Masters in International Shipping and Finance
This Masters programme aims to produce tomorrow’s leaders in the maritime shipping and wider transportation sectors.
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
- Level
- Masters
- Subject area(s)
- Finance (ICMA Centre)
- Award
- MSc
- Duration
- 9 months / 12 months
- Attendance
- Full-time
- Locations
- Whiteknights campus (Reading) , ALBA Graduate Business School (Athens)
- Programme Directors
-
Professor George Alexandridis
Dr Nikolaos Antypas
Overview
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
Find out about how we'll be delivering our courses in 2020.
Part 1 Modules
| Compulsory modules | Credits |
|---|---|
Careers in Shipping Masterclass (ICM, (Masterclass))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. |
0 |
Fixed Income and Equity Investments (ICM108)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
Dr Miriam Marra
Christos Mavis
|
20 |
International Maritime Trade (ICM, ICM126)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
Professor George Alexandridis
|
10 |
Introductory Quantitative Methods for Finance (ICM124)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. |
10 |
Maritime Economics and Business (ICM125)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
|
20 |
Overview of Shipping Markets Masterclass (Masterclass)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. |
0 |
Securities, Futures and Options (ICM107)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
Dr Konstantina Kappou
|
20 |
Technical Aspects of Ships and Cargo Handling Masterclass (ICM, (Masterclass))
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 |
|---|---|
Chartering and Charterparty Analysis (ICM300)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
|
20 |
Economic Modelling and Analysis of Shipping Markets (ICM, ICM283)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. |
10 |
Maritime Accounting Masterclass (Delivered at ALBA/Athens) (Masterclass)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. |
0 |
Ship-broking/Chartering Masterclass (ICM, (Masterclass))
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.
|
|
Shipping Finance and Investment (ICM303)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. |
30 |
Shipping Strategy Masterclass (Masterclass)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. |
0 |
Students on the 9-month (12-month) programme can select 40 (20) credits from the following modules:
| Optional modules | Credits |
|---|---|
Derivatives and Risk Management in Shipping (Delivered at ALBA/Athens) (ICM321)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. |
10 |
Maritime Logistics Management (ICM, ICM120)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
|
10 |
Maritime Law and Marine Insurance (ICM, ICM290)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. Read moreIt 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
|
10 |
Mergers and Acquisitions (ICM227)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. Read moreTo 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
Professor Carol Padgett
|
10 |
Research Project (ICM218)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. Read moreThe 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
Professor Charles Sutcliffe
|
20 |
Programming for Finance (ICM142)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. |
10 |
Big Data in Finance (ICM323)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). Read moreThe 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
|
10 |
Part 3 Modules (12-month only)
Students on the 12-months programme should take 20 credits from the following:
| Optional modules | Credits |
|---|---|
Advanced Finance Theory with Empirical Applications (ICM289)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
Professor Marcel Prokopczuk
|
20 |
Energy Finance (ICM301)This course aims to provide students with an understanding of financial decision making in the context of the energy industry. The course will combine theoretical models with practical applications. It focuses on energy markets (products, companies, production and consumption), capital budgeting in energy companies, financing of energy companies, energy derivatives and trading in energy markets. A number of case studies in energy finances are utilised. Academic authors
Professor Marcel Prokopczuk
|
20 |
Stock Index Futures (ICM308)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
Professor Charles Sutcliffe
|
20 |
Work Placement and Project (ICM309)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
Dr Michael Smith
|
20 |
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
| Fees | |
|---|---|
| 2021 entry | £17,500 |
Living expenses are in addition to the above fees. Overseas full-time participants can expect to spend approximately £9,400 on additional living expenses during the course of their studies. UK/Home full-time participants can expect to spend approximately £8,000 on additional living expenses during the course of their studies.
All non Athens-Greece domiciled students on this programme will receive a stipend of £400 towards their accommodation expenses during the field trip in Athens. For more information about the field trip see the travel information tab on this page.
UK/Home Postgraduate Loans
Loans of up to £11,222 are available to eligible students studying for postgraduate Masters courses from the 2021-22 Academic year. In general, students need to be domiciled in England.
You can apply for a loan through the UK Government website. You can read more about the scheme on the Student Loans Company website or on these two UK Government sites: Introduction of loans for postgraduate students and Government response to the Consultation on Support for Postgraduate Study.
Scholarships
We offer a number of scholarships for UK/Home and International applicants with excellent academic performance as well as for international applicants with work experience, covering from £5,000 to 60% of the cost of the programme.
For a full list of scholarships, visit our scholarships webpage.
Current scholarships
- Undergraduate Degree – Minimum 2:1 or the equivalent from an overseas institution
- Degree Discipline – Any discipline – no quantitative requirement
- GMAT – No requirement
* Please note that due to increasing competition for places on our Masters programmes our entry requirements may change.
We operate a rolling admissions system and you are therefore advised to apply early in order to be sure of your place on our programmes. We experience high levels of demand, and it is possible we might have to close applications to some programmes once places are filled.
English requirements
Studying in a second language can be challenging. If your English language ability is below the minimum requirement, we may ask for evidence of proficiency. Alternatively, we may ask you to attend an English language course before you begin your studies with us.
| Requirement | Criteria |
|---|---|
| IELTS | 6.5 with no component below 6.0 in any sub-skills |
| IELTS with pre-sessional English | 6.5 with no component below 5.5 in each of the four sub-skills |
For information on other English language qualifications, please visit our English requirement equivalent page.
If you require specific advice on your qualification please contact admissions directly by e-mail or telephone on +44 118-378-5289.
UK visa requirements
If you are not a national of the European Union (EU), you may need to obtain a UK visa. This visa will allow to live and study in the UK. See the UK Border Agency website. Contact the University's International Office with any questions: intoff@reading.ac.uk.
New Graduate Route
From the summer of 2021, the UK's new Graduate Route post-study work visa allows you to apply to stay in the UK for up to two years after you graduate, with the opportunity to undertake skilled work. Visit the University website for the latest information.
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 |
Internships/Placements
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
Apply for 2021 entry now
Apply online now through the University of Reading’s online application service.
The online application service allows you to complete your application information, attach electronic copies of your academic transcripts, certificates and other supporting information. It also provides a facility for an email request to be sent to your referees. This enables the referees to send your supporting references directly to us.
When to apply
We operate a rolling admissions system and it is recommended that you apply early to secure your place. There is no specific deadline and applications will be considered until the programme is full. However, to allow us time to process your application we recommend that you apply by the following dates:
| UK/Home applicants | International applicants |
|---|---|
| 1 August | 1 June |
After you apply
You will receive a confirmation email when we receive your application form. Your application is then reviewed by a member of staff. If successful, you will receive a formal offer letter outlining any necessary entry criteria you will need to meet. You'll then be asked to confirm your acceptance of this offer.
If you require a Certificate of Acceptance for Studies (CAS) for your visa, details will be sent by email once all conditions of the offer have been met.
Throughout the admissions process we will keep you updated with key information via email. We also provide opportunities to interact with faculty and staff online.
Find us on Facebook and keep up-to-date with news and events at Henley or ask us a question. In addition, you can speak to a current student, our students are always happy to share their Henley experience.
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
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.
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.
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.
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.
Our students
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.
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.
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.
Being taught in small classes by people with great industry experience and links made a big difference. I have secured a full-time job back in Taiwan and very often apply the practical skills I have acquired.
MSc ISF helped me gain a global perspective and provided contemporary tools used in shipping and financial markets that I was able to take back to the workplace. I really enjoyed being part of the ICMA Centre community.
When making my final choice of a Master’s in Shipping programme I found that MSc ISF really stands out due to its practical teaching approach as well as its focus on how the shipping and financial markets interact and complement each other.When I joined I was immediately impressed by the high-end facilities and the fact that renowned practitioners and academics in the sector are involved from day one in the teaching as well as our career development. The practice-based workshops, company visits and trip to Greece were particularly intuitive and helped me learn a great deal about the shipping industry. I also gained significantly from the programme’s career development and internship scheme as I have secured a work-placement through the careers office and subsequently been offered a full time job in the same company. I feel proud to be an Alumna of MSc ISF and confident I made a life-changing choice.
The Master’s in International Shipping and Finance has been an opportunity, not only to learn about today’s most crucial markets but has also offered invaluable practical insight. Being given the chance to meet with renowned industry professionals as well as leading experts in the field has provided me with the edge I needed once graduating. In an industry where networking is key, the program acknowledges the value of practical knowledge and incorporates this unique focus at every stage.
I chose the Master’s in International Shipping and Finance because of its aim to provide a practice-based educational experience, a unique career development and support service, and in order to benefit from the world-class reputation of Henley Business School and the ICMA Centre. I feel I have made the best choice and gained really valuable skills and experience. Most importantly, the career support and placement opportunities offered, truly helped me kickstart my career in the shipping industry.
A couple of years ago I decided to quit my job at a world leading shipping group to study for the Master’s in International Shipping and Finance which caught my attention due to its focus in both shipping and finance which I believe is where the future of the shipping industry lies. The program exceeded my expectations and despite the fact that I was already experienced, I learned a great deal from renowned professors and business practitioners. The program enriched my knowledge on a wide array of topics including commodity markets and flows, financial markets and securities, maritime business, chartering, shipping finance and risk management.I feel I have made an excellent choice and as a shipping project manager for a well-known leasing company in Shanghai I often apply the tools and knowledge I acquired in the class to deal with complex processes. Moreover, I believe personal and professional connections are very important and during my time on the program I met people that I keep in touch with today. I would certainly recommend the programme to anyone that wishes to experience shipping education at its best.
Fresh out of my college, with almost no practical work experience but eager to acquire new skills to enter the competitive markets of today, I stumbled upon this Masters Programme offered by Henley. It took me no time to decide from the offset that this degree had a unique edge over others, training and power packed, highly intensive and dynamic course, is carefully designed to provide an overview of the entire shipping industry, from its technical and legal issues to its strategic and financial aspects, enabling you to analyze projects from various viewpoints. Well-balanced in-class lectures coupled with hands-on practical workshops and sessions on bespoke systems will equip you with the skill and expertise to take on the most challenging jobs head on. It is certainly for those who want to do a lot in very little time. The tight deadlines and challenging assignments makes you appreciate the value of time and perform better under pressure. And if textbooks and classrooms bore you, frequent field-trips, company visits and meetings with senior practitioners and vivid ship-owners will simply not fail to motivate you. Plus, Greece is an amazing place to visit. The best part about this Masters and it directors is that, they deliver what they promise, if not more.
My year spent studying my Masters degree in International Shipping and Finance at the ICMA Centre was both one of the most challenging and rewarding periods of my life. Whilst being a very demanding course, it also presented great opportunities for interactions with industry experts and leading academics through various seminars, workshops and field trips – which I enjoyed very much. Perhaps my favourite aspect of the course was the truly international environment and feel of it; working and socializing with other students from a variety of different countries and backgrounds along with the term spent studying abroad in Athens really did typify global nature of Shipping. It was very much an all-encompassing course where I learned so much about both shipping and finance that I feel like I was pushed to enrich my knowledge far beyond that which I thought I was capable of and I am very appreciative of this and hope it provides me a very strong foundation to excel in my career.
Attending the MSc International Shipping and Finance has proved to be a very wise choice for me. Not only was the programme structure and modules efficiently designed and the lectures delivered by top class professors, but also because the programme offers great networking opportunities. Guest lecturers are senior practitioners from different maritime segments, sharing their valuable and up-to-date knowledge and hands-on experience. Masterclasses provided us with a taste of real business practice and prepared us for real work-place scenarios. Moreover the various company visits in both London and Athens proved a very efficient way to network with insiders, which in turn contributed greatly in securing internships and jobs. I thoroughly enjoyed every minute of my time on the programme and greatly benefited from the career support so I highly recommend this programme to those who aspire to improve their potential and embark upon a rewarding career in the shipping industry.
Speak to a current student
About ALBA Business School
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 alba.edu.gr
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.
Visas
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.
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
TradeWinds
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
Datastream
Economic, Company and Commodity data through our Datastream Terminal
Contact us
For any questions of academic nature about this programme you are welcome to contact directly the Programme Director, Dr George Alexandridis at g.alexandridis@icmacentre.ac.uk or Co-director, Dr Nick Antypas at n.antypas@icmacentre.ac.uk
Admissions
If you have any questions about admissions, please don't hesitate to contact us.
Email: admissions@icmacentre.ac.ukTelephone: +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.
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.
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.
This is a very practical programme that taught me a lot. The greatest gain is studying the field in depth. The more I learn, the more confident I am and I am very happy that I chose Financial Engineering.
Besides the career support provided by both the ICMA Centre and Henley Business School, I also enjoyed the networking events that provided opportunities to meet interesting people and connect with people from the other side of the world.
The global reputation and trading facilities allow students to use their academic knowledge in practical settings (e.g. trading simulations). Also, many lecturers have many years of financial industry experience meaning classes include a good balance of academic knowledge and industry practice.