Maritime Economics


The Maritime Economics module aims to enhance students’ ability to apply micro economic theory in various shipping environments including dry bulk, tankers and liner markets. Focused primarily on the analysis of the factors affecting market equilibrium, the Maritime Economics module aims at providing the necessary insight for successful evaluation and forecast of the short term freight movement in the market.

Key Objectives

Enhance student’s ability to apply economic theory and evaluate market equilibrium shifts in the shipping sector

Provide students with the tools necessary for the critical evaluation of short term supply and demand and relevant freight levels

Enable students to evaluate market conditions and make rational decisions for chartering and managing ships


  • 12 hours of video
  • 218 pages of notes
  • 319 presentation slides
  • 7 Self - Assessment quizes
  • 1 Summative assignment
  • No prerequisites
  • 10 Credits
  • Core module


1Introduction and basic notions
2Demand and supply of ships
3Costs and revenues
4Economic market models
5Bulk markets
6Liner market
7Supportive shipping markets
8Shipping cycles


Dr. Goulielmos

PhD from the Department of Economic History of Brunel University

Professor Goulielmos is a Ph.D holder from the Department of Economic History of Brunel University, 1974; Graduate and Full Member of the UK Institute of Marketing, London, 1972; Holder of Post-graduate diploma from University of North London in Economic Development, 1971; and Graduate of the Economic Department of Athens Economic University-ex Athens Graduate School of Economics and Business,1965.

Professor Goulielmos was Full Professor of Marine Economics at the University of Piraeus Department of Maritime Studies, 1992-2008. He served as Deputy Head of the Department, 1995-1997 and Head of the Postgraduate programme in Maritime Studies, 2001-2003. He had also served as General Secretary of the Greek Ministry of Shipping from 1993 up to 1995. Further to his teaching experience for more than 18 years, he has also worked in the shipping industry for another 16 years.

Related Modules

Shipping Business Management

The module aims at students developing a sound understanding of the fundamental principles of shipping management, required for the effective operation of a shipping company.

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Research Methods

This module is designed to support students’ ability to implement research and prepare a significant piece of independent scientific research in the shipping sector.

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The module is designed to provide, enhance and develop knowledge of the chartering procedures (dry cargo and tanker), taking into consideration all parties involved in the process.

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Online Master in Shipping

Awards recognised by
UK Naric

Education Awards 2016

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