What will be the fuel for future shipping industry?

正The new green energy sources,such as solar energy,wind energy and biofuel,have been used as alternative energy sources for traditional fossil fuels in energy,electricity and automobiles.Driven by the increasingly stringent rules and regulations of international maritime environmental protection,the     

Are there bubbles in the shipping freight market?

ABSTRACT

This paper addresses the reconsideration of price bubbles specific to the shipping freight market based on the method of the Generalized Supremum Augmented Dickey–Fuller (GSADF). This approach offers the opportunity to recognize multiple bubbles and set their corresponding original and final dates. Empirical results reveal that four bubbles existed in the shipping freight market between October 1988 and February 2018 in which freight deviated from fundamental values. Strong demand (especially in China), the supply capacity, crude oil prices and U.S. dollar fluctuations are potential explanations for the first three bubbles. The global financial crisis that burst in 2008 is the major factor results in the last bubble. Hence, we must distinguish the potential reasons of bubbles in different periods and take measures such as promoting economic multipolarization, strengthening the bargaining power of China, building an effective information transfer system, employing financial derivatives and accelerating the consolidation of the shipping industry to alleviate the negative influences on global seaborne trade.     

How can stakeholders promote environmental and social responsibility in the shipping industry?

The highly globalized and competitive nature of the shipping industry poses serious governance challenges. Recently, the use of voluntary measures, such as corporate social responsibility (CSR) initiatives, has been explored in terms of moving towards environmentally and socially responsible as well as safe shipping industry practices. Limited attention has been paid on the role of stakeholders such as consumers, employees, NGOs, and academia in pressuring the shipping industry towards greater environmental and social responsibility. Here, by applying stakeholder theory and drawing on examples of already materialized stakeholder actions and multi-stakeholder initiatives, we study the potential ways that stakeholders can promote CSR in the shipping industry: we explore the resource dependencies between stakeholders, the stakeholder influence strategies, and the importance of multi-stakeholder pressure. We show that stakeholders can gain more power by using indirect strategies such as working via and/or in alliances with NGOs, trade unions, banks and financers, and/or different national or international regulatory bodies, as well as with the industry itself. Our results reveal the potential of multi-stakeholder pressure and action to promote the adoption of CSR activities, support the transparency, legitimacy, and enforcement of the practices, as well as widen the scope and focus of CSR initiatives and practices by focusing on a broad range of social and environmental issues. Finally, stakeholder pressure can push towards improved regulations. The study suggests that increased attention needs to be paid on the multi-stakeholder demands, especially considering the accentuated importance of effective maritime governance in the future.     

Emerging organizational values in shipping: Part 4. Decentralization—the redefinition of authority in shipping company organization

Decentralization is a major theme of organizational change in shipping. It is often seen as ‘putting power back aboard ship’. However, the authors argue that this view is too simple. Decentralization poses fundamental questions about the entire management structure of the shipping company. The redistribution of authority necessary for decentralization is discussed in terms of the company organization structure.     

Emission reduction in international shipping—the hidden side effects

In order to curb the trend toward global warming, many technical, operational, and policy options have been proposed to help reduce the emissions from international shipping—the carrier for 80% of the world’s trade. However, these options might not only reduce emissions from shipping activities, but could also have a ripple effect on the whole supply chain of traded goods, as well as on those serving shipping activities. These effects could have both positive and negative impacts, not only on emission reduction, but also on world trade, economic efficiency, and the local environment. While most studies have examined the feasibility of the various options and their potential contribution to emission reduction, their secondary impacts have not been studied. However, failing to take them into account could very well obstruct the implementation of the options. Through a review of existing studies, this article aims to identify and explain some of these previously unexamined secondary effects that are associated with emission reduction in international shipping, point out the problems that will arise if they are ignored, and provide a basis for further detailed research in this area.     

Structural changes in logistics: how will port authorities face the challenge?

The market environment in which ports operate has changed dramatically, and this continuous process of change raises questions on the role of port authorities. This paper discusses the impact of some structural changes in international trade, transport and shipping on strategic and operational issues in the framework of port management. The central hypothesis put forward is that a successful port (authority), like a successful actor, must be prepared to constantly adopt new roles in order to cope with the changing market environment. The content and strategic scope of these new roles are highlighted, especially with regard to the European container port system.     

Determinants of Indian sub-continent officer–seafarer retention in the shipping industry

The retention of officer–seafarers within the international shipping industry is a difficult problem facing shipping and ship management companies. One strategic option open to all companies that should improve overall retention is to seek to become an employer of choice by providing an intellectual capital environment attractive to officer–seafarers. This is investigated through a survey of officer–seafarers covering areas where ship management can exercise some control over their working conditions. These cover recognition by their employer and commensurate rewards, organizational culture and structure and building relationships with external parties. Experienced Indian sub-continent officer–seafarers were the sample population resulting in more than 200 valid completions. These were analysed using correlation and regression. Although all hypotheses were in the predicted direction, only four passed the significance test: long-term career prospects, a smooth and fair recruitment process, a better relationship with maritime authorities and an employee-friendly organizational culture. Stepwise regression indicated that only organizational culture had a significant positive effect on intention to remain a seafarer. The items in the organizational culture construct accord with recommendations from the literature on becoming an employer of choice and improving employee retention, providing guidance for attracting and retaining officers.     

Market structures in coastal shipping: what to expect in Canada following the Comprehensive and Economic Trade Agreement with the European Union?

After several years of negotiation between Canada and the European Union, the Comprehensive and Economic Trade Agreement (CETA) was ratified in early 2017. The regime set out by the Canadian Coasting Trade Act that reserves shipments of cargo between Canadian ports to Canadian vessels remains mostly untouched under CETA. Minor, yet potentially significant, changes to the regime are introduced by the trade agreement. Provisions are made to liberalize the repositioning of empty containers within Canada. The liberalization of public markets now allows European firms to compete in the Canadian dredging market. Finally, EU vessels can undertake some transshipment activity in Canada but this is limited to international cargo on the specific Montreal-Halifax route. The paper attempts to highlight some possible CETA’s consequences for domestic Canadian shipping markets. It uses industrial economics analytical tools drawn from a Structure-Conduct-Performance (SCP) paradigm. From a literature review, it reconstructs different cases of deregulation that occurred internationally. The observed transformations are then characterized in terms of the SCP model. The paper identifies some common impacts which occurred in different transportation industries after a deregulation process. Using these findings, it concludes by discussing potential impacts for domestic shipping markets in Canada.     

Overseas trade vis-a-vis overseas shipping: Growth and performance in India (1999–2009)

Maritime trade has been and even continues to account for about a lion's share of India's total cargo volumes. Despite the growth of multimodal transport (by land, water and air), shipping still continues to be the major mode of transport in the bulk carriage of country's overseas trade. In view of this vital role of shipping, in the first four decades of independence, under the initiative of planned development and active government support, India's shipping and port sector saw dramatic growth in their performance to build adequate national fleet, in keeping up with the transport of overseas cargo. However, the onset of economic liberalization in 1991 has given rise to many new dimensions in the development of the shipping and port sector of the country with a significant redefinition of shipping and port services, in response to the new global trend patterns. For instance, it has also established the new era of containerization in the mode of cargo delivery from the dominance of the era of bulk and break-bulk trade during the decade of sixties and seventies. Moreover, as global competition increases, in response to this emerging trade patterns within this country, India's volume of traffic growth also increases manifold. So, India's shipping and port sectors need, significantly, to build up and furnish their capacity by increasing the frequency of this mode of transport i.e. the growth of the national overseas fleet to meet this surging demand. This paper, therefore, have focused on this role of shipping in such rising overseas trade, with a view to examine the shipping performance (the growth of overseas fleet) in response to the growing overseas trade at all ports of India during the period (1999–2000 to 2008–2009), in terms of both a mathematical model and a graphical representation. Finally, it concludes that the absolute overseas trade, being highly import dependent, have led to a more or less stagnant performance in overseas shipping, owing to the lack of the adequate growth of absolute overseas exports during this period.     

On the nature and sorces of controversy in the economic analysis of the liner shipping industry†

The simulations performed show that demand for quality tankers has to increase by 30% for a two-tier tanker market to emerge. The two-tier freight structure will only last for 3–5 years due to contracting induced by higher freight rates. This means that OPA does not by itself result in higher freight rates for tankers that comply with the requirements. If Western Europe also closes their trades to substandard tankers, a two-tier market emerges and quality tankers obtain a premium. The paper presents a simulation model for international tanker markets. The non-linear complementary equilibrium model solves for a sequence of static equilibria in segmented tanker freight markets, shipbuilding and scrapping markets. Freight markets are segmented according to quality requirements for tankers. The model specifies three tanker classes and one—quality tankers—can operate both market segments.     

Corporate social responsibility and service quality provision in shipping firms: financial synergies or trade-offs?

This study examines whether the implementation of corporate social responsibility (CSR) and provision of service quality (SQ) to satisfy shippers result in financial synergies or trade-offs for shipping firms. To address this question, a contingency framework was introduced in this study. The literature was first reviewed for hypotheses development, followed by interviews with eight industry practitioners. Subsequently, an internet survey was administered to 156 shipping firms in Singapore, and the obtained data were analysed using path model analysis and simple slope analysis. The results indicate that CSR complements SQ and provides additional but modest financial contribution to shipping firms via customer satisfaction. In addition, synergistic interactions between SQ and CSR were found. Although there are financial synergies from the implementation of CSR and provision of SQ, the analysis reveals that CSR should only be engaged when a shipping firm is fairly competent at delivering quality shipping services. This paper contributes to both theory and practice by framing business decisions on implementing CSR under contingency theory and offering a strategic approach to managing SQ as well as CSR of shipping firms.     

Liner shipping between East and West Europe: competitive developments in the Poland–United Kingdom trade

This paper provides an analysis of the development of the liner route between the UK and Poland and the activities of the two main operators—EuroAfrica of Poland and United Baltic Corporation of London. The most significant factors driving the development of this trade are analysed using a combination of an industrial survey and government statistics for the route, before going on to examine the threat to the trade presented by the growth of the trucking mode.     

Transformations and continuities of issues related to Chinese participation in the global seafarers’ labour market

Since the 1990s, Chinese seafarers have become a force to be reckoned with in the global seafarer labour market, particularly against the backdrop of the manning crisis. Compared with other groups of seafarers dominating the market such as the Filipinos and the Indians, they are commonly associated with perceptions of low cost, poor English skills, different safety/work culture, problems with the International Transport Workers’ Federation, etc. This article identifies transformations and continuities of problems related to Chinese seafarers in the global market in the last two decades or so by reviewing relevant Lloyd’s List reports as well as official documents and previous research. The review shows that Chinese authorities have been taking various initiatives to take advantage of the manning crisis and to expand and promote seafarer education, supply and export, which in general serve to make seafarers better educated and improve their communication skills. Although such initiatives have helped increase seafaring labour export, the success is nevertheless limited by tight government control on recruitment, which makes some foreign managers reluctant to employ Chinese seafarers.     

How do the new shipping routes affect Asian liquefied natural gas markets and economy? Case of the Northern Sea Route and Panama Canal expansion

This study focuses on the expected impact of Northern Sea Route (NSR) usage and the Panama Canal (PC) expansion on liquefied natural gas (LNG) imports of Asian countries, from not only the macroeconomic viewpoint but also diversification of the supplying countries. First, the amounts saved from shipping costs due to these events are estimated, based on scenarios on the navigable period of the NSR, transit fee of the NSR considering the exchange rate between the Russian ruble and US dollar, and bunker fuel price. Second, a spatial general equilibrium model based on macroeconomic theory is applied to predict changes in LNG trade patterns and measure economic impacts due to the reduction of shipping costs. Finally, the impacts of NSR usage as well as the PC expansion on LNG imports of Asian countries are discussed based on the calculations. The results show that diversification of supplying countries for LNG imports can be observed, especially in Japan, the largest LNG importer in the world, and other Asian countries are secondarily affected by changes in Japan’s import pattern, with limited impacts on these countries’ national economies.     

What can me learn from the accidents to Concorde and Kursk?

Part one Concorde-a story of State Owned Enterprises.... In the mythology of the ancient Greeks, from whom all the: "western" civilisations are descended, Achilles was the greatest warrior hero. He had an unfair advantage, because when he was a baby his mother, on the advice of a god, had dipped him in the river Styx, which rnagically made it impossible for any weapon to harm him. However, his mother     

An investigation of forecast horizon and observation fit’s influence on an econometric rate forecast model in the liner shipping industry

This paper evaluates the influence of forecast horizon and observation fit on the robustness and performance of a specific freight rate forecast model used in the liner shipping industry. In the first stage of the research, a forecast model used to predict container freight rate development is presented by exploring the relationship between individual company’s rates and aggregated market rates, and thus assists in dealing with uncertainty and market volatility for a given business situation. In the second stage, a design of experiment approach is applied to highlight the influence of the forecast horizon and observation fit and their interactions on the forecast model’s performance. The results underline the complicated nature of creating a suitable forecast model by balancing business needs, a desire to fit a good model and achieve high accuracy. There is strong empirical evidence from this study; that a robust model is preferable, that overfitting is a true danger, and that a balance must be achieved between forecast horizon and the number of observations used to fit the model. In addition, methodological guidance has also been provided on how to test, design, and choose the superior model for business needs.     

Can steel makers dance in the rhythm of the flourishing shipbuilding industry?

Global shipbuilding orders have expe- rienced a shift from Europe to Japan and then to South Korea, and the industry now undoubt- edly agrees that the next country to come is China. The fact is true for the developing trend of Chinese shipbuilding has mad…     

Are the innovation processes in seaport terminal operations successful?

The maritime and port sector is widely considered conservative concerning the ability to introduce innovation in respect to other industries. This may be due to the lack of cooperative interactions among the several players involved. It does not mean that innovation does not occur in this industry. Along with some technical innovations, managerial, organizational, and cultural innovations also take place in the sector. The literature has considered the assessment and effects of the adoption of particular innovation, but still few studies underline the innovation path in a broad sense with a specific focus on terminal operators. The present article aims at filling this gap through a field analysis grouping together case studies developed in different world regions and examining the adoption path of innovation through a mix of three different techniques (i.e. the H- and I-indexes, a Systems of Innovation Analysis, and a Qualitative Comparative Analysis). Research outcomes underline how, even if no unique recipe for success can be found, specific factors (e.g. a ranking of innovation objectives, coordination among actors, and institutions) can influence the achievement of success. The analyses allow suggesting strategic and policy advice that may help link in a better way the innovation drivers with their actual effects.     

Drops in the bucket? A review of onshore responses to Somali piracy

That piracy needs to be addressed onshore is a widely shared assumption. While the majority of counter-piracy measures focus on the sea, a number of onshore counter-piracy initiatives have been launched. We can observe the seeds of an alternative land-based policy approach. One set of land-based programs aims at strengthening the legal and security state apparatus to better deter and punish pirates. The other set of programs aims at addressing local populations on regional, clan or village levels. Such projects aim at increasing surveillance, sensitizing populations for the consequences of piracy, and providing rehabilitation or alternative livelihood opportunities. In this article, I review the latter type of projects and discuss the promises and difficulties of addressing piracy by such measures. I discuss five major problems: knowledge problems, implementation problems, counterintuitive consequences, tensions towards other parts of counter-piracy strategy, and the securitization of aid.     

Energy facility siting in the urban coastal zone: Compatible or not?

Abstract

Most federal and state coastal laws were framed with a distinct emphasis on preservation of rural/recreational areas. Yet in recent years a rural/urban coastal dichotomy has emerged. This has been especially prominent in the siting of energy facilities since these operations are often water dependent; power plants, for example, need huge amounts of cooling water, and offshore oil and gas extraction requires onshore support facilities. Recently, this issue has gained special prominence on the East Coast with the commencement of offshore oil and gas exploration. A case study was conducted in Hudson County, New Jersey, in New York harbor. In this area five oil‐related facility proposals were rejected from 1972 to 1976, primarily due to citizen opposition. Citizen activists now see the urban waterfront as a special place to which they want access and amenity uses rather than a continuation of past, almost exclusive industrial development. Hudson County citizens share the aspirations of those in several urban coastal areas which have experienced waterfront revitalization, including Baltimore, Boston, Chicago, Detroit, New Haven, Philadelphia, San Francisco, Seattle, and Toronto. Innovative siting which utilizes inland, rather than coastal, locations is suggested as one way to lessen urban/rural siting tensions.