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Maritime Economics: Management and Marketing, by Alan Branch
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Now in its second edition Maritime Economics provides a valuable introduction to the organisation and workings of the global shipping industry. The author outlines the economic theory as well as many of the operational practicalities involved.
Extensively revised for the new edition, the book has many clear illustrations and tables. Topics covered include:
* an overview of international trade
* Maritime Law
* economic organisation and principles
* financing ships and shipping companies
* market research and forecasting.
- Sales Rank: #5137935 in Books
- Brand: Brand: Routledge
- Published on: 1998-08-05
- Released on: 1998-08-03
- Original language: English
- Number of items: 1
- Dimensions: 8.50" h x 1.11" w x 5.50" l, 1.24 pounds
- Binding: Paperback
- 592 pages
- Used Book in Good Condition
Most helpful customer reviews
0 of 0 people found the following review helpful.
Excellent introduction to the topic
By Yoda
This book provides an excellent introduction to the "macro" issues surrounding the shipping trade. Perspective is provided on the growth of volume of trade over time, geographic areas the ship construction business and financing in this field (among many other areas). The book does not, however, prvoide (nor is it intended) a "micro" analysis as to how business is conducted on a day-to-day basis (i.e., bunkering, role of different crew members, role of agents, etc.). For an excellent introduction to this one should instead refer to "The Business of Shipping"
Books weaknesses are:
a) Dated information. This most important weakness by far. Nearly all data/information, most of which the author collected and/or tabulated himself (and in many cases developed himself) is from the early 1990s and the late 1980s. Immense changes resulting from seaborne trading patterns due to China's and emergin nation's economic integration into the global economy are hence not discussed in the book. This is desprite the fact taht these chages are probably the most radical to maritime trade since the end of WWII.
This problem will hopefully be remedied in the new edition of the book which is to be released January 2009.
b) Little discussion regarding the market for crews. This is despite the fact that the author himself expllicitely states this is a critical bottleneck for the industry. A chapter (or at least a few pages instead of a sentence or two) adressing this aspect of the business is needed.
Update:
A new Third Edition of this book has recently been published that updates most of the information contained in the 2nd ed. Althouth about $20 more expensive, this updated information, along with other improvements (i.e., expanded chapters, very detailed cost-breakdown information on a variety of different types of vessels, etc.- for more details see my review of the third edition) make this extra $20 a worth while investment.
23 of 23 people found the following review helpful.
One of THE best if not THE best book on Maritime Economics from a Macro perspective
By Yoda
This book provides an excellent macro economic view of the shipping tranportation business. The reason is the author's authoritative knowledge of the field. He has has over 30 years of experience in the field in both the private sector (as an Economist specializing in the field with Chase Manhattan Bank, Chief Executive of Lloyd's Maritme Information Services, Directof of Business Development with British Shipbuilders and an Executive Director of Clarkson's PLC) and academia (as a Professor at Cass Business School, the Cambridge Academy of Transport, Dalian Maritime University and Copenhage Business School).
The book starts out with a historical overview of the shipping industry (lengthier than the 2nd edition of this book) then presents chapters on the organization of the shipping market, shipping market cycles, shipping markets by different categories of vessel (and the cargoes they handle), financial flows, industry financing and insurance, risk, geographic markets, the markets for ships (both new and second hand) as well as for vessels for scrapping, and legal and regulatory structures. All of these are covered very well and provide an excellent overview through 2007 (i.e., just before the shipping bust of 2008). It should be stressed that the book is intended to provide a macro view of the industry as opposed to a micro view (i.e., discussing how vessels are run on a day to day basis). For a good overview of how ships are run on a day to day basis Kendall's "The Business of Shipping" is highly recommended. That book gives an excellent overview of bunkering, how cargoes are handled, manifests, etc. Hence it is an excellent supplement to Stopford's Maritime Economics. Last but not least, Maritime Economics presents many facts that are very difficult to research and find data on as data sources in the shipping industry, unlike most industries, is not that readily available. This is due to the fact that the industry is characterized by privately held companies. Examples of such research includes tables showing breakdowns of vessel costs by labor, fuel, capital costs, etc., depreciation tables, etc. Much of this data is for particular classes of vessel (i.e., panamax cargo vessels, cape tankers, etc.). This information is very difficult to find elsewhere without an large expenditure of money for purchase.
The 2nd Ed. of Maritime Economics (as of October 2009) is still in print and is being sold at about $20 less than this edition. Despite the price differential the 3rd edition is still worth the money. This is so for a number of reasons. One (and the most important) is the fact that it contains data through 2007 (as opposed to the last that only goes through the mid-1990s). In addition, the chapters are expanded over the previous editions and many of the factual tables referred to above (i.e., on cost breakdowns and depreciation schedules) are not available in the previous edition. The extra $20 is well worth any of these. The only weakness of the book is that it is particularly weak with respect to the labour market in this industry.
All and all this book is an excellent introduction to the industry as well as a veritable treasure chest of information, even for those with considerable knowledge in the industry. As a result it is highly recommended for both the student and those with some knowledge of the industry (though, obviously, the former would find it much more beneficial).
0 of 0 people found the following review helpful.
Only for higher education technical use. Not for entry level folks
By J. R. Blaze
Excellent technical reference for me as a transport economist. I have 40 years industry experience. To me, valuable addition to my library
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