Maritime Economics 3e |  | Author: Martin Stopford
Publisher: Routledge
Category: Book
List Price: $85.00
Buy New: $61.63
as of 8/1/2010 00:16 CDT details
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Rating:  2 reviews
Sales Rank: 191687
Media: Paperback
Edition: 3
Pages: 840
Number Of Items: 1
Shipping Weight (lbs): 3.6
Dimensions (in): 9.5 x 6.9 x 1.6
ISBN: 041527558X
Dewey Decimal Number: 387.5
EAN: 9780415275583
ASIN: 041527558X
Publication Date: February 17, 2009
Availability: Usually ships in 1-2 business days
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Product Description
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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| Customer Reviews:
One of THE best if not THE best book on Maritime Economics from a Macro perspective October 12, 2009
Yoda (Hadera, Israel)
4 out of 4 found this review helpful
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. Although the book is out of print and was published in 2001, it give 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).
The Definitive, One-Volume Study of Maritime Economics February 23, 2010
Odysseus (Whitehorse, Yukon Territory)
1 out of 1 found this review helpful
Quite simply, I cannot speak highly enough of this wonderful tome! It far surpasses any other current study in the field of Maritime Economics (i.e. the shipping industry). Specific chapters cover virtually every conceivable aspect of the field, from history and technology to finance and business cycles. Well written, magnificently thorough, and very engaging, Stopford's classic study (now in its third edition) is a standard-unto-itself -- a decidedly rare achievement for a book in ANY field. Expensive, yes, but absolutely worth the price! A+++++++++++++++++++++++++++
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