1.  The Association shall be called the INTERNATIONAL ASSOCIATION OF MARITIME ECONOMISTS (IAME) (hereafter referred to as “the Association”).


2.  In this Constitution and in all Council Regulations:

  • Words in the masculine gender shall include the feminine;
  • “Maritime economics” shall include the study of economic, managerial and governance- related issues and effects appearing in a maritime context, including related to shipping markets, ports and the associated supply chains.


3. The aim of the Association shall be to promote the development of maritime economics as a distinct discipline, to encourage rational and reasoned discussion within it and to facilitate the international exchange of ideas and research.

4. In pursuit of this aim, the Association shall:

  • Organise meetings and conferences at which various aspects of maritime economics may be discussed;
  • Promote and provide for its Members a Newsletter and promote access to a journal or journals, conferences and other activities deemed appropriate by Council;
  • Encourage and assist the education and training of maritime economists;
  • Encourage the growth of maritime economics in those regions where it has not previously been effective;
  • Promote research in all aspects of maritime economics; and
  • Take any other action to engage in or promote any activity that the Association considers desirable, in the interests of maritime economists, of the discipline as a whole or of the Association.


5. There shall be four classes of Members:

  • Individual Members;
  • Corporate Members;
  • Student Members; and
  • Retired Members.

6. Any person engaged in or interested in maritime economics may become an Individual Member of the Association, provided they are more than 21 years of age. Individual Members will be entitled to attend and vote at any meeting called by the Secretary in accordance with the clauses of this Constitution and to receive the Newsletter and other benefits as determined by the Council or Members, as appropriate.

7. Any Organisation or Institution whose concerns include a substantial interest in maritime economics may become a Corporate Member of the Association and that the Council of the Association has given its approval, which may be withheld without reason given. A Corporate Member may designate a representative to attend and vote on its behalf (each Corporate Member having one vote). A Corporate Member shall receive the Newsletter and other benefits as determined by Council. Membership of an Organisation having Corporate Member status shall not preclude any person from being an Individual, Student or a Retired Member.

8. Any person in part- or full-time education or training relevant to maritime economics may become a Student Member of the Association, provided they are at least 16 years of age and have been proposed by an Individual Member of the Association, who shall certify that they are so engaged and indicate the expected duration of their studies (which shall not exceed five years). Student Members shall be entitled to vote, and to receive the Newsletter and other benefits as determined by Council. Proof of current registration at university is required to maintain student status.

9. Any person who has been engaged or interested in maritime economics and is more than 60 years of age and not gainfully employed may become a Retired Member of the Association, provided that they have previously been an Individual Member, or have been proposed by an Individual Member of the Association, who shall certify that they meet the first two stipulations. Retired Members shall be entitled to vote, and to receive the Newsletter and other benefits as determined by Council.


10. Membership ends with death, termination (e.g. non-payment of membership duties) or exclusion from the Association. A member can leave the Association by written or electronic declaration.

11. A member can be excluded from the Association should he or she not act in the interests of the Association, make harmful public statements about the Association or its membership, or abuse his or her affiliation with the Association in view of obtaining excessive personal benefit. A vote of two-thirds majority of Council may remove a Member from the Association.


12. The monetary means to reach the Association’s aims and goals are obtained by membership fees. The level of membership fees are set by the Council. Membership fees are to be paid annually according to the specifications included in an invitation to pay sent by the Secretariat. The monetary means of the Association can also include donations and other income. The creation of savings and fund investments is allowed.

13. The income and property of the Association shall be solely applied towards the promotion of the aim of the Association, and no part of it shall be paid or transferred directly or indirectly by ways of dividends, bonus or otherwise by way of profits to Members of the Association.

14. The Council shall require proper books of account to be kept by the Treasurer. Once every year, the Treasurer shall provide a written audited statement of accounts to the Council and a suitably qualified person (Auditor), approved by the Council, shall submit a letter to the Council giving an opinion that the statement of accounts present fairly the financial position and results of the Association. The letter of audit shall be provided to Council no later than the 15th of March and become part of the Treasurer’s Statement of Accounts. The Council shall propose the Auditor for the next year’s Statement of Accounts at the General Meeting, and such choice shall be ratified by the Members by a show of hands of those attending. In the case that an Auditor satisfactory to the Members is not ratified at the General Meeting, Council is charged with finding an alternate Auditor and a ballot vote, transmitted to the Secretary by post, or electronically, shall be held to ratify the alternate no later than four weeks after the General Meeting. Ratification is by majority of those voting.


15. The Meetings of the Association shall be:

  • The Annual General Meeting;
  • Extraordinary General Meetings; and
  • Ordinary Meetings.

16. There shall be an Annual General Meeting of the Members, held at intervals of about 12 months, for the purpose of receiving the reports of the President, the Treasurer and the Secretary of reviewing changes in subscription levels and the establishment of National, Regional or Special Interest Branches, and for any other business for which advance notice has been given to the Secretary.

17. An Extraordinary General Meeting may be convened by the Council whenever it considers that the circumstances require such a Meeting. Such a Meeting shall also be convened by the Secretary upon the request of Members representing not less than 5% of the number of Members entitled to vote at General Meetings of the Association. At least three months’ notice shall be given to Members of the place, time and purpose of an Extraordinary General Meeting. Any additions, amendments, alterations or deletions to the Constitution of the Association shall require the consent of not less than three-quarters of the votes of those voting at an Extraordinary General Meeting called for the purpose. A copy of the proposed modification shall be sent to the Secretary not less than two months before the Extraordinary General Meeting at which it is to be discussed and the Secretary shall reproduce the text of the modification or any other Resolution to be considered by the Meeting, in the document convening the Meeting. The text of the modification or any other resolution should be made available to Members at least one month before the Extraordinary General Meeting

18. Members unable to attend an Extraordinary General Meeting shall have the right to vote on any Resolution, by sending a proxy form to the Secretary. Such forms shall provide either that the Proxy’s vote is cast in a particular manner or that the Proxy is given discretion on how to vote on the Member’s behalf. Such forms shall be distributed by the Secretary with the notification of the Meeting.

19. Ordinary Meetings, whose principal purpose shall be to present and discuss various aspects of maritime economics, by means of lectures, seminars, round tables or other types of conference, shall be convened by the Council at appropriate intervals. Such Meetings shall be open to all classes of Members and may be held in collaboration with other bodies. They may be held before or after General or Extraordinary General Meetings, but shall be clearly distinct from them. The Council may invite non-Members to attend Ordinary Meetings, either as lecturers or participants, and establish the terms on which they may do so.

20. The President shall take the Chair at Annual General Meetings, Extraordinary General Meetings, Ordinary Meetings and Meetings of the Council unless he shall designate some other Member of the Council or, in exceptional circumstances, another Individual Member of the Association to serve as his Deputy. If the President is unable to designate a Deputy, the Meeting shall itself elect a presiding officer.


21. The Council of the Association shall consist of the President, the Vice-Presidents (if any – the number of vice-presidents cannot exceed four), the Treasurer, the Secretary, and 10 other Members of the Association. To be nominated for Council and to hold office a person must be a paid-up member of the Association. To be considered for the position of President, Vice- President, Secretary, a person must have served at least one term (two years) on Council.

22. The Council may co-opt on to the Council up to three additional Members of the Association, for periods of up to two years, to achieve a regional, technical or other representation considered desirable by Council. One of the co-opted Council members may be the immediate past president.

23. The Chair of an Ordinary Meeting (Article 19) shall be made a member of Council if he/she is not already on Council. Article 30 (the maximum number of terms) does not apply.


24. The Council shall have power to administer, manage, direct and control the property and affairs of the Association; and to make Regulations for that purpose, which shall be binding on Members of the Association. It may establish Committees, either from Members of the Council or Individual Members of the Association, and may delegate to such Committees any of the powers conferred on it by this Constitution. The Council shall itself regulate its meetings, procedures and proceedings and those of its Committees. The Council may establish quorums for such meetings. The Secretary shall, at the request of the President or any other five Members of the Council, convene a Meeting of the Council. A meeting of Council does not have to be an in-person meeting, but may use whatever available technologies allow for the exchange of ideas and voting on decisions.

25. Council deliberations are only valid if two thirds of the members are present or have provided their dated and signed Proxy to a Council Member who is present. The Council aims for consensus decision making. However, any Council Member can request the President to have a formal voting on any pending issue that needs a decision from Council. Decisions by voting of the Council are taken by majority rule, except in case of the removal of a Member from Council (see Article 27). If no majority is reached (split vote) the vote of the President is decisive. If a decision involves three or more alternatives, more than one voting round may be organised until one alternative is supported by a majority of Council Members.

26. Members of Council serve the fiduciary interests of the Association and its objectives over their own interests. All decisions by Council are motivated in the Council meeting minutes. Council meetings are not open to Members, and discussions within Council meetings are not publicly available, but Members receive decisions of Council as reported by the Secretary.

27. Should Members of Council not act in the interests of the Association, or make public discussions held in confidence, a vote of two-thirds majority of Council may remove a Member from Council.

28. The President, on behalf of the Council, has the right to establish a committee ad hoc for any purpose deemed necessary, for example, in view of preparing the awarding of an annual conference or for seeking advice on strategic or ethical issues.


29. At the 1992 General Meeting and thereafter at intervals of two years, the Members of the Association shall elect the Members of the Council.

30. Members of the Council, except for the Secretary and Treasurer, may not serve more than three consecutive terms of two years but may stand for re-election after a two-year break.

31. The President shall be elected by the membership. The President shall not serve more than two consecutive terms, of two years each. The Secretary and Treasurer are Members in good standing of the Association and are appointed by Council. The Secretary and Treasurer may serve up to a period of 10 years at the pleasure of Council, i.e. an initial term of 5 years which can be extended with another 5 years after positive interim evaluation by the Council. After a term of 10 years, the Secretary and Treasurer can stand as a candidate again following a call among Members launched by the Council.

32. The Members of the Council shall be elected by the Members of the Association. In the event of Members of the Council retiring or otherwise vacating their posts, their places shall be filled for the unexpired period of their term of office from among the defeated candidates in reverse order of elimination.

33. The Past President and Secretary of the Council shall form a Nominating Committee with two Council Members not seeking re-election. The Nominating Committee will be responsible for nominating a slate of persons who agree to stand for the positions respectively of President and Council (ten members). The nomination list shall be distributed to Members not less than ten weeks before the General Meeting. Other candidates for President or membership of the Council may be nominated by any Member of the Association, provided the Secretary is advised in writing (including facsimile transmission or electronically), not less than six weeks before the General Meeting, under the signature of the Member, with the written agreement of the Candidate (including facsimile transmission or electronically), that he/she is willing to stand and meets the eligibility criteria as stipulated in Article 21. Candidates may, if they so wish, nominate themselves but in instances of self-nomination, the Candidate must have the written support of two Members of the Association and meet the eligibility criteria as stipulated in Article 21. Nominations shall close five weeks in advance of the General Meeting, so as to allow time for Members unable to attend the General Meeting to vote. All candidates for President are required to prepare a letter of intent and vision of their candidacy.

34. A Member’s vote may be transmitted to the Secretary by post, facsimile transmission or electronically in advance of the close of voting, using the appropriate paper or online voting form. The information on the voting procedure and the list of Candidates for President and Council will be circulated with the notification of the General Meeting not less than four weeks before the Meeting.

35. Ballots received prior to the General Meeting shall be counted and the results held confidential by scrutineers appointed by Council until completion of the counting of all ballots at the General Meeting. Arrangements for voting shall be made at the meeting site such that voting is possible prior to the General Meeting. Voting shall close 24 hours prior to the commencement of the General Meeting. A voters list shall be maintained under the authority of the Secretary.


36. As needed, but at least once every ten years, the Council is to seek Members of the Association who will undertake the roles of Secretary and Treasurer of the Association. It is recommended that the individuals are located in the same city or institution and agree to provide the services of Secretary and Treasurer respectively with the backing of support staff as a Secretariat for the Association. Council shall, in identifying suitable Members to provide these functions, issue a Request for Proposals, with technical details on the services sought and requesting details on the personnel, budget and services proposed, and all Members may apply by responding to the Proposals. The decision on which proposal for Secretariat services is successful, and hence the two Members to serve as Secretary and Treasurer, is taken by Council on behalf of the Members and in the best interests of the Association and its future direction.

37. The Executive is formed by the President, the Vice-President(s) (if any), Secretary and Treasurer. The Council may appoint other members of the Executive, such as a webmaster, Newsletter Editor or other functions, as it deems appropriate. The appointed members of the Executive may participate in discussions of the Council, but do not have voting rights.


38. At each General Meeting, the President shall present a Report in writing on the state of the Association for the past year, the Treasurer shall present an audited, written statement of the Accounts as of the end of the previous calendar year, and the Secretary shall present a written statement of the number of Members by class, as of the end of the previous calendar year. Opportunity shall be provided to discuss these reports. The Reports shall be circulated with the Newsletter of the Association and on the website no later than the 31st of March of the current year.


39. The Council may vote to grant a Past-President Emeritus status in recognition of support for the organisation. The Council may also vote to co-opt the immediate Past-President to be member of the Council in accordance with Article 22.


40. Annual subscriptions for Individual and Corporate Members shall be set, from time to time, by the Council. The Council shall establish a reduced scale of subscriptions for Student and Retired Members.

41. Annual subscriptions shall be paid each year, by or on 31st March, in respect of the year ending on 31st December subsequent, at the rates determined by the Council.

42. Any Member may, by notice in writing, facsimile transmission or electronically, resign their membership at any time, and shall take effect upon receipt by the Secretary.

43. By 15th April, the Treasurer shall notify the Council of Members whose subscriptions are in arrears as of 31st March of the year.


44. In line with Article 4, the Association promotes the organisation of conferences at which various aspects of maritime economics may be discussed. Every year, the Council will launch a request for ‘expressions of interest’ among the Members in view of finding candidates to host an IAME Annual Conference which is to be held some two years later. Interested parties are then invited to submit a formal bid document to Council.

45. The Council works out and amends guidelines on how to prepare bid documents and to present procedures and criteria guiding the awarding of an Annual Conference to the preferred bidder. The guidelines, procedures and processes are made available on the website.

46. It is the responsibility of the organizers of an Annual Conference to decide on the conference program and conference fee structure. However, the organizers are asked to present reduced conference fees for Members of the Association. Non-Members who are paid-up attendees of an Annual Conference will automatically be granted a one-year membership of the Association. The conference organizers have to transfer the corresponding membership fees to the Association.

47. The Annual Conference organizer will hold the Association’s flag. At the closing ceremony of an Annual Conference, the Association’s flag will be handed over to the organizers of the next Annual Conference.

48. The Association may, in any way deemed appropriate, support other conferences and events. It is up to the Council to make the final decision on any specific request or proposal in this field. The Association particularly promotes the organization of Regional Conferences when they are held in a region different from the venue of the Annual Conference held the same year.


49. The Association shall produce a Newsletter at regular intervals. The aim of the Newsletter shall be to keep Members informed of the general progress of maritime economics, to assist them in their contacts with other Members and to keep them informed about the affairs of the Association.

50. The Editor of the Newsletter shall be appointed by the Council and be responsible to it. Material appearing in the Newsletter need not necessarily reflect the views of the Association or of its Members. However, the Editor of the Newsletter reserves the right not to publish certain articles or news items, if they can harm the Association. The Council will make a final decision about the appropriateness of certain contributions to the Newsletter in case there is a clear disagreement between Editor and contributor(s) on this issue.

51. The Association shall support one or more journals in ways to be determined by Council in consultation with Members.

52. The Council may support any magazines, journals, web pages or other electronic communication methods as it wishes to enhance the aims and objectives of the Association and continued education and development of its Members.


53. The working language for meetings, proceedings and publications of the Association shall be English. The Council is empowered to waive this restriction in particular cases.


54. The foregoing Articles may only be amended, altered, supplemented or deleted in accordance with the procedure laid down in Articles 17 and 18 (Extraordinary General Meeting).