Shipping

Book English OPEN
Wijnolst, N.; Wergeland, T.;
(1996)
  • Publisher: Delft University Press
  • Subject: economics | operations | shipping | freihgt markets

Shipping is a multi-faceted industry which is rather complex to define from an academic point of view. This book attempts to grasp these complexities and provide the reader with an overview of the main topics and terminology in shipping. The book is based on material fr... View more
  • References (47)
    47 references, page 1 of 5

    1. Analysis of the Containership Charter Market 1983-1992

    9. Analysis of the Panamax Bulk Carrier Charter Market 1989-1994: In Relation to the Design Characteristics

    10. Analysis of the Competitive Position of Short Sea Shipping: Development of Policy Measures

    CHAPTER 2: SHIPPING SEGMENTS AND SHIP TYPES .... .. ....... . 67 2.1 Tankers ... . .............................. ... ... . 67 2.1.1 Crude oil tankers ...................... .. . .. .. . . 67 2.1 .2 Products tankers ............. : .... . .. . .. ... . .. . 68 2.1.3 Chemical tankers ............................. . 69 2.1.4 Gas tankers . .... .... ......... . .............. . 70 2.1.5 Bitumen tankers .. .. .. ........ . ... . .. ......... . 71 2.2 Dry bulk carriers ...... . ...................... .. ... . 71 2.3 Container ships .. .. .... ..... .. . ..... .. ....... ..... . 73 2.3.1 Container ships . .. . .. ... ... '. ' ................. . 74 2.3.2 Open-hatch container ships ................... . ... . 75 2.3 .3 Barge carriers .................... . . . ...... ... . 75 2.4 Heavy lift vessels ................... .. ......... . .. . 76 2.5 General cargo ships ................................ . 78 2.6 Ro-ro vessels .................................... . 80 2.7 Cruise vessels ...... . ......... . . .. . . . ............ . 81

    V CHAPTER 5: SHIPPING COSTS . . . . . . . . . . . . . . . . . . . . . . . . . . . .. 204 5.1 Capital cost .......... . ...... ......... ..... .... .. 204 5.1.1 Capital cost variables . . . . . . . . . . . . . . . . . . . . . . . . . .. 204 5.1.2 Cash flow . . . ............................... 207 5.2 Operating costs . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . . . . . . . 208 5.2.1 Manning costs .. .. .... . ...................... 209 5.2.2 Repairs and maintenance .. ............... . ...... 212 5.2.3 Stores, supplies and lubricating oils .... . ... . ........ 214 5.2.4 Insurance . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. 216 5.2.5 Management. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. 217 5.3 Voyage costs . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 217 5.3.1 Bunkercosts .................. . ............. 218 5.3 .2 Port costs and canal dues . . . . . . . . . . . . . . . . . . . . . . .. 222 5.4 Cargo handling costs ....... . ... '........... ........ , 226 5.5 Voyage calculation . ... . .......... . . ..... .. .... '. ... 229 5.5.1 Heavy lift shipping example ............. ..... ... . 229 5.5.2 Dry bulk shipping example ...... ... . . .... ........ 237 5.6 Composition of cost over time . . . . . . . . . . . . . . . . . . . . . . . .. 239

    b( CHAPTER 6: FREIGHT, REVENUE AND USER COST ....... . .... . . . 243 6.1 The user cost of shipping .. .... ..................... . 243 6.1.1 The freight element as share of import values ......... . 243 6.1.2 Shipping costs of bulk products .... .. .. ..... ...... . 245 6.1 .3 Value and transport costs of non-bulk commodities ..... . 254 6.2 Cast and revenues cases ........................... . 254 6.2.1 The million barrel tanker ........................ . 255 6.2.2 Capesize bulk carriers . ........................ . 260 6.2.3 Container ship service ......................... . 264

    ti CHAPTER 7: FREIGHT RATES AND SHIP PRICES ... . . . .......... . 271 7.1 Freight rates ........... ... ........... ........... . 271 7.1.1 Dry bulk shipping .................. .......... . 271 7 .1 .2 Crude oil and oil products tanker shipping .......... . . . 276 7.1.3 Chemical tankers ......................... . .. . 278 7.1.4 Gas carriers .. . .. .. . ... ..... . . . . . .......... . 278 7.1.5 Reefer ships .. .. ....... . .................... . 279 7.1.6 Container shipping . ........................... . 280 7.2 Newbuilding, secondhand and demolition prices ............ . 281 7.2 .1 Newbuilding prices ........................... . 282 7.2.2 Secondhand prices .. .... ................ . .... . 284 7.2.3 Demolition prices ....................... . .... . 285

    p( CHAPTER 8: MARKETS AND MARKET STRUCTURES IN SHIPPING . ... . 289 8.1 Freight contracts and rewards ....... . ..... .. . . ... . ... . 291 8.2 Classification of markets ......... . ................. . 292 8.3 Formation of expectations in shipping ................... . 296 8.4 Market forms ........... .. ...................... . 297 8.5 Main types of freight markets and shipping segments ..... ... . 299 8.6 The dynamics of competition ................... .. ... . 302

    X CHAPTER 9: MODElLlNG FREIGHT MARKETS .. . ............... . 304 9.1 The simultaneity problem . . ... . ..................... . 304 9.2 Measurements of prices and quantities in bulk shipping ....... . 306 9.3 The elasticity of bulk shipping demand ............... ... . 307 9.4 The elasticity of bulk shipping supply ................... . 311 9.4.1 lay-up and storage ................ .... .. . .... . 314 9.4.2 The load factor .. .... . ....................... . 314 9.4.3 Off-hire .................... . .. ....... . .. .. . 315 9.4.4 Waiting days ............ . .. . . . ... . . ... ..... . 315 9.4.5 Average length of haul and ballast factor ........ ... . . 316 9.4.6 Speed .................................... . 317 9.4.7 Summary of productivity factors .......... . ....... . 319 9.5 Types of market models ............................ . 323 9 .5.1 NORTANK - constructing supply from micro data ....... . 325 ( 9.5 .2 NORBULK - the power of aggregation ............... . 334 9.6 Analysing non-bulk markets: Ä liner shipping case .......... . 342

    /~PTER 11: MARITIME POLICY ....... . ........ . .......... . 427 11.1 Rules, regulations and regulatory bodies ................ . . 427 11 .1 .1 The basic system of maritime law ... . . . .. .. . .... .. . 427 11 .1.2 Some important conventions and regulations ......... . . 428 11 .1.3 Compliance with regulations .... ... .. . . . ......... . 432 11.2 Flag states and port states . ........ .. . . ........... . . . 432 11 .3 Case in maritime policy: The Code of Conduct for liner shipping . . 439 11.4 Case in maritime policy: Tanker shipping pollution .... . .. . .. . 443 11.4.1 Tanker shipping as a polluter of the seas .. .......... . 443 11.4.2 The human factor in accidents .... . ....... . .. . ... . 445 11.4.3 Age of ships and accidents ..... . ............ . ... . 445 11.4.4 Regulating regimes . . . . ... . .. . ................ . 447 11.4.5 The public image of shipping ............... . ..... . 449 11.4.6 The IMO options in 1992 ................ ... . . . . . 449 11.4.7 The costs for consumers of tougher tanker market regulation 451

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