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Global Maritime Container Carriers' Mid-term Strategies as a Tool for Change Management in the Post-Covid Era

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  • Andrzej S. Grzelakowski

Abstract

Purpose: The basic aim of the research is to: 1/ identify the main market and regulatory challenges currently faced by global maritime container operators and try to assess them and 2/ indicate the current forms of operational activities and mid-term development strategies of the container shipping carriers in terms of efficient managing such a significant change. Design/Methodology/Approach: At conducting this research, the following methods were applied: factor analysis (FA), market analysis (MA), critical narrative review of few current papers, as well as in-depth analysis of many reports, experts’ opinions and statistical data. In addition, a structured interview was conducted with representatives of five leading container shipowners having their branch offices in Poland. Findings: The research results indicate that: 1/ appreciable decline in demand for container transport by sea followed by significant reduction in freight and contract rates, resulted in a sharp decrease in the revenues of sea carriers, and seriously deepened the uncertainty regarding the possibility of continuing adopted by them in the Covid era strategies, 2/ in addition to significant market challenges, the implementation of existing strategies is also at risk as a result of new regulatory solutions regarding the shipping decarbonization and energy transformation as well as the expiry of the CBER from 2024, 3/ in the face of new regulatory and market challenges, the container shipping carriers are forced to take strategic actions in the field of change management in line with the goals set by regulatory authorities. Practical Implications: The results of the study indicate that currently existed design of the global container shipping market in its advanced oligopolistic form may change significantly, evolving gradually towards a more competitive and friendly for shippers and forwarders structure. Originality/Value: The obtained research results may constitute the basis for filling the currently existing theoretical, methodological and application gap in the field of change management of an unprecedented scope and nature in the container transport segment, contributing to the theory of management sciences. This kind of research can contribute to enriching the knowledge on functioning the maritime container transport markets in a period of ongoing radical changes in its regulatory system as well.

Suggested Citation

  • Andrzej S. Grzelakowski, 2023. "Global Maritime Container Carriers' Mid-term Strategies as a Tool for Change Management in the Post-Covid Era," European Research Studies Journal, European Research Studies Journal, vol. 0(4), pages 737-754.
    • Handle: RePEc:ers:journl:v:xxvi:y:2023:i:4:p:737-754
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    References listed on IDEAS

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    1. Andrzej S. Grzelakowski, 2022. "Global Container Shipping Operators’ Strategies Under the Extremely Turbulent Market Dynamic Environment: An Analytical Approach," European Research Studies Journal, European Research Studies Journal, vol. 0(3), pages 682-696.
    2. Vicky Zampeta & Gregory Chondrokoukis, 2022. "An Empirical Analysis for the Determination of Risk Factors of Work-Related Accidents in the Maritime Transportation Sector," Risks, MDPI, vol. 10(12), pages 1-15, December.
    3. Stavros H. Arvanitis & Irakleia S. Tzigkounaki & Theodoros V. Stamatopoulos & Eleftherios I. Thalassinos, 2012. "Dynamic Approach of Capital Structure of European Shipping Companies," International Journal of Business and Economic Sciences Applied Research (IJBESAR), International Hellenic University (IHU), Kavala Campus, Greece (formerly Eastern Macedonia and Thrace Institute of Technology - EMaTTech), vol. 5(3), pages 33-63, December.
    4. Eleftherios I. Thalassinos & Mike P. Hanias & Panayiotis G. Curtis & Yannis E. Thalassinos, 2009. "Chaos theory: forecasting the freight rate of an oil tanker," International Journal of Computational Economics and Econometrics, Inderscience Enterprises Ltd, vol. 1(1), pages 76-88.
    5. Vicky Zampeta, 2015. "The Impact of Corporate Governance and the Cost of Capital in Shipping," International Journal of Business and Economic Sciences Applied Research (IJBESAR), International Hellenic University (IHU), Kavala Campus, Greece (formerly Eastern Macedonia and Thrace Institute of Technology - EMaTTech), vol. 8(2), pages 19-34, October.
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    More about this item

    Keywords

    Container shipping market; international regulatory challenges; smart and sustainable shipping strategy; container shipping decarbonization.;
    All these keywords.

    JEL classification:

    • D01 - Microeconomics - - General - - - Microeconomic Behavior: Underlying Principles
    • L13 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - Oligopoly and Other Imperfect Markets
    • M21 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Economics - - - Business Economics
    • R41 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Transportation Economics - - - Transportation: Demand, Supply, and Congestion; Travel Time; Safety and Accidents; Transportation Noise

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