chapter  7
Financial Indices, Freight Markets and other Economic Matters
Pages 27

Maritime transport sector just like many other forms and areas of international commercial and economic activity has been regulated for ages. Nowadays, real activity of that global sector is subject to regulation of the complex system which consists of two independent, however different in their nature, regulatory subsystems. Each of them has its own specific characteristics. It is a public subsystem, the essence of which consists in international as well as autonomous subsystem based on freight market regulatory processes. The first one is external to the transport sector, while the second, is both external and internal, largely because one of the markets, namely freight market, is an integral element of the sector itself – it is one of its subsystems. Each of them, along with the set of regulatory tools typical for itself, affects to some degree the efficiency of the operational activity of maritime transport and its relationship with global environment. The mutual relationship between the regulatory scheme of the maritime transport sector and its subsystems, and the maritime transport real sector, is presented, in a schematic form, in fig.1.