INTRODUCTION: DOMAIN DESCRIPTION
The importance of international transportation and global supply chain management for trade efficiency and welfare need little emphasis. In recent years, trade grows at a healthy 8%, twice as much as world production. An overwhelming percentage of international trade takes place by sea. The role of developing countries, particularly those of Asia and Latin America, in glo- bal production is continually and comparatively increasing. Still, more often than not, these countries are found in need of better operational practices, technology and policies for the deepening of their integration, through trade, to the global economy.
Due to competition and technology, transport costs have been constantly declining over the past decades. Although this is a distinct and welcomed benefit to trade and prosperity, signifi- cant disparities exist among countries and regions. Developing countries pay twice as much for their imports (in terms of transport costs) as developed ones, but even within developing countries themselves disparities continue to be pronounced with, for instance, Africa paying twice as much as Asia and Latin America.
Competition among nations and export-led growth strategies leave little room these days for trade inefficiency. This, for any inefficiency, however small, in any part of the global sup- ply chain, such as badly run ports; wasteful infrastructure investments; congestion and other transport externalities can constitute substantial bottlenecks and hindrances to the efficacy of the supply chain itself. One of the effects of globalization is that it is no longer ports or carriers that compete for custom among themselves, but competition takes place mostly among sup- ply chains and networks instead. Together with ICT and general economic reform, transport, distribution and related logistics are now known to be the key enablers of globalization. Finally transportation has been ‘rediscovered’ in the models of international economics. It is no longer treated as a constant, represented by ‘physical’ distance, but as a significant variable, that of ‘economic’ distance which, among many other factors determines why people trade with each other.
INTERNATIONAL BENCHMARKS
The breadth of MEL studies and the complexity of the MEL sector mean that many of the constituent modules can be approached through a number of avenues and in differing areas of emphasis. Attempts therefore at curriculum description must tread with caution and institu- tions offering such programs must be allowed the requisite degree of freedom to design them according to internal, departmental, resources on the one hand and external business environ- ment on the other. For instance, at engineering schools, the emphasis is often on logistics; port
economics and policy is emphasized at universities of port-cities; shipping economics and policy
at International Maritime Centers such as Singapore and Piraeus; transport and distribution at important and overpopulated distribution hubs such as Rotterdam and Antwerp; Shipping
Finance at financial centers such as London; and so on.
Amongst institutions offering MEL studies, the following could be mentioned: Cardiff Uni- versity (UK); Athens University of Economics and Business (Greece); University of Piraeus (Greece); University of the Aegean (Greece); University of Genoa (Italy); University of Bari (Italy); City University (UK); Copenhagen Business School (Denmark); Dalian Maritime University (China); Shanghai Maritime University (China); World Maritime University (Swe-
56 QANU / Master of Science in Maritime Economics & Logistics (MEL) den); Hong Kong Polytechnic University (China); University of Antwerp (Belgium); Erasmus University Rotterdam (Netherlands); University of Plymouth (UK); University of Leeds (UK); London Metropolitan University (UK); Nanyang Technological University (Singapore); Uni- versity of Newcastle upon Tyne (UK); National Taiwan Ocean University (Taiwan Province of China).
DISCIPLINES MEL STUDIES ARE/COULD BE APPROACHED
Economics/Econometrics
Market structure; pricing; modeling; forecasting; externalities
Operations Research
Planning and scheduling; optimization; simulation
Management/Finance
Mergers & Acquisitions; vertical and horizontal integration; strategy; HR; financing
International Economics
Trade and transport; infrastructure and economic development; trade and transport policies
Law
International conventions; law of the sea; contract law; insurance law;
Engineering
Naval architecture and marine engineering; terminal and cargohandling technologies; trans- port systems technologies
Geography
Spatial dimensions of transport systems; city-port relationships; origin-destination commodity flows; port competition
DOMAIN SPECIFIC QUALIFICATIONS
1. Understand, analyze and appraise (UAA) the role of the MEL sector(s) in the Economy, trade, society and welfare
• UAA the role of international transport in modern theories of international econo- mics
• UAA the role and impacts of ports and infrastructure on local and regional economies and international trade
• Contextualize the impact of globalization on transport systems
• Understand and measure the link between international ocean transportation and trade
• Articulate maritime and transportation policies with reference to environment pro- tection, safety, security, congestion prevention, competition policy
• Identify cargo types, their transport/logistics requirements, and major trade routes • Identify, understand and use key performance indicators in a supply chain
• Identify, understand and use key performance indicators in container terminals
2. Understand, analyze and appraise the interconnectedness, implications and impacts of stake- holder decision-making along the global maritime supply chain
• UAA the role of ports; port communities; and port information systems as facilita- tors/enablers in global maritime supply chains
• Understand the differences and dynamics of the various MEL sectors and markets • Understand and appraise the economic implications of various ship designs and rela-
5 QANU / Master of Science in Maritime Economics & Logistics (MEL)
• Understand the economics of innovation diffusion in transport and its impact on the efficiency of supply chains
• Pynthesize, assess and balance stakeholder interests and, accordingly, set up a finan- cing and pricing strategy for a port
• Assess the role and impact of tariffs, quotas and other barriers to trade on the supply chain
• UAA how the operations and economics of various transport modes are affected by government intervention, and national and supranational policies
3. Analyze theories and trends in Maritime Economics and Logistics
• UAA the implications of port privatization for trade efficiency and societal welfare • UAA the limitations and potential of port performance measurement theories • UAA the parameters and management implications of a port master plan • UAA the objectives of a port marketing plan
• Develop a management strategy for a terminal
• UAA concentration and market power in transport markets and assess their impacts on society
• Understand price formation in various transport, infrastructure and logistics markets • Understand the issues related to human capital in shipping and in the MEL sector by
and large
• Familiarize with the academic literature of the MEL discipline as defined at EUR. • Manage a supply chain for various types of cargo and commodities
• Cope with hinterland transportation limitations and bottlenecks, in rail, road and inland waterways
• Identify key management issues and challenges in a transportation company
• Understand the main tenets of public international law and their ramifications on trade and transport efficiency
• Be able to read, understand and assess charterparties and bills of lading • Be able to identify major responsibilities in insurance claims
4. Critically assess theories and trends in Maritime Economics and Logistics
• Through academic literature review and research methodology, write a Master’s thesis
5. Make research-based decisions in (parts of) complex maritime supply chains with limited infor- mation
• Use queuing theory to model terminal design; shipping and transportation problems • Model and forecast major markets and key maritime variables (freight rates, second
hand prices, etc)
• Use programming techniques to set up and optimize liner shipping networks • Use simulation in container terminals; shipping; and transportation problems • Use decision theory to formulate maritime and transportation problems
• Appraise investments in shipping and transport infrastructure under conditions of risk and uncertainty
• Understand hedging instruments and the way they can be used in managing ship- ping risks
58 QANU / Master of Science in Maritime Economics & Logistics (MEL) • Design a container terminal and simulate the performance of various designs
• Determine the optimal levels of inventories, batch sizes and cargo flows
• Assess the commercial implications of charterparty clauses and negotiate accordingly • Draw up tender documents for a concession of services
59 QANU / Master of Science in Maritime Economics & Logistics (MEL)