Shipping, Trade and Finance MSc
Key information
Duration: 12 months
Attendance mode: Full-time
Location: Bunhill Row
Start of programme: September 2025
Application deadline: Rolling applications
Entry year: Showing course information for 2025
Offered through the globally-respected Costas Grammenos Centre for Shipping, Trade and Finance
Overview
Shipping, Trade and Finance MSc Who is it for?
Choose this course if you thrive under the pressure of solving tough challenges on tight deadlines, you are business-focused, and you are equally capable at hands-on, practical subjects and academic theories. You will already have the equivalent of a UK upper-second class degree and preferably, but not necessarily, some experience of studying finance or quantitative related modules.
You will appreciate the value of having a qualification – equally respected by academia and the industry – that prepares you for roles from shipping finance and shipbroking to commodity trading. You will also relish the opportunity to make new connections with business leaders from the global shipping industry, as well as your peers from all around the world.
Why choose this course?
Become part of the globally-respected Costas Grammenos Centre for Shipping, Trade and Finance, who aim to: offer high-quality teaching; produce high-quality research; and support international dialogue between academia, industry and government.
Design your third term to meet your career goals and with a wide choice of specialist electives including Big Data in Commercial Shipping and Trading; Commodity Derivatives and Trading; Green Finance, Carbon Trading and Shipping Decarbonisation.
Guest industry practitioners deliver some of our modules and will share topical industry insight and expertise.
Opportunity to collaborate with the industry on your research project; previous students have conducted their projects in association with the Bank of England, S&P Global, the Maritime Directorate of the UK Department for Transport (DfT) and the UK Department for Energy Security and Net Zero (DESNZ).
Attend guest speeches, career and networking events, by leading companies in the fields of shipping, commodity trading and finance. We regularly host successful alumni at Bayes who deliver presentations and advise our current students.
Course objectives
On your master’s in Shipping, Trade and Finance you will build skills and knowledge to help you stand out in the competitive shipping industry and complementary areas of commodity trade, ship finance, banking and investment.
Your flexible course allows you to tailor your studies to your ambitions, including research projects and a wide choice of electives, covering subjects from big data in shipping and fintech to project finance and Python, with the chance to study in Greece or Madrid.
The MSc is offered through the globally-respected Costas Grammenos Centre for Shipping, Trade and Finance whose aims are to offer high-quality teaching, produce high-quality research and support international dialogue between academia, industry and government.
You will learn in highly interactive lectures from academic staff with many years of experience who are active researchers, and from practitioners who are leaders in the industries relevant to the degree.
"I liked the fact that the programme combined both shipping and finance modules and it also gives students more career opportunities as it has abundant resources and networks. I will be joining Coca Cola as a Management Trainee and I am so excited for this opportunity and my master’s course for helping me obtain this role. This programme would be an excellent choice for you to progress your career in the industry."
- Huimin Hu (Shipping, Trade and Finance, 2019), Associate Customer Marketing Manager, The Coca-Cola Company
Teaching staff
Dr Nikos C. Papapostolou
The teaching staff on the Master's in Shipping, Trade and Finance includes academic staff with many years of experience who are active researchers, and practitioners who are leaders in the industries relevant to the degree.
This knowledge and experience inform the highly interactive lectures that make up the MSc in Shipping, Trade and Finance course.
Core module leaders:
- Professor Costas Grammenos
- Professor Amir Alizadeh
- Dr Jay Jung
- Dr Ioannis Moutzouris
- Professor Nikos Nomikos
- Dr Panos Pouliasis
- Dr Anastasia Richmond
- Professor Michael Tamvakis.
For a list of Visiting Professors, Fellows and Lecturers, and Guest Lecture Speakers please visit The Costas Grammenos Centre for Shipping, Trade and Finance.
Accreditation details
The MSc in Shipping, Trade and Finance is validated by the Institute of Chartered Shipbrokers (ICS)
Students successful in the following modules:
- International Commodity Trade
- Shipping Economics
- Shipping Investment and Finance.
will be granted exemption from three of the following examinations of the Institute of Chartered Shipbrokers:
- Economics of Sea Transport and International Trade
- Introduction to Shipping
- Shipping Finance.
Course content
Learn through a unique multidisciplinary approach that provides you with the skills and knowledge employers demand.
Benefit from the knowledge, practical expertise, and insights of internationally recognised academic staff and from practitioners (mostly graduates of our MSc Programme) who hold leading roles in their areas of expertise.
Study on a course that was pioneering at launch and remains unique and relevant in the current economic and financial environment, and the shipping industry.
Validated by the Institute of Chartered Shipbrokers (ICS) which offers 3 exemptions from examinations upon successful completion of specific modules.
Course structure
Programme content is subject to change. We regularly review our module offering and amend to keep up to date and relevant.
Induction weeks
All of our MSc courses start with two compulsory induction weeks which include relevant refresher courses on economics and mathematics, an introduction to the careers services and the annual careers fair. Pre-study material (notes and videos) on mathematics and statistics are also provided to our students during the summer period to refresh their knowledge on the specific topics.
Term 1
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.
Term 2
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.
Term 3
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.
Download course specification:
Shipping, Trade and Finance MSc [PDF]Assessment methods
Term dates
Term dates 2025/26
- Induction: 15th September 2025 - 26th September 2025
- Term one: 29th September 2025 - 12th December 2025
- Term one exams: 5th January 2026 - 16th January 2026
- Term two: 19th January 2026 - 3rd April 2026
- Term two exams: 20th April 2026 - 1st May 2026
- Term three - international electives: 4th May 2026 - 15th May 2026
- Term three: 18th May 2026 - 3rd July 2026
- Term three exams: 6th July 2026 - 17th July 2026
- Resits: 10th August 2026 - 21st August 2026
- Additional resit week - tests only: 24th August 2026 - 28th August 2026.
Timetables
Course timetables are normally available from July and can be accessed from our timetabling pages. These pages also provide timetables for the current academic year, though this information should be viewed as indicative and details may vary from year to year.
Please note that all academic timetables are subject to change.
Fees & funding
UK/Home/International fee
September 2025 entry
£31,000
Full-time MSc
Tuition fees are subject to annual change.
Deposit: £2,000 (usually paid within 1 month of receiving offer and non-refundable unless conditions of offer are not met).
First installment: Half fees less deposit (payable during on-line registration which should be completed at least 5 days before the start of the induction period).
Second installment: Half fees (paid in January following start of course).
Scholarships & bursaries
Scholarships, sponsorships, loans and other funding could support your education at Bayes Business School.
Learn about the cost of living as a Bayes student in London.
Scholarships
Apply for a choice of scholarships, available for excellent students in financial need: the Stelios Scholarship, the Clélia Haji-Ioannou Scholarships, the Deval Family Scholarship, the Navarino Scholarship, the Stamatia Michael Xylas (SMX) Scholarship and the and the Global Ship Lease Scholarship for Women in Shipping are offered to Shipping, Trade and Finance students.
Shipping students may also be interested in the George and Victoria Karelias Public Benefit Foundation Scholarship offered by the Karelias Foundation
View our scholarships and fundingOther funding opportunities
Scholarships are very competitive, you may wish to look other options for funding, including the government PG Loan.
View other funding optionsSponsorship
Students on the course who are sponsored in full or in part by their employer will need to complete a sponsorship form as part of the application process.
View our sponsorship guidanceCareers
Over the past 12 months, our MSc Shipping, Trade & Finance students have had the opportunity to attend sessions such as industry overviews by a leading finance training provider and an annual alumni panel, offering insights into the diverse career paths available.
Supported by both the Careers Department and The Costas Grammenos Centre for Shipping, Trade & Finance, students benefit from access to a wide range of guest speakers, many of whom are alumni.
They also have opportunities to engage with industry professionals through the annual careers fair and corporate events, including workshops, business simulations, company presentations, and industry talks. Employers involved over the past year include Clarksons, Trafigura, Braemar, and ExxonMobil.
Class of 2023
Recent graduates have secured positions such as:
- Handymax/Supramax Broker
- Sale and Purchase Broker
- Junior Tanker Broker
- Chartering Operator
- Bunker Operator
- LNG Trading, Commercial Operations and Shipping
- Credit Analyst
- Trading Analyst
- Shipping Research Analyst
(Data provided from the September 2023 exit survey conducted by The Costas Grammenos Centre for Shipping, Trade and Finance).
Download our latest MSc Employment Report
Dedicated to your success
From the moment you accept your offer, you'll have access to our dedicated Postgraduate Careers Service, tailored to support your career journey.
Our Career Accelerator module, launched over the summer, provides early access to valuable resources, employer insights, and career planning tools to prepare you for the job market.
Our expert Postgraduate Careers Team, made up of experienced recruiters and career coaches offers personalised one-to-one guidance, covering everything from networking and CV building to job offer management and mock interviews.
Whether you’re pursuing a new career path, seeking an entry-level role, or launching your own business, you'll receive support to develop the skills and knowledge needed to succeed.
You'll also benefit from exclusive events such as Careers Fairs, panel discussions, and networking opportunities with industry professionals and alumni, helping you explore career options and make valuable connections.
Workshops led by our Careers Team and industry experts cover essential professional skills, including presentation techniques, personal branding, and assessment centre success, ensuring you stand out in the job market.
Additionally, Bayes Careers Online (BCO) offers career planning tools, guidance leaflets, access to job postings directly from employers and key career events, helping you stay on track with your career goals.
You’ll be supported on your way by our careers team and benefit from the connections we offer with business and industry.
Recent employers
Alumni stories
Entry requirements
- A UK upper second class degree or above, or the equivalent from an overseas institution
- Some level of previous study in finance or quantitative methods is preferred
- Work experience is not a requirement of this course.
GMAT
- GMAT is not required for application, but may be requested as a condition of offer at the discretion of the Admissions Panel.
Interview
Applicants selected by the Admissions Panel may be invited to an online interview. We will contact all selected applicants with full instructions after the Admissions Panel has made an initial assessment of your application.
We strongly advise you to provide us with your own personal email address when applying to avoid missing interview deadlines and any important information sent from the Admissions Team.
English language requirements
If you have been studying in the UK for the last three years it is unlikely that you will have to take an English language test.
If you have studied in the UK at degree level for less than three years (e.g. 3+1, 2+1, 2+2, etc.) you will be required to provide the results of an approved English language test and possibly resit the test to meet our academic entry requirements.
Full list of approved English language tests/qualifications and minimum requirements.
Apply
Please see our Application Guide for details of the documents you will need to supply as part of your application, and other useful information.
We cannot comment on individual eligibility before you apply. We can only make a decision on your application once it is fully complete, with all requested information received.
Frequently asked questionsApply for September 2025 entry
We only accept online applications.
Individual Appointments
If you would like to arrange an individual appointment to discuss the application process and be given a tour of the facilities, please complete this form.
Please note - these are subject to availability.
Terms and conditions
Students applying to study at Bayes Business School are subject to City, University of London's terms and conditions.
Student life
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London is ranked first as 'Best Student City' in the world to study in (QS, 2025).
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