2. the organization of the shipping market defining the maritime market defining demand / customers...
TRANSCRIPT
2. The organization of the shipping market
• Defining the maritime market• Defining demand / customers• Defining the suppliers• Shipping= Παίκτες/agents: Shippers,
shipowners, brokers, shipbuilders, bankers, regulators.
Shipping is a way of life, not only business!
An overview below…
Product differentiation In shipping (how a cargo is shipped)
• Price (Demand is relatively price inelastic. As transport cost only 2.5%, has little or no impact on the cargo volume transported)
• Speed ($1mil. Inventory cost, with 10% int.rate, for 3-month period costs $25.000. If 1.5 month period, it worth paying 12.500 more freight…for a speeder ship…)
• Reliability (just in time!)• Security (the cost of loss/damage/piracy)--------------------------------------------------------------
The economic model of sea transport below
Economic model of sea transport
• Bulk (liquid/oil/chemicals/wine etc, Major/grain/coal/ironore/bauxite/pausphate, Minor/steel/cement/ salt/ wood/ etc)
• Liner (loose, containerized, palletized, pre-slung small items cargo, liquid, refrig., heavy)
• Specialized (ships for specific cargo types/vehicles forest, refrig. Gas, etc))
Differences in 1. Value2. Volume3. Number of transactions4. Commercial systems
Ship size and economies of scale