ENE431 Shipping Economics and Analytics

• Topics

  Shipping has seen tremendous advancements thanks to the influx of data from various sources. From operational to weather data, the possibilities are endless. By taking this course, you'll have the opportunity to dive into new research fields and cutting-edge business models that take advantage of this data.

  Our goal for this course is to provide a comprehensive understanding of shipping economics, with a focus on practical applications. We'll achieve this by immersing students in a practical environment, where theoretical concepts will be interpreted with real data.

  The following topics will help in reaching such goal:

  • Introduction to models and data-driven analytics for shipping markets.
  • Data Analytics for shipping commercial, operational and environmental problems.
  • Commercial contracts for ships and the functioning of the chartering markets.
  • Data Analytics to map the shipping transition towards a Net-Zero 2050.
  • The differing market structure, competition and business strategies in selected shipping sectors.
  • Business risks and risk management in shipping.
  • Regulatory and environmental issues in international shipping.
  • The financing of shipping assets.

• Learning outcome

  Upon successful completion of the course, the candidate

  Knowledge

  • understands the economic mechanisms driving the international shipping markets
  • is familiar with recent developments in data-driven analysis applied to the freight markets, ship operations, and more environmentally friendly operations
  • is conversant on technical aspects of shipping digital platforms
  • understands how to apply advanced economic models and concepts in international shipping

  Skills

  • finds, synthesizes, and presents information on the international shipping
  • can apply economic theory to varied strategic issues and practical problems facing shipping companies
  • considers the economic, political and ethical issues relevant to the shipping industries
  • can communicate with industry practitioners using correct terminology

  General Competence

  • communicates problems, methods and solutions from the analyses both in writing and orally
  • translates statistics into managerial insight
  • exchanges opinions and experiences with others with a background in the field

• Teaching

  About 30% of many of the lectures will be devoted to a mini case study to be solved in groups.

  Hands-on sessions and offline tutorials with shipping big data will help in preparing for the group assignment.

• Recommended prerequisites

  Familiarity with a programming language is not necessary, but will be helpful that at least one group member for the group assignment has some basic knowledge of Python, R, or Julia. The course includes some walkthrough sessions and offline tutorials for basic programming coding in Python for shipping data analytics before the group assignment.

  Background knowledge in finance (discounting and net present value, options), microeconomics (supply and demand functions, elasticities), and statistics (probability distributions, expectation, standard deviation, variance, and regressions). If you need some extra help remembering these concepts or just a basic understanding to get started at the beginning of the semester, the instructor will upload additional materials to assist you.

• Required prerequisites

  None

• Credit reduction due to overlap

  None

• Compulsory Activity

  A draft of the group-based essay that is a part of the assessment must be submitted and approved (English only).

• Assessment

  The course is assessed in three parts: a group-based assignment with 30% from an essay and 20% from an oral presentation, and a written 4-hour individual home exam (50% of the final grade). The group assignment (groups of a minimum of two students and max four students) includes an essay and a presentation to the class on one of a list of prescribed topics of the shipping markets. The language of the exam is English only.

  Students will work on the essay for 4 weeks (submission deadline: end of October). Presentations will be covered in 3 to 4 days (depending on the number of groups), starting from week 43.

  If you wish to retake an exam, you have to retake both the group assignment and written exams in the same semester.

• Grading Scale

  A-F

• Computer tools

  Programming knowledge is not necesssary. However, walkthroughs Python will be used for the labs. R or Julia are also accepted.

• Literature

  Selected academic articles to be made available through Canvas/Leganto.