Shipping markets in turmoil: An analysis of the Covid-19 outbreak and its implications

Michail, Nektarios; Melas, Konstantinos D.

doi:10.1016/j.trip.2020.100178

Cited by 100 publications

(79 citation statements)

References 40 publications

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“…marine protected areas, speed limits, traffic separation schemes), socioeconomic changes, piracy, environmental changes or by cultural and political events 29 , 30 , 50 , 51 . For example, the fall in oil price in early 2020 likely contributed to the observed increases of tanker vessel traffic before the declines in oil demand due to COVID-19 52 , 53 and the re-routing of cargo ships to avoid Suez Canal tolls in favour of the longer journey via the Cape of Good Hope 54 . On the other hand, the shape of displacements in fishing vessels intensity suggests several annual shifts in the fishing grounds (e.g.…”

Section: Discussionmentioning

confidence: 99%

Tracking the global reduction of marine traffic during the COVID-19 pandemic

et al. 2021

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The COVID-19 pandemic has resulted in unparalleled global impacts on human mobility. In the ocean, ship-based activities are thought to have been impacted due to severe restrictions on human movements and changes in consumption. Here, we quantify and map global change in marine traffic during the first half of 2020. There were decreases in 70.2% of Exclusive Economic Zones but changes varied spatially and temporally in alignment with confinement measures. Global declines peaked in April, with a reduction in traffic occupancy of 1.4% and decreases found across 54.8% of the sampling units. Passenger vessels presented more marked and longer lasting decreases. A regional assessment in the Western Mediterranean Sea gave further insights regarding the pace of recovery and long-term changes. Our approach provides guidance for large-scale monitoring of the progress and potential effects of COVID-19 on vessel traffic that may subsequently influence the blue economy and ocean health.

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Section: Discussionmentioning

confidence: 99%

Tracking the global reduction of marine traffic during the COVID-19 pandemic

et al. 2021

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“…Specifically, explored how the capacity and dynamics of the transportation and shipping sector influenced during the lockdown, especially that transportation and shipping have affected other domains, such as food security, agriculture, food industry, meat, healthcare supplies and others (Gray, 2020;Loske, 2020;Vadavalli & Subhashini, 2018). One study has been carried to measure the impact of COVID-19 on transportation in Nigeria (Mogaji, 2020), and the other one measured the fright market in Germany (Michail & Melas, 2020). Moreover, a SWOT analysis was conducted in the air cargo industry in China (Li, 2020).…”

Section: Dynamic Of Supply Chain and Covid-19mentioning

confidence: 99%

What do we know about business and economics research during COVID-19: a bibliometric review

Alshater

Atayah

Khan

2021

Economic Research-Ekonomska Istraživanja

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The destructive COVID-19 has emerged as the most lethal disease and dented the global economies in every aspect. Consequently, a large amount of research emerged to understand the dynamics of COVID-19. Using meta-literature approach with combination of both bibliometric (quantitative) and content analysis (qualitative) approach, this study aims to present a comprehensive review of COVID-19 business-related research of 477 articles. The results reveal the most the most relevant and influential scientific aspects of the literature such as authors, articles, institutions, journals, and countries. We also identify intellectual structure within six streams: 1) COVID-19 and global economy, 2) Dynamics of COVID-19 in business and management research, 3) COVID-19 and financial markets, 4) COVID-19 and its implication for tourism & hospitality industry, 5) Dynamic of supply chain and COVID-19 and 6) COVID-19 and functionality of government. Lastly, the review of the literature helps us to identify the research gaps and present 62 future research directions.

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“…These perceived risks affect and shape the information behavior and the performance of shipping managers (Yin et al, 2019). Furthermore, an event such as the COVID-19 pandemic has the capacity to alter macroeconomic variables, shock market participants and augment uncertainty (Michail and Melas, 2020). A phenomenon of this type, which affects geopolitical factors, may noticeably influence global trade and shape decision-making in shipping companies (Kotcharin and Maneenop, 2020).…”

Section: Shipping Managers' Information Behaviormentioning

confidence: 99%

“…Only a few studies focus on the shipping industry during extraordinary events (Michail and Melas, 2020). Therefore, it would be interesting to explore the information behavior of managers when making decisions during a pandemic crisis.…”

Section: Shipping Managers' Information Behaviormentioning

confidence: 99%

Shipping managers’ information behavior during a pandemic crisis

Gerakoudi-Ventouri

2021

MABR

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Purpose A significant body of literature suggests that shipping companies operate in an extremely volatile and risky environment, relying on the effective use of information to remain competitive. However, decision-making in this market is demanding because of the high uncertainty, market competition and significant capital investments. Moreover, the rapid spread of COVID-19 renders information uncertainty a daunting challenge for companies engaged in global trade. Hence, this study aims to explore the information behavior of managers in a time of crisis seems compelling. Design/methodology/approach This study provides novel insights into the information behavior of senior managers by adopting a qualitative approach. Forty-nine semi-structured face-to-face interviews with individuals from Hellenic shipping companies were conducted. Moreover, this study explores the extant theory qualitatively, using the grounded theory methodology and shows that an unprecedented event (pandemic crisis) can redefine the information behavior of managers. Findings This study highlights the importance of information in decision-making. Moreover, the results show that, during a pandemic, managers resort to alternative information sources, adopt collaborative information behaviors and take advantage of digital technology. Originality/value There is limited research in exploring the information behavior of managers in times of pandemics. This research underscores the fact that during a crisis, managers seek information from digital information resources and decision-making assumes a more decentralized form. This study concludes with a discussion of the theoretical and practical implications of these findings.

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Shipping markets in turmoil: An analysis of the Covid-19 outbreak and its implications

Cited by 100 publications

References 40 publications

Tracking the global reduction of marine traffic during the COVID-19 pandemic

Tracking the global reduction of marine traffic during the COVID-19 pandemic

What do we know about business and economics research during COVID-19: a bibliometric review

Shipping managers’ information behavior during a pandemic crisis

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