Essays on Maritime Economics Assignment

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The paper 'Maritime Economics' is a wonderful example of a Macro and Microeconomics Assignment. In today’ s global economy, shipping, port, and logistics are indispensable and are essentially the constructs of globalization. They are vital for economic resources, which have become global, creation of added value, creation of employment, and for facilitating global trade. The maritime industry has experienced major shifts over time, along the lines of international economic conditions. Recently, in the economic crisis of 2008-9, it was one of the most hit sectors suffering major structural changes. Rising globalization presents immense opportunities, similar to challenges and risks.

This requires that maritime managers must make strategic moves to adequately respond to the global environment. This paper explores the global maritime industry and attempts to draw insights for managers in line with globalization. Explain how the market structure for dry bulk shipping affects companies’ competition strategies. Over the past few decades, national economies and the international economy have grown manifold. The 21st century and post World War II profiles indicate the increasing proliferation of both the developed and developing economies. The shipping industry is cited as being at the center of this globalization-related growth (Fré monta, 2009).

More specifically, the dry bulk shipping market is one of the most essential components of this growth and globalization of trade. According to Song (2012), it accounts for 25% and 30% of tons and tone-miles of international maritime trade respectively. It has become so important that it is now being used as a predictor if the world economy state, especially with reference to the Baltic Dry Index. Over time, the market for dry bulk shipping has experienced immense changes aligned with the growth characterizing globalization except for the global recession period.

These changes are related to supply-demand interactions, global economic times, market structure, shipping firms number, their operations sizes, and services homogeneity. Market structure can be analyzed by an assessment of key variables such as product differentiation, entry barriers, number of shipping companies and other related carriers, and cost structure.

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Frémonta, A., 2009. Shipping Lines and logistics. Transport Reviews: A Transnational Transdisciplinary Journal, 29 (4).

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