Shipping, Trade and Finance

On November 7, 2007, the Lord Mayor of the City of London and Chancellor of City University, John Stuttard, announced at Mansion House the establishment of the Onassis Prizes in Shipping, Trade and Finance. The announcement was made to an audience of Deans of City University and distinguished members of the international business, shipping and academic communities.

The Onassis Prizes in Shipping, Trade and Finance are awarded every three years to eminent and internationally acclaimed members of the academic and scientific community for their academic and research work in the sectors of shipping, trade and finance. The prize recognizes academic achievements by leading academics who, in the past, did not have a platform for world-wide recognition. The prizes are accompanied by a monetary award of 200,000 US dollars each.

The members of the prize committee for the period 2005-2016 are:

  • Anthony S. Papadimitriou, President of the Alexander S. Onassis Public Benefit Foundation
  • Professor George Constantinides, Professor of Finance, University of Chicago
  • Professor Charles Goodhart, Professor Emeritus, London School of Economics
  • Professor Robert Merton, Professor of Finance, Massachusetts Institute of Technology (Nobel Laureate 1997)
  • Professor Myron Scholes, Frank E. Buck Professor of Finance, Emeritus, Stanford Graduate School of Business (Nobel Laureate 1997)
  • Professor Costas Grammenos, CBE, DSc. Founding Director of the Centre for Shipping, Trade and Finance, Cass Business School.
For further information concerning the prize, please contact:
1. Contact person in England:
City University
Marlene Stapleton
Email: m.v.stapleton@city.ac.uk
Tel: 0044 207 040 8651

2. Contact person in Greece: Onassis Foundation, Frederique Hadgiantoniou,
Email: ffp@onassis.gr
Tel: 0030 210 37 13 018

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The International Centre for Shipping, Trade and Finance was founded in 1983 by Costas Grammenos at London's Cass Business School, City University London, to develop postgraduate studies in shipping, trade and finance, offering the first specialist MSc degrees in these disciplines.

The Centre has undertaken pioneering research in shipping finance, shipping risk management, commodity trade and finance and logistics. It has also established a platform for international dialogue between academics, businessmen and policy makers. Since inception, the Centre has turned out over 2,200 graduates from more than 90 countries. Many of them hold leading positions in international banking, shipping and trading, and manufacturing. It has provided a forum for international dialogue between industry, government and academic leaders as well as undertaking applied research through its staff, MSc and PhD students.

Cass Business School, City University, London, delivers innovative, relevant and forward-looking education, training, consultancy and research. Located on the doorstep of one of the world's leading financial centres, Cass is perfectly positioned to be the intellectual hub of the City of London.

Our dialogue with business shapes the structure and content of all our programmes of study, our executive education programmes and our research. Our MBA, Specialist Masters and Undergraduate Programmes have a reputation for excellence in professional education. Our Executive MBA is ranked 2nd in the UK and 18th in the world by the Financial Times. The school undertakes research of national and international significance and supports almost 100 PhD students. Cass has one of the largest Finance Faculties and the largest Actuarial Science and Insurance Faculty in Europe. Our finance research is ranked 2nd in Europe and 4th in the world outside the US by Financial Management Magazine and our insurance and risk research is ranked 2nd in the world by the Journal of Risk and Insurance.

Cass is a place where students, academics, industry experts, business leaders and policy makers can enrich each other's thinking. For further information visit: www.cass.city.ac.uk

The City of London

The City of London, under the supervision of the Lord Mayor, provides local government services for the Square Mile, the financial and commercial heart of Britain, and is committed to maintaining and enhancing the status of the business City as the world's leading international financial and business centre through its policies and services. Its responsibilities also extend far beyond the City boundaries and include management of the Barbican Centre, Central Criminal Court at the Old Bailey, 10,000 acres of open space including Hampstead Heath and Epping Forest, three wholesale food markets, as well as acting as the London Port Health Authority. www.cityoflondon.gov.uk.

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Onassis Prize for Finance 2018
•    Douglas W. Diamond, Merton H. Miller Distinguished Service Professor of Finance, Booth School of Business, University of Chicago

Onassis Prize for International Trade 2018 (shared)
 • Jonathan Eaton, Distinguished Professor of Economics, Department of Economics, Pennsylvania State University
 • Samuel S. Kortum, James Burrows Moffatt Professor of Economics, Yale University

Onassis Prize for Shipping 2018 (shared)
 • Mary R. Brooks, Professor Emerita, Rowe School of Business, Dalhousie University, Chair of the Marine Board of the National Academies, Washington DC
• Wayne K. Talley, Professor of Maritime and Supply Chain Management, Acting Head of the Shipping Institute and Eminent Scholar, Strome College of Business, Old Dominion University


Onassis Prize for Finance 2015

Two academics - Professor Stewart Myers and Professor Richard Roll – shared the 2015 Onassis Prize for Finance.

Onassis Prize for International Trade 2015

Professor Gene Grossman of Princeton University has received the 2015 Onassis Prize for International Trade. Professor Grossman has received the Onassis Prize for International Trade in recognition of his outstanding contributions to strategic trade policy, environmental economics and the economics of offshoring.

Onassis Prize for Shipping 2015

Two academics – Emeritus Professor Trevor Heaver and Dr Martin Stopford – shared the 2015 Onassis Prize for Shipping.

The prizes ceremony was held on Monday, September 14, 2015 at the Guild Hall and was followed by a series of academic speeches on Tuesday, September 15, 2015.


Onassis Prize for Finance 2012

The 2012 Onassis Prize for Finance has been awarded to Professor Stephen Ross from the MIT Sloan School of Management. Professor Ross is best known for having invented ‘arbitrage pricing theory’ and the ‘theory of agency’. He is also celebrated as the co-discoverer of ‘risk neutral pricing’ and of the ‘binomial model’ for pricing derivatives.

Onassis Prize for International Trade 2012

Professor Elhanan Helpman of Harvard University has received the 2012 Onassis Prize for International Trade.  Professor Helpman is widely acclaimed for his role in founding the ‘new trade’ and ‘new growth’ theories, which emphasise the roles of economies of scale and imperfect competition, and for his work on special interest politics.

Onassis Prize for Shipping 2012

Three emeritus academics – Professors Ernst Frankel, Richard Goss and Arnljot Stromme Svendesn - share the 2012 Onassis Prize for Shipping.

Ernst Frankel, Professor of Mechanical and Ocean Engineering at Massachusetts Institute of Technology, has been a prominent figure in both shipping and academia during a career spanning almost 70 years.In that time he has published 23 books, hundreds of academic papers and served as President of the International Association of Maritime Economists.

Professor Richard Goss of Cardiff University has conducted extensive research in the field of shipping competition and port governance, much of which is still widely influential today. In a survey of the seminal maritime thinkers of the last century, Professor Goss was found to be more prolific than any other researcher in the port field. He was also instrumental in setting up the International Association of Maritime Economists in 1992.

Professor Arnljot Stromme Svendsen has been with the Norwegian School of Economics and Business Administration since he began his career there in 1948. He has built a name as one of the world’s most respected maritime academics and is an Honorary President of the International Association of Maritime Economists.

The winners of the 2012 Onassis Prizes, awarded to the world’s foremost academics in the fields of finance, international trade and shipping, were announced on Tuesday 8 May 2012 at Mansion House in London.


Onassis Prize for Finance 2009

The first Onassis International Prize in Finance was bestowed in April 2009 on Eugene Fama, Professor of Finance at the University of Chicago, who is recognized as the father of empirical finance.

Professor Fama is recognised as the father of empirical finance, and is credited with being the inventor of the efficient market hypothesis, possibly the most influential financial theory to have impacted both academics and practitioners alike.The efficient market hypothesis says that stock prices reflect all available information.

Professor Fama also gave a lecture at the Cass Business School on Thuesday the 28th of April, 2009 entitled Evaluating the Cross Section of Estimates for Mutual Funds.

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