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Description of Individual Course Units

Course Unit Code Course Unit Title Type Of Course D U L ECTS MBA 4014 LINER SHIPPING ECONOMICS ELECTIVE 3 0 0 5

Offered By

Maritime Business Administration

Level of Course Unit

First Cycle Programmes (Bachelor's Degree)

Course Coordinator

PROFESSOR DOCTOR SADIK ÖZLEN BAŞER

Offered to

Maritime Business Administration (Evening) Maritime Business Administration

Course Objective

Practically all international liner shipping is organized as route-specific price cartels known as liner conferences. Here we aim to understand the economical back ground of this monopoly.

Learning Outcomes of the Course Unit

1   To understand the development of freight rate in liner shipping business 2   To develop some ideas of improving the state of art of freight ratemaking by combining derived-demand theory with the relevant facts of liner shipping markets 3   To comprehend the characteristics of demand and supply of liner shipping 4   To gain the ability to correlate the ship size and shipping costs in liner shipping 5   To understand the conference system and structure of freight rates

Mode of Delivery

Face -to- Face

Prerequisites and Co-requisites

None

Recomended Optional Programme Components

None

Course Contents

Week Subject Description 1 Characteristics of demand and supply of liner shipping 2 Market organization: the conference system 3 The level and structure of freight rates 4 The art of charging what the traffic can bear 5 Ship size and shipping costs in liner shipping 6 Multi-port calling versus trans-shipment 7 Midterm exam I 8 Shippers costs of sailings infrequency and transit time 9 Port costs and charges and the problem of shipping and port sub-optimizations 10 A cost minimization model of liner trade 11 Decision process for layaout of the ship 12 Economic evaluation of the conference system 13 The freight rate structure is out of line with the marginal cost structure 14 Potential cartel profits become social costs

Recomended or Required Reading

Liner Shipping Economics, J. O. Jansson and D. Shneerson, London, Chapman and Hall Ltd. The Economics of Ocean Freight Rates, E. Bennathan and A. A. Walters, New York, Praeger.

Planned Learning Activities and Teaching Methods

Cooperative and active teaching and learning strategies

Assessment Methods

SORTING NUMBER SHORT CODE LONG CODE FORMULA 1 MTE MIDTERM EXAM 2 ASG ASSIGNMENT 3 FINS FINAL EXAM 4 FCG FINAL COURSE GRADE MTE * 0.30 + ASG * 0.10 + FINS * 0.60 5 RST RESIT 6 FCGR FINAL COURSE GRADE (RESIT) MTE * 0.30 + ASG * 0.10 + RST * 0.60 *** Resit Exam is Not Administered in Institutions Where Resit is not Applicable.

Further Notes About Assessment Methods

None

Assessment Criteria

To be announced.

Language of Instruction

English

Course Policies and Rules

To be announced.

Contact Details for the Lecturer(s)

To be announced.

Office Hours

To be announced.

Work Placement(s)

None

Workload Calculation

Activities Number Time (hours) Total Work Load (hours) Lectures 12 3 36 Preparations before/after weekly lectures 12 4 48 Preparation for midterm exam 2 10 20 Preparation for final exam 1 15 15 Midterm 2 2 4 Final 1 2 2 TOTAL WORKLOAD (hours) 125

Contribution of Learning Outcomes to Programme Outcomes

PO/LO PO.1 PO.2 PO.3 PO.4 PO.5 PO.6 PO.7 PO.8 PO.9 PO.10 PO.11 PO.12 PO.13 LO.1 3 3 3 5 3 3 3 3 3 LO.2 3 5 3 5 3 3 3 3 3 LO.3 3 3 3 3 5 3 5 3 LO.4 3 3 3 3 5 3 3 LO.5 3 3 3 5 3 3 3 3 5 5