Year 1, Semester 1
SHP111 - Introduction to Shipping
6 ECTS
Introduces fundamental maritime principles, examining cargo types, vessel classifications, industry players, global shipping geography, seaborne trade routes, and supply chain integration.
SHP112 - Economics
6 ECTS
Covers micro- and macroeconomic fundamentals, enabling students to analyse economies critically using descriptive and graphical analytical methods.
SHP113 - Mathematics
6 ECTS
Provides foundational knowledge in linear algebra, functions, equations, matrix algebra, derivatives, and integrals.
SHP114 - Statistics
6 ECTS
The course provides a comprehensive introduction to statistical concepts and methodologies, with a specific focus on applications in the shipping industry. Students learn to apply statistical techniques using SPSS software, covering the fundamentals of data collection, descriptive and inferential statistics, probability, hypothesis testing, and more, equipping them with the skills to analyse and interpret data effectively. Practical laboratory sessions using SPSS reinforce theoretical knowledge and provide hands-on experience with the software.
LCE103 - English for Shipping I
6 ECTS
Develops communication at the B1–B2 level of the Common European Framework through specialised shipping materials, listening, note-taking, and collaborative group work on industry-relevant topics.
Year 1, Semester 2
SHP121 - Ship Technology
6 ECTS
Explains technical characteristics, construction materials, vessel design, basic shipbuilding markets, ship equipment, hydrodynamics, and hull construction.
SHP122 - Maritime Economics
6 ECTS
Analyses economic structures, dry bulk and liner economics, supply and demand forces, freight rate cyclicality, ship price volatility, and the four maritime markets.
SHP123 - Mathematics for Shipping
6 ECTS
Reinforces mathematical knowledge with applications to shipping, covering linear algebra, partial derivatives, integration, differential equations, and function approximation.
SHP124 - Statistics for Shipping
6 ECTS
Strengthens statistical competence with advanced tools for shipping applications, including time series analysis and statistical software packages.
LCE104 - English for Shipping II
6 ECTS
Advances communication to the B2 level, emphasising the production of specialised texts (correspondence, safety reports, chartering documents) and developing 21st-century transferable skills.
Year 2, Semester 3
SHP231 - International Trade
6 ECTS
This module provides students with a thorough understanding of the theory and the empirics of international trade with focus on shipping industry. You will study the theory of trade, incoterms, freight forwarding, functions of Bill of Lading and procedures needed to make an order for transportation in liner shipping market. The module also differentiates road than maritime transport and explains the contracts used in each market.
SHP232 - International Maritime Conventions and Regulations
6 ECTS
This course provides a comprehensive overview of the international legal and institutional framework of shipping, within the broader context of global sustainability governance. It starts with UNCLOS (1982) as the legal foundation for maritime jurisdiction, resource management, and environmental protection, then examines the principal conventions of the IMO, ILO, and other UN bodies governing safety, security, labour, and environmental compliance in international shipping, with particular attention to SOLAS, MARPOL, STCW, MLC, and ISPS, as well as environmental instruments covering marine pollution, ballast water, antifouling systems, oil spill preparedness, hazardous substances, and ship recycling. These conventions are placed within the evolution of global sustainability policy, from the 1972 Stockholm Conference and the 1987 Brundtland Report to the Rio Earth Summits and the 2015 UN SDGs. The course highlights the interconnected character of all seventeen Goals as reflected in maritime activity and regulation, and builds a systemic understanding of how maritime governance supports the transition to a resilient, circular, and inclusive blue economy.
SHP233 - Port Economics
6 ECTS
Covers port economics, port governance, supply and demand, and port financing methods.
SHP234 - Maritime Accounting
6 ECTS
The module aims to assist students to understand the general principles of accounting which are applied to the shipping industry. Modern principles of accounting are to be applied for understanding the double entry bookkeeping function in the recording of shipping transactions. The application of accounting equation in shipping transactions is of outmost importance in ensuring that financial transactions are correctly recorded. Importance is given on the right preparation of financial statements (balance sheet, income statement, cash flow statement, etc). Also, students are to be helped in learning the types of costs, assets and liabilities identified in the shipping industry, to know how to record a debit and credit transaction. Using important financial information from the financial statements, students would be able to compute financial ratios for assessing operational and financial risk, profitability, liquidity, growth prospects, solvency, and other important financial metrics. This enables students to assess the financial viability of investing in a shipping company.
SHP235 - Business Logistics
6 ECTS
This course provides a comprehensive introduction to Business Logistics, examining its strategic role within supply chain management and modern business operations. Students gain an understanding of the core logistics functions, including transportation, inventory management, warehouse operations, international logistics, and logistics information systems, while developing familiarity with the tools and techniques used to improve operational efficiency and effectiveness. The course also addresses key contemporary issues such as sustainability, risk management, cost and performance measurement, digitalization, and the impact of emerging technologies on logistics operations. Through case studies, business simulations, and practical applications based on real-world scenarios, students develop analytical and decision-making skills for addressing the challenges faced by today's logistics organizations.
Year 2, Semester 4
SHP241 - Ship Management
6 ECTS
Covers shipping management, with focus on core management functions in the commercial maritime industry and the relationships between the stakeholders involved in ship operations.
SHP242 - Marine Insurance, General Average and Claims
6 ECTS
This module deals with the principles of marine insurance. The aim of this module is to provide the essential fundamental knowledge of the law and principles of marine insurance and to introduce students to marine insurance practice. This module will examine in depth the Marine Insurance Act, 1906 and the main differences with the Insurance Act of 2015 (with regards to avoidance and warranties). It also examines important issues related the formation of a marine insurance contract (including utmost good faith, the duty of disclosure and insurable interest), the main contractual parties, the various risks covered and excluded perils, the Mechanisms and the Operation of the Institute's Time Clauses (Hulls) Institute Cargo Clauses and the P & I Clubs. The module also covers such as the rule of proximate cause, assignment, the various forms of loss that a shipowner or cargo owner might suffer (including partial and total loss, constructive total loss and the effect of abandonment), salvage, sue and labour charges, subrogation and contribution, 3rd party liability and general average.
SHP243 - Supply Chain Management
6 ECTS
This course provides a comprehensive and systematic foundation in Supply Chain Management, focusing on the principles, processes, and strategies that underpin the design, coordination, and management of modern supply chains. Students become familiar with procurement management, Supplier Relationship Management (SRM), strategic make-or-buy decisions, and contemporary supply chain approaches such as the SCOR model, Lean Production, and Just-in-Time (JIT) systems. The course also examines demand forecasting, supply chain risk management, performance measurement and evaluation, sustainability, and Industry 4.0 applications. Through case studies, business simulations, and practical exercises, students develop the analytical, managerial, and problem-solving skills required to design, improve, and make informed decisions in increasingly complex and dynamic supply chain environments.
SHP244 - Freight Transport Planning
6 ECTS
This module provides an overview of freight transport operations and the design and management of modern supply chains. It reviews optimization and modeling tools used by practitioners in freight transportation planning. Topics covered include Understand fundamental concepts and principles of freight transport and logistics Knowing technical aspects of route planning, vehicle routing and transport allocation problems To optimize the trade-offs encountered in logistics systems and to develop necessary analytical methods to establish a minimum cost highest quality of service To demonstrate the ability to use management science, probability and statistics knowledge to make long, medium and short term decisions regarding logistic system design, inventory management, warehouse design and operations, facility locations and freight transport
SHP245 - Sustainability and Green Shipping Management
6 ECTS
This module explores current environmental issues in maritime transport. It presents the regulatory challenges that the sector is facing, and the main avenues to achieve the targets set by the IMO, the EU, and other regional regulators. The main technological, operational, and market-based measures to reduce emissions from shipping are thoroughly presented. Topics covered include Understand in detail existing and upcoming environmental regulations Effects of different environmental regulations on the different shipping markets The role of port operations, and green port management Presentation of low/zero carbon emission fuels, and their challenges in bunkering and supply chains
Year 3, Semester 5
SHP351 - State Maritime Policy and Strategy
6 ECTS
This module covers state maritime strategy and policy at international, European, and national levels. It covers the role of the IMO, National Maritime Transport Policies and their alignment with the UN SDGs, and Port State Control enforcement through the Paris and Tokyo MoUs. At the EU level, the course addresses the Integrated Maritime Policy, Blue Growth, Maritime Spatial Planning, sea basin strategies, and marine data governance. Climate governance frameworks, market-based mechanisms, and ESG reporting obligations under the CSRD and EU Taxonomy are covered as policy instruments shaping flag state competition and access to capital. Cyprus maritime strategy is also covered, including the ship registry, parallel registration, the tonnage tax system, attracting shipping companies and ancillary services, and the Limassol maritime cluster within the blue economy.
SHP352 - Mathematical Programming for Shipping
6 ECTS
Introduce concepts, modeling and solution methods of (un)constrained optimization. Topics include building a mathematical model, linear programing, solution with graphic method, the simplex method, duality theory, and decomposition principles.
SHP353 - Carriage of Goods by Sea
6 ECTS
This module deals with the basic principles of maritime law and emphasizes on the carriage of goods by sea and the different types of charterparties, the law surrounding that and the obligations and responsibilities of the chain of parties relating to the carriage of goods by sea. Students gain an understanding of how carriage of goods works in practice and the legal characteristics of carriage contracts.
SHP354 - Shipping Operations Management
6 ECTS
This module focuses on the management functions pertaining to the operation of ships and the activities/inter-relationships of the various stakeholders associated with it. The aim of this course is to familiarize students with the concepts and techniques for effective ship operations management.
SHP355 - Research Methods for Shipping I
6 ECTS
Covers research methodology, including core concepts in quantitative and qualitative methods.
Year 3, Semester 6
SHP361 - Shipping Finance
6 ECTS
Covers shipping finance in both its theoretical and practical dimensions. Examines financing sources, the impact of capital structure on shipping companies, and how to evaluate different financial sources effectively.
SHP362 - Dry Cargo Chartering
6 ECTS
Chartering is at the core of the business of shipowning and ship operation and represents a fundamental service provided to cargo owners. Over the last years chartering in the dry bulk markets has developed and evolved into a more formalized activity requiring conformance to commercial, financial, managerial and legal aspects that will in turn determine success in successfully negotiating fixtures, agreeing charter party contracts and concluding chartering business including undertaking post-fixture work. This course aims at providing a good understanding of chartering practice including the process in the negotiations and chartering of merchant ships, the analysis of various voyage and time charter party forms, calculation of laytime and demurrage, the estimation of profit and loss related to specific fixtures (voyage estimating) and the analysis of important charter party clauses in the dry bulk chartering markets. Overall the course provides the context and information required to initiate, negotiate, assess, agree and execute a successful charter party contract in the dry bulk markets.
SHP363 - Optimization in Shipping and Logistics
6 ECTS
This module explores optimization problems in shipping and port operations. A solid background in operations research is required, and particularly in building mathematical models that represent the real-world problem to be solved. The course will present the main types of optimization problems in shipping. As most are related to cost minimization or profit maximization, and thus depend on fuel costs, most problems are non-linear. Topics covered include Formulating the objective function of the problem at hand Understanding the importance of constraints Linearization of non-linear and convex functions Solving a mathematical model in a commercial solver (Excel Solver, GAMS, CPLEX)
SHP364 - Maritime Law
6 ECTS
This module deals with the basic principles of maritime law and emphasizes on how the law operates in relation to specific maritime issues, such as shipping contracts, ship registration, insurance, admiralty practice, ship arrest and commercial arbitration. It also covers further concepts of shipping law such as maritime liens, mortgages, general average, salvage, and collisions. Students develop legal reasoning skills applied to maritime disputes and claims.
SHP365 - Research Methods for Shipping ΙΙ
6 ECTS
Covers multivariate data analysis techniques used in quantitative and qualitative research.
Year 4, Semester 7
SHP471 - Shipping Investments
6 ECTS
Introduces investment fundamentals and their unique characteristics in shipping. Teaches evaluation using discounted cash flow methods, payback period, internal rate of return, and real options analysis. Covers the market analysis essential for making informed investment decisions.
SHP472 - Tanker Chartering
6 ECTS
Tanker Chartering is central to the business of shipowning and ship operation. Tanker shipping companies offer comprehensive transportation services to oil majors and energy trading companies. Over the last years tanker chartering has developed and evolved into a more formalized activity requiring conformance to commercial, financial, managerial and legal aspects that will in turn determine success in successfully negotiating fixtures, agreeing charter party contracts and concluding chartering business including undertaking post-fixture work. This course aims at providing a good understanding of tanker chartering practice including the process in the negotiations and chartering of tanker ships, the analysis of various voyage and time charter party forms, calculation of laytime and demurrage, the estimation of profit and loss related to specific fixtures (voyage estimating) and the analysis of important tanker charter party clauses. Overall, the course provides the context and information required to initiate, negotiate, assess, agree and execute a successful charter party contract in the tanker markets.
SHP473 - Shipping Financial and Market Risk
6 ECTS
Covers the fundamental principles of shipping risk. Covers market risk assessment using statistical methods (Value-at-Risk, Expected Shortfall), credit risk identification and management, and mitigation strategies.
SHP474 - Port Operations Management
6 ECTS
Covers port operations and management, including internal organisation and relationships with port users.
SHP475 - Data Analytics for Shipping
6 ECTS
This course prepares students to gather, describe, and analyze data, and use advanced statistical tools to make decisions on operations, risk management, finance, marketing, etc. Analysis is done targeting economic and financial decisions in maritime transport that involve multiple stakeholders. Topics include statistics, regression, clustering, forecasting, databases, and visualization/programing software overview.
Year 4, Semester 8
SHP481 - Operational and Corporate Risk Assessment in Shipping
6 ECTS
This course looks at aspects of Operational and Corporate Risk Assessment in Shipping from the following perspectives: Part 1 - What are the issues and risks that need to be investigated? Part 2 - How do you investigate those risks? Part 3 - What do you do with the results of your investigations? How do you use the information to make good decisions?
SHP482 - Supply Chain Network Design
6 ECTS
This course focuses on the strategic design, analysis, and optimization of supply chain networks, equipping students with the knowledge and analytical tools required to support complex strategic decision-making. It examines the role of network design in developing efficient, agile, and resilient supply chains, as well as the key factors influencing decisions related to facility location, network configuration, and the management of material and information flows. Students are introduced to contemporary modelling approaches, optimization techniques, and simulation methods for evaluating alternative network designs and supporting network redesign in dynamic business environments. The course also explores supply chain resilience, scalability, sustainable network design, and the role of emerging digital technologies in transforming logistics networks. Through case studies and quantitative applications, students develop the ability to design, evaluate, and optimize supply chain networks that enhance competitiveness, sustainability, and operational resilience.
SHP483 - Shipping Derivatives
6 ECTS
Provides theoretical and practical knowledge for managing risk via shipping and financial derivatives. Explores freight forward contracts, freight options, and fuel derivatives for effective risk mitigation.
SHP484 - Topics in Shipping
6 ECTS
This module covers current and emerging issues facing the shipping industry. Lectures and practical sessions focus on real-world shipping industry applications to prepare students for professional practice.
SHP485 - Internship
6 ECTS
The internship places students in real maritime sector working environments, connecting academic study with professional practice and helping them connect academic study with professional practice in the shipping sector.
SHP486 - Thesis
6 ECTS
The thesis is an optional research project undertaken in the final year of the programme. Students conduct independent research on a topic relevant to the shipping industry, under the supervision of a faculty member. The thesis develops advanced research, analytical, and academic writing skills, and may draw on quantitative or qualitative methodologies developed in the Research Methods courses.
