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What price the flag? The terms of competitiveness in shipping

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  • Thanopoulou, Helen A

Abstract

The recovery of the markets in the late 1980s proved to be insufficient in restoring the traditional western registries to anywhere near their levels before the long period of crisis triggered off in 1973. The recent downturn in the dry bulk sector has triggered again the discussion on the role of manning costs and the terms of registration of ships. Yet, as demonstrated by the different impact of the crisis of the 1970s and the 1980s on the various major fleets, the resilience of shipping companies is a much more complex issue. This article attempts to assess to what extent the prerequisites for being competitive in shipping exceed the simple -- and simplistic -- notion of low manning costs; reviewing the last developments in fleet registration, with a special focus on the Greek flag, It highlights further the different context in which business and policy decisions have to be taken nowadays by traditional maritime nations.

Suggested Citation

  • Thanopoulou, Helen A, 0. "What price the flag? The terms of competitiveness in shipping," Marine Policy, Elsevier, vol. 22(4-5), pages 359-374, July.
    • Handle: RePEc:eee:marpol:v:22:y::i:4-5:p:359-374
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    Citations

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    Cited by:

    1. Zacharias G. Bragoudakis & Stelios Th. Panagiotou & Helen A. Thanopoulou, 2015. "Greek Shipping Earnings and Investment Expenditure: Exploring the Pre & Post "Ordering -Frenzy" Period," SPOUDAI Journal of Economics and Business, SPOUDAI Journal of Economics and Business, University of Piraeus, vol. 65(3-4), pages 3-28, july-Dece.
    2. Lee, Choong Bae & Wan, Junbin & Shi, Wenming & Li, Kevin, 2014. "A cross-country study of competitiveness of the shipping industry," Transport Policy, Elsevier, vol. 35(C), pages 366-376.
    3. Hercules E. Haralambides & Helen Thanopoulou, 2014. "The Economic Crisis of 2008 and World Shipping: Unheeded Warnings," SPOUDAI Journal of Economics and Business, SPOUDAI Journal of Economics and Business, University of Piraeus, vol. 64(2), pages 5-13, April-Jun.
    4. Pallis, Athanasios A., 2007. "Chapter 1 The Greek Paradigm of Maritime Transport: A View from Within," Research in Transportation Economics, Elsevier, vol. 21(1), pages 1-21, January.
    5. Zacharias G. Bragoudakis & Stelios Panagiotou & Helen Thanopoulou, 2013. "Investment strategy and Greek shipping earnings: exploring the pre & post "ordering-frenzy" period," Working Papers 157, Bank of Greece.
    6. Sangeeta Sonak & Mahesh Sonak & Asha Giriyan, 2008. "Shipping hazardous waste: implications for economically developing countries," International Environmental Agreements: Politics, Law and Economics, Springer, vol. 8(2), pages 143-159, June.
    7. Hoffmann, Jan & Sanchez, Ricardo J. & Talley, Wayne K., 2004. "6. Determinants Of Vessel Flag," Research in Transportation Economics, Elsevier, vol. 12(1), pages 173-219, January.
    8. Adland, Roar & Alger, Harrison & Banyte, Justina & Jia, Haiying, 2017. "Does fuel efficiency pay? Empirical evidence from the drybulk timecharter market revisited," Transportation Research Part A: Policy and Practice, Elsevier, vol. 95(C), pages 1-12.
    9. Tsamourgelis, Ioannis, 2007. "Chapter 5 Employment Practices and Greek Shipping Competitiveness," Research in Transportation Economics, Elsevier, vol. 21(1), pages 121-170, January.
    10. Thanopoulou, Helen A., 2007. "Chapter 2 A Fleet for the 21st Century: Modern Greek Shipping," Research in Transportation Economics, Elsevier, vol. 21(1), pages 23-61, January.
    11. Lagoudis, Ioannis N. & Theotokas, Ioannis, 2007. "Chapter 4 The Competitive Advantage in the Greek Shipping Industry," Research in Transportation Economics, Elsevier, vol. 21(1), pages 95-120, January.
    12. Yang, Yi-Chih, 2014. "Effect of shipping aid policies on the competitive advantage of national flagged fleets: Comparison of Taiwan, Korea and Japan," Transport Policy, Elsevier, vol. 35(C), pages 1-9.
    13. Alizadeh, Amir H. & Strandenes, Siri Pettersen & Thanopoulou, Helen, 2016. "Capacity retirement in the dry bulk market: A vessel based logit model," Transportation Research Part E: Logistics and Transportation Review, Elsevier, vol. 92(C), pages 28-42.

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