Ship Acquisition of Shipping Companies by Sale & Purchase Activities for Sustainable Growth: Exploratory Fuzzy-AHP Application

Abstract

Strengthening sale and purchase (S&P) capacity has become a fundamental requirement for sustainable growth and corporate competitiveness in the modern shipping market. However, there is a lack of research related to S&P and its priority when shipping companies attempt to implement ship acquisition through S&P activities. To fill this gap, this paper conducts an empirical analysis to analyze priority factors during the acquisition of second-hand ships from the perspective of shipping companies. Business criteria are considered to be the most important factors in the analysis of the priority of ship acquisition and investment in shipping companies. To the best of our knowledge, this research is the first exploration covering Korean shipping companies' ship acquisition through S&P activities. This study is expected to contribute to the better understanding of the role of S&P in ensuring the sustainability of shipping companies and to provide stakeholders with valuable insights.

Analyzing Public Travel Demand by a Fuzzy Analytic Hierarchy Process Model for Supporting Transport Planning

“…AHP approach was extensively applied by academics and professionals in many fields and problems, mainly in engineering fields like transport engineering field (Farooq et al 2019;Ghorbanzadeh et al 2019;Duleba, Moslem 2018;Chowdhury et al 2018;Balaji et al 2019;Duleba et al 2012Duleba et al , 2013, in construction engineering field (Kumar et al 2018;Hatefi, Tamošaitienė 2018), in architecture (Abastante et al 2018;Haghighathoseini et al 2018) and in many different engineering fields (Gupta 2018;Murat et al 2016;Tan et al 2014). However, AHP approach has some restrictions and to overcome these limitations many researchers integrate fuzzy theories with AHP approach for providing more reliable and robust results (Chen et al 2018;Grošelj, Zadnik Stirn 2018;Park et al 2018).…”

“…Using the FAHP -AHP with other integrated models are being used widely in the transportation field and other fields to support the decision makers in the designated fields. For instance, Ngossaha et al (2017) used FAHP to conduct a framework allows the decision maker to choose the most eco-responsible policy among other alternatives, Park et al (2018) conducted an evidence-based approach to analyse priority factors during the acquisition of second-hand ships from the angle of shipping corporations, while Ruiz-Padillo et al (2018) assessed neighbourhoods by evaluating the walkability problems. Gao et al (2018) evaluated the competitiveness of a Chinese port based on related criteria, the study focused on the future strategic plans' Chinese ports.…”

Sustainable Urban Transport Development by Applying a Fuzzy-AHP Model: A Case Study from Mersin, Turkey

“…However, the AHP approach creates and deals with a very unbalanced scale of judgment, and it does not take into account the uncertainty associated with the mapping of human judgment to a number by natural language [34]; the ranking of the AHP method is rather imprecise, and subjective judgment by perception, evaluation, improvement and selection based on the preference of decision-makers has a great influence on the AHP results. To overcome these problems, several researchers have integrated fuzzy theory with AHP to improve its outcomes; furthermore, the fuzzy sets provide more efficient and real results because they mimic human reasoning [35][36][37][38][39][40].…”

Optimization of Decision Making in the Supply of Medicinal Gases Used in Health Care

“…Buckley suggested the geometric mean method from Equations ( 4) and ( 5) [60] for calculating the fuzzy weights of each FPV and utilities for the scale levels of each descriptor. An example of their application can be seen in Park et al [71].…”