Name of Professor:Prof. Theodore SYRIOPOULOS
Subject Description:
The course aims to develop the following key fields:
-explain in depth the fundamental theoretical and empirical framework for efficient shipping financial and risk management
-analyse investment, financing and business decisions in shipping and implement shipping risk management tools
-equip students with knowledge, skills and instruments that support their critical judgement for rational financial and risk management decisions and firm value enhancement in shipping.
Enable students to:
-set the background against which global shipping has grown over the last decades
-understand the fundamental characteristics of the shipping markets and the core types of shipping risks in a competitive, volatile and cyclical business environment
-evaluate alternative investment appraisal methods to shipping investment projects
-study the role and functions of global capital markets and comprehend the fund-raising process of shipping firms, including IPOs, high-yield bonds and bank lending
-explain important risk management tools in shipping business, such as Forward Freight Agreements (FFAs)
-utilize modern risk management to hedging financial risks in shipping.
Learning Outcomes:
-build a concise framework that integrates core financial decisions of the shipping firm from a theoretical and an empirical perspective
-support graduates undertake critical decisions to key fundamental issues in shipping financial and risk management
-critically evaluate sensitive shipping investment, financial and risk management decision alternatives
-familiarize and implement modern risk management techniques, to control for shipping financial risk exposures
-develop practical and integrated financial and risk managerial expertise on global shipping business.
Syllabus - Lectures Outline:
Lecture Day 1: World Economy & Shipping Market Dynamics
World Economy, International Trade & Shipping
Structure of Shipping Markets
Lecture Day 2: Shipping Markets’ Structure and Characteristics
Shipping Demand & Supply Dynamics
Characteristics & Idiosyncrasies of Shipping Markets
Lecture Day 3: Managerial Decisions in Shipping Business
Trends & Milestones in Modern Shipping
Critical Managerial Decisions in Shipping Business
Lecture Day 4: Investment Decisions in Shipping
Investment Appraisal in Shipping
Empirical Cases in Shipping Investment Decisions
Lecture Day 5: Financing Decisions in Shipping
Funding Sources & Cost of Capital in Shipping
Global Capital Markets in Shipping Finance
Bank Finance in Shipping
Lecture Day 6: Risk Management Decisions in Shipping 1
Understanding the Concept of Risk
Lecture Day 7: Risk Management Decisions in Shipping 2
Types of Risks in Shipping Business
Risk Management Process
Lecture Day 8: Risk Management Decisions in Shipping 3
Forward Financial Instruments & Shipping Derivatives (FFAs)
Hedging Freight Risk in Shipping with FFAs
Empirical Cases in Shipping Finance & Risk Management
Lecture Day 9: Written Exam Test
E-Lecture Plan on ZOOM Platform:
MONDAY, 1-MARCH, 09.00-11.20
SFRM-1 Theo SYRIOPOULOS' Zoom Meeting
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TUESDAY, 2-MARCH, 12.00-14.20
SFRM-2 Theo SYRIOPOULOS' Zoom Meeting
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WEDNESDAY, 3-MARCH, 09.00-11.20
SFRM-3 Theo SYRIOPOULOS' Zoom Meeting
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THURSDAY, 4-MARCH, 09.00-11.20
SFRM-4 Theo SYRIOPOULOS' Zoom Meeting
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FRIDAY, 5-MARCH, 09.00-11.20
SFRM-5 Theo SYRIOPOULOS' Zoom Meeting
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MONDAY, 8-MARCH, 09.00-11.20
SFRM-6 Theo SYRIOPOULOS' Zoom Meeting
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TUESDAY, 9-MARCH, 12.00-14.20
SFRM-7 Theo SYRIOPOULOS' Zoom Meeting
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WEDNESDAY, 10-MARCH, 09.00-11.20
SFRM-8 Theo SYRIOPOULOS' Zoom Meeting
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THURSDAY, 11-MARCH, 09.00-11.20
SFRM-9 Theo SYRIOPOULOS' Zoom Meeting
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FRIDAY, 12-MARCH, 09.00-11.20
SFRM-10 Theo SYRIOPOULOS' Zoom Meeting
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MONDAY, 15-MARCH (EXAM), 09.00-11.20
SFRM-11 Theo SYRIOPOULOS' Zoom Meeting (Exam)
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