[Nov 04-29] Dr. Perakis Anastassios Nicholas:Maritime Economics



Maritime Economics



Dr. Perakis Anastassios Nicholas,University of Michigan



8:20 am. -11:00am, Nov. 4th-Nov. 29th,  2019, Monday -Friday



Rm. 109, College of Transport and Communications




Course Syllabus,   No. of 1 hour Lectures  


1. Introduction, Mechanics, the marine industry (overview), eng. economics 6

2. Structural analysis of industries, (case study), application in marine field 2

3. Management attitudes toward risk, utility theory 7

4. Sea transport and the global economy 2

5. Shipping market economics, supply, demand and freight rates. 5

6. The four shipping markets 3

7. Shipping company economics, costs, financing and risks. 4

8. Elements of international trade and shipping 7

9. International Trade theory, supply-demand, tariffs, quotas, other barriers 5

10. Cartels; OPEC and tanker Shipping; Cynia Oil co. Case Study 4

11. Liner shipping; Conferences, Rate formation in Conference Shipping 7

12. Freight rates; Worldscale; Marine Insurance; UNCTAD/IMO 3

13. A rational, 8-step Marine forecasting procedure; problems, case studies 4

14. Midterm Exam 2

15. Final Exam 3  

Total 64





A. Personal


A.1 Name: Anastassios Nicholas Perakis


A.2 Degrees:


Diploma    National Technical University of Athens, June 1977, Naval Architecture, Marine and Mechanical Engineering

S.M.          Massachusetts Institute of Technology,  1980, Ocean Engineering

S.M.          Massachusetts Institute of Technology,  1980, Operations Research

S.M.          Sloan School of Management, M.I.T., June 1982, Management (M.B.A.)

Ph.D.        Massachusetts Institute of Technology, June 1982, Ocean Engineering, title:  "Resource Allocation in Target Tracking Using New Ocean Acoustic  Detection Models," (Advisor: Prof. H.N. Psaraftis)


A.3 Positions at U. of M.:


1988-           Tenured Associate Professor, Naval Architecture and Marine Engineering, University of Michigan

1982-1988    Assistant Professor, Naval Architecture and Marine Engineering, University of Michigan

1989-2002    Associate Research Scientist, University of Michigan, Transportation Research Institute


A.4 Positions at Other Organizations:


2010-Fall         Hellenic Institute of Maritime Research (ELKETHE) Greece, Sabbatical

2011,  also 2012-Summer (June 1 – Aug 30),  as above, Visiting Professor.

2003-Summer   Office of Naval Research Distinguished Faculty Fellow, NSWC, Carderock, MD, 5/18/03-6/15/03 and 8/12/03-9/19/03 (10 weeks total)

2003-Summer   The Boeing Company Welliver Faculty Fellow, 6/23-8/1/2003.

2003 –Fall         Sabbatical, National Technical University, Athens, Greece, Dept. of Naval Architecture and Marine Engineering.

1999-Summer   Visiting (Guest) Professor (Gastprofessor), Technische Universitaet Berlin, Institut fuer Schiffs-und Meerestechnik, Berlin, Germany.

1996-Winter      Sabbatical, Univ. of Piraeus, Dept. of Maritime Studies. (also Dept. of Industrial and Operations Engineering).

1991 Spring/     Visiting Professor, Navigation Dept., Institute of Water Resources,              Summer Ft. Belvoir, VA.

1989 Fall           Visiting Professor, National Technical University of Athens, Greece, Department of Naval Architecture and Marine Engineering.  

1988-Summer  Visiting (Guest) Professor (Gastprofessor), Technische Universitaet         Berlin, Institut fuer Schiffs-und Meerestechnik, Berlin, West Germany.     

1977-1982         Research Assistant, Department of Ocean Engineering, Massachusetts         Institute of Technology, Cambridge, MA.


B.        Honors and Awards:


·Lloyd's Register Educational Trust, Maritime Technology Student of the year Award, 2009, Faculty Advisor (2nd place Award) Sponsored by Lloyd's and the Society of Naval Architects and Marine Engineers.


·Faculty Fellow, Michigan Memorial Phoenix Energy Institute, Elected May 2008

·Fellow, The Society of Naval Architects and Marine Engineers, Elected fall 2003

·Office of Naval Research Distinguished Faculty Fellow, 2003

·The Boeing Company Welliver Faculty Fellow, 2003

·Elected to a 3-year term as a Fellow, College of Engineering Institute of Environmental Science and Technology, March 1998

·Certificate of Appreciation, National Defense Science and Engineering Graduate Fellowship Program, February 1998

·Commemorative recognition for serving as chair in Naval Arch. and Ocean Engineering, Natl. Sci.    and Eng. Grad. Fellow Program, 1998

·NSDEG "Oak Leaf Cluster" recognition for serving twice as chair in Naval Arch. and Ocean Engineering," Natl. Defense Science and Engineering Graduate Fellow Program, 1999

·"Advice" Honors List, UM-Teaching, winter 1992

·Certificate of Appreciation, The Society of Automotive Engineers, Annual Meeting, Detroit, MI, 1995

·US Army Corps of Engineers Recognition Certificate, 1991

·Recognition Award, Hellenic Council on Education, Chicago, Ill., May 1991 (awarded to U.S. university professor of Greek descent)

·Class of 1938E Distinguished Service Award, College of Engineering, University of Michigan, 1987

·Sigma Xi Honorary Society, 1982

·Greek Government Scholarship recipient, NTU of Athens, 1972-1977




The day after obtaining my Ph.D. degree from MIT in June 1982 and the two-year Masters in Management degree (MBA) from the Sloan School, also in June 1982, I interviewed with the Department of Naval Architecture and Marine Engineering (NA & ME) at the University of Michigan and was offered and accepted the position of a tenure-track assistant professor, replacing Prof. Harry Benford (December 1982). In May 1988 I was promoted to tenured associate professor. My goals when I started at the University were to take advantage of my considerable preparation from MIT to:


a)Modernize and rationalize the field of maritime management from a mostly empirical one, applying basic engineering economics techniques, to one using the tools of the fields of Operations Research, Systems Reliability, and Probability and Random Processes, and solve optimally or near optimally problems that have been only briefly addressed (and sometimes incorrectly) before; and other, much more complex problems, whose solution had not even been attempted before, due to their difficulty and complexity.

b)Publish my research at the top and flagship journals of the field, and also use it to obtain funding in these areas, that has been traditionally very hard to come by in the US;

c)Educate the next generations of top US engineers by teaching them ‘how to think’, rather than emphasize empirical practical facts that will be obsolete in a few decades, and,

d)Actively and in various capacities serve my department, the College of Engineering, the University, and the nation as a whole through multiple activities in professional and government organizations.



In teaching, I am planning to continue and improve on what I have built over more than two decades. The new probability, statistics and random process course at the center of my interest will be offered to NA & ME students in winter 2006 and will be developed aiming to be taken by CEE and other engineering students.


In NA & ME, I will actively campaign for the retention and the expansion of the Maritime Management and Optimization courses in the curriculum. Currently there are only two graduate courses, NA582, a very successful Reliability and Safety Analysis course, and NA580, a technical elective course in maritime management, forecasting and optimization. I have proposed to develop NA480-Maritime Economics and Shipping Finance to cover an area not available in our BSE program.


I also plan to continue my multiple and multi-faceted service activities both in the College of Engineering, as a long-term member of the Manufacturing Council, the university, and the state. This May 2005 I participated in the Michigan Road Scholars Tour, where we toured the state for five days and met with several constituents, including recent UM scholarship recipients and government representatives, and investigated areas of appropriate UM Outreach research.