Maritime Economics The Blackwell Companion to Maritime Economics presents a comprehensive and in-depth coverage of shipping and port economics. Featuring contributions from the most respected international specialists in the field, this reference offers up-to-date insights into maritime carriers and their markets (e.g., freight, intermodal and passenger), shipping economics (e.g., dry bulk, liquid bulk, container, regulation, taxation, seafaring, safety and piracy), ship economics (e.g., equity, bond and hedging ship finance) and port economics (e.g., governance, labor, competition, efficiency, choice, investment, clusters, inspection and security). In addition to providing a comprehensive survey of the literature on past and current practices on a wide range of maritime topics, new empirical research on safety and piracy in shipping, ship finance, and container terminal efficiency is presented as well as original theories for maritime carriers and ports that provide greater insights into their operations. With its unprecedented breadth of coverage and range of scholarship, The Blackwell Companion to Maritime Economics represents the new standard resource for any and all topics related to maritime economics.
List of Figures x List of Tables xv Notes on Contributors xix Preface xxviii PART I INTRODUCTION 1 1 General Introduction 3 Wayne K. Talley 2 The Evolution of Maritime Economics 16 Trevor D. Heaver 3 The Business of Shipping: An Historical Perspective 34 Ingo Heidbrink 4 International Seaborne Trade 52 Michael Tamvakis PART II MARITIME CARRIERS AND MARKETS 87 5 Maritime Carriers in Theory 89 Wayne K. Talley 6 Maritime Freight Markets 107 Siri Pettersen Strandenes 7 Intermodalism and New Trade Flows 121 Lixian Fan, Mohan M. Koehler and Wesley W. Wilson 8 Cruise Lines and Passengers 138 Simon Veronneau and Jacques Roy 9 Ferry Passenger Markets 161 Tor Wergeland PART III SHIPPING ECONOMICS 185 10 Dry Bulk Shipping 187 George A. Gratsos, Helen A. Thanopoulou and Albert W. Veenstra 11 Liquid Bulk Shipping 205 Dimitrios V. Lyridis and Panayotis Zacharioudakis 12 Container Shipping 230 Theo Notteboom 13 New Business Models and Strategies in Shipping 263 Peter Lorange and Oystein D. Fjeldstad 14 Shipping Regulatory Institutions and Regulations 281 Paul G. Wright 15 Shipping Taxation 304 Peter Marlow and Kyriaki Mitroussi 16 Seafarers and Seafaring 321 Heather Leggate McLaughlin 17 Safety in Shipping 333 Di Jin, Hauke Kite-Powell and Wayne K. Talley 18 Piracy in Shipping 346 Maximo Q. Mejia, Jr., Pierre Cariou and Francois-Charles Wolff PART IV SHIP ECONOMICS 371 19 The Economics of Ships 373 Harilaos N. Psaraftis, Dimitrios V. Lyridis and Christos A. Kontovas 20 Ship Finance: US Public Equity Markets 392 Costas Th. Grammenos and Nikos C. Papapostolou 21 Ship Finance: US High Yield Bond Market 417 Costas Th. Grammenos and Nikos C. Papapostolou 22 Ship Finance: Hedging Ship Price Risk using Freight Derivatives 433 Amir H. Alizadeh and Nikos K. Nomikos 23 Marine Insurance 452 Stanley Mutenga and Christopher Parsons PART V PORT ECONOMICS 471 24 Ports in Theory 473 Wayne K. Talley 25 Port Governance 491 Mary R. Brooks and Athanasios A. Pallis 26 Port Labor 517 Peter Turnbull 27 Port Competition and Competitiveness 549 Theo Notteboom and Wei Yim Yap 28 Container Terminal Effi ciency and Private Sector Participation 571 Baris Demirel, Kevin Cullinane and Hercules Haralambides 29 Determinants of Users Port Choice 599 Photis Panayides and Dong-Wook Song 30 Port Investment and Finance 623 Sander Dekker and Robert J. Verhaeghe 31 Ports as Clusters of Economic Activity 638 Peter W. de Langen and Elvira Haezendonck 32 Port State Control Inspection Deficiencies 656 Pierre Cariou, Francois-Charles Wolff and Maximo Q. Mejia, Jr 33 Port Security: The ISPS Code 674 Adolf K. Y. Ng and George K. Vaggelas 34 Port Security and the Quality of Port Interchange Service 701 Wayne K. Talley and Venus Y. H. Lun Index 717
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