IDEAS home Printed from https://ideas.repec.org/a/ers/journl/vxxviy2023i4p737-754.html
   My bibliography  Save this article

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

Author

Listed:
  • 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
    as

    Download full text from publisher

    File URL: https://ersj.eu/journal/3323/download
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    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), Democritus University of Thrace (DUTH), Kavala Campus, Greece, 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), Democritus University of Thrace (DUTH), Kavala Campus, Greece, vol. 8(2), pages 19-34, October.
    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. Andrzej S. Grzelakowski, 2023. "Costs and Benefits of the Disruptions Caused by the Pandemic Crisis and the Container Shipping Market’s Turbulences and their Allocation within the Global Supply Chains: An Analytical Approach," European Research Studies Journal, European Research Studies Journal, vol. 0(3), pages 133-151.
    2. Czeslawa Christowa, 2023. "Safety Management in Polish Seaports: Identification and Analysis of Threats," European Research Studies Journal, European Research Studies Journal, vol. 0(4), pages 615-631.
    3. Dariusz Bernacki, 2021. "Revealing the Impact of Increased Tanker Size on Shipping Costs," European Research Studies Journal, European Research Studies Journal, vol. 0(1), pages 604-621.
    4. Nurul Hidayah & Wahyudin Zarkasyi, 2017. "The Effect of Human Resources Management Competency and the Role of Culture on Accrual Accounting Implementation Effectiveness and the Impact on Quality of Accounting Information," European Research Studies Journal, European Research Studies Journal, vol. 0(4B), pages 183-199.
    5. Anis Chariri & Indira Januarti, 2017. "Audit Committee Characteristics and Integrated Reporting:Empirical Study of Companies Listed on the Johannesburg Stock Exchange," European Research Studies Journal, European Research Studies Journal, vol. 0(4B), pages 305-318.
    6. Zaneta Kielanowicz & Tomasz Wnuk-Pel, 2023. "Financial Processes Automations’ Impact on the Work of Management Accountants," European Research Studies Journal, European Research Studies Journal, vol. 0(3), pages 61-77.
    7. Marcinkowska Elzbieta & Sawicka Joanna, 2023. "Corporate Social Responsibility as a Factor Influencing Purchasing Decisions of Consumers in Central and Eastern Europe," European Research Studies Journal, European Research Studies Journal, vol. 0(4), pages 281-299.
    8. Isabella Damdinovna Elyakova & Aleksandr Andreyevich Khristoforov & Aleksandr Lvovich Elyakov & Larisa Ivanovna Danilova & Tamara Aleksandrovna Karataeva & Elena Vladimirovna Danilova, 2017. "Forecast Scenarios of World Prices for Natural Gas," European Research Studies Journal, European Research Studies Journal, vol. 0(4A), pages 284-297.
    9. Alexander Lvovich Elyakov & Isabella Damdinovna Elyakova & Larisa Ivanovna Danilova & Alexander Andreevich Khristoforov & Oleg Ilich Kondratev & Valentina Vasilyevna Grigoryeva, 2017. "History and Prospects of Natural Gas Pricing in Continental Europe in Conditions of Instability of World Oil Prices," European Research Studies Journal, European Research Studies Journal, vol. 0(4A), pages 323-338.
    10. George C. Bitros, 2016. "Ocean Shipping: By Far the Best Growth Model for Greece," European Research Studies Journal, European Research Studies Journal, vol. 0(1), pages 44-58.
    11. Ilona & Urbanyi-Popiolek, 2023. "Development of the Ferry and Ro-Ro Industry in an Uncertain Environment," European Research Studies Journal, European Research Studies Journal, vol. 0(4), pages 855-864.
    12. Mike P. Hanias & Lykourgos Magafas, 2013. "Predicting the Production of Total Industry in Greece with Chaos Theory and Neural Networks," European Research Studies Journal, European Research Studies Journal, vol. 0(2), pages 59-67.
    13. Budi Frensidy & Irene Josephine & Ignatius Roni Setyawan, 2019. "Price Formation around Dividend Announcement Date: Empirical Evidence in Indonesian Stock Exchange," European Research Studies Journal, European Research Studies Journal, vol. 0(3), pages 106-118.
    14. Alexander Mikhailovich Batkovskiy & Viktor Antonovich Nesterov & Olga Olegovna Reshetova & Elena Georgievna Semenova & Alena Vladimirovna Fomina, 2017. "Dynamic Model of Optimal Production Control in a Hysteretic Behaviour of Economic Agents," European Research Studies Journal, European Research Studies Journal, vol. 0(2A), pages 355-379.
    15. Yulia Vladimirovna Gnezdova & Victoria Viktorovna Glekova & Nasrullah Abdurakhmanovich Adamov & Alexander Nikolaevich Bryntsev & Tatyana Andreevna Kozenkova, 2017. "Development Prospects of the Transport Infrastructure of Russia in the Conditions of Development of the Market of Transport and Logistic Services," European Research Studies Journal, European Research Studies Journal, vol. 0(4A), pages 619-631.
    16. Brikota T.B. & Delenyan B.A. & Ksenz M.V. & Fedorova N.B., 2018. "Prospects for the Development of Sea Transport of the Russian Federation in World Trade," European Research Studies Journal, European Research Studies Journal, vol. 0(Special 2), pages 823-832.
    17. Dimiter Nenkov Nenkov, 2016. "An Analytical Approach to Comparing Actual Vs. 'Fundamental Price-to-Sales' and “Enterprise Value-to-Sales†Ratios on the European Stock Market," International Journal of Economics & Business Administration (IJEBA), International Journal of Economics & Business Administration (IJEBA), vol. 0(4), pages 32-49.
    18. Panagiotis Mantalos & Kyriacos Mattheou & Alex Karagrigoriou, 2010. "Vector autoregressive order selection and forecasting via the modified divergence information criterion," International Journal of Computational Economics and Econometrics, Inderscience Enterprises Ltd, vol. 1(3/4), pages 254-277.
    19. Agus Suroso & Ade Irma Anggraeni & Andriyansah, 2017. "Optimizing SMEs’ Business Performance Through Human Capital Management," European Research Studies Journal, European Research Studies Journal, vol. 0(4B), pages 588-599.
    20. Panji Priyanto & Titik Aryati, 2023. "The Effect of Earning Management, Growth Opportunity, and Capital Structure on Company Value with Audit Quality as Moderating Variable," International Journal of Economics & Business Administration (IJEBA), International Journal of Economics & Business Administration (IJEBA), vol. 0(1), pages 133-148.

    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

    Statistics

    Access and download statistics

    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:ers:journl:v:xxvi:y:2023:i:4:p:737-754. 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: Marios Agiomavritis (email available below). General contact details of provider: https://ersj.eu/ .

    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.