Students will be introduced to the discipline of Management and its four functions (planning, organizing, leadership, control) along with the foundations and modern methods of business planning. Management planning tools and techniques for decision making will be utilized and applied in ship operations, technical, crew, compliance, communications, and financial management. People Management principles are also explored as applied to a shipping business. Moreover, the basic principles of safety and quality management systems will be analyzed and applied to the shipping industry. ESG (Environment, Social, Governance) principles are applied to a shipping business within a management system approach incorporating industry best practices guidelines with a clear emphasis on the Environmental pillar in accordance with IMO 2050 targets.

Laws, Rules and Regulations are the tools, through which Policies are being implemented. In the shipping industry, IMO is the main Policy Maker globally, but its resolutions have to become national laws, in order to be applied. Other Maritime Policy Makers (through establishment of Rules and Regulations) are the European Union, the USA and other major countries. But regarding Rules and Regulations these are not the only ones. International Organisations (ILO, ISO) and Industry Organisations (OCIMF, RightShip) are also key players both in establishing regulations and ensuring compliance with them.

The module offers an introduction to shipping law and the key legal elements to be encountered. Students will have the opportunity to get familiar with the shipping law and practice through both theory as well as case-study examples. They will learn the core laws that govern the marine affairs, the basic shipping conventions, the legal risks and implications of a casualty and what insurance products are available to counter these risks, i.e., essential knowledge both for preventions as well as handling/mitigation purposes.

The module provides students with the knowledge regarding the financial policy of shipping companies with emphasis on investment programmes, capital structure, cost of capital and pay out policy. Furthermore, it focuses on topics such as: leasing, financing expansion, collaterals used in finance, cash flow analysis, syndicated loans, project finance for new ships, financing new ships – commercial funds, financing second – hand vessels and conversions, financial appraisal of new projects, the importance and the role of using foreign currencies. Additionally, it analyses the capital markets, the equity (ipo’s) and debt finance. Furthermore, modern types and methods of financing shipping companies (e.g. Islamic Finance) are discussed and assessed. The nature of the risk in shipping industry is also identified and analysed along with the significance of financial risk management including the following: freight rate risk, ships value at risk, bunker price risk, interest rate risk and exchange rate risk.

The module exposes students to contemporary perspectives in academic research, and in particular focuses on developing a range of skills affecting the identification and formulation of project titles. Special focus is placed on the critical review of available literature and information resources, the use of online databases and other sources. Emphasis is given to the methods used in scientific research, reviewing a range of statistical and non-statistical methods of analyses appropriate for projects in terms of both qualitative and quantitative research. Finally, students will become aware of any research issues associated with conducting research.