Maritime Economics

Front Cover
Routledge, 2009 - Business & Economics - 815 pages

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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It is unfortunate that a purportedly "scholarly" work should be tainted by the use of the name "Arabian Gulf" instead of "Persian Gulf". This obvious politically motivated distortion becomes comical on page 7 when the author discusses the origins of sea trade form 3000 BC. There are no historical maps at hand dating before the middle of 20th century which refers to "Arabian Gulf". More importantly UN recognizes the region as the "Persian Gulf". One wonders about the credibility of this book when the author is so plainly influenced by political expediency than historical facts. What other distortions lurk in the text? 

User Review - Flag as inappropriate

it agreat work done by a man i refer to as a dynmanic in d world of maritime. By Buhari Momoh.

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About the author (2009)

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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