Program Structure

Maritime Economics

The module aims to enhance students’ ability to apply economic theory on the shipping sector in order to evaluate market equilibrium shifts. The critical evaluation of the parameters affecting supply and demand will provide students with the necessary tools to critically evaluate the shipping economic environment and apply timely and rational decisions regarding chartering, managing and investment strategy. The identification of the shipping cycle market stage consists of an important part of the Module.

Financial Accounting

The aim of the module is to prepare students to apply accounting principles, and prepare financial statement reports that provide information about a firm’s performance to external parties such as investors, creditors, and tax authorities. In addition, the module familiarizes students with the specialized accounting handling of the Masters General Accounts.

Maritime Law

The module aims to familiarize students with the legal issues related to the maritime industry with a specific focus on the fundamental principles of English contract law and the law of international trade.

Management of Shipping Enterprises

The module aims to enhance the analytical abilities of students in order to apply management and organizational techniques in shipping companies. Management theories are critically presented with special emphasis on the applicability of management functions in the particular context of a shipping company. The peculiarities deriving from the very nature of shipping services and their implication on the organization and operations of shipping companies are critically addressed in such a way as to urge students to apply theoretical knowledge into viable managerial actions.

Chartering

The module aims to provide knowledge on the chartering procedures (dry & wet cargo), taking into consideration all parties involved in the brokerage process. The module focuses on the following items: parties involved, market reports, freight indices, voyage estimation, offers & counteroffers, details required to be included in offers, negotiations, charter party types, and common and prevailing clauses.

Shipping Financial Management

The purpose of the module is to enable students to recognize the most suitable way of finance. It provides them with the ability to approach the proposed financing activities of major financial institutions and concentrate on all important factors that may influence the monitoring process of required financing from the moment that an investor requires financing up to the moment of its paid back. Moreover, students should also be able to analyze and assess risk, volatility and risk exposure and at the same time to develop the ability to utilize all current highly sophisticated financial products to control risk.

Marine Insurance

This module intends to give students, a systematic understanding of particular topics of Marine Insurance. Special emphasis is given to the analysis of the Institute Hull, Cargo and Freight clauses and to the particular problems of interpretation, to which these clauses have given rise in their everyday application. Moreover, students will deal with particular (total and partial) and General Average and related measure of indemnity. The students by the end of the module will know how Institute Clauses and York-Antwerp Rules work in practice and will be able to deal in a satisfactory manner with legal issues arising from their application. The module puts particular focus on providing knowledge that allows solving legal problems arising in practice.

Shipping Operations

The aim of this module is to give the students the knowledge and understanding of the management functions and introduce them to key ideas and practices of management, along with the vital concepts and techniques necessary for the efficient operation of a shipping company. Moreover, this module’s aim is to provide students with overall knowledge of cargo properties with particular focus on the main cargoes transported by sea. Every different kind of cargo has its own way of package, storage, care during the sea voyage, the loading and discharging method, the different equipment to handle safely, stow the cargoes succeeding a good quick turn round and port speed.

Negotiations and Claims Handling

Shipping companies are faced with not only a great variety of different types of claims but also a great number of different jurisdictions where legislation and custom can vary a great deal. For those reasons alone, there can never be an “all-in” formula for dealing with claims but there are things that can be done both to safeguard one’s own position. The module comprises extensive cases and examples and has been tailored to the shipping industry to reflect typical areas that they might negotiate in. This will provide them with their own personal awareness, relevance and provide them with the experience and challenges in translating Negotiation theory into reality.

Dissertation or Internship

The dissertation is designed to provide an opportunity for students to undertake a substantial piece of research in the subject area of Shipping. The research is intended to build on the taught modules of the Programme. In this module (only for those opting for dissertation) a set of four specialized seminars by a classification society leading to certification (if successfully sit to the exams) is scheduled. Alternatively, students may choose to carry out an internship at shipping companies for a period of 8 weeks.