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Title: Expected utilities of liner shipping market trends: how can companies benefit?

Authors: Umur Bucak

Addresses: Department of Maritime Business Administration, Kocaeli University, Kocaeli, Turkey

Abstract: Recently, liner shipping companies were one of the most profitable companies. To sustain this profitability, companies should use the right strategies. This study aims to define and analyse liner shipping market trends, its expected utilities, and the competitive advantage strategies of companies. In this study, the most adequate strategy that meets the requirements of these trends was obtained by fuzzy AHP-TOPSIS hybrid method. Such market trends as 'digital transformation', 'decarbonisation race', and 'supply chain integration' were seen as the most prominent ones. On the other hand, 'rapid shipping service between ports' had become the most preferable strategy in the context of these trends. These results were discussed by comparing existing literature and interpreted in terms of market conditions. This is the first study evaluated liner shipping market trends in the context of expected utilities theory and tried to determine the best strategy brings competitive advantage by catching market trends.

Keywords: liner shipping market trends; competitive advantage theory; fuzzy AHP-TOPSIS hybrid method; expected utility theory; container transport.

DOI: 10.1504/IJSTL.2024.137588

International Journal of Shipping and Transport Logistics, 2024 Vol.18 No.1, pp.92 - 110

Received: 03 Jan 2023
Accepted: 14 Mar 2023
Published online: 27 Mar 2024 *