THE CONTRIBUTION OF MARITIME ECONOMICS TO THE REVITALIZATION OF THE US MARITIME INDUSTRY

This paper discusses the importance of economics in the maritime industry and the consequences of ignoring the effect of economic factors. The effect that economics has on the industry's organization, including its structure, behaviour, and performance is explored. The relationship between maritime economics and transportation economics is examined and the implications of modelling the demand for shipping and shipbuilding services as a derivative of the demand for international trade and commerce is explored. In this regard, the authors present the US maritime industry and chart significant milestones in its development. This leads to a discussion of the impact of the globalization of commercial shipping. Also considered is the history of government involvement and the military role of the maritime industry. The central thesis of this discussion is that the markets for ships and shipping are becoming increasingly more competitive, and less susceptible to outside constraint. The authors then illustrate their thesis by presenting case studies capturing the two main segments of the maritime industry: international shipping and international shipbuilding. They then prescribe the need for a market-driven industry receiving minimal intervention by government. Finally the roll of SNAME's Panel 0-36, "Maritime Economics", is discussed in relation to the concerns of maritime economics that embrace far- reaching issues with significant application to shipping and shipbuilding in the US.

  • Supplemental Notes:
    • Marine Technology, v 33 n 1, Jan 1996, p 1 [10 p, 8 ref]
  • Authors:
    • Zeien, J J
    • HILLMANN, J F
  • Publication Date: 1996

Language

  • English

Subject/Index Terms

Filing Info

  • Accession Number: 00727597
  • Record Type: Publication
  • Source Agency: British Maritime Technology
  • Files: TRIS
  • Created Date: Nov 1 1996 12:00AM