| Program start date | Application deadline |
| 2023-09-01 | - |
Program Overview
Who is it for?
Choose this course if you thrive under the pressure of solving tough challenges on tight deadlines, you’re business-focused, and you’re equally capable at hands-on, practical subjects and academic theories. You’ll already have the equivalent of a UK upper second class degree, and some experience of studying finance or quantitative methods.
You’ll appreciate the value of having a respected shipping qualification that prepares you for roles from shipping finance, shipbroking to commodity trading. You’ll also relish the opportunity to make new connections with business leaders from the global shipping industry, as well as your peers from all around the world.
I liked the fact that the programme combined both shipping and finance modules and it also gives students more career opportunities as it has abundant resources and networks. I will be joining Coca Cola as a Management Trainee and I am so excited for this opportunity and my master’s course for helping me obtain this role. This programme would be an excellent choice for you to progress your career in the industry.
Huimin Hu
Objectives
On your master’s in Shipping, Trade and Finance you’ll build skills and knowledge to help you stand out in the competitive shipping industry and complementary areas of commodity trade, ship finance, banking and investment.
Your flexible course allows you to tailor your studies to your ambitions, including research projects and a wide choice of electives, covering subjects from big data and fintech in shipping to project finance or Python, with the chance to study in Greece or Madrid.
The MSc is offered through the globally-respected Costas Grammenos Centre for Shipping, Trade and Finance whose aims are to offer high-quality teaching, produce high-quality research and support international dialogue between academia, industry and government.
You’ll learn in highly interactive lectures from staff with many years of practical experience working in the shipping industry who are active researchers.
Program Outline
Structure
What will you learn
- Learn through a unique multidisciplinary approach that provides you with the skills and knowledge employers demand.
- Benefit from the insights and practical expertise of teaching staff whose research is recognised internationally.
- Study on a course that was pioneering at launch and remains unique and relevant in the current economic and financial environment. Validated by the Institute of Chartered Shipbrokers (ICS) which offers 3 exemptions from examinations upon successful completion of specific modules.
- Build your knowledge, connections and experience in the City of London, the world’s third most important maritime city (DNV/Menon Economics (2022) World Maritime Cities Ranking)
Induction weeks
All of our MSc courses start with two compulsory induction weeks which include relevant refresher courses, an introduction to the careers services and the annual careers fair.
Term 1
Accounting for Managers
- 10 credits
- 30 contact hours
- 70 independent learning hours
Introduces the principles of accounting and finance in business and the main techniques in management accounting, planning and control. Covers the interpretation and use of annual reports and accounts, financial and ratio analysis, and their use for managerial decision-making, and budgetary control systems.
Data Analytics for Energy, Shipping, Trade and Finance
- 10 Credits
- 42 contact hours
- 58 independent learning hours
This module introduces the concept of data analytics in the shipping, energy, trade, and finance sectors. In particular, it teaches you how to work efficiently with commodity, shipping, and financial data so as to make data-driven business decisions. It consists of two interrelated parts: Part 1 is Statistics and Part 2 is Data Analytics Using R.
Part 1: Statistics focuses on descriptive and inferential statistics, and univariate regression analysis.
Part 2: Data Analytics Using R focuses on how to efficiently perform data analysis using the R statistical software.
Principles of Finance
- 10 credits
- 45 contact hours
- 55 independent learning hours
Covers essential skills and knowledge in financial economics that will assist you in gaining an in-depth knowledge in the subject area as it is later taught in Corporate Finance. The aim of this module is to provide an introduction to the area of corporate finance. This will be achieved through the development of a common vocabulary and a set of tools that will assist students in gaining a basic understanding of what is corporate finance and it will lay the foundations for further study in this area.
Research Methods and Professional Skills
- 10 credits
- 45 contact hours
- 55 independent learning hours
Strong research is a key element of development strategy for companies and institutions, large and small. This module aims to provide a grounding in financial research, particularly financial modelling and information gathering which you will be able to use to support your learning on the rest of your course.
The module will utilise specific training in a financial modelling package in order to provide a strong foundation for the in-depth and specialist teaching and learning of terms two and three of your course. You will also learn how to gather information through database research, which you will be able to use to support your learning, substantiate your arguments and make assessments about the nature of the evidence you are using. Finally, you will bring these skills together by working in small groups for the preparation and presentation of a business plan proposal.Business Economics for Trade and Finance
- 10 credits
- 30 contact hours
- 70 independent learning hours
The aim of this module is to provide a practical understanding of the tools and language used by economists to analyse individual and organisational behavior (microeconomics), and the functioning of economies and networks of economies as a whole (macroeconomics). This is intended to provide you with a sound theoretical background with which to analyse and dissect real world events and interpret high level policy debates. The course is practical and applied in nature and focuses on cases that are relevant for Shipping and Commodity markets.
Shipping Economics
- 10 credits
- 30 contact hours
- 70 independent learning hours
Focuses on the operational environment of the bulk-shipping sector. Subsequently discusses extensively the microeconomic structure of the four main markets (freight, second-hand, shipbuilding and demolition) in dry bulk and tanker shipping, together with the operational characteristics, international regulations and policies which affect these highly competitive, volatile, but nevertheless exciting industries. Continues with an introduction to liner and container shipping economics and concludes with a discussion of the principles of modern supply chain logistics, of which bulk shipping forms an integral part.
Term 2
Advanced Quantitative Methods
- 10 credits
- 26 contact hours
- 74 hours independent study
Builds on the knowledge acquired in Quantitative Methods in Part one and focuses on skills required for advanced analysis in areas such as risk management and forecasting.
Corporate Finance
- 15 credits
- 30 contact hours
- 120 hours independent study
The aim of the course is to develop an understanding of modern corporate finance so that the corporate manager, the investment banker and the financial analyst will have the conceptual foundations for making informed corporate assessments of key financial decisions. Issues such as company valuation, dividend policy, raising equity and debt capital, capital structure and corporate governance are discussed in depth in class and are covered through case studies and presentations
Financial Markets
- 15 credits
- 30 contact hours
- 120 hours independent study
Covers the global economic and financial environment within which business corporations operate. Globalisation and integration of markets for debt, equity and risk management have created new opportunities in the capital formation process, but pose great difficulties in navigating successfully. Where should capital be raised? How does one manage the risks from certain currencies and certain sovereign regions?
International Commodity Trade
- 15 credits
- 30 contact hours
- 120 hours independent study
Discusses the theory and practice behind the development of modern patterns of trade, focusing on the world's major bulk commodities, such as grains, petroleum, and ferrous and non-ferrous ores. Considers in depth the distinctive microeconomic characteristics of key commodities, such as storability, perishability and seasonality; pricing mechanisms and methods of adjustment; the role derivatives in price determination; and the role of key producers and key markets in shaping market conditions.
Shipping Investment and Finance
- 20 credits
- 90 contact hours
- 110 independent learning hours
The skills developed in both Principles of Finance and Corporate Finance are applied to the shipping industry while introducing several new and important concepts to develop the ability and the analytical tools to make rational shipping investment and finance decisions. Making extensive use of case studies, areas covered include the fundamental principles of shipping investment and finance; vessel investment and disposal markets; investment feasibility studies; bank credit policy, bank credit analysis and proposals; raising equity and debt capital for shipping companies; tapping the public equity and debt markets; other sources of shipping finance such as leasing, export credit agencies and shipyard credit; and risk management in shipping.
Term 3
Option 1: Students can take five specialist elective modules (5 x 10 credits).
Option 2: Students can opt to write a 10,000-word Business Research Project (40 credits) and take one specialist elective module (1 x 10 credits).
Option 3: Students can opt to write a 5,000-word Applied Research Project (20 credits) and take three specialist elective modules (3 x 10 credits).
Business Research Project
It is important for aspiring professionals to demonstrate, on an individual basis, their ability to apply concepts and techniques they have learned in an in-depth study of a topic of their choice and to organise their findings in a report, all conducted within a given time limit. To train you to undertake individual research and provide you with an opportunity to specialise in a contemporary business or finance topic related to your future career aspirations. You are required to submit a project of approximately 10,000 words on any subject area covered in the rest of the programme. Typical projects can involve any of the following: extracting data from electronic databases or by hand; statistical analysis of large or small populations; interviews; case studies of an industry or a sector or of a business / finance issue in a particular country setting.
Applied Research Project
The aim of this module is to enable you to demonstrate how to integrate your learning in core and elective modules and then apply this to the formulation and completion of an applied research project. You will be required to demonstrate the skills and knowledge that you have acquired throughout your MSc study. You will undertake a short piece of applied research on a question of academic and/or practical relevance. Guidelines will be provided in order to help you identify the research question. Based on your chosen topic, you must write a report of around 3,000–5,000 words that summarises and critically evaluates your method and your findings.
Some of our students are given the opportunity to conduct their research projects in association with the Maritime Directorate of the UK Department for Transport (DfT), or as part of the Maritime Masters Programme of Maritime UK and the Research Support Programme of the Bank of England. Upon completion, their findings are presented to senior policy makers and businessmen.
Electives offered in 2021
- Ethics, Society and the Finance Sector
- Hedge Funds
- Intro to Python
- Mergers & Acquisitions
- Technical Analysis and Trading Systems
- VBA with Application for Finance
- Big Data in Commercial Shipping & Trading
- Business Analytics for Energy, Shipping, Trade and Finance
- Chartering
- Commodity Derivatives and Trading
- Fintech in Shipping & Energy Trade and Finance
- Innovation in Shipping
- Shipping Risk Management
- Trade Finance.
International electives
- Project Finance and Infrastructure Investment (taught in Madrid, Spain)
- Shipping Company Management (taught in Greece).
Please note that electives are subject to change and availability.
* The Captain Tasos Politis Prize
Every year, since 2021, the Best Fintech Innovation project is awarded the Captain Tasos Politis Prize, which comes with a 1,000GBP cash award to the winning group of the FinTech in Shipping and Energy Trade & Finance elective. A shipowner, innovator, serial entrepreneur and Piraeus patriarch, Captain Tasos Politis was a close friend to Bayes Business School, mentor and sponsor to a number of ambitious students in the UK, Europe and Greece.
The wide curriculum and interdisciplinary approach of your MSc opens up a broad range of global career opportunities. Students have gone on to work as shipbrokers, analysts, consultants, in investment banking and trading, and in other operational and strategic roles in more than 70 countries.
As well as support from the Bayes specialist careers team, you’ll also find support, meet mentors and make connections through the Shipping Society and the Energy and Commodity Society.
Class profiles
Recent graduates from the MSc in Shipping, Trade and Finance degree have gone on to hold roles in companies including:
- Bunker Trader - Integr8 Fuels
- Relationship Manager - Nordea
- Tanker Analyst - Howe Robinson Partners
Sale and Purchase Shipbroker- Braemar ACM Shipbroking - Ship Finance - Credit Agricole CIB.
Previous graduates have gone on to work in shipping, logistics and oil and gas and across the UK, EU and Asia.
(Data provided from alumni who completed the annual destination data survey for 2020/21 and 2019/20).
Course Director
Dr Nikos C. Papapostolou
Associate Director, The Costas Grammenos Centre for Shipping, Trade and Finance
The teaching staff on the Master's in Shipping, Trade and Finance have many years of practical experience working in the shipping industry and are also active researchers in their fields. This knowledge and experience inform the highly interactive lectures that make up the MSc in Shipping, Trade and Finance course.
Core Module Leaders include:
- Professor Costas Grammenos
- Professor Amir Alizadeh
- Dr Jay Jung
- Dr Ioannis Moutzouris
- Professor Nikos Nomikos
- Professor Keith Pilbeam
- Dr Panos Pouliasis
- Dr Anastasia Richmond
- Professor Michael Tamvakis
Bayes Business School: A Summary
Overview:
Bayes Business School, formerly known as Cass Business School, is a renowned business school located in London. It is part of City, University of London and boasts a rich history of over 50 years in business education. The school is known for its commitment to providing world-leading education and fostering a culture of "always learning."
Services Offered:
Bayes Business School offers a comprehensive range of services to its students, including:
Academic Programs:
Undergraduate, Master's, PhD, MBA, Executive Education, and Degree Apprenticeships.Student Hub:
A dedicated online platform for students to access resources and information.Alumni Network:
A strong network of graduates providing support and opportunities.Staff Hub:
A platform for staff to access resources and information.Student Life and Campus Experience:
Key Reasons to Study There:
Triple-Crown Accreditation:
Bayes Business School holds the prestigious triple-crown accreditation from AMBA, EQUIS, and AACSB, signifying its high standards of quality.Top Rankings:
Consistently ranked among the top business schools in the UK and Europe, including 2nd in London and 5th in the UK according to the Financial Times European Business Schools 2023 ranking.Global Women's Leadership Programme:
A dedicated program designed to inspire, equip, and connect women leaders.Focus on Innovation:
Encourages students to think critically and creatively about the challenges of the future.Strong Industry Connections:
Provides opportunities for students to connect with leading businesses and professionals.Academic Programs:
Bayes Business School offers a wide range of academic programs across various disciplines, including:
Undergraduate:
Bachelor's degrees in Business and Management, Finance, Accounting, and Marketing.Master's:
A variety of specialized Master's programs in areas such as Finance, Management, Marketing, and Data Analytics.PhD:
Doctoral programs in various business disciplines.MBA:
Full-time and part-time MBA programs designed to develop leadership skills and business acumen.Executive Education:
Customized programs for professionals seeking to enhance their skills and knowledge.Degree Apprenticeships:
A combination of work experience and academic study leading to a degree.Other:
Research:
Bayes Business School is known for its strong research output, with academics contributing to the advancement of knowledge in various business fields.Location:
Situated in the heart of London, providing students with access to a vibrant business environment and numerous networking opportunities.Global Reach:
The school has a strong international presence, with students and faculty from around the world.Entry requirements
- A UK upper second class degree or above, or the equivalent from an overseas institution.
- Some level of previous study in finance or quantitative methods is preferred
- Work experience is not a requirement of this course.
GMAT
- GMAT is not required for application, but may be requested as a condition of offer at the discretion of the Admissions Panel.
Interview
Applicants selected by the Admissions Panel may be invited to an online interview. We will contact all selected applicants with full instructions after the Admissions Panel has made an initial assessment of your application.
We strongly advise you to provide us with your own personal email address when applying to avoid missing interview deadlines and any important information sent from the Admissions Team.”
English language requirements
If you have been studying in the UK for the last three years it is unlikely that you will have to take an English language test.
If you have studied in the UK at degree level for less than three years (e.g. 3+1, 2+1, 2+2, etc.) you will be required to provide the results of an approved English language test and possibly resit the test to meet our academic entry requirements.
It is essential that all students have an excellent command of English as we welcome students from around 100 different nations to study with us here at Bayes. In order to participate fully in the collaborative learning process, all students who have not previously studied at degree level in a majority English-speaking country as defined by the Home Office* must sit one of the approved English language proficiency tests listed below.
*see
