What’s it like working as a Maritime Economist? As a derived-demand industry – where demand for ships is governed by demand for the cargoes they carry – a Maritime Economist’s analytical understanding of the fundamentals of the maritime industry is a valuable aid to informed decision-making. As the experts on economic factors in the shipping environment, Maritime Economists study and analyse economic data and propose theories on future trends that can be expected based on current data. They also examine the techniques of finance and recommend improvements, outline organisational structures of marine-related business concerns, and may also have to study government regulations and requirements in maritime business.
What kind of work can I do? To successfully model, analyse and predict future trends, Maritime Economists gather data on the industry, analyse that data and then prepare reports, including tables and charts, on the research results. Maritime Economists may also be required to evaluate policies, perform cost/benefit analyses, and test ideas and hypotheses. Where can I work? Large ship broking companies often employ Maritime Economists in their research departments, while independent maritime consultancy firms will also have openings. To build up experience, candidates should look to take on a junior role in a research department and build up expertise through experience. Maritime Economists offer valuable insight into the intricacies of maritime industry fundamentals.
How big is this sector? Economists who specialise in the maritime sector are few and far between, and those with experience are in demand. However, there are also relatively few positions in this niche area, and the staff turnover in the top roles is low.