Macro Shipping Economics

The urbanization development of the world and China is inseparable from shipping. In the 21st century, the shipping industry has evolved from a basic transportation industry to an asset governed by speculative capital flows and business cycles. This structural shift has many important implications for the shipping business as well as investment strategies. This book fills a gap in the field of shipping economics, pioneering the development of a new macroeconomic approach to shipping economics that emphasizes individual shipping markets and their interdependencies, allowing readers to more fully understand how modern shipping markets work and make critical decisions about when to buy or sell ships and when to enter the spot or scheduled market. The author of this book brings together his rich experience in shipping, finance and academia to make a number of important contributions to the study of maritime economics, including: treating freight as an asset price and treating it as a bargaining game between charterers and shipowners who form expectations for future demand and supply and then perform a dynamic analysis of freight; from theory The article treats ships as assets, and ship prices are determined by demand and supply conditions; explains how to derive ship demand from the dynamic problem of fleet capacity expansion; integrates supply and expectation methods into the shipping cycle; combines maritime economics with macroeconomics to explain how business cycles and demand expectations lead to the creation of shipping cycles.