Port Economics is the study of the economic decisions (and their consequences) of the users and providers of port services. A port works as an "engine" for economic development. This book provides a detailed discussion of port freight service users, such as freight water and land carriers, that have their ships and vehicles serviced and their cargoes unloaded by ports, as well as passenger services such as ferry carriers which are serviced by ferry passenger ports.

The text continues to enhance our understanding of port economics by exploring the economic theories, supply and demand curves, and the actual and opportunity costs relating to the carriers, shippers and passengers who use ports. This edition includes three new chapters focusing on:

• Cargo port choice behaviour from the perspective of port freight service providers;
• The state-of-the-art theory of cargo port choice equilibrium between shippers and cargo port service providers;
• The state-of-the-art theory of cargo port choice equilibrium between shipping lines and cargo port service providers.

This updated and comprehensive introduction to port economics will be of benefit to students and researchers in their study of port economics and management. It is also of great importance to professionals who manage and operate ports as well as freight and passenger carriers.