Shipping, Energy, Trade & Commodities

We’ve been pioneers in the academic field since the early 1980s, now the study of Shipping, Energy, Trade and Finance is one of Bayes’ flagship disciplines, with an unparalleled world-leading reputation.

Our research and teaching activities are delivered via The Costas Grammenos Centre for Shipping, Trade and Finance, renamed in 2007 from its previous incarnation as The International Centre for Shipping, Trade and Finance, first established in 1983 by Professor Costas Grammenos.

Decades of academic excellence

For 40 years we have been considering the inter-relationships between shipping, trade and finance and for almost 20 years between energy, trade and finance. We have educated generations of business leaders, shaped industry practice and transformed the sector through academic research and dissemination.

We have an outstanding community of more than 4,200 alumni from over 160 countries, who enjoy highly successful careers in a wide range of sectors around the world. Through our close proximity to the City of London, we have forged strong associations with business, policy makers and trade organisations, giving our activities real-world impact.

Always curious – world class research

Our group has wide-ranging academic interests, and we have developed a body of rigorous research which tests theoretical approaches against the reality of industrial practice. Key research areas include:

  • Energy & commodity pricing, volatility and risk management
  • Shipping economics
  • Freight rate dynamics and volatility
  • Shipping assets valuation & trading strategies
  • FFA hedging and options pricing
  • Shipping finance
  • Shipping behavioural finance
  • Decarbonisation of the shipping industry
  • Big-data analytics for assessing market dynamics and sustainable finance

Journals

Our world-leading academics regularly publish their latest research findings in the related sectors’ foremost journals:

  • Energy Economics
  • Journal of Banking and Finance
  • Review of Finance
  • Transportation Research

Prominent papers include:

  • Marchese, M., Kyriakou, I., Tamvakis, M. and Di Iorio, F. (2020). Forecasting crude oil and refined products volatilities and correlations: New evidence from fractionally integrated multivariate GARCH models. Energy Economics, 88, pp. 104757–104757. doi:10.1016/j.eneco.2020.104757.
  • Moutzouris, I.C. and Nomikos, N.K. (2020). Asset Pricing with Mean reversion: The Case of Ships. Journal of Banking and Finance, 111, pp. 105708-105727. doi:10.1016/j.jbankfin.2019.105708.
  • Alizadeh, A.H. and Tamvakis, M. (2016). Market conditions, trader types and price–volume relation in energy futures markets. Energy Economics, 56, pp. 134–149. doi:10.1016/j.eneco.2016.03.001.
  • Papapostolou, N.C., Nomikos, N.K., Pouliasis, P.K. and Kyriakou, I. (2014). Investor Sentiment for Real Assets: The Case of Dry Bulk Shipping Market*. Review of Finance, 18(4), pp. 1507–1539. doi:10.1093/rof/rft037.
  • Grammenos, C.T. and Papapostolou, N.C. (2012). US shipping initial public offerings: Do prospectus and market information matter? Transportation Research Part E: Logistics and Transportation Review, 48(1), pp. 276–295. doi:10.1016/j.tre.2011.07.009.
  • Alizadeh, A.H. and Nomikos, N.K. (2007). Investment timing and trading strategies in the sale and purchase market for ships. Transportation Research Part B: Methodological, 41(1), pp. 126–143. doi:10.1016/j.trb.2006.04.002.

Always learning – pioneering courses

Our highly regarded MSc courses are designed for those seeking a high-performing career in the global shipping, energy, trade and finance industries. We offer a multi-disciplinary approach which blends theory with practice, informed by cutting-edge research. Our graduates leave with competitive skills and knowledge, forging very successful careers in the related sectors.

  • MSc Energy, Trade and Finance
  • MSc Shipping, Trade and Finance.

We offer a range of generous scholarships, bursaries and prizes to support students during their studies.

A forum for dialogue and debate

Through the activities of the Centre, we provide a forum for international dialogue, networking and sharing of best practice.
Our lectures, meetings, conferences, and seminars are hosted in London and major shipping centres such as Athens, Hamburg, Hong Kong and Istanbul. They attract a global and prominent audience from the shipping, energy, commodity, and finance industries, as well as government and international organisations, policy makers and academics. Together they discuss and debate issues and trends which affect the related sectors and contribute greatly to their overall development and progress.

Celebrating academic leaders

We are proud to work with the Onassis Foundation to recognise the world’s foremost academics in the fields of finance, international trade and shipping, the fields that Aristotle Onassis excelled in. The prizes of $200,000 each, are awarded every three years to academics of international range for the entire body of their work.

Collaborations with impact

Over the last four decades, we have developed an outstanding track record of collaboration with industry, governments and academia. We always welcome discussions regarding potential research collaboration. Below you will find contact details for some of the leading academics in our centre:

Contact us and Find Bayes

Contact Details

Faculty Administration Team
+44 (0)20 7040 5230
 faculty.administration@citystgeorges.ac.uk