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MSc in International Shipping and Finance

Masters in International Shipping and Finance

At a glance

  • Experience a unique practice-centred learning approach including specialised Masterclasses, distinguished guest speakers, bespoke simulations and company visits
  • Gain access to work-placement and networking opportunities and benefit from our partnership with leading shipping recruitment specialists Spinnaker Global
  • Be granted professional exam exemptions from the Institute of Chartered Shipbrokers (ICS) and membership to the Baltic Exchange.
  • Gain international experience through a field trip to Greece, a country with a long-standing tradition in shipping and the largest merchant fleet in the world.
  • Receive a Dual Degree Award from both the ICMA Centre and ALBA Graduate Business School
Subject area(s)
Finance (ICMA Centre)
9 months / 12 months
Whiteknights campus (Reading) , ALBA Graduate Business School (Athens)
Programme Director
Antypas Nikolaos
Dr Nikolaos Antypas


Spinnaker Global, Institute of Chartered Shipbrokers, Maritime London, The Baltic Exchange, ALBA Graduate Business School

In today’s globalised world, maritime transport has become instrumental to international trade and the global economy. More than 85% of total merchandise trade volume is transported by the international shipping industry. Given the continuous expansion in the global economy and international trade flows, the wider transportation sector offers exciting and rewarding career opportunities.

MSc International Shipping and Finance is developed alongside senior industry professionals. The programme is designed to equip you with the practical skills and expertise sought after by major employers in the sector. A number of features differentiate this programme from other shipping oriented postgraduate Masters, aiming to offer you a competitive edge. In the centre of it all is its hands-on, practice centred approach. You will benefit from bespoke simulations, specialist masterclasses, networking opportunities, distinguished industry guest speakers and visits to leading companies and ports. As part of the programme’s international experience, you will undertake less than one month of study in Athens. You'll study at ALBA Graduate Business School, American College of Greece, an institution renowned in Europe for its shipping Masters courses.

Thanks to our links with leading companies in the shipping industry, you will gain access to summer work placement opportunities. A comprehensive careers development programme is also an integral part of the programme. This includes the support of the globally recognised shipping recruitment consultancy Spinnaker Global. The programme’s focus on career goals and aspirations has resulted in more than 90% of graduates securing job offers within 6 months of graduation.

During the Master’s programme, you will specialise in International commodity trade and transport, shipping market economics and business and shipping strategy. You’ll gain insight into shipping finance and investments, chartering and ship-broking as well as shipping-related risk management strategies and quantitative techniques. Modules in maritime logistics systems and maritime law and marine insurance complement the offering. You will also gain exposure to securities trading, investment strategies, valuation and corporate transactions. Increasingly the programme has turned its focus to issues that are central to the future of the maritime transportation sector. This includes shifts in strategic management and corporate governance, new financing sources, the regulatory environment, automation and consolidation.

Students on the MSc ISF programme also benefit from our partnership with Spinnaker Global as well as memberships of Maritime London and the Baltic Exchange .

Follow our International Shipping & Finance Facebook page for programme as well as shipping industry and education related news.

COVID-19 update

Part 1 Modules

Compulsory modules Credits

This series of masterclasses is part of the shipping specific careers development programme available to MSc ISF participants. The welcome careers masterclass (in October) aims to provide an overview of the different careers roles within the shipping markets with particular emphasis on shore based commercial roles such as Ship-broking, Chartering, Operations, Ship Finance/Banking and Law/Insurance as well as their inter-relations. The workshop focuses on the qualities required, networking skills, personality profiling, internship opportunities and major employers and how Spinnaker Global can help.Participants have the opportunity to discuss about their career prospects and receive advice from one of the most experienced shipping recruitment specialists in the world. Two further shipping career workshops on CVs and bio profiles, practical networking skills, market awareness and job-hunting strategies will be led by the director of shipping programmes. The ICMA Centre careers development team also runs several general careers workshops as part of our career development programme available to all ICMA centre students.


Fixed Income and Equity Investments deals with the valuation of fixed income and equity securities. The module focuses on the basic characteristics of these securities and the strategies used for estimating their fundamental value and assessing their risk. Its primary aim is to discuss how certain characteristics and relationships can affect the value of fixed income and equity securities and how can they be exploited to form optimal investment strategies or for the purpose of conducting financial analysis. The analytical techniques introduced in this module are widely applied in other elements of the programme.

Academic authors
Miriam Marra
Dr Miriam Marra
Christos Mavis

This module is the building block of the programme's maritime component in Term 1. The focus is on the global patterns in international trade, the characteristics of the main commodities carried by sea, and the geography of maritime trade (including main producers, exporting/importing countries and flows, routes, ports and choke-points). The module provides an in depth understanding of basic resources, agricultural and energy commodities such as oil and petroleum products, gas, iron ore, coal and grains. General merchandise carried in containers and patterns in liner trade are broadly covered. Participants also explore transportation mechanisms along with vessel types employed for different commodities and shipping routes. IMT is delivered by the Director of Shipping programmes along with senior select practitioners from the dry bulk, tanker and container sectors.

Academic authors
George Alexandridis
Professor George Alexandridis

The objective of the module is to provide an overview of econometrics and in particular the analytical techniques used in finance. Via case studies and computer modelling exercises, students then learn how to apply these techniques to real data. Emphasis is placed on practical applications of the techniques in the global financial markets.


Sea transportation is a crucial catalyst for world trade and economic growth. The globalization of the world economy, increased competition and rapid technological changes have resulted in lower transportation costs. Price volatility, uncertainty, capital concentration and global competition within the shipping markets make economic skills essential for the success of shipping organizations. The aim of this module is to provide an understanding of the structure of the shipping business entity, sectors and organisations and the maritime economic principles and policies related to the effective management of shipping companies operating within the global competitive environment. The course focuses particularly on the relevant shipping markets, supply and demand conditions and decision making based on the structure of the cash flows that shipping companies generate.

Academic authors
Ioannis Alexopoulos

This one-day masterclass aims to provide an introduction to the shipping industry; its main markets and participants, various vessel classes, types of commodities carried by sea as well as the main risks and sources of capital in the industry. The session also focuses on the current developments and outlook of the global shipping industry. A renowned guest speaker is often invited to this event which takes place during the first week of the Autumn Term.


This module provides an overview of the key building blocks in modern finance theory and introduces techniques for analysing and valuing different classes of risky assets such as equities and derivatives contracts. It also develops ways of optimally selecting portfolios of such assets and develops models of how these portfolios can be priced in financial markets. The techniques introduced in this module are widely applied in other elements of the programme. The module includes simulated trading sessions in our state of the art dealing rooms, where participants are introduced to real world pricing and trading strategies (INVEST sessions).

Academic authors
Nadia Kappou
Dr Konstantina Kappou
This one-day masterclass aims to provide an overview of some very important technical aspects of ships and cargoes. The issues and terminology introduced here are pre-requisites for the understanding of topics in ship management and chartering. It will cover, among others, types of commercial ships, load-lines, ship construction, engine room layouts, ship surveys, dry docking, cargoes, stowage and cargo handling equipment. The Masterclass is delivered by a renowned Maritime Technology/Engineering Specialist

Part 2 Modules (Jan-Mar ICMA Centre Mar-Apr ALBA)

Compulsory modules Credits

The module provides an in-depth understanding on the various activities related to the commercial exploitation of merchant ships and their different chartering methods and practices. Content includes the procedure and practices relating to the sale and purchase of vessels, their commercial employment under various forms of chartering and the detailed calculation of financial performance including port operations. The module further provides a critical overview of niche cargo markets such as dry bulk, oil and chemical tanker, container, liner, passenger, short sea and inland waters. Where appropriate, the impact of national, EU and International sea transport policies are examined, together with International Maritime Organisation (IMO) regulations that guide the future terms of trade and developments in the design and specifications of ships.

Academic authors
Prof Photis Panayides

The module deals with the most common economic techniques used in the analysis of shipping markets. The aim is to provide participants with the business modeling research tools and skills necessary to conduct empirical analysis in shipping. It follows a “hands-on” approach, where participants use real shipping market data and apply empirical assessment methods through case studies. Emphasis is placed on practical applications of the research techniques employed in international shipping markets.


The purpose of this one-day masterclass is to provide an overview of the accounting practices commonly employed within the maritime industry. The masterclass is delivered by a maritime accounting specialist and focuses on the critical evaluation of accounting methods used in modern shipping practice. Its ultimate goal is to provide students with the necessary tools to perform accounting analysis within a maritime organization.

This 2 day masterclass aims to provide an understanding of the practical aspects associated with the ship-broking profession. The session will focus on the role of ship-brokers, the qualities required, and activities they are involved, voyage process and estimations, charter-parties, negotiations and vessel employment options. The majority of the sessions are interactive and require active participation. Students will be required to work in groups as part of some sessions and participate in the “Chartering Negotiations Game”, a simulation designed to provide hands-on exposure. The workshop is delivered by a renowned chartering/ship-broking training practitioner.

This 30-credit module focuses on the evaluation and selection of alternative shipping related investment decisions under uncertainty and the different sources of financing available to shipping organizations. The module deals with the process and types of traditional bank financing, as well as alternative sources, such as public equity and bond issuance, private equity and ship leasing, among others. It also provides a rigorous grounding on the long-term investment decisions that shipping businesses make to grow organically or through acquisitions, the valuation tools and analysis used to make these decisions and the factors that affect them.


This one-day masterclass aims to provide an understanding of the theory and practice of strategy as applicable to the global shipping industry. It introduces some of the theoretical concepts, tools and techniques commonly used to help formulate a business strategy and also examine how these have been applied by shipping companies. In doing so, the students will critique the strategies which are currently being deployed by a number of leading shipping companies and the moderator will draw on his experience as head of strategy at a major shipping services group. The session will also afford students the opportunity to test their own ideas via participation in a strategy workshop. Each group will prepare a high-level market entry strategy and present their ideas to the other groups. The Masterclass is delivered by a senior shipping strategy consultant with more than 35 years experience.


Students on the 9-month (12-month) programme can select 40 (20) credits from the following modules:

Optional modules Credits

The module provides a solid grounding in risk management and derivatives products in shipping. It builds upon some of the finance concepts introduced in Term 1 modules and applies those concepts within the shipping industry. Risk management is constantly evolving and has become an essential tool within the modern corporation. The cyclical and volatile nature of the shipping business that tends to result in extensive fluctuations in rates and prices associated with shipping operations makes risk management crucially important to shipping companies. As a result, shipping derivatives have been developed in order to more efficiently manage risks, emanating from fluctuations in freight rates, bunker prices, vessel prices, interest rates and foreign exchange rates, amongst others. The module’s main aim is to provide a critical understanding on how all main types of shipping derivatives can be applied in the day-to-day practice of risk management in shipping.


The module focuses on the current developments and practices in logistics and supply chain management within the global maritime industry (i.e., shipping and ports). It also aims to provide an understanding of the challenges involved in the management of systems for the transportation of goods by sea as well as the optimization of maritime transportation and distribution systems. The module covers the importance of the maritime industry within global logistics and supply chain, the impact of current business patterns in logistics and supply chain within the maritime sector, the strategic approach of shipping companies in the globalised market place, as well as the logistics related challenges faced by global port operators.

Academic authors
Michele Acciaro

The module provides an introduction to the principal issues of Maritime law. It has particular focus on the private law areas of Admiralty law and practice and Carriage of Goods by Sea; including ownership and registration of ships, shipbuilding contracts, salvage, collision, freight, laytime and demurrage. It considers the main clauses in time charters. The module also aims to provide some understanding of the marine insurance market, products and claims processes.

It considers the standard forms of charterparties and provides a legal analysis of some of its clauses as well as several major legal aspects of carriage of goods by sea (law of freight, hire, lay time and demurrage) and ship-finance contracts.

Academic authors
Mr Anthony Rogers

The objective of the module is to introduce students to the technical and practical aspects of Mergers and Acquisitions. It focuses on several corporate valuation methods, how to identify and value synergies as well as the financing process of an acquisition. Selected case studies will help students become familiar with the practical aspects of the deal making process.

To enable students to understand why companies decide to expand through acquisition, how they find and value targets, decide how to pay for their acquisitions and then integrate them into the organisation. By the end of the module students will be able to value companies using discounted cash flow and multiples. They will also understand how to conduct event studies and to interpret the findings of empirical research on M&A.

Academic authors
Carol Padgett
Professor Carol Padgett

The aim of the research project is to allow students to define and execute a piece of research in finance on a topic of their choice, with direction from an academic supervisor and with assistance from a doctoral student support supervisor.

The self-directed nature of study for this model should encourage students to be resourceful in their search for relevant literature and data, and to manage the various stages involved effectively, leading to timely submission of the finished piece.

Academic authors
Charles Sutcliffe
Professor Charles Sutcliffe

The objective is to introduce the students to programming and its usage for data processing and finance. It deals with how to write programming code, process files, receive input and provide output. Students who complete this course will be able to write programming code in Python, process files, input, output and manage data. Furthermore, students will be able to read and write to Excel and CSV files, connect to databases, obtain and process data from the Web, as well as use Python for Finance and Econometrics applications.

Academic authors
Vu Tran
Dr Vu Tran

In this course you will learn how big data techniques can be used to solve problems in finance. We will first explore issues related to the collection, organisation and visualisation of large sets of structured and unstructured data. We will then look at methods for storage and computation of big data sets by distributed computing (Hadoop). The module will also explore the use of cloud computing platforms with a focus on the Google Cloud Platform (GCP).

The course focuses on (1) issues facing big data handling (2) retrieval, organisation and cleaning of structured and unstructured data (3) a high level description of a system for the distributed storage and processing of big data (Hadoop) (4) cloud computing with a focus on the Google Cloud Platform (5) finance applications.

Academic authors
Mr Mininder Sethi

Part 3 Modules (12-month only)

Students on the 12-months programme should take 20 credits from the following:

Optional modules Credits

This module is designed for advanced Master’s students and doctoral students. It has a very high technical content. It aims to equip the students with the foundations of theoretical asset pricing and with the relevant skills for performing empirical tests. Additionally, a few important corporate finance topics will be covered in the format of student presentations. The objective of the module is to prepare students to become independent and quality researchers.

Academic authors
Marcel Prokopczuk
Professor Marcel Prokopczuk

The module is less quantitative option open to all MSc students that builds on the coverage of futures contracts from term 1. By the end of the module it is expected that students will be aware of the different ways of constructing stock market indices and the implications of these differences, how futures contracts are traded and the identity of some of the close substitutes for trading index futures, how futures can be priced using an arbitrage relationship, how futures can be used for hedging the price risk of the underlying, and the various uses that fund managers make of these instruments.

Academic authors
Charles Sutcliffe
Professor Charles Sutcliffe

This module gives students the opportunity to pursue a work placement with an external organisation broadly related to the general sphere of their degree studies. The aim of the module is to allow participants to gain work experience in a career path of interest, develop a wide range of employability skills, build their network and enhance market awareness. The maximum duration of the placement is 3 months and it takes place during the summer vacation period (June-August). Placements should be secured by students independently. The Centre’s career development office can support students in their search and application process. Placements secured by students are subject to the approval of the module convenor. The module is assessed by a 3,000-word project based on the work experience gained.

Academic authors
Michael smith
Dr Michael Smith

This module aims to provide students with an understanding of financial decision making in the context of alternative investments.

Academic authors
Alfonso Dufour
Dr Alfonso Dufour

An applied, innovative approach to the structured product market from a practical point of view. Topical issues are addressed in a systematic way to discuss the principles of financial engineering and application to structured products.

Academic authors
Marcel Prokopczuk
Professor Marcel Prokopczuk

This module aims to provide students with an understanding of financial decision making in the context of alternative investments.

Academic authors
Marcel Prokopczuk
Professor Marcel Prokopczuk

The module or course content descriptions set out on this page are correct for those being taught in the current academic year. Modules or course content marked as optional are indicative and may be subject to change.

Our master's in finance courses are available only on a full-time basis with the option of studying for 9 or 12 months.

Learning options

Full-time: 9 months
Full-time: 12 months
Students will be resident and undertake full-time study in the UK. Under both, the 9 and 12-month programmes students take compulsory and/or elective modules in Part 2.

The 12 month option involves taking an elective 20 credit module between July and August, which would also mean a 20 credit reduction in the number of taught modules taken in the spring term.

Course structure

October – December:Part 1 Autumn Term
January:Part 1 Exams. Please note that the January Exams will start 1 week before the official start of the Spring Term.
January-April:Part 2 Spring Term
May – June:Part 2 Exams
June – August (12 month programme only):Part 3
August/Sep (12 month programme only):Part 3 Coursework deadlines

Careers in International Shipping and Finance

How can Henley Careers work with you?

Here at Henley we have an award-winning careers team here to support you through your time here and four years after graduating from us.

Here is how Henley Careers can help you:

  • Careers Consultant appointments - Our Careers Consultant are here to help and support you with any careers related concern that you might have. Whether it’s advice on your CV, practicing for an interview, looking at possible reasons why applications aren't being successful or support planning your career goals, we’re here to help empower you to progress in your career.
  • Events - Henley Careers organise numerous events aimed to help you build your confidence, develop the skills employers are looking for, network with employers and expand your industry knowledge.
  • Alumni support - You can continue to book one-to-one appointments with your Careers Consultant and use our online resources for up to four years after you graduate to get help and support in your career.
  • Career Smart - Get a head start in securing a graduate job by taking part in our online course, Career Smart. You can expect to learn about the graduate recruitment cycle in the UK, where to look and how to start applying to jobs, and the different types of roles available to you.

For more information please see our Careers page.

Continuing your career

On average, more than 90% of the programme’s graduates are in work or further education 6 months after graduation. Graduates take up salaried and internship opportunities across a range of employers, including: ship-owning and transportation companies, ship-broking firms, commodity, industrial and retail groups, shipping consulting and analysis companies, port operators, shipping divisions of investment banks, finance arrangers, leasing companies and shipping-related investment funds. The wide curriculum of the programme will also enable you to consider careers in the global investment banking and securities markets.

Our dedicated Career Development Unit will offer you a full range of career advisory and professional development services. From our Masters in International Shipping and Finance programme, you will also benefit from our partnership with Spinnaker Global, the leading shipping recruitment consultancy. Work placement opportunities with leading companies in the shipping industry are made available to outstanding graduates.

Some of our recent graduates have taken up full-time or internship opportunities in these companies:
Accenture Howe Robinson Partners
A.M. Nomikos IHS Markit
Angelicoussis Shipping Group Lomar Shipping
Arcellor Mittal Lorentzen & Stemoco
Arrow Shipbroking Maersk Group
Aviation Industry Corporation of China (AVIC) Marine Capital
Braemar AMC McQuilling Partners
BNP Paribas Navig8 Group
Clarksons Platou (LSE: CKN.L) Navios Maritime Holdings (NYSE: NM)
Credit Agricole (ACA: EN Paris) N.S. Lemos
Swire Group | China Navigation Paragon Shipping (NYSE: PRGN)
Danaos Corporation PwC
Dynacom Tankers Sinograin Oils Corporation
DNB S&P Global Platts
Diana Shipping (DSX: NYSE) Shell
Eastern Pacific Shih Wei Navigation (TW: 5608)
EDF Trading Thenamaris
Export-Import Bank of China Trafigura
Galbraiths Top Ships Inc (NASAQ:TOPS)
Golden Union Shipping UK Chamber of Shipping
Gulf Marine Services (GMS: Lon) V-Group
Hav Chartering Wisdom Marine Group
Höegh Autoliners


Work placement opportunities with leading companies in the wider shipping, trading and finance sectors are available to outstanding MSc ISF graduates. All students are eligible to take a summer work placement elective module. A number of companies have joined our work placement scheme and offer work experience placements to excellent graduates (subject to successful interviews and work permits where applicable). Full-time opportunities are also promoted directly to our students.


Career Advisory Partnership

Along with a full range of career advisory and professional development services available to our students from our dedicated Henley Careers team, students will also benefit from our partnership with Spinnaker Global, the leading shipping recruitment consultancy. As part of our collaboration Spinnaker provides career advice and support to our students and promotes their profiles internationally for internship and full-time opportunities.

Find out more about graduate destinations and career opportunities on our Henley Careers page.

Professional Accreditation

Institute of Chartered Shipbrokers (ICS)

Institute of Chartered Shipbrokers (ICS)

The ICMA Centre is among the pioneers in finance education and renowned for its strong links with the financial services industry. The Centre was ranked in 2020 among the UK’s top 5 for its Masters programmes (Financial Times Masters in Finance Ranking). It is also part of Henley Business School – among an elite group of 75 business schools in the world to hold triple-accredited status from the leading UK, European and US accrediting bodies: AMBA, EQUIS and AACSB.

The Centre’s unique practice centred approach includes a number of finance education innovations. These will provide you with a solid grounding for a career in the industry. The approach aims to equip you with a skill set that sets you apart from graduates of other finance programmes. Your employability track record is also bolstered by an in-house comprehensive career development programme.

Reading has proximity to the world’s top financial centre (25 mins from London Paddington). Several leading professional bodies including the CFA, CISI, GARP and ICS validate our programmes and offer exam exemptions to our students.

Joining one of the top schools of finance in Europe, you will benefit from state-of-the-art facilities. You will have access to the latest technology and will be taught by world-renowned faculty and industry experts. Our innovative teaching and learning environment includes trading and financial analysis simulations. We also have the latest financial data and programming software. Our three dealing rooms are one of the largest facilities of its kind in the world. They provide an ideal setting for understanding how businesses and markets function in practice.

Our students’ learning experience is a top priority for academic faculty and administrative staff at the ICMA Centre. This is reflected in the latest student satisfaction rates in the PTES and NSS student surveys.

“When I joined I was immediately impressed by the high-end facilities and the fact that that renowned practitioners and academics in the sector are involved from day one in the teaching as well as our career development.”
Elena-Anna Gkermpesioti, MSc International Shipping & Finance

Student blogs

Antigonos Theodorakis 1

From networking with industry experts to forming a clear view of the shipping industry. In our latest blog, Antigonos Theodorakis discusses why he decided to study the MSc in International Shipping and Finance. Find out more about his transition from Greece to the UK, as well as his experience settling in to the programme and the ICMA Centre.

Discover more in Antigonos's blog here.

Mohsin Parvez 190801 140145

MSc International Shipping and Finance student Mohsin Parvez, shares his overall masters experience. Masterclasses and industry insight events helped him to discover the roles he was most interested in. From the first interview about the scholarships, to meeting the Careers Consultants at Henley Careers, Mohsin also discusses how he discovered the importance of motivation.

Read Mohsin's blog here.

Athens trip

Interested in finding out more about the Greece trip? George Colgan writes about the study visit to Athens, where students visited places such as the Port of Piraeus and even played a 'friendly' football match with ALBA Graduate Business School. Visiting leading companies such as Danaos and Trafigura, exposed the students to the international aspect of the industry.

Find out more in George's blog.

Sophie Eleftheriou

Sophie Eleftheriou discusses how she found her first term. Joining the Tango, Finance and Yogalates societies was a great way of meeting new people with similar interests. Numerous study visits to places such as the Baltic Exchange to networking opportunities at the Marine Money Conference. Find out what advice Sophie gives to new ISF students.

Read Sophie's blog here.

Our students

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About ALBA Business School

ALBA LOGO M Sc Shipping Finance

As part of the international exposure on offer with the MSc International Shipping and Finance, one month of study is held in Athens at ALBA Graduate Business School, American College of Greece. Greece is the country with the largest merchant fleet in the world – it is home to more than 1,000 shipping companies. It also has the largest European container port in the Mediterranean Sea and one of the fastest growing in the world, which is operated by COSCO. As a result of the joint degree nature of the programme, you will be awarded two MSc degrees in International Shipping and Finance, both from Henley Business School and from ALBA.

ALBA Graduate Business School, American College of Greece is a leading European Business School founded by, and operating under, the auspices of the Greek business community. ALBA was ranked in the top 100 Business Schools in the 2017 QS Global 250 Business Schools report. The strategic alliance between the ALBA Graduate Business School and the American College of Greece, established a leading academic organisation that has set new standards for higher education in Southeast Europe. ALBA currently has 87 institutional and corporate members, including major banks, industrial, retailing and shipping companies. The school’s faculty includes world-renowned academics with a strong track record in research, leading visiting scholars from top business schools worldwide and distinguished industry practitioners.

ALBA specialises in postgraduate business education and is also among the leaders in high-quality executive education in Southeast Europe, accommodating the needs of several large corporate clients. ALBA is widely recognised among the Greek shipping community and along with MSc ISF it also offers two other specialised programs in Shipping: the AMBA accredited MBA in Shipping which is one of the few in the world and the MSc in Shipping Management. Both are accredited by the Institute of Chartered Shipbrokers (ICS) and the Hellenic Shipbroker’s Association (HSA). For further information on ALBA Graduate Business School at the American College of Greece, please visit

Accommodation in Greece

About 20-25 days of study as part of this programme takes place at ALBA Graduate Business School in Athens, Greece. Arrangements for accommodation in Athens for this part of the programme are facilitated by the students (typically in groups) with the support of the ICMA Centre and ALBA during the Autumn term. Accommodation in Greece comes at an additional cost (over and above the fee for student or private accommodation in Reading). The vast majority of the students in the past have secured good quality accommodation through AirBnB at a cost of £15 and £20 per day. All non Athens-Greece domiciled students on this programme will receive a stipend of £400 towards their accommodation expenses.


For non-EU students, in addition to a UK student Visa, a Schengen Visa may be required for travel to Greece. For a list of countries subject to additional visa requirement please visit the Greek Embassy website.

Schengen Visa applications shall be lodged during the first term whilst at Reading. The ICMA Centre and the faculty office at the Henley Business School will provide all necessary guidance and necessary supporting documentation.

For detailed Schengen Visa requirements please visit the Greek Embassy website.

Business Advisory Committee

The Business Advisory Committee (BAC) consists of an international group of select senior professionals that support the programme and help ensure that its content is in line with the most recent developments in the shipping industry.

Phil Parry Spinnaker Global quote

Committee members:

Philippe Van Den Abeele

CIO, Consortium Maritime Trading

George Achniotis

CFO, Navios Maritime Holdings

Filimon Antonopoulos

Partner, Talon Trading AG

Nikolaos Arachovas

Chief Financial Officer, Niki Shipping Company S.A.

Philip Bailey

Managing Director, Theisen Securities Ltd.

Guy Campbell

General Manager (Atlantic) at The China Navigation Co Pte Ltd, ex-Chairman of the Baltic Exchange

Ron Crean

Group Head of Marketing, Associated British Ports

Duncan Dunn

Senior Director, SSY Futures Ltd. Board Member – Baltic Exchange

Tony Foster

Managing Director, Marine Capital Ltd.

Emmanuel Hatzakis

Investment Strategist, Merrill Lynch, Bank of America

Costas Karamanis

Managing Director, Allied Chartering

Isabella Kurek-Smith

Director, Head of Energy and Freight, LCH. Clearnet Ltd.

Henry Liddell

Managing Partner, Howe Robinson Partners

Scott Moncrieff

Head of Chartering and Freight Derivatives, Sahara Energy Group

Phil Parry

Chairman, Spinnaker Consulting Ltd.

Ted Petropoulos

Founder and Head, Petrofin Research, Petrofin Ship Management Inc.

John Platsidakis

Managing Director, Anangel Maritime Services Inc.

Manish Singh

Group Commercial Director, V.Group Limited

George Skrimizeas

General Manager, Allseas Marine S.A and COO,

Paragon Shipping Inc.

Georgi Slavov

Head of Basic Resources Research Group, Marex Spectron Ltd

John Tsatsas

Committee Member and Past President, London Maritime Arbitrators Association (LMAA)

Dr Henriette Van Niekerk

Director and Head of Dry Bulk Analysis, Clarksons

Christos Varsos

Regional Finance Director, Coca-Cola Hellenic

Dr Malcolm Willingale

Training Specialist, Clarksons Platou and Director, Cambridge Academy of Transport

Ioannis Zafirakis

Director, Executive Vice-President & Secretary, Diana Shipping Inc. and Director, Chief Operating Officer and Secretary, Diana Containerships Inc.

Enriching the market awareness of the programme’s participants is a building block of our practice centred teaching approach. Possessing relevant market knowledge not only enhances the candidates’ learning experience but also improves their potential of securing quality jobs or work experience in the shipping industry following graduation. Along with comprehensive career development and support, building market awareness is at the core of the MSc in International Shipping and Finance. In addition to practice based teaching, guest speeches by senior practitioners and field trips, this is largely achieved through access to the most important and relevant industry information. Our students can access the following specialised shipping resources (either paper or online format) within the ICMA Centre:

Clarksons Shipping Intelligence Network
Comprehensive shipping database and market information including publications, time series and charts, orderbook, fleet and vessel details

Baltic Exchange Information
Daily freight market information (indices, fixtures, FFAs, reports) by the world’s leading source of independent maritime data.

Lloyds List
The leading daily newspaper for the maritime industry covering all sectors of the shipping world including tankers, containers, ports and dry bulk

The world’s biggest shipping news provider covering tankers, dry bulk, shipbuilding, containers, ship finance, offshore, insurance, ship casualties

ISF Director’s Monthly News Digest
The most important news about employers, careers, networking events and industry news from various sources made available to our shipping students through a monthly e-email digest

Weekly Shipping Analyst Reports Digest
Selected shipping analyst market and company reports

Spinnaker Changing Course
Global Shipping News from Spinnaker Consulting, the leading shipping recruitment consultancy

Shipping Network
Institute of Chartered Ship-brokers magazine, the Shipping Network

Our students also have access to shipping and finance related data/news through:

Financial Times
Financial information through Financial Times. A paper copy is distributed daily to each of our students (subject to special price subscription)

Bloomberg Terminals
Shipping company information and transportation sector news through the 10 Bloomberg terminals within the Centre

Thomson Reuters Eikon
Vessel Data (satellite and shore-based) and commodity information through the Thomson Returns Eikon Terminals in our Dealing Rooms

Economic, Company and Commodity data through our Datastream Terminal

Contact us

For any questions of academic nature regarding this programme, you are welcome to contact the Programme Director, Dr Nick Antypas, directly on


If you have any questions about admissions, please don't hesitate to contact us.

Telephone: +44 (0)118 378 6497

For me the experience was transformative. The programme’s world leading reputation and its strong focus on career development were instrumental in securing a full time role in one of the sector’s leading firms after graduation.

Konstantina Vagena Tanker Broker, Clarksons Platou, London Masters in International Shipping and Finance

The opportunity to interact with talented and competitive students from diverse cultural backgrounds, as well as the networking opportunities with industry experts made a big difference for my career.

Luca Zabeo Ship Finance Associate, Credit Agricole CIB Masters in International Shipping and Finance

From the tremendously informative and valuable field trip to Greece, to the visits to leading organisations and companies, the world class professors and practical module content, the industry guest speakers and the excellent facilities, I felt very privileged.

Huiduo Zhu Senior Manager, Export-Import Bank of China (CEXIM) Masters in International Shipping and Finance
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