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Article
Publication date: 11 October 2018

Ping Wang and Joan Mileski

This study aims to promote strategic maritime management as a new emerging discipline to foster research in strategic maritime issues.

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Abstract

Purpose

This study aims to promote strategic maritime management as a new emerging discipline to foster research in strategic maritime issues.

Design/methodology/approach

An existing academic discipline maturity model is adapted by including four phases of dynamic evolutionary paths to evaluate the phase of maturity of a research discipline. The model is validated by means of two matured disciplines: strategic management and maritime economics.

Findings

It is found that the current research of strategic maritime management is at a phase of emergence of discipline and ready to move to the maturity phase. It is also found that the evolution of the path of strategic maritime management resembles the early evolution path of strategic management but lags 30 years behind. Future research directions of strategic maritime management can be referred to the research streams in the maturity phase of strategic management.

Research limitations/implications

The adapted academic discipline maturity model brings in the longitudinal and dynamic perspectives of the evolution of an academic discipline, which helps maritime strategists identify gaps and opportunities and evaluate the appropriateness of applying a strategic management paradigm to a specific research topic.

Originality/value

The adapted academic discipline maturity model brings in the longitudinal and dynamic perspective of the evolution of an academic discipline, which helps maritime strategists define the gaps and opportunities in strategic maritime management research.

Article
Publication date: 20 January 2020

Adam Abdullah, Rusni Hassan and Salina Kassim

The purpose of this paper is to provide a real asset management investment appraisal of the performance of containerships as a primary segment within international shipping, to…

Abstract

Purpose

The purpose of this paper is to provide a real asset management investment appraisal of the performance of containerships as a primary segment within international shipping, to facilitate Islamic equity investment through a shipping fund. The objectives are to evaluate the risks and returns of shipping under the framework of Islamic equity finance, and to analyze the performance of investing in containerships over the long term, to appeal to retail and institutional clients of Malaysian asset management institutions.

Design/methodology/approach

Accordingly, the methodology adopts an investment analysis of a full population of historical data over a period of 20 years, to evaluate performance involving a maritime return on investment (MROI), internal rate of return (IRR), net yield and standard deviation measures of risk and return.

Findings

The findings reveal that while earnings are volatile in comparison to capital market expectations, unlevered, tax-free returns on containership investments outperform financial and other real assets.

Research limitations/implications

Shipping is a strong growth industry with about 84 per cent of global trade carried out by the international shipping industry. The problem is that many Islamic asset management institutions and investors have essentially no exposure to Islamic investment in international shipping.

Practical implications

However, shipping is a highly capital-intensive industry, and currently 75 per cent of ship lending has been conducted by European banks and financed on a conventional basis. Post-financial crisis, ship owners, ship lenders and shipyards have all been exposed to the impact of over-levered balance sheets and debt finance. There is a demand for alternative sources of finance.

Social implications

By communicating risk and reward more effectively, retail and institutional investors, as well as Islamic finance institutions, will realize that the social benefit of equity finance on the basis of profit sharing is more efficient at allocating investible resources than debt finance at interest, thereby increasing investment and economic growth.

Originality/value

The significance is that Islamic equity finance, rather than debt at the time-value of money, should enhance the development of international shipping.

Details

Journal of Islamic Accounting and Business Research, vol. 11 no. 1
Type: Research Article
ISSN: 1759-0817

Keywords

Content available
Book part
Publication date: 29 August 2017

Abstract

Details

The Handbook of Business and Corruption
Type: Book
ISBN: 978-1-78635-445-7

Article
Publication date: 24 August 2021

Shahrin Osman, Balan Sundarakani and Torger Reve

This article analyses the role of cluster facilitators in the Singapore maritime cluster. Singapore has been recognised for its pro-business policies and its ability to attract…

Abstract

Purpose

This article analyses the role of cluster facilitators in the Singapore maritime cluster. Singapore has been recognised for its pro-business policies and its ability to attract international shipping companies to set up the ship ownership headquarters and ship management activities in Singapore.

Design/methodology/approach

The research is an empirical investigation on the approach for industrial cluster development of the Singapore maritime cluster, using the case study research methodology. The case study approach leverages on multiple sources of evidence from deep interviews (of 24 Singaporean firms and 13 Norwegian firms) related observations, documentation and archival records. As a means of contributing to the cluster renewal process, Singapore as the country embarks on the next stage of maritime cluster development, a benchmarking against the Norwegian Innovation Cluster has been incorporated.

Findings

The research findings reveals that Singapore is lacking in innovation activities that entails multi-firms collaborations and collaboration between multi-firms and research institutions. The existence of cluster organisation to facilitate collaborations between firms in the cluster and between firms in the cluster with research institutions is another contributing factor that are not institutionalised in the Singapore maritime cluster.

Research limitations/implications

Though the research is grounded primarily on the international business theory, particularly from firm- and country-specific advantages of location decisions, the economic geography theory and cluster theory also complement the theoretical grounding.

Practical implications

The findings derived from this research aim to facilitate policy makers, maritime leaders and practitioners to develop effective courses of action in current and future maritime industry development.

Originality/value

The research provides value to maritime industry stakeholders, maritime leaders and policy makers in their firm positioning strategy. Thus, the research adds values to the maritime industry with similar country perspectives and firm values for developing policies.

Details

Benchmarking: An International Journal, vol. 29 no. 5
Type: Research Article
ISSN: 1463-5771

Keywords

Article
Publication date: 26 February 2021

Hatice Akpinar and Didem Ozer-Caylan

This study aims to review and try to understand the importance of complexity management for maritime business to gain competitiveness in global business environment. The purpose…

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Abstract

Purpose

This study aims to review and try to understand the importance of complexity management for maritime business to gain competitiveness in global business environment. The purpose of the study is to discuss and evaluate managing change and requirements of understanding the complexity management.

Design/methodology/approach

To find peer-reviewed journal publications, a large scientific database used by searching Web of Science and Scopus as the most relevant abstract and citation databases that provide peer-reviewed literature data for many different academic disciplines and selected papers evaluated from the maritime business context.

Findings

As a conceptual paper, the contribution of the study is to offer practical/required management applications with the help of six proposes for making better management decisions to confront future challenges to catch organizational competitiveness and success. With adaptation of complexity management, maritime stakeholders able to create an important core competency.

Research limitations/implications

The research has some limitations and further research into this area should be extended. This study is designed as a first step to provide an insight to the field and to understand the main views of the subject. Subsequently, complexity management in maritime business is a slightly deficient area of research, which offers remarkable research opportunities. First, it would be fruitful to collect qualitative data to examine the current issues and changing business environment of the maritime business. Second, it would be helpful develop quantitative models to offer practical solutions from the maritime stakeholders’ point of view according to loading/discharging/transportation requirements. Future studies should deepen the subject with the help of simulation models of operations or agent based applications of stakeholder problems or vessel/ship-owner management implementations to understand changing circumstances of new business environment for the sake of managing complexity.

Practical implications

As the core point of view in strategic management; “achieving and sustaining” competitive advantage in organizations always takes an important place in organizational survival. With the help mentioned proposes stakeholders of the system could understand the ways of dealing with the complexities of new business world which enhances organizational competitiveness.

Social implications

Maritime business could be defined as a social ecosystem which has it is own dynamics and customs. Socio-eco systems, like all complex systems, show unique non-linear dynamics in space and time which could be tough to define via classical quantitative methods. Organizations co-exist and co-evolve with their environment. It is possible that organizations effect their environment and gain some control over it while at the same time affected from environment and should steer the new trends.

Originality/value

The originality of the study lies in highlighting the importance of change management as a handler of complexity management for maritime business. The contribution of the paper is to indicate expected opportunities and challenges of smart changes for relevant readiness of maritime business for better management decisions, benefiting maritime business stakeholders by simultaneously enhancing effectiveness to confront future demands to achieve organizational competitiveness. With the help of proper complexity management lenses organizations could able to create their source of competitive advantage that represents capacity to align and enable required functions under tough contextual environment.

Details

Competitiveness Review: An International Business Journal , vol. 32 no. 4
Type: Research Article
ISSN: 1059-5422

Keywords

Book part
Publication date: 25 September 2023

Daphne Halkias, Mark Esposito, Tatiana Harkiolakis, Jordi Diaz and Nicholas Mmaduabuchi Ikpogu

The global shipping industry has been rocked by a wave of disruptive innovation driven by a thriving ecosystem of digital technology start-ups that have emerged in the last few…

Abstract

The global shipping industry has been rocked by a wave of disruptive innovation driven by a thriving ecosystem of digital technology start-ups that have emerged in the last few years and set up offices in Greece. After the appearance of COVID-19, entrepreneurial leadership has grown in importance for guiding commercial shipping through times of exceptional circumstances. The problem is that there is a lack of understanding of the experiences of Greek digital entrepreneurs launching their tech start-ups within the maritime sector – from the initial vision to a real-world innovative business disruptor. We aim to answer the questions of who the Greek digital entrepreneur in the maritime sector is and how their entrepreneurial actions contribute to a growing knowledge base of digital entrepreneurship for future theoretical research and professional practice. This single-subject, archival case study demonstrates the social and commercial value of the “who” and “how” of digital entrepreneurship in the maritime sector through the case of Harbor Lab, an Athens-based start-up that disrupted the maritime industry through innovative use of emerging technologies to calculate disbursements (port expenses) and through the establishment of a horizontal, empathetic, open workplace culture. The outcomes of this study contributed a fresh perspective of scholarly knowledge on digital entrepreneurship for future theoretical research and professional practice.

Details

Entrepreneurship Development in the Balkans: Perspective from Diverse Contexts
Type: Book
ISBN: 978-1-83753-455-5

Keywords

Article
Publication date: 9 May 2023

Ercan Akan

The aim of this study is to provide a holistic analysis of all possible maritime business logistics processes related to import and export shipments in a fuzzy environment through…

Abstract

Purpose

The aim of this study is to provide a holistic analysis of all possible maritime business logistics processes related to import and export shipments in a fuzzy environment through a case study of a maritime logistics company based on the as-is and to-be models within business process management (BPM).

Design/methodology/approach

The analyses considered the following perspectives: (i) in the stage of the process identification, the definition of the problem was carried out; (ii) in the stage of the process discovery, ocean department was divided into ocean export/import operation departments; ocean export/import operation were divided into freight collect/prepaid operation processes; ocean export/import logistics activity groups were broken down into sub-activities for freight collect/prepaid operation; the logistics activity groups and their sub-activities were defined; each sub-activity as either operation or documentation process group was classified; the durations of sub-activities were evaluated by decision-makers (DMs) as fuzzy sets (FSs); the monthly total jobs activities were estimated by DMs as FSs; the applied to monthly jobs activities of total shipments were estimated by DMs as FSs; the durations of each sub-activities were aggregated; the duration of the logistics activity groups and the sub-activities for per job were calculated; the cumulative workload of logistics activity groups and sub-activities were calculated; the duration of sub-activities for per job as operation or documentation departments were calculated, (iii) in the stage of the process analysis, cumulative ocean export/import workload as operation or documentation for freight collect/prepaid were calculated; duration of activity groups and sub-activities for per job as operation or documentation were calculated; cumulative workload activity groups and sub-activities as operation or documentation were calculated, (iv) in the stage of the process redesign, cumulative workload, process cycle time as operation and documentation group and required labor force were calculated; the process cycle time of the theoretical, the as-is model and the to-be model were calculated: (i) the theoretical minimum process cycle time without resource were calculated by the critical path method (CPM), (ii) the process cycle time of the as-is model perspective with the 1 person resource constraint and (iii) the process cycle time of the to-be model perspective with the 2-person resource constraint were calculated by the resource constrained project scheduling problem (RCPSP) method.

Findings

The methodology for analyzing the ocean department operation process was successfully implemented in a real-life case study. It is observed that the results of the to-be model can be applicable for the company. The BPM-proposed methodology is applicable for the maritime logistics industry in the present study; however, it can be applied to other companies in maritime logistics as well as other industries.

Originality/value

This study contributes to research using BPM methodology in maritime logistics. This is the first study the logistics process analyses were carried out in terms of including all operation processes for a company. All processes were analyzed by using BPM methodology in maritime logistics. This study demonstrated the application of the BPM as-is and to-be models to maritime logistics. The as-is and the to-be models of the BPM methodology were applied in maritime logistics.

Research implications

This methodology applied in this study can enable organizations operating in the time-urgent maritime logistics sector to manage their logistics processes more efficiently, increase customer satisfaction, reduce the risks of customer loss due to poor operational performance and increase profits in the long term. Through the use of these methodologies utilizing FSs, the CPM and the RCPSP methods, this study is expected to make contributions to the BPM literature and provide original insights into the field. Furthermore, this study will undertake a comprehensive analysis of maritime logistics with respect to BPM to deliver noteworthy contributions to the maritime logistics literature and provide original perspectives into the field.

Article
Publication date: 31 March 2022

Hatice Akpinar and Didem Özer-Çaylan

One of the common solutions to the business problems, disruptions and new developments of the global world is enhancing the resilience of systems, countries and organizations…

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Abstract

Purpose

One of the common solutions to the business problems, disruptions and new developments of the global world is enhancing the resilience of systems, countries and organizations. Applying resilience differs according to business environments and context-based requirements of industries, which create a lack of consensus regarding how to achieve and apply it. To fill this gap and answer the main question, this study proposes to handle the resilience concept from an organizational perspective. By using an organizational point of view this study aims to offer an applicable philosophy that can be used by a wide range of stakeholders.

Design/methodology/approach

The main question of the study is to figure out whether “Is there any approach/lens to achieve resilient organizations which can be applied by the stakeholders of the system.” To reach such a “common application/approach” where the stakeholders can reach a consensus, a systematic literature review has been conducted to determine the existing approaches and practices.

Findings

The contribution of the study lies in two folds: to offer a maritime business resilience definition from the organizational point of view and to show the requirement of organizational resilience management philosophy in the maritime business context. An applicable framework is offered for the stakeholders of the maritime business transport system.

Research limitations/implications

The research has some limitations. This study is designed on a systematic review to figure out existing approaches used in the maritime business field and to defend and prove the necessity of organizational resilience management philosophy in maritime business management which helps organizational survival. Further research should use different methods to empirically test the conceptual model according to different segments/stakeholders of the maritime industry. Also, this research opens a new field of study about resilience subject from the maritime context where organizational approach mentions hardly any. Therefore, future studies should investigate developing key performance indicators of components of the proposed model and its effects on maritime organizations.

Practical implications

As a volatile industry, increasing resilience capability helps maritime organizations to decrease the effects of disruptions while at the same enable them to operate the core business functions in the maritime business. Maritime business needs to solve not only one-time problems but also needs to resolve and exploit new opportunities from disruptions via resilient management philosophy, which help organizational adaption in fluctuating periods. To prevent such problems and become ready for complex environmental changes, organizational resilience management philosophy is vital.

Social implications

Organizational resilience offers maritime business a holistic approach to evaluate problems of the system by submitting multiple ways to handle problems that help to manage uncertainty and change. Resilient management philosophy enables maritime business organizations to fight against their vulnerabilities that create risk, especially in a turbulent business environment.

Originality/value

The originality of the study lies in highlighting the importance of organizational resilience management philosophy in the maritime business context. And an organizational resilience framework is offered.

Article
Publication date: 2 March 2023

Hatice Akpinar and Didem Ozer Caylan

Business environments and global transportation system have become more complex than ever due to complexity drivers of industries which create uncertainty and unpredictability to…

Abstract

Purpose

Business environments and global transportation system have become more complex than ever due to complexity drivers of industries which create uncertainty and unpredictability to organizations. Like other industries, the maritime business faces different and difficult problems which threaten organizational survival. The ability to cope with those uncertainties, threats and problems shows the resilience ability of organizations that help to survive and prosper. The organizational resilience concept arises as a requirement to deal with problems and uncertainties of business environments which are swiftly changing. This study aims to suggest an organizational framework to show how maritime business organizations as the sea leg of global transportation system can develop resilient organizations via complex adaptive systems (CAS) approach if adequate design features of CAS could be defined and included in organizational properties.

Design/methodology/approach

A total of 15 CAS features were identified as the enablers of organizational resilience throughout the literature. An interpretive structural modeling (ISM) approach has been conducted to determine the mutual relation between the CAS features which constitute an organizational framework. These CAS features have been categorized by conducting MICMAC analysis.

Findings

This study proposes a framework that identifies CAS features as the enabler of resilient maritime business organizations. The CAS approach offers new managerial toolkit to realize current organizational situations and allows managers to understand that it is difficult to control their system in this dynamic environment where special management practices are required especially in volatile times rather than ordinary times. Also, organizations could not compete as a sole organization but as a web/system of organizations. CAS is more resilient than other systems because resilience is the emergent occurrence of the system formed from nonlinear, dynamic interactions with self-organized agents.

Research limitations/implications

The research has some limitations, like organizational resilience studies are in the infant stage and further research into this area should be extended. This study uses the CAS approach to develop organizational resilience. Further studies could use different lenses and contemporary subjects in management field which should also be useful while developing resilience in organizations. This study uses ISM and MICMAC analysis where further studies could use quantitative design and methods like formal concept analysis or the decision making trial and evaluation laboratory to determine the relational weighs of CAS features while developing resilient organizations. Future studies may also focus on different maritime stakeholders like IMO or ILO, maritime agencies, freight forwarders or insurance underwriters regarding developing and enhancing resilience of the maritime system.

Practical implications

World trade and transportation systems are getting more uncertain and lean on complex relations where maritime transportation is a “vital backbone” of such operations. But becoming more complex structures leads to vulnerable systems and organizations. Most risk management applications are based on predicting the known risks where many of them are not enough to fight with unknowns. Coping with today's problems are difficult for organizations in any industry. But for maritime business stakeholders who work in such a global web of relations, it is much more challenging. So, stakeholders of the system like forwarders, ports or ship chandlers may easily apply those features to develop resilient organizations too. Legal authorities of the system and rule-makers like local Chambers of Shipping, IMO or Classification societies can benefit from this framework and provide supportive settings to develop system-wide resilient organizations.

Social implications

By understanding environmental uncertainty and complexity better than others, organizations become resilient and cope with significant difficulties which make them more competitive as a substantial strategic advantage. Resilient management offers to break down points at the system and shows them ways to restore quickly while transporting goods while traditional risk assessments are not enough.

Originality/value

The originality of the study lies in two folds; first of all the key and most used features of CAS is linked to developing resilient maritime organizations and by maritime expert opinions, this study tries to determine which of these CAS features are the most effective to trigger other features to develop organizational resilience in the maritime business. And secondly, the concept of organizational resilience and the CAS approach are not analyzed in depth in the context of maritime business.

Details

Business Process Management Journal, vol. 29 no. 3
Type: Research Article
ISSN: 1463-7154

Keywords

Book part
Publication date: 12 January 2012

Jasmine Siu Lee Lam

This study aims to critically review and analyse the classification of supply chain risks and disruptions and thereby suggest a suitable method for classifying maritime risks. It…

Abstract

This study aims to critically review and analyse the classification of supply chain risks and disruptions and thereby suggest a suitable method for classifying maritime risks. It aims to discuss the propagation effects of port disruption on the supply chain and mitigation strategies.

In addition to secondary research, six semi-structured interviews were conducted with the management personnel of two terminal operators, two shipping lines and two insurance companies.

When a port disruption happens, the most immediate impact is the adverse effects on terminal operations. It also leads to a domino effect on other parties in the supply chain including shippers and consignees, shipping companies, inter-modal transport providers and other ports. Proper risk management needs to be embraced by the supply chain members. However, there is very little or no such collaboration between the supply chain members in practice.

This article proposes a more integrative approach in assessing various kinds of risks, and more research in this area to be done for Asia.

Risk management has been the concern for many stakeholders ranging from industry practitioners to the people who are affected by the maritime business throughout the world. The maritime industry should look into risk management in the maritime logistics and supply chain context instead of dealing with risk in isolation.

There is a serious lack of research for analysing supply chain disruptions with ports as a focal point. The paper contributes by filling the research gap.

Details

Maritime Logistics
Type: Book
ISBN: 978-1-78052-340-8

Keywords

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