Abstract
Economical ocean transportation demands efficiency in the design and operation of ports and ships. If efficiency of these elements is secured then the costs incurred in ocean transportation will be as low as they can be within the existing structure of trade. In terms of economic jargon one would say that cost function has been minimised within the constraint of the given institutional framework.
Delivered as a lecture to the 10th Biennial International Conference of the International Cargo Handling Co-ordination Association, Madrid, June 1971, and reprinted by permission.
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Notes
TD/B/C.4/59 The Maritime Transportation of Tropical Timber.
TD/B/C.4/60 The Maritime Transportation of Natural Rubber.
TD/B/C.4/67 The Economics of Bulking Cargoes.
TD/B/C.4/76 The Impact on World Seaborne Trade of Changes in Shipping Costs.
TD/B/C.4/85 The Maritime Transportation of Jute.
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© 1975 S. G. Sturmey
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Sturmey, S.G. (1975). The structure of commerce. In: Shipping Economics. Palgrave Macmillan, London. https://doi.org/10.1007/978-1-349-02548-0_16
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DOI: https://doi.org/10.1007/978-1-349-02548-0_16
Publisher Name: Palgrave Macmillan, London
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Online ISBN: 978-1-349-02548-0
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