Unit 2: International Transport I

Modern transportation and logistics managers are facing, in their daily activities, fast changing and complex situations with numerous stakeholders. Managers therefore need a broad and multidisciplinary knowledge base in order to tackle the problems and meet the challenge. The aim of this subject is to provide a foundation for the appreciation of the complex body of maritime law. The students should understand the basic principles of maritime law within the wider context of law and legal systems.

 

The basic characteristics of ship management are nowadays different to the situation two or three decades ago. Information technology has had a profound impact on ship management. Logistics concepts have long been introduced in the sector and have had great influence on the way ships are managed. Management functions can now be separated, outsourced and performed in different locations. Ship managers need a holistic view of ship operations, as well as considering the strategic development of the company. Globalization has pushed the decisions of ship managers to a new and wider dimension. Quality systems and standardization are the other two important aspects that today have become essential in the industry with long-term subsequent effects on ship management.

 

Transport and logistics managers have to take strategic decisions, some of which are related directly or indirectly to the aspects of finance and investment with certain level of financial risks. It is paramount that the managers are equipped with the necessary knowledge of basic financial concepts and of know-how regarding the application of financial and investment appraisal tools to enhance the quality of the decision making. The primary aim of this course is to provide students with the up-to-date knowledge of a wide range of financial concepts and analytical methods with a particular emphasis on the application of these to decision making in international transport and logistics. (IS THIS SUBJECT DESCRIPTION CORRECT?)

 

Presently, maritime transport is characterized by new features such as increasingly intense competition, rapid technological advancement and constant changes in service demands. This subject concentrates on the application of economic principles to the maritime transport sector. Economic explanations and analyses of the new characteristics of modern maritime transport are given. All major aspects of shipping, ports, and other related sectors are comprehensively reviewed from an economic perspective. Discussions will focus on the key issues of maritime transport, such as the impact of economic development and trade on maritime transport, influential factors on ship demand and supply, the role of ports and maritime transport auxiliaries, shipping cost analyses, freight evolution and prediction, economics of maritime safety and environmental protection. It is expected that by the end of the course, students should have an in-depth understanding of maritime economics and be able to use economic tools to analyse the shipping market and to enhance the quality of decision-making in maritime related sectors. Besides explaining economic theories, the delivery of the subject will consist of discussions concerning concrete examples from current maritime transport practices.