Contents: 1. Editor's Introduction - We Never Know the Worth of Water Till the Well is Dry Kevin P.B. Cullinane 2. The Maritime Industry: Key Developments in Seaborne Trade, Maritime Business, and Markets Hassiba Benamara, Jan Hoffmann and Vincent Valentine 3. The Option to Change the Flag of a Vessel Manolis G. Kavussanos and Andrianos E. Tsekrekos 4. Fixtures-Based Freight Rate Indices, and their Impact on Freight Rate Modelling in the Shipping Industry Albert Veenstra and Jan van Dalen 5. Fundamental Analysis and Relative Efficiency of Maritime Firms: Dry Bulk vs Tanker Firms Photis Panayides and Neophytos Lambertides 6. Modelling the Impact of Double Hull Technology on Oil Spill Numbers David Glen 7. An Investigation into the Effect of Risk Management on the Profitability of Shipping Investment and Operations Amir H. Alizadeh and Nikos K. Nomikos 8. Structural Factors Underlying Mergers and Acquisitions in Liner Shipping Mike Fusillo 9. Liner Shipping Networks and Market Concentration Ricardo J. Sanchez and Gordon Wilmsmeier 10. One-Hundred Percent Scanning of Port Containers: The Impact on Maritime Transport Chains Wayne K. Talley 11. Are Bunker Adjustment Factors Aimed at Revenue-making or Cost Recovery? Empirical Evidence on the Pricing Strategies of Shipping Lines Theo Notteboom 12. The Value of Direct Call Services by Container Shipping Lines in Northern Europe - Support Model for Strategic Scenario Development and Case Study Arne Jensen and Rickard Bergqvist 13. An Analysis of Short Sea Shipping as an Alternative for Freight Transport Lourdes, Trujillo, Francesca Medda and Maria M. Gonzalez 14. Optimal Inventory Control for Empty Containers in a Port with Random Demands and Repositioning Delays Dong-Ping Song and Qing Zhang 15. Measuring Competition between Ports Simme Veldman and Eric van Drunen 16. Captive and Contestable Port Hinterlands - Modelling and Visualisation using GIS Jacob Kronbak and Kevin Cullinane 17. Seaport Efficiency and Productivity Growth Carlos Barros, Hercules Haralambides, Mohamed Hussain and Nicolas Peypoch 18. A Multi Step Approach to Model the Relative Efficiency of European Ports: The Role of Regulation and Other Non-discretionary Factors Angela Stefania Bergantino and Enrico Musso 19. Is Puerto Limon a Real Lemon? Port Inefficiency and its Impact Paul Kent and Alan Fox 20. Port Performance in Changing Logistics Environments: Measurement Development and Model Testing Su-Han Woo and Stephen Pettit Index.