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Vernon's product life cycle and maritime innovation: Specialised shipping in Bergen, Norway, 1970-1987

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  • Stig Tenold

Abstract

One of the most important developments in the post-war shipping industry has been the introduction of specialised ship types that have gained market shares in the transport of a large number of cargoes. The share of specialised tonnage in the Norwegian fleet increased from less than 1% in 1960 to more than 30% by 1987. This trend towards increased specialisation did not occur to the same extent in all maritime centres. In an international perspective, Norwegian owners held a large share of the new specialised ships. This can partly be explained within the framework of the Vernon product life cycle. However, even within Norway there were substantial differences in the degree of investment in specialised tonnage. Specifically, a disproportionate share of the specialised Norwegian ships was owned by shipping companies in the city of Bergen. In 1977 Bergen companies owned around 13% of the aggregate Norwegian fleet, but more than 40% of the specialised tonnage. The Bergen presence was particularly strong in two segments; chemical tankers and open hatch bulk shipping. Through closer studies of the companies involved it becomes evident that three factors - co-operation between individual companies, vertical integration and technological innovation - can explain Bergen's strong position within specialised shipping.

Suggested Citation

  • Stig Tenold, 2009. "Vernon's product life cycle and maritime innovation: Specialised shipping in Bergen, Norway, 1970-1987," Business History, Taylor & Francis Journals, vol. 51(5), pages 770-786.
    • Handle: RePEc:taf:bushst:v:51:y:2009:i:5:p:770-786
    DOI: 10.1080/00076790903125560
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    Cited by:

    1. Amdam, Rolv Petter & Benito, Gabriel R.G., 2022. "Temporality and the first foreign direct investment," Journal of World Business, Elsevier, vol. 57(5).

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