Shipping, Trade and Finance MSc

• Accounting and Finance

  • 15 credits
  • 42 contact hours
  • 108 independent learning hours

  Outlines both financial accounting and management accounting functions within organisations and provide you with the tools and understanding to apply this information in a decision-making context. It will also cover essential skills and knowledge in accounting and finance that will assist you in gaining an in-depth knowledge in the subject area as it is later taught in Corporate Finance.

• Data Analytics for Energy, Shipping, Trade and Finance

  • 15 Credits
  • 30 contact hours
  • 120 independent learning hours.

  Introduces the concept of data analytics in the shipping, energy, trade, and finance sectors. In particular, it teaches you how to work efficiently with commodity, shipping, and financial data so as to make data-driven business decisions. It consists of two interrelated parts: Part 1 is Statistics and Part 2 is Data Analytics Using R.

  Part 1: Statistics focuses on descriptive and inferential statistics, and regression analysis.

  Part 2: Data Analytics Using R focuses on how to efficiently perform data analysis using the R statistical software.

• Shipping Economics

  • 15 credits
  • 30 contact hours
  • 120 independent learning hours.

  Focuses on the operational environment of the bulk-shipping sector. Subsequently discusses extensively the microeconomic structure of the four main markets (freight, second-hand, shipbuilding and demolition) in dry bulk and tanker shipping, together with the operational characteristics, international regulations and policies which affect these highly competitive, volatile, but nevertheless exciting industries. Continues with an introduction in liner and container shipping economics and concludes with a discussion of additional shipping sectors and an introduction to port economics.

• International Commodity Trade

  • 15 credits
  • 30 contact hours
  • 120 hours independent study.

  Focuses on the world's major bulk commodities, broadly arranged into energy, food, mineral and industrial goods. Commodities are examined in depth in order to establish distinctive micro-economic characteristics, focusing on demand, supply and pricing mechanisms. Trading practices for the commodities are also examined, including both physical and futures markets. On this foundation, the module goes on to discuss international transport systems and the development of advances through transport systems for the shipment of bulk and unitised commodities, and concludes with an introduction to the techniques and instruments available to finance commodity trade.

• Corporate Finance

  • 15 credits
  • 42 contact hours
  • 108 hours independent study.

  Develop an understanding of modern corporate finance so that the corporate manager, the investment banker and the financial analyst will have the conceptual foundations for making informed corporate assessments of key financial decisions.

• Shipping Investment and Finance

  • 15 credits
  • 45 contact hours
  • 105 independent learning hours.

  The skills developed in both Principles of Finance and Corporate Finance are applied to the shipping industry while introducing several new and important concepts to develop the ability and the analytical tools to make rational shipping investment and finance decisions. Making extensive use of case studies, areas covered include the fundamental principles of shipping investment and finance; vessel investment and disposal markets; investment feasibility studies; bank credit policy, bank credit analysis and proposals; raising equity and debt capital for shipping companies; tapping the public equity and debt markets; other sources of shipping finance such as leasing, export credit agencies and shipyard credit; and risk management in shipping.

• Financial Modelling and Business Analytics

  • 15 credits
  • 42 contact hours
  • 108 independent learning hours

  Combines economic/financial theory with more advanced quantitative techniques used in financial modelling and business analysis. The module uses software such as Excel, Eviews and @Risk to build financial and economic models to investigate empirical problems or assist the business decision making process. The FMBA module covers different applications of finance, probability and statistical techniques to analyse and solve various problems in business, economics, shipping, energy and transport.

• Chartering Freight Trading and Sale & Purchase

  • 15 credits
  • 30 contact hours
  • 120 independent learning hours

  Examines in depth the lifecycle of cash flow generation in shipping by covering the sale & purchase, chartering, and scrapping decisions of market participants. The module examines the duties and responsibilities of the main actors in international freight trading: the charterers, the ship-owners, the operators and the shipbrokers. It explains how owners and charterers should choose their chartering strategies and how to select between different chartering contracts. Each chartering contract entails different duties, responsibilities and obligations which are analysed in detail. The module also examines the markets for sale and purchase and scrapping and thus provides a complete overview of income generation over the lifecycle of a ship.

Option 1: elective study only by taking SMM198 Research Methods and Professional Skills* and five electives, 5 x 18 hours specialist electives of 10 credits each.

Option 2: study through a combination of a taught course and a general research project:

• SMM198 Research Methods and Professional Skills* plus 2 x 18 hours specialist electives of 10 credits; and
• One General Research Project of 30 credits and a maximum of 5,000 words.

• Research Methods and Professional Skills

  This module brings together a number of tools which will develop your research and professional skills, in the context of your studies in energy, shipping, trade and finance. You will receive training in data analysis, business and financial modelling in Excel. You will learn how to work effectively in groups and how to assess the contribution of your peers in your group assignment. You will also learn how to gather information through database research, which you will be able to use to support your learning, substantiate your arguments and make assessments about the nature of the evidence you are using. Finally, you will bring these skills together by working in small groups for the preparation and presentation of a business plan proposal.

• General Research Project

  Any business needs key research and professional skills and, to be successful, any business needs methodologically sound and rigorous research. This module allows you to demonstrate, on an individual basis, your ability to integrate and apply concepts and techniques you have learned in an in-depth study of a topic of your choice, and to organise your findings in a report. All conducted within a given time limit and a maximum of 5,000 words.

Some of our students are given the opportunity to conduct their general research projects in association with the Maritime Directorate of the UK Department for Transport (DfT) and the UK Department for Energy Security & Net Zero (DESNZ), or as part of the Maritime Masters Programme of Maritime UK and the Research Support Programme of the Bank of England and S&P Global. Upon completion, their findings are presented to senior policy makers and businessmen.

Indicative elective modules

• Fintech: Technologies and Disruptions**
• Big Data in Commercial Shipping and Trading
• Shipping Company Management
• Project Finance and Infrastructure Investment
• Introduction to Python
• Hedge Funds
• Mergers & Acquisitions
• Innovation in Shipping
• Commodity Derivatives and Trading
• Shipping Risk Management
• Trade Finance
• Green Finance, Carbon Trading and Shipping Decarbonisation.

International electives

• Project Finance and Infrastructure Investment (taught in Madrid, Spain)
• Shipping Company Management (taught in Athens Greece).

Please note that electives are subject to change and availability also depends on student’s participation.

The Michael Baker Prize*

Every year, since 2018, the Best Research Methods and Professional Skills Business Plan is awarded the Michael Baker Prize, which comes with a £4,000 cash award to the winning group and £1,000 to the runners up group.

The Captain Tasos Politis Prize**

Every year, since 2021, the Best Fintech Innovation project is awarded the Captain Tasos Politis Prize, which comes with a £1,000 cash award to the winning group of the Fintech: Technologies and Disruptions elective. A shipowner, innovator, serial entrepreneur and Piraeus patriarch, Captain Tasos Politis was a close friend to Bayes Business School, mentor and sponsor to a number of ambitious students in the UK, Europe and Greece.