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Firm Growth and Market Concentration in Liner Shipping

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  • Meifeng Luo
  • Lixian Fan
  • Wesley W. Wilson

Abstract

Since its introduction in the 1950s, containerised shipping has grown dramatically. Accompanying this growth has been a substantial growth in concentration. In this paper, we theoretically identify the effects of firm growth on concentration, and then examine the determinants of firm growth using panel data methods. We find that growth rates depend on firm size and attributes such as its average vessel size and the rate of growth in demand, that the growth patterns of the top firms point to a clear trend of increasing concentration in the industry, and that they are dramatically enhanced by mergers and acquisitions. © 2014 LSE and the University of Bath

Suggested Citation

  • Meifeng Luo & Lixian Fan & Wesley W. Wilson, 2014. "Firm Growth and Market Concentration in Liner Shipping," Journal of Transport Economics and Policy, University of Bath, vol. 48(1), pages 171-187, January.
    • Handle: RePEc:tpe:jtecpo:v:48:y:2014:i:1:p:171-187
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    Cited by:

    1. Nguyen Tran & Hans-Dietrich Haasis, 2014. "Empirical analysis of the container liner shipping network on the East-West corridor (1995–2011)," Netnomics, Springer, vol. 15(3), pages 121-153, November.
    2. Olaf Merk & Antonella Teodoro, 2022. "Alternative approaches to measuring concentration in liner shipping," Maritime Economics & Logistics, Palgrave Macmillan;International Association of Maritime Economists (IAME), vol. 24(4), pages 723-746, December.
    3. Peng, Wenhao & Bai, Xiwen, 2022. "Prospects for improving shipping companies’ profit margins by quantifying operational strategies and market focus approach through AIS data," Transport Policy, Elsevier, vol. 128(C), pages 138-152.
    4. Fan, Lixian & Gu, Bingmei & Yin, Jingbo, 2021. "Investment incentive analysis for second-hand vessels," Transport Policy, Elsevier, vol. 106(C), pages 215-225.
    5. Gong, Xiaoxing & Wu, Xiaofan & Luo, Meifeng, 2019. "Company performance and environmental efficiency: A case study for shipping enterprises," Transport Policy, Elsevier, vol. 82(C), pages 96-106.

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