Critically appraise the importance of sea transport to the global economy and describe the characteristics of the sea transport demand

Critically appraise the importance of sea transport to the global economy and describe the characteristics of the sea transport demand

MARITIME ECONOMICS

 

Instructions to candidates:

 

a) Time allowed: Three hours (plus an extra ten minutes’ reading time at the start – do not write anything during this time)

b) Answer any FIVE questions

c) All questions carry equal marks. Marks for each question are shown in [ ]

 

1. Critically appraise the importance of sea transport to the global economy and describe the characteristics of the sea transport demand. [20]

 

2. Describe the main influences on the level of demand for maritime services and identify the characteristics of economic cycles. [20]

 

3. Give your understanding of the following terms:

 

a) Break-bulk liner services

b) Bulk carriers

c) Demurrage [20]

 

4. Identify the main sources of economies of scale and explain how economies of scale can benefit maritime operations. [20]

 

5. Advise a group of maritime economics students on components of TWO shipping markets of your choice and provide examples to support your explanations. [20]

 

6. Discuss the economic factors that will have an influence on the choice of transport of bulk cargoes. [20]

 

7. Write notes on THREE of the following:

 

a) Charter party

b) Time charter

c) Voyage charter

d) Transport logistics [20]

 

8. Prepare a report explaining the following financial topics to members of your staff:

 

a) Cash flow costs and gearing

b) Estimating a ship’s depreciation

c) Raising finance by issuing bonds [20]


Price: £ 40

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