Table of Contents

International Handbook of Maritime Economics

International Handbook of Maritime Economics

Elgar original reference

Edited by Kevin Cullinane

This timely and comprehensive new Handbook brings together an unrivalled group of distinguished scholars and practitioners to provide in-depth analysis and a contemporary perspective on a wide-ranging array of topics in maritime economics.

Chapter 1: Editor’s Introduction: We Never Know the Worth of Water Till the Well is Dry

Kevin Cullinane

Subjects: economics and finance, transport, environment, transport, urban and regional studies, transport


1 Kevin Cullinane There can be no doubt that the discipline of maritime economics has undergone rapid and dramatic development in recent years. This is in part a reflection of the ongoing dynamics of the maritime industry itself, as manifest in the pivotal changes that have occurred with respect to: ● ● ● ● ● ● ● the globalization of manufacturing and the changes in trade patterns this has induced; the increasingly dominant role within the sector played by containerized transport; the greater industrial concentration and wider geographical coverage of both shipping companies and port operations; the deployment of larger containerships and associated adoption of hub-and-spoke operations; the worldwide proliferation of devolved port governance systems with greater private sector participation; the increasing importance attached to safety, security and the environment; and the continuing shift in the maritime nexus towards Asia and away from Europe. Of particular relevance are those dynamics that have prompted the emergence of new perspectives on the sector; initially as an important element of international logistics, and more latterly as an integral component in, and contributor to, global supply chains. This realignment of perspective has led, inter alia, to the emergence of new thinking on the nature of both the hinterland and network concepts as applied to the maritime context and to the joint and separate impact of each on the competitiveness of maritime entities. This altered landscape is mirrored by equally significant changes in what today constitutes the maritime economics community. As reflected in the membership of the International Association of Maritime Economists,...