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.
- 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.
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.