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Article
Publication date: 9 February 2015

Nikolaos Otheitis and Martin Kunc

Seaborne trade accounts for 90 per cent of world’s total trade activity. Ship management is a highly skilled discipline with a high degree of complexity yet it has failed…

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Abstract

Purpose

Seaborne trade accounts for 90 per cent of world’s total trade activity. Ship management is a highly skilled discipline with a high degree of complexity yet it has failed to follow with the same pace the advancements of performance measurement systems (PMSs) like other industries. Business performance measurement has only recently become a relevant topic in shipping. The purpose of this paper is to evaluate the adoption of PMS in the shipping industry.

Design/methodology/approach

A questionnaire was developed based on the performance measurement literature and submitted to 100 shipping companies around the world obtaining 41 usable questionnaires covering 13 countries from Europe, Asia and America.

Findings

The adoption of performance measurement differs based on type of business: liquid bulk (tanker) vessels and bulk carriers or containers. Quality and safety management systems have fostered the adoption of performance measurement positively in tankers impacting decision making and the performance of shipping companies using PMS.

Research limitations/implications

While the sample is representative of the situation of the industry, it represents the results of one point in time.

Practical implications

The use of PMSs can be a tool to achieve superior performance but it may be fostered by, and has to be aligned with the needs of, internal and external stakeholders. Early adopters in the shipping industry are among the leaders in the industry.

Originality/value

The paper is a unique contribution to performance measurement since it explores the adoption of PMSs and its impact in performance at industry level in a global industry.

Details

Management Decision, vol. 53 no. 1
Type: Research Article
ISSN: 0025-1747

Keywords

Article
Publication date: 14 February 2022

Jie Ying Chua, Ryan Foo, Kim Hock Tan and Kum Fai Yuen

This study aims to study the resilience of the maritime industry by analyzing the impacts of COVID-19 on the maritime industry, in particular, on the shipping management…

Abstract

Purpose

This study aims to study the resilience of the maritime industry by analyzing the impacts of COVID-19 on the maritime industry, in particular, on the shipping management aspect and offshore sector, investigate the effectiveness of current solutions and recommend future solutions for the industry to reduce or mitigate the negative impacts.

Design/methodology/approach

In order to better appreciate resilience in the maritime industry, the study conducted secondary research and semi-structured online interviews to (1) identify the impacts of COVID-19 on the shipping management and offshore sector, (2) analyze the effectiveness of current solutions and (3) provide some strategies to enhance the effectiveness of the current measures.

Findings

he results are congruent with existing literature which indicate that the pandemic has negatively affected the global economy, changed the global trade network and contributed to the sharp decline in demand for oil. In response to the pandemic, governments have implemented safety and health-related measures such as lockdown, safe-distancing and travel restrictions. Often, measures differ from countries to countries and these non-standardized and changing regulations further increase the challenges faced by the industry. From the shipping management perspective, the industry experienced issues such as crew changing, trade contraction and the expiration of shipping certificates, which supported and validated current research. Meanwhile, the offshore industry is challenged by the increasing market volatility and uncertainty, increasing need to source for alternative fuels and the declining oil exploration activities. Current strategies adopted by shipping management companies include crew change management, capacity management and the extension of ship certificates, whereas offshore industry chose to collaborate with oil majors.

Research limitations/implications

By identifying the impacts and challenges and studying the effectiveness of solutions adopted by the maritime industry, this paper allows maritime industry stakeholders and policymakers to develop strategies to mitigate the effects of the global health crisis and strengthen the resilience of the industry. However, as the pandemic continues to develop and evolve, strategies need to be reviewed continuously in response to the changing situations.

Originality/value

This research analyses the impacts and solutions in response to the COVID-19 pandemic, which contributes to the development and formulation of strategies to strengthen the resilience of maritime transport.

Details

Continuity & Resilience Review, vol. 4 no. 1
Type: Research Article
ISSN: 2516-7502

Keywords

Abstract

Details

Shipping Company Strategies
Type: Book
ISBN: 978-0-08-045806-9

Content available
Article
Publication date: 30 June 2016

Kai Wang, Shuaian Wang, Lu Zhen and Xiaobo Qu

This paper aims to conduct a review on cruise shipping and the cruise shipping industry. The current trends are analyzed for the industry, showing that this industry is…

15984

Abstract

Purpose

This paper aims to conduct a review on cruise shipping and the cruise shipping industry. The current trends are analyzed for the industry, showing that this industry is still young and has great potential to boom. Meanwhile, the Asia market is the fastest growth region among the global, to which increasing cruise ships are repositioned by major cruise lines. However, for such a promising industry, the literature review on some state-of-the-art research works suggests that the research works that have been conducted for the cruise shipping are quite limited, and the majority of the works belongs to empirical and descriptive studies, which does not provide optimization-based quantitative analysis on some operation planning problems.

Design/methodology/approach

This paper conducts a review on cruise shipping and the cruise shipping industry.

Findings

In reality, there are some important operation planning problems faced by cruise lines or cruise ships, and four of them are addressed in this paper in response to the fast growing trend. The addressed operation planning problems are cruise fleet management, cruise ship deployment, cruise itinerary design and cruise service planning.

Originality/value

The importance and the attention for the research on the problems are also elaborated in the paper.

Details

Maritime Business Review, vol. 1 no. 2
Type: Research Article
ISSN: 2397-3757

Keywords

Book part
Publication date: 10 June 2011

Mohammad A. Ali

Globalization has created conditions in which business has become increasingly global. The combined effect of global business, intense competition, weakening of labor…

Abstract

Globalization has created conditions in which business has become increasingly global. The combined effect of global business, intense competition, weakening of labor unions, and the inability of national governments to control the negative effects of globalization has created immense difficulties in the formulation and implementation of global labor standards. This research takes an ancient industry with a long tradition of international features and regulations, that is, the maritime industry, as a case study to understand the dynamics associated with the regulation of a global industry. The study argues that J. R. Commons' works at the turn of the century not only give us excellent insights into the creation of global markets and the need for global labor rights protection but also provide us with a solution, that is, the creation of an “authoritative commission.” Finally, the study suggests that there is a need to enhance the role of ILO as a global “commission” to regulate the industry. Presently, the ILO does not have the essential features for becoming such a commission. Therefore, ILO should develop three important characteristics: ability to include new emerging actors, decision-making based on consensus and dialogue, and sanction power to implement its standards. Based on the above principles, ILO can work as the center of a global regulatory regime in the maritime industry. Through its power of sanction, it will implement its standards mainly through states. But, at the same time, it will network with unions and NGOs and all other important actors in the industry at local, national, and global levels to detect and eradicate substandard shipping.

Details

Advances in Industrial and Labor Relations
Type: Book
ISBN: 978-0-85724-907-4

Keywords

Article
Publication date: 11 July 2019

Andreas Andrikopoulos, Andreas Georgakopoulos, Anna Merika and Andreas Merikas

This paper aims to explore the effect of interlocking directorates on agency conflicts and corporate performance in the shipping industry.

Abstract

Purpose

This paper aims to explore the effect of interlocking directorates on agency conflicts and corporate performance in the shipping industry.

Design/methodology/approach

The authors use social network analysis to discover central nodes in the network of personal and corporate connections in an international sample of 110 listed shipping companies.

Findings

Assessing network structure, the authors find that the network of corporate leaders is denser than the network of shipping companies. The network of shipping companies is populated with many isolated nodes; the network of shipping executives and directors is populated with many cohesive groups in which the longest distance between two corporate leaders is two companies. The authors find that interlocking corporate leadership can help resolve agency conflicts in the shipping industry, bearing a negative effect on the magnitude of agency costs. The extent of leadership overlaps is associated with board size, financial leverage and profitability. The relationship between profits and interlocks is bidirectional, implying that interlocking directorates bear a positive effect on asset returns.

Originality/value

The authors map the relational structures in the social networks of companies and company leaders in the shipping industry and discover the cross-sectional determinants of interlocks in the shipping industry. The finding about the effect of interlocks on profitability and agency costs bears policy implications for the design of corporate governance in the shipping industry.

Details

Corporate Governance: The International Journal of Business in Society, vol. 19 no. 4
Type: Research Article
ISSN: 1472-0701

Keywords

Article
Publication date: 8 May 2017

Youngran Shin, Vinh Van Thai, Devinder Grewal and Yulseong Kim

As the concept of corporate sustainable management activities (CSMA) has become an increasingly important element of corporate management, much attention has been paid to…

2992

Abstract

Purpose

As the concept of corporate sustainable management activities (CSMA) has become an increasingly important element of corporate management, much attention has been paid to its impact on customer relationship. Although there exists many studies concentrating mainly on the environment aspect of CSMA, only a few address the three dimensions of CSMA (environmental, social and economic) and examine their comprehensive impact on relationship marketing. In an attempt to fill this gap, the purpose of this paper is to empirically investigate the influence of CSMA on customer satisfaction (CS), word of mouth intention (WOMI) and repurchase intention (RI).

Design/methodology/approach

The data come from 214 shipping industry practitioners (shippers, freight forwarders and third party logistics service providers in South Korea). Structural equation modeling (SEM) is employed to test the impact of CSMA on CS, WOMI and RI.

Findings

Based on a survey conducted in South Korea, the findings indicate that environmental and economic aspects of CSMA play a significant role in enhancing CS and the enhanced CS positively affects WOMI and RI.

Research limitations/implications

As the field data were obtained from only one industry, future replication of the findings to other industries should consider industry-specific factors, if applicable.

Practical implications

The results highlight several implications for shipping industry practitioners to consider when establishing the strategy for effective corporate sustainable management to enhance CS.

Originality/value

This study is one of the first empirical attempts to explore how CSMA affects CS in the shipping industry. In addition, this paper empirically investigates the influence of CS on WOMI and RI.

Details

The International Journal of Logistics Management, vol. 28 no. 2
Type: Research Article
ISSN: 0957-4093

Keywords

Article
Publication date: 15 June 2010

Haifeng Wang

The Greehouse Gas (GHG) in the shipping industry has attracted increasing attention. One potential method to reduce the GHG mitigation cost is the Clean Development…

Abstract

Purpose

The Greehouse Gas (GHG) in the shipping industry has attracted increasing attention. One potential method to reduce the GHG mitigation cost is the Clean Development Mechanism (CDM). The purpose of this paper is to identify factors that may increase or hinder the CDM in the shipping industry and provide policy implications.

Design/methodology/approach

The paper is an extension and application of the methodology first published by Wang and Firestone in Energy for Sustainable Development. The gravity model in international trade theory is used. The econometric model is employed for the analysis.

Findings

Larger project endowment, higher government efficiency, high‐quality expertise and infrastructure may play roles in increasing CDM in the shipping industry. The promotion of small‐scale projects, upgrade of the infrastructure, assistance of technologies and knowledge overseas can help the shipping industry and small countries to attract more CDM.

Originality/value

The paper is among the first work to describe and analyze potential barriers for the international shipping industry to use the CDM. It also suggests a set of measures to address the policy options to promote CDM in the shipping industry and small developing countries.

Details

Management of Environmental Quality: An International Journal, vol. 21 no. 4
Type: Research Article
ISSN: 1477-7835

Keywords

Article
Publication date: 27 July 2021

Mutaju Isaack Marobhe

The purpose of this study is to examine the impact of the corona virus (COVID-19) pandemic on stock returns of listed cargo shipping companies.

Abstract

Purpose

The purpose of this study is to examine the impact of the corona virus (COVID-19) pandemic on stock returns of listed cargo shipping companies.

Design/methodology/approach

The author employs the events study methodology to examine this phenomenon. A sample of 49 listed cargo shipping companies in the container, dry bulk and tanker sub-sectors from Asia, North America, and Europe was selected and their daily closing stock prices from 1st January 2020 to 31st December 2020 were utilized.

Findings

The results reveal that there was an overall negative overreaction to the announcement by World Health Organization (WHO) that declared COVID-19 a pandemic. The approvals of USD 857 billion stimulus package by the European Union (EU) and Pfizer vaccine by Food and Drug Administration (FDA) in USA received slight positive reactions. The Greek, Singaporean and Taiwanese shipping stocks were the least affected stocks as their respective shipping industries remained resilient during 2020.

Research limitations/implications

This study provides evidence to confirm the fact that COVID-19 has affected stock markets; however the impact is un parallel among cargo shipping stocks of different countries.

Originality/value

The majority of studies have conducted country level analyses of the COVID-19 and stock market performance phenomenon. However, there have been sectoral disparities in terms of their susceptibility to economic shocks from COVID-19. This study's focal point is on the cargo shipping sector which synonymous with other sectors has not been immune to the current pandemic. The study also extends the timeline of events to incorporate those from June to December 2020.

Details

Review of Behavioral Finance, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1940-5979

Keywords

Article
Publication date: 2 May 2017

Andrejs Čirjevskis

This paper aims to add to the understanding of dynamic capabilities (DC) as sources of competitive advantage of successful Asian-Pacific shipping companies by…

Abstract

Purpose

This paper aims to add to the understanding of dynamic capabilities (DC) as sources of competitive advantage of successful Asian-Pacific shipping companies by demonstrating that DC development unfolds in three steps, from recognition that the environment has changed, to the decision to deploy DC, to assets re-orchestration.

Design/methodology/approach

Based on an approach involving two illustrative case studies, the author analyzed DC development of Chinese and Singaporean-based shipping groups in depth. The analysis was centered on DC by investigating how strategic decision-making on vertical integration, diversification and implementation of new technologies can be underpinned by developing DC to create sustained advantages.

Findings

The author found that strategic components of DC are rooted in strategic decision-making to initiate changes on the corporate and even on an operational level.

Research limitations/implications

While capability development is thoroughly studied, capability erosion has not been integrated into the research. The exploration of human capital as a firm’s idiosyncratic resource in assets orchestration capabilities can be future work.

Practical implications

The proposed research contributes to the debate on micro foundations of DC and provides insights for practitioners striving for retaining competitive advantages.

Social implications

Regarding implications for the society, the research shows how the DC serve to generate competitive advantages. The author has presented a logical structure of the competitive advantage paradigm as a product of DC and business models that can be useful to decision makers.

Originality/value

The research offers insights into the composition of micro foundations of DC and demonstrates that DC can be unbounded into well-known and concrete strategic and operational management activities.

Details

Journal of Asia Business Studies, vol. 11 no. 2
Type: Research Article
ISSN: 1558-7894

Keywords

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