Port Economics is the study of the economic decisions (and their consequences) of the users and providers of port services. A port is an "engine" for economic development by providing employment, worker incomes, business earnings and taxes for its region. The book provides a detailed discussion of types of carriers that use ports, the operation of cargo and passenger ports as well as the operation of such specific ports as Hong Kong, Hamburg, Le Havre, Savannah, Miami and Panama.
Port Economics is the first contemporary textbook of its kind. It enhances our understanding of port economics by –
- classifying port users and suppliers of port services in the context of economic demand and supply curves;
- denoting that the demand for port services has two prices, the price paid to the port by the users and the price (or actual and opportunity costs) incurred by port user carriers, shippers and passengers;
- presenting the economic theories of carriers, shippers and passengers.
The numerous up-to-date references will be of benefit to students and researchers of the economics of the shipping trade; to government officials in developing port and shipping policies; and to port operators in understanding the port-choice selection process by shipping lines and other carriers.