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Maritime Economics



Course format Blended
Date 2022-07-04 - 2022-09-19
Duration 100 hours
Entry level Bachelor
Cost £1200


To provide an insight into the markets, economics and operational systems which are fundamental to the provision of waterborne transport.

Outline Of Syllabus

The module will cover the following topics:

1.       Introduction to marine transportation
2.       Introduction to basic economic theory
3.       Shipping supply and demand
4.       Shipping supply and demand
5.       Time value of money (regular cashflow patterns)
6.       Time value of money (irregular cashflow patterns)
7.       Time value of money (measures of merit - NPV, RFR, AAC, PBR, etc)
8.       Depreciation and tax
9.       Cost breakdown and voyage analysis
10.       Introduction to shipping market
11.       Shipping markets and commodities
12.       The tanker market (freight rates and contracts, WORLDSCALE index)
13.       The tanker market (equivalency and behaviour of freight rates)
14.       The tanker market (characteristics and structure of the market)
15.       The tanker market (FOB and CIF prices, optimisation)
16.       The tanker market (oil transportation network, minimisation of transportation cost)
17.       Dry bulk markets
18.       Liner market and container transportation

This module will include preschool reading, examples, a preschool assignment, an intensive school (five days), and a post school assignment.

Pre-school material

Normally requires 50 hours of study.

Pre-school material enables you to revise and review prerequisite material so that the intensive school can be run efficiently and effectively. The materials will be available six to eight weeks before the intensive school takes place.

You will undertake a pre-school assignment (30% of the module mark) which you will submit on the first day of the intensive school.

One week intensive school

Has an approximate contact time of 35 hours.

The intensive school includes lectures, case studies, tutorials, presentations, and discussions.

You will sit an examination (40% of the module mark) during this intensive teaching week.

Post-school material

Requires 15 hours of study.

This material consolidates the module learning.

Post-school material involves completion of a post-school assignment (30% of the module mark) which you will submit eight weeks after the intensive school.

Teaching Location: Newcastle City Campus

*The start and end date stated above is approximate.


You should have a minimum of:

  • a Second Class Honours degree in Engineering or equivalent with a strong quantitative component
  • at least three years of relevant work experience in the marine sector or similar

You'll also need to provide a personal statement and reference.

Find out more about entry requirements (including English language requirements).

Application procedure

There are normally two intakes each year, in September and February. Find out more about the course on the Newcastle University prospectus website.

Use Newcastle University’s online application portal to apply for the course.


ISCED Categories

Maritime economy