For 5000 years shipping has served the world economy and today it provides a sophisticated transport service to every part of the globe. Yet despite its economic complexity, shipping retains much of the competitive cut and thrust of the #perfect# market of classical economics. This blend of sophisticated logistics and larger than life entrepreneurs makes it a unique case study of classical economics in a modern setting.The enlarged and substantially rewritten Maritime Economics uses historical and theoretical analysis as the framework for a practical explanation of how shipping works today. Whilst retaining the structure of the second edition, its scope is widened to include: - Lessons from 5000 years of commercial shipping history - Shipping cycles back to 1741, with a year by year commentary - Updated chapters on markets; shipping costs; accounts; ship finance and a new chapter on the return on capital - New chapters on the geography of sea trade; trade theory and specialised cargoes - Updated chapters on the merchant fleet shipbuilding, recycling and the regulatory regime - A much revised chapter on the challenges and pitfalls of forecasting With over 800 pages, 200 illustrations, maps, technical drawings and tables Maritime Economics is the shipping industry#s most comprehensive text and reference source, whilst remaining as one reviewer put it #a very readable book#. Martin Stopford has enjoyed a distinguished career in the shipping industry as Director of Business Development with British Shipbuilders, Global Shipping Economist with the Chase Manhattan Bank N.A., Chief Executive of Lloyds Maritime Information Services; Managing Director of Clarkson Research Services and an executive Director of Clarksons PLC. He lectures regularly at Cambridge Academy of Transport and is a Visiting Professor at Cass Business School, Dalian Maritime University and Copenhagen Business School.