COURSE DESCRIPTION

SHIPPING FINANCE
A. Goulielmos

Types of shipping Finance such as: bank loans, shipyard loans, financing on the basis of cash flow. Mezzanine finance. Insurance cover of finance risk. The cyclical nature of shipping markets. Realisation of the investment decision. The H. Hampton theory on shipping cycle. Historical review of the shipping cycle. Tanker market. N. Kondratieff’s very long cycle theory. Relation between banks and Shipping. Characteristics of commercial shipping banks. Shipping finance companies. Finance brokers. Analysis of documents involved in a shipping loan. Case studies. Investment Evaluation methods.

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QUANTITATIVE METHODS II
Th. Gamaletsos

General linear model. Special issues (models of distributed lags, model of readjusted expectations etc.). Econometric systems. Introduction to time series analysis. Identification stage. Estimation stage. Diagnostic control stage. Exercises – Applications.

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PORT ECONOMICS AND POLICY
A. Pardali - Lainou

Economics Policy and Ports. Demand and supply of port services. Port production. Productivity and efficiency in port operations. Optimisation of port production. Competition between ports. Port cost. Economies of scale in port production. Port pricing policy. Port investment policies. European Union’s port policy.

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MARINE ENVIRONMENT
V.S. Tselentis – N. Poulantzas

Sources of pollution. Routes of pollutant penetration into the sea. Waste disposal into the sea. Health and Environment: Presentation of cases of toxic substances in the marine environment. Mechanisms of action of toxic substances on the human organism. Sources of pollution related to Shipping: under – water paints. Accidental and operative pollution related to Shipping. International Conventions (MAPPOL – IMDG – code ISM/ISO). How the Shipping Sector deals try to fight pollution. Ship waste processing and management. Atmospheric pollution in the ports. Environmental impact Assessment on the marine environment – vessels, ports, accidents. Environmental management of Port and Harbour Operations. Oil slops – dangerous cargoes. Coastal zone management. Standards of environmental management in shipping. Shipbuilding - environmental performance evaluation. Field work.

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SHIPPING ECONOMICS AND POLICY II
G. Vlachos – C. Giziakis

The “substitution” phenomena in mercantile marine. The “specialisation” phenomenon. Function of basic freight market. Interaction of freight markets and categories of tonnage. The concept of cargo unitisation and its wider economic significance. The concept of containerisation. International Maritime Conferences. The UNCTAD code on Maritime Conferences. Liner freights and the theory of tariff rates. The Market mechanism in the transport by sea of cargoes in bulk. Seasonal variation and mercantile marine. The “shipping crisis” and “endogenous crisis” phenomena in mercantile marine. Arbitrage. The concept of “lay up” and its economic analysis. Role of “New building” and the international tonnage supply. The meaning of “shipbuilding”, “Shiprepairing” and “Ship’ s Conversion”. The role of Greek shipbuilding and ship repairing industry as part of shipping industry. The participation of the shipbuilding and shiprepairing industry in the National Economy. The shipbuilding policy of E.U., OECD and other International Organisations.

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TRANSPORT ECONOMICS II
E. Sabrakos

Introduction to the construction and use of models. Forecasting the future demand for transport. Coastal transport. Inland shipping. The air transport sector. Combined transport. European policy on transport.

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ENGLISH VI
F. Sivridou

Advanced level, specialized texts based on issues relative to Economics, Business Administration, Trade, Bank Administration and Shipping. Analytical processing and translation of the texts. Additional vocabulary enrichment and practice with vocabulary, grammar / syntax exercises on the basis of the material taught during the previous semesters. Commercial correspondence: Models of letters to be used in connection with specific or more complex matters and problems. Useful sentences, vocabulary and translation exercises with a content similar to that of the letters. Introduction to the writing of reports, statements, summaries, memos and projects.

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