ABSTRACT
The historical process is dynamic, and the changes that occurred during the course of world shipping in the past century, embedded some of the structures of the nineteenth century. The methodological tools of a historian and an economist will be used in this chapter, tracing continuity and change in the twentieth century shipping by examining maritime business at a macro-and micro level. At the core of the analysis lies the shipping fi rm, the micro-level, which helps us understand the changes in world shipping, the macro-level.
