For 5000 years shipping has served the world economy and today it
provides a sophisticated transport service to every part of the
globe. Yet despite its economic complexity, shipping retains much
of the competitive cut and thrust of the "perfect" market of
classical economics. This blend of sophisticated logistics and
larger than life entrepreneurs makes it a unique case study of
classical economics in a modern setting.
The enlarged and
substantially rewritten Maritime Economics uses historical and
theoretical analysis as the framework for a practical explanation
of how shipping works today. Whilst retaining the structure of the
second edition, its scope is widened to include: lessons from 5000
years of commercial shipping history shipping cycles back to 1741,
with a year by year commentary updated chapters on markets;
shipping costs; accounts; ship finance and a new chapter on the
return on capital new chapters on the geography of sea trade; trade
theory and specialised cargoes updated chapters on the merchant
fleet shipbuilding, recycling and the regulatory regime a much
revised chapter on the challenges and pitfalls of forecasting. With
over 800 pages, 200 illustrations, maps, technical drawings and
tables Maritime Economics is the shipping industry's most
comprehensive text and reference source, whilst remaining as one
reviewer put it "a very readable book".
Martin Stopford has enjoyed
a distinguished career in the shipping industry as Director of
Business Development with British Shipbuilders, Global Shipping
Economist with the Chase Manhattan Bank N.A., Chief Executive of
Lloyds Maritime Information Services; Managing Director of Clarkson
Research Services and an executive Director of Clarksons PLC. He
lectures regularly at Cambridge Academy of Transport and is a
Visiting Professor at Cass Business School, Dalian Maritime
University and Copenhagen Business School.
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