The purpose of this updated edition is to highlight the importance of economics for maritime transportation and shipping. Through a range of 13 chapters and several sub-sections, the reader becomes familiar with significant issues of maritime economics. The book is divided into three parts.

In the first part, important introductory economic concepts are developed, such as resource allocation and production factors, opportunity cost, production and utility, etc. Furthermore, the basic techniques of studying and analyzing various diagrams are mentioned. Also, there is a significant reference to the curves of production possibilities and the analysis of mean and standard deviation for specific sea transport cargoes.

In the second part, the basic economic theory of shipping is analyzed. The most important factors that determine shipping supply and demand are recorded, based on which the price (freight) is determined in the respective shipping market. Issues of demand and supply elasticity are also studied, as well as the issue of the structure of transport costs and its importance in the structure and conduct of international maritime trade. Finally, the various structures of the shipping market (perfect and imperfect competition, monopoly, oligopoly, etc.), price discrimination issues, and profit maximization are analyzed.

In the third and final part, the most important sectors of shipping are analyzed. Specifically, the bulk cargo sector, tankers, and liner shipping. The historical evolution of these specific sectors, the long-term demand and supply, and the cost structure of each sector are recorded. Finally, a significant analysis of the port industry is carried out, which deals with issues of port investments and costs, productive capacity, optimal methods of port management, as well as the limitation of port congestion phenomenon.