COURSE DESCRIPTION

CHARTERING I
C. Giziakis

The purpose of this course is to explain the operation of freight markets and chartering in ocean going shipping. Basic types of freight markets (dry cargo – tankers). Function of market. Factors determining the freight rate. Information and Sources of Information. Information coverage, port agents, supplies. Shipping marketing. Organization of a shipping company. Bills of lading. Incoterms. Documents. Clean bill of lading. International conventions on the bill of lading. Charter parties. Types of chartering. Voyage charter. Mixed time and voyage charter. Time charter. Bareboat charter. Demise charter. Business agreements. Cost allocation in charter parties. Multiple charter parties. Exercises.

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SHIPPING INVESTMENT EVALUATION
C. Giziakis – E. Sabrakos

Purpose of this course is to train students in the application of the financial evaluation of shipping investment. Introduction, causes leading to investment evaluation. Purposes, criteria. Investment evaluation technique (economist’s approach – opportunity cost – accountant’s approach). The particularity of the transport sector, and the shipping sector, External causes. The timeless value of money. Capital cost. Private and Public Investment. Multiple criteria and single criterion methods for the evaluation of investments. Feasibility study. Money market and investment evaluation. Discount methods. Internal rate of return versus net present value. Decisions to adopt of dismiss investment programs. Decisions to adopt or dismiss projects in tax free money markets. Classification of investment programs. Mathematical formulas in investment evaluation. Time planning, diagrams, GANT, PERT, CPM. Investment evaluation from the National and Social points of view. Problems.

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INTERNATIONAL INSTITUTIONAL FRAMEWORK OF SHIPPING II
G. Vlachos

The phenomenon of gigantism related to merchant ships. Economies of scale. Accidental pollution caused by merchant ships. Operational pollution caused by merchant ships (slopreception facilities, emergency action plans for the Mediterranean) LOT system, clean ballast tanks, SBT, CBT, COW, Slop tanks, oil filtering system. IGS and IGG Systems. International IMO Conventions and their economic significance (OILPOL 1954, International Convention 1969, CLC 1969), FUND 1971, London Dumping Convention 1972, SOLAS 1974, MARPOL 1973/1978, OPRC 1990) – conferences on sea pollution (TSPP 1978, Marine Environment Committee 1992) – special compensation funds in cases of marine environment pollution (TOVALOP 1969, CRISTAL 1971, OPOL 1974). The Oil Pollution Act 1990, feasibility analysis and planning.

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PORT ORGANIZATION AND MANAGEMENT II
C. Chlomoudis

Port planning. National port and harbour planning and fundamental port plan. The principal stages and the planning procedure. Planning economics and a project study. Criteria for port investments. Equipment investments. Port traffic management and the Port Operations and Communications Center. Port communication system and E.D.I. Port Statistics: a/ statistics on harbour facilities, operations and services. b/ statistics on shipping traffic. c/ statistics on passenger and merchandise traffic and statistics on the contribution of the factors of production.

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MANAGEMENT OF OFFSHORE AND MARINE INDUSTRIES
A. Goulielmos

Planning and management of the use of the sea. The fishing industry and its economic management. The oil industry and other underwater mining industries and their technological and economic analysis. Exclusive economic zones – financial analysis. Sea bottom oil mines etc. and economic evaluation of sea recourses. Management and development of technical marine cultivations. Management of recreation industry. Military use of the oceans. Management of coastal industries and coastal zones. Shipbuilding and Ship Repair Industry Economics. Economics of non – renewable resources. Cost benefit analysis (in connection with port policy and port investments). Externalities.

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MARINE INSURANCE II
M. Pazarzis

Subject of marine insurance – vessel – freight – cargo – anticipated profit. Types of averages – on vessel abandonment. Objectives and contents of Marine Insurance. On risks – perils as sea, war risks, hostilities, civil commotion, strike insured to blame. Marine Insurance Policy, drawing up – contents – termination of a Policy, categories of terms. Transport means, stowage, voyage. Institute Clauses. Exceptions: War clauses, hostilities clauses, Strike clauses. Special clauses: cancelling clause, accumulation clause, replacement of labels clause, vessel classification clause. Insurance indemnity. The underwriter’s interest, the shipowner’s interest, the cargo owner’s interest, the manager’s interest, the lender’s and borrower’s interest, the shipmaster’s interest, the crews’ interest, the insurance brokers’ interest, the pawn broker’s interest, the sequestrator’s interest and the executor’s interest. Damages. Rein – surance. Insurance assignment. Practical issues. Special issues regarding International Legislation.

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EUROPEAN UNION ECONOMICS AND SHIPPING (OPTIONAL)
S. Theodoropoulos

Free trade and protectionism. Customs associations and economic integration. European Union’s integrated internal market. European Monetary Union, European Union’s Common Shipping Policy.

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LOGISTICS (OPTIONAL)
E. Papadimitriou

Introduction to Logistics. Strategy of the Logistics sector. Client service. Provision for future demand. Handling orders and the information system. Transportation – European dimension. Transportation and means of transportation. The concept of competition in the transportation of goods. Terminal stations. Technological applications in the transportations sector. Electronic Data Exchange. Stock management. Warehouse organization.

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ENGLISH VII
E. Apostolou

Financial terminology – terminology used in the European Communities. Processing and translation of related texts, like: Macroeconomics, finance, banking, business organization, marketing, accounting, statistics, maritime studies and advanced level shipping terminology. Analysis of said texts in the form of discussions – written exercises.

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