IDEAS home Printed from https://ideas.repec.org/a/spr/josatr/v10y2025i1d10.1186_s41072-025-00199-y.html
   My bibliography  Save this article

On measuring competition in the ship management industry

Author

Listed:
  • Antonis A. Michis

    (Central Bank of Cyprus)

Abstract

We propose a revenue test model for measuring the level of competition in the ship management industry. In addition to revenues, the model incorporates information on the structure of expenditures required in ship management operations to estimate the Panzar–Rosse H-statistic emphasizing crew, technical and administrative expenses. Estimation results using data for Cyprus’s ship management industry for the period 2011–2023, suggest a market structure compatible with monopolistic competition. Furthermore, crew expenses provided the highest input factor elasticity and vessel portfolio size the most important revenue driver in the estimation procedure.

Suggested Citation

  • Antonis A. Michis, 2025. "On measuring competition in the ship management industry," Journal of Shipping and Trade, Springer, vol. 10(1), pages 1-18, December.
    • Handle: RePEc:spr:josatr:v:10:y:2025:i:1:d:10.1186_s41072-025-00199-y
    DOI: 10.1186/s41072-025-00199-y
    as

    Download full text from publisher

    File URL: http://link.springer.com/10.1186/s41072-025-00199-y
    File Function: Abstract
    Download Restriction: Access to the full text of the articles in this series is restricted.
    File URL: https://libkey.io/10.1186/s41072-025-00199-y?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. Michis, Antonis A., 2016. "Market concentration and nonlinear pricing in European banking," Journal of Economics and Business, Elsevier, vol. 85(C), pages 1-12.
    2. Michael Fusillo, 2006. "Some notes on structure and stability in liner shipping," Maritime Policy & Management, Taylor & Francis Journals, vol. 33(5), pages 463-475.
    3. Anthony Savagar & Oluwaseun Aguda & Yannis Galanakis & Jingwei Wu, 2024. "Market concentration and productivity: evidence from the UK," Fiscal Studies, John Wiley & Sons, vol. 45(4), pages 459-482, December.
    4. Huizhu Ju & Qingcheng Zeng & Hercules Haralambides & Yimeng Li, 2023. "An investigation into the forces shaping the evolution of global shipping alliances," Post-Print hal-04046276, HAL.
    5. Olaf Merk & Jan Hoffmann & Hercules Haralambides, 2022. "Post-COVID-19 scenarios for the governance of maritime transport and ports," Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers) hal-04046254, HAL.
    6. X. I. Loizidou & M. I. Loizides & D. L. Orthodoxou & D. Petsa, 2024. "Optimizing waste management for green shipping: industry commitment through participatory processes in Cyprus," Journal of Shipping and Trade, Springer, vol. 9(1), pages 1-24, December.
    7. Photis M. Panayides, 2003. "Competitive strategies and organizational performance in ship management," Maritime Policy & Management, Taylor & Francis Journals, vol. 30(2), pages 123-140, January.
    8. Pierre Cariou & Francois-Charles Wolff, 2011. "Ship-Owners' Decisions to Outsource Vessel Management," Transport Reviews, Taylor & Francis Journals, vol. 31(6), pages 709-724.
    9. Huizhu Ju & Qingcheng Zeng & Hercules Haralambides & Yimeng Li, 2023. "An investigation into the forces shaping the evolution of global shipping alliances," Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers) hal-04046276, HAL.
    10. Hercules Haralambides, 2023. "The state-of-play in maritime economics and logistics research (2017–2023)," Maritime Economics & Logistics, Palgrave Macmillan;International Association of Maritime Economists (IAME), vol. 25(3), pages 429-451, September.
    11. Antonis Michis & Anna Markidou, 2013. "Determinants of retail wine prices: evidence from Cyprus," Empirical Economics, Springer, vol. 45(1), pages 267-280, August.
    12. Antonis A. Michis & Guy P. Nason, 2017. "Case study: shipping trend estimation and prediction via multiscale variance stabilisation," Journal of Applied Statistics, Taylor & Francis Journals, vol. 44(15), pages 2672-2684, November.
    13. Markidou Anna & Michis Antonis, 2016. "Channel Concentration and Retail Prices: Evidence from the Traditional Cheese Market of Cyprus," Journal of Agricultural & Food Industrial Organization, De Gruyter, vol. 14(1), pages 109-119, May.
    14. Ulrike Malmendier & Alexandra Steiny Wellsjo, 2024. "Rent or Buy? Inflation Experiences and Homeownership within and across Countries," Journal of Finance, American Finance Association, vol. 79(3), pages 1977-2023, June.
    15. Olaf Merk & Jan Hoffmann & Hercules Haralambides, 2022. "Post-COVID-19 scenarios for the governance of maritime transport and ports," Post-Print hal-04046254, HAL.
    16. Kyriaki Mitroussi, 2004. "The ship owners’ stance on third party ship management: an empirical study," Maritime Policy & Management, Taylor & Francis Journals, vol. 31(1), pages 31-45, January.
    17. Dong-Wook Song & Photis M. Panayides, 2002. "A conceptual application of cooperative game theory to liner shipping strategic alliances," Maritime Policy & Management, Taylor & Francis Journals, vol. 29(3), pages 285-301.
    18. Dr. Kyriaki Mitroussi, 2003. "Third party ship management: the case of separation of ownership and management in the shipping context," Maritime Policy & Management, Taylor & Francis Journals, vol. 30(1), pages 77-90, January.
    19. Lu, Juan & Li, He & Guo, Feiyu, 2024. "Low-carbon mergers and acquisitions as a driver for higher energy efficiency: Evidence from China's high energy-consuming companies," Energy, Elsevier, vol. 290(C).
    20. Panayides, Photis M. & Wiedmer, Robert, 2011. "Strategic alliances in container liner shipping," Research in Transportation Economics, Elsevier, vol. 32(1), pages 25-38.
    21. Olaf Merk & Jan Hoffmann & Hercules Haralambides, 2022. "Post-COVID-19 scenarios for the governance of maritime transport and ports," Maritime Economics & Logistics, Palgrave Macmillan;International Association of Maritime Economists (IAME), vol. 24(4), pages 673-685, December.
    22. Photis M. Panayides & Richard Gray, 1999. "An empirical assessment of relational competitive advantage in professional ship management," Maritime Policy & Management, Taylor & Francis Journals, vol. 26(2), pages 111-125, April.
    23. Ardelean, Adina & Lugovskyy, Volodymyr, 2023. "It Pays to be big: Price discrimination in maritime shipping," European Economic Review, Elsevier, vol. 153(C).
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Pekka Leviäkangas & Lauri Ojala & Seong Mok Paik & Veikko Pekkala, 2023. "COVID-19 and the financial resilience of Finland’s seaports," Journal of Shipping and Trade, Springer, vol. 8(1), pages 1-20, December.
    2. Pierre Cariou & Patrice Guillotreau, 2022. "Capacity management by global shipping alliances: findings from a game experiment," Maritime Economics & Logistics, Palgrave Macmillan;International Association of Maritime Economists (IAME), vol. 24(1), pages 41-66, March.
    3. Mohammed, Ahmed & Yazdani, Morteza & Govindan, Kannan & Chatterjee, Prasenjit & Hubbard, Nicolas, 2023. "Would your company’s resilience be internally viable after COVID-19 pandemic disruption?: A new PADRIC-based diagnostic methodology," Transportation Research Part E: Logistics and Transportation Review, Elsevier, vol. 180(C).
    4. Mohammad Ghorbani & Michele Acciaro & Sandra Transchel & Pierre Cariou, 2022. "Strategic alliances in container shipping: A review of the literature and future research agenda," Maritime Economics & Logistics, Palgrave Macmillan;International Association of Maritime Economists (IAME), vol. 24(2), pages 439-465, June.
    5. Kunpeng Li & Jun-Yeon Lee & Amir Gharehgozli, 2024. "Blockchain implementation in the maritime industry: a literature review and synthesis analysis of benefits and challenges," Maritime Economics & Logistics, Palgrave Macmillan;International Association of Maritime Economists (IAME), vol. 26(4), pages 630-657, December.
    6. Lee, Chung-Yee & Song, Dong-Ping, 2017. "Ocean container transport in global supply chains: Overview and research opportunities," Transportation Research Part B: Methodological, Elsevier, vol. 95(C), pages 442-474.
    7. Jaeung Cha & Jinwoo Lee & Changhee Lee & Yulseong Kim, 2021. "Legal Disputes under Time Charter in Connection with the Stranding of the MV Ever Given," Sustainability, MDPI, vol. 13(19), pages 1-25, September.
    8. Hercules Haralambides, 2023. "The state-of-play in maritime economics and logistics research (2017–2023)," Maritime Economics & Logistics, Palgrave Macmillan;International Association of Maritime Economists (IAME), vol. 25(3), pages 429-451, September.
    9. Su-Han Woo & Hee-Seok Bang & Sally Martin & Kevin X. Li, 2013. "Evolution of research themes in Maritime Policy & Management—1973--2012," Maritime Policy & Management, Taylor & Francis Journals, vol. 40(3), pages 200-225, May.
    10. Pérez, Ivone & González, María Manuela & Trujillo, Lourdes, 2020. "Do specialisation and port size affect port efficiency? Evidence from cargo handling service in Spanish ports," Transportation Research Part A: Policy and Practice, Elsevier, vol. 138(C), pages 234-249.
    11. Song, Zhuzhu & Tang, Wansheng & Zhao, Ruiqing, 2021. "Liner alliances with heterogeneous price level and service competition: Partial vs. full," Omega, Elsevier, vol. 103(C).
    12. Michael J. Maloni & David M. Gligor & Ioannis N. Lagoudis, 2016. "Linking ocean container carrier capabilities to shipper–carrier relationships: a case study," Maritime Policy & Management, Taylor & Francis Journals, vol. 43(8), pages 959-975, November.
    13. Rau, Philipp & Spinler, Stefan, 2017. "Alliance formation in a cooperative container shipping game: Performance of a real options investment approach," Transportation Research Part E: Logistics and Transportation Review, Elsevier, vol. 101(C), pages 155-175.
    14. Wang, Junjin & Xu, Songjun & Wu, Lingxiao & Wu, Sihong & Liu, Yanping, 2024. "Multidimensional container shipping alliance decisions among competitors: Impact of capacity constraints and market competition," Transportation Research Part E: Logistics and Transportation Review, Elsevier, vol. 190(C).
    15. Chun, So Yeon & Kleywegt, Anton J & Shapiro, Alexander, 2011. "Revenue management in resource exchange seller alliances," MPRA Paper 34657, University Library of Munich, Germany.
    16. So Yeon Chun & Anton J. Kleywegt & Alexander Shapiro, 2017. "When Friends Become Competitors: The Design of Resource Exchange Alliances," Management Science, INFORMS, vol. 63(7), pages 2127-2145, July.
    17. Li, Lu & Wan, Yulai & Yang, Dong, 2024. "Do shipping alliances affect freight rates? Evidence from global satellite ship data," Transportation Research Part A: Policy and Practice, Elsevier, vol. 181(C).
    18. Hercules Haralambides, 2024. "The Red Sea crisis and chokepoints to trade and international shipping," Maritime Economics & Logistics, Palgrave Macmillan;International Association of Maritime Economists (IAME), vol. 26(3), pages 367-390, September.
    19. Daniele Crotti & Claudio Ferrari & Alessio Tei, 2020. "Merger waves and alliance stability in container shipping," Maritime Economics & Logistics, Palgrave Macmillan;International Association of Maritime Economists (IAME), vol. 22(3), pages 446-472, September.
    20. Arman Gülnur & Nikolaos Antypas, 2023. "Favourable funding conditions: friend or foe of shipping M&As?," Maritime Economics & Logistics, Palgrave Macmillan;International Association of Maritime Economists (IAME), vol. 25(4), pages 728-754, December.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:spr:josatr:v:10:y:2025:i:1:d:10.1186_s41072-025-00199-y. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Sonal Shukla or Springer Nature Abstracting and Indexing (email available below). General contact details of provider: http://www.springer.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.