Open Registry Shipping

A detailed statistical analysis of the cost structures of tankers and bulk carriers operating under open and traditional shipping registries, exploring their relationships with freight rates. The objective is to provide empirical evidence as to whether or not savings made by high-cost traditional operators by transferring to open registries are passed on to consumers by way of lower frieght rates. Annotation copyrighted by Book News, Inc., Portland, OR

Now in its second edition, Maritime Economics provides a valuable introduction to the organisation and workings of the global shipping industry. It is an excellent and up to date treatment of shipping as an economic activity.

Rising densities of human settlements, migration and transport to reduce distances to market, and specialization and trade facilitated by fewer international divisions are central to economic development. The transformations along these three dimensions density, distance, and division are most noticeable in North America, Western Europe, and Japan, but countries in Asia and Eastern Europe are changing in ways similar in scope and speed. 'World Development Report 2009: Reshaping Economic Geography' concludes that these spatial transformations are essential, and should be encouraged. The conclusion is not without controversy. Slum-dwellers now number a billion, but the rush to cities continues. Globalization is believed to benefit many, but not the billion people living in lagging areas of developing nations. High poverty and mortality persist among the world's 'bottom billion', while others grow wealthier and live longer lives. Concern for these three billion often comes with the prescription that growth must be made spatially balanced. The WDR has a different message: economic growth is seldom balanced, and efforts to spread it out prematurely will jeopardize progress. The Report: documents how production becomes more concentrated spatially as economies grow. proposes economic integration as the principle for promoting successful spatial transformations. revisits the debates on urbanization, territorial development, and regional integration and shows how today's developers can reshape economic geography.

All of these flag States have the right to sail ships flying their flag on the high seas (LOSC Article 90) ; and those ships enjo y the freedom of navigation upon the high seas (LOSC Article 87) . W ith this freedom comes a concomitant duty upon the flag State to effectively exercise its jurisdiction and control in administrative , technical , social (LOSC Article 94 (1)) and en vironmental protection (LOSC Article 217) matters over ships flying its flag. 1.2 Flag State Responsibility The absence of any authority over ships sailing the high seas would lead to chaos. One of the essential adjuncts to the principle of freedom of the seas is that a ship must fly the flag of a single State and that it is subject to the jurisdiction of that State. (Brown 1994 , p. 287) This opinion of the International Law Commission in 1956 on a draft article of the High Seas Convention (HSC) was a product of its time; a time of traditional maritime States and responsible long-established shipping companies operating for 3 the most part under the effective maritime administrations of their national flag .

This book provides a comprehensive introduction to the economics of the business of maritime transport. It provides an economic explanation of four aspects of maritime transport, namely, the demand, the supply, the market and the strategy. The book first explains why seaborne trade happens and what its development trends are; it then analyses the main features of shipping supply and how various shipping markets function; the book finally addresses the critical strategic issues of the shipping business. The full range of different types of shipping are covered throughout the chapters and cases. The book combines the basic principles of maritime transport with the modern shipping business and the latest technological developments, particularly in the area of digital disruption. The ideas and explanations are supported and evidenced by practical examples and more than 160 tables and figures. The questions posed by the book are similar to those that would be asked by the students in their learning process or the professionals in the business environment, with the answers concentrating on the reasons for what has happened and will happen in the future rather than merely fact-telling or any specific forecast. The book is most suited for students of shipping-related disciplines, and is also a valuable reference for maritime professionals.

Covering recent developments in maritime transportation and exploitation of sea resources, encompassing ocean and coastal areas, this book is intended for academics and professionals involved in the development of marine transportation and the exploitation of sea resources.