Aims

To provide an insight into the markets, economics and operational systems which are fundamental to the provision of waterborne transport.

Outline Of Syllabus

The module will cover the following topics:

1.       Introduction to marine transportation
2.       Introduction to basic economic theory
3.       Shipping supply and demand
4.       Shipping supply and demand
5.       Time value of money (regular cashflow patterns)
6.       Time value of money (irregular cashflow patterns)
7.       Time value of money (measures of merit - NPV, RFR, AAC, PBR, etc)
8.       Depreciation and tax
9.       Cost breakdown and voyage analysis
10.       Introduction to shipping market
11.       Shipping markets and commodities
12.       The tanker market (freight rates and contracts, WORLDSCALE index)
13.       The tanker market (equivalency and behaviour of freight rates)
14.       The tanker market (characteristics and structure of the market)
15.       The tanker market (FOB and CIF prices, optimisation)
16.       The tanker market (oil transportation network, minimisation of transportation cost)
17.       Dry bulk markets
18.       Liner market and container transportation

This module will include preschool reading, examples, a preschool assignment, an intensive school (five days), and a post school assignment.

Teaching Rationale And Relationship

Students are encouraged to develop thier knowledge and understanding of the subject by independent reading for which they are given guidance in the distance learning material (IKO1). The preschool study is reinforced via lectures during the intensive school itself. The use of design during the intensive school and work-based assessments and application after the intensive school also enable the students to learn. Subject specific skills (e.g. IT and project planning) are developed via the distance learning material, which is delivered by a web-based system (blackboard). Cognitive skills (problem solving/decision making) are taught primarily through case studies and design classes, and developed through work based assignments. Key transferable skills (communication, time management, ability to work alone etc) are developed through work based pre- and post school assignments and via completion of the module itself, including the distance learning material (ISO1 - 9).

Assessment Rationale And Relationship

Knowledge and understanding are assessed via the unseen written examination and the written assignments. Subject-specific and cognitive skills are assed via design exercises and the module assignments, as are communication skills. The Graduate Skills Framework Skills indicated as 'A' are also assessed in this way.