留学生航运经济论文 [4]
论文作者:英语论文论文属性:作业 Assignment登出时间:2014-09-15编辑:yangcheng点击率:10592
论文字数:6783论文编号:org201409072324565489语种:英语 English地区:美国价格:免费论文
关键词:Shipping Services航运服务世界经济国际贸易
摘要:本文是一篇关于Shipping Services的留学生作业,旨在分析航运服务的特点,海上货物流动是许多国家的经济命脉。这是因为地球表面约四分之三的地方被水覆盖,因此航运股在世界贸易中有着重要作用。
y when ship-owners make a lot of money in a buoyant market they start placing orders for new buildings. These new buildings are usually delivered when the market is in a slump which further depresses the market. At this stage the owners don’t place any more orders with the yards and they too run out of business. So the delays in the time taken between placing new building orders and the arrival of new vessels also cause ups and downs in the cycle.
3.1.3 Stockbuilding
During an economic downturn manufacturers reduce their inventories and this further depresses the demand for shipping. However when the economy shows signs of recovery, there is a rapid increase in the demand for sea transport as manufactures increase stocks. This leads to a sudden and explosive boom period for the shipping industry. An example would be the crude oil tanker boom in 1979 caused by an increase in stocking of oil.
3.1.4 Mass
Psychology
Following the herd attitude can also give rise to sharp fluctuations in the economy. This is clearly notable in the stock markets and financial markets where investors can sell and buy stocks or enter and exit financial markets purely on account of pessimism and optimism. When this action happens in short periods and in large quantities it can give rise to large economic fluctuations.
3.1.5 Random shocks
These events stand alone and are not like cycles. They can be for example changes in weather and wars which can have a profound effect on the demand for shipping. The recent sub prime mortgage crisis in the USA which caused one of the worse recessions in container shipping in 2008-2009 is such an example.
3.2 The trade elasticity of the world economy
Trade elasticity = % growth of sea trade / % growth in industrial production
“For most of the last 30 years the trade elasticity has been positive, averaging 1.4. Sea trade grew 40% faster than world industry” (Stopford, 2003). Trade elasticity of different regions will change on account of following reasons. Firstly over a period of time the source of domestic raw materials begin to get exhausted and then countries have to start importing from other countries. Sometimes this happens also because domestically produced goods are inferior to those imported and moreover the cost of sea transport is also cheaper. Secondly as economies become very developed they begin to import less of raw materials as their activity tends to become less resource intensive and more service oriented. Last but not the least over time some countries loose their economic importance whereas others gain in economic importance. For example in the 1960s steel mills in Europe started importing iron ore from abroad.
3.3 The nature of seaborne commodity trades
Firstly seasonality of trades causes short term volatility. Due to the seasonal nature of some of the agricultural commodities it is difficult for shippers to plan ahead their transport requirements and hence they prefer to work more the spot markets which tend to be more volatile and instable. Example is the grain trade (exports) from the US Gulf. Another example is the increase in demand for oil in Europe in winter time. Secondly trade patterns change with changes in the source of supply. When local sources are depleted then countries have to rely on imports and this affects the demand for sea trans
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