned with the operations of the vessels and meeting the needs for the marine transportation of goods and people.

The present publication opens with the chapter addressing the business entities as well as the communications and is followed with the chapters on business ethics and anti-bribery compliance. Then there are three chapters on the vessels, trade geography and ship chartering.

The remaining chapters of the volume are dealing with the ship sale and purchase, ship management, port and liner agency, finance, trade and insurance as applied to shipping industry, major shipping organizations etc. Several appendixes provide additional and useful information.

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