Maritime Policy & Management最新文献

{"title":"Editorial: Special issue on “Green Port and Maritime Shipping”","authors":"Dan Zhuge, Maxim A. Dulebenets, K. Fagerholt, Shuaian Wang","doi":"10.1080/03088839.2023.2209782","DOIUrl":"https://doi.org/10.1080/03088839.2023.2209782","url":null,"abstract":",","PeriodicalId":18288,"journal":{"name":"Maritime Policy & Management","volume":null,"pages":null},"PeriodicalIF":3.5,"publicationDate":"2023-11-17","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139263560","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"工程技术","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"A New wine in new wineskins: unfolding dimension of port-hinterland connectivity and market shares","authors":"Ajay Deshmukh, Dong-Wook Song","doi":"10.1080/03088839.2023.2271474","DOIUrl":"https://doi.org/10.1080/03088839.2023.2271474","url":null,"abstract":"ABSTRACTThe increasing globalization of trade has expanded the business boundaries of ports beyond their traditional port areas, extending into the hinterland. Effective and efficient connectivity between port and hinterland has become a pivotal factor in determining a port's competitiveness. To enhance hinterland connectivity, ports are encouraged to extend their intermodal networks into distant hinterland markets, aiming to increase their market shares from the hinterland. It has been traditionally argued that extending an intermodal network to the hinterland gives ports a competitive advantage over their rivals in increasing market shares. In recent years, a new dimension of port-hinterland connectivity has emerged: that is, ports are not only expanding their intermodal networks but also striving to integrate inland logistics centers to varying degrees. This integration varies by port, resulting in different hinterland connectivity configurations as ports strive to increase their market shares from the hinterland. The extension of intermodal networks into the hinterland has long been seen as a competitive advantage for ports, enabling them to secure a larger market share compared to rivals. This leads us to explore the issue of 'port-hinterland connectivity' from a unique perspective, considering both 'port-hinterland connectivity' and 'port market shares.' This paper aims to comprehensively discuss related conceptual and theoretical aspects associated (in)directly with these concepts. To achieve this, we conduct a comprehensive literature review, incorporating recent developments in the field. Subsequently, we establish a conceptual framework for port hinterland and port-hinterland connectivity, with a primary focus on container ports. This framework can serve as a foundational basis for future empirical investigations in this field and could provide stakeholders with insight into the mixed dynamics of these two concepts.KEYWORDS: Port hinterlandhinterland connectivityport marketmarket sharecontainer port AcknowledgmentsAn earlier version of this paper was presented at the 29th International Association of Maritime Economists Conference at Busan, Korea in 2022. The authors would convey their gratitude to three reviewers, an associate editor and the editor-in-chief for their valuable comments and suggestions made during the reviewing and revising processes.Disclosure statementNo potential conflict of interest was reported by the author(s).Notes1. * Since hinterland is a geographical phenomenon that was originated in physical geography, it moved to human geography later and finally became anchored in port geography in the form of ‘port hinterland’ (Ng and Ducruet Citation2014). See more in Appendix 1.","PeriodicalId":18288,"journal":{"name":"Maritime Policy & Management","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2023-11-07","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"135432273","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"工程技术","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Dividend payments and dividend smoothing in shipping companies","authors":"Andreas Andrikopoulos, Anna Merika, Henry Penikas","doi":"10.1080/03088839.2023.2275135","DOIUrl":"https://doi.org/10.1080/03088839.2023.2275135","url":null,"abstract":"ABSTRACTWe explore patterns and causal associations in the payout policies of 397 listed shipping companies. We find that payout policy in the shipping industry is associated with financial and governance characteristics of shipping companies, such as corporate age, profitability, and institutional ownership. These findings corroborate standard corporate-finance arguments on the emergence of payout policy as the outcome of mitigating agency conflicts and sending signals to capital market participants. Moreover, we find that the payout policy exhibits industry-specific features with shipping-market segment affiliations being important determinants of payouts (namely, containership companies exhibit higher payouts).KEYWORDS: Payout policydividend policycorporate financecorporate governanceshipping financial management AcknowledgmentsWe are grateful for the comments that were made by seminar participants at the IAME 2022 Conference where a previous version of the paper was presented.Disclosure statementNo potential conflict of interest was reported by the author(s).Notes1. https://www.stolt-nielsen.com/investors/dividends/","PeriodicalId":18288,"journal":{"name":"Maritime Policy & Management","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2023-11-06","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"135589258","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"工程技术","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"The role of port smartness in achieving sustainable development goals","authors":"Meysam Khalifeh, Aylin Caliskan","doi":"10.1080/03088839.2023.2273349","DOIUrl":"https://doi.org/10.1080/03088839.2023.2273349","url":null,"abstract":"ABSTRACTThis research aims to investigate the simultaneous effect of smartness and sustainability in port cities. For this purpose, this study introduces the Smart Port Sustainability Index (SPSI) as a key metric for measuring the impact of port smartness on sustainable development goals. The results of SPSI values for different ports show that higher levels of intelligence do not necessarily correspond to greater sustainability. Ports that solely focus on adopting smart technologies may disregard environmental and social components of sustainable development. Alternatively, the efforts made by ports to achieve sustainable development goals can be regarded as a favorable factor in enhancing the intelligence and sustainability of ports. Furthermore, the regional analysis indicates that European ports outperform ports in North America and Asia across all three: sustainability indicators, Smartness operation, and the Smart Port Sustainability Index.KEYWORDS: Smart portindustry 4.0SDGport intelligencesustainability Disclosure statementNo potential conflict of interest was reported by the author(s).","PeriodicalId":18288,"journal":{"name":"Maritime Policy & Management","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2023-11-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"135972645","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"工程技术","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Measuring the dynamic term structure of the FFA market","authors":"Bin Meng, Shuiyang Chen, Mo Yang, Haibo Kuang, Yu Bao","doi":"10.1080/03088839.2023.2271936","DOIUrl":"https://doi.org/10.1080/03088839.2023.2271936","url":null,"abstract":"ABSTRACTForward Freight Agreements (FFAs) are exchange-traded futures and the main means of risk management for shipping spot freight. The relationship between the FFA market and the shipping spot market has attracted much attention, but few studies focus on the dynamic FFA term structure and its correlation with the spot price. In this study, we establish the dynamic term structure of the FFA market by quantifying the level factor, the slope factor and the curvature factor of the FFA term structure to reveal the underlying information in the shipping derivatives market, and further scrutinize the impact of the FFA term-structure factors on the shipping spot market. The empirical results indicate that the term-structure factors have significant time-varying effects on the BDI and BPI: The effect of the term-structure factors on BDI and BPI changes with shipping market conditions and economic environment. The level factor has a positive effect, while the slope factor and the curvature factor both have negative effects, with the impacts on the BPI being about twice as large as the impacts on the BDI. The three factors all have their strongest effect in the short term and the weakest effect in the long term.KEYWORDS: Forward freight agreementshipping marketdynamic term structureNelson-Siegel model Disclosure statementNo potential conflict of interest was reported by the author(s).Additional informationFundingThis work was supported by the National Natural Science Foundation of China (Grant No. 71831002, 72174035, 72072018, 71971034), the 111 Project of China (Grant No. B20082), Postdoctoral Research Foundation of China (Grant No. 2021T140081), Humanities and Social Science Fund of Ministry of Education of China (Grant No. 19YJC790171, 21YJCZH107), Fundamental Research Funds of the Educational Department of Liaoning Province (Grant No. LJKZZ20220126), Social Science Foundation of Liaoning Province (Grant No. L22BJY024), and Fundamental Research Funds for the Central Universities of China (Grant No. 3132023286, 3132023283).","PeriodicalId":18288,"journal":{"name":"Maritime Policy & Management","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2023-10-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"135813222","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"工程技术","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Self-reliant shipping to mitigate disruption risk in the direct-delivery channel: will the e-tailer’s bonded-warehouse channel also benefit?","authors":"Baozhuang Niu, Yiyuan Ruan","doi":"10.1080/03088839.2023.2256728","DOIUrl":"https://doi.org/10.1080/03088839.2023.2256728","url":null,"abstract":"ABSTRACTCross-border e-commerce, in particular direct-delivery trade, has been severely impacted by turbulent events like the COVID-19 epidemic. E-tailers operating both bonded-warehouse and direct-delivery channels could mitigate disruption risks by self-reliant shipping to maintain control over logistics processes. The question is whether the e-tailer’s bonded-warehouse channel will also benefit from self-reliant shipping. We analyse a typical situation in which an e-tailer imports products from overseas suppliers and resells them through dual-sales channels. Our findings reveal that the demand potential difference between these two channels and the common carrier’s pricing power are critical factors in the e-tailer’s decision-making process. If the bonded-warehouse channel has moderate demand potential, the e-tailer is less likely to choose self-reliant shipping. Therefore, the imbalance in demand potentials between the two channels serves as a significant driver for the e-tailer to favor self-reliant shipping. Interestingly, we find the common carrier’s pricing power can either motivate or deter the e-tailer from self-reliant shipping. If the direct-delivery channel/bonded-warehouse channel has a large demand potential, a higher service price for this channel will be charged by the carrier, thus incentivizing the e-tailer to prefer self-reliant shipping. Our study also demonstrates that both self-reliant shipping and common carrier strategies can achieve a Pareto improvement in the e-tailer profit and the social welfare.KEYWORDS: Channel disruptionsupply chain resilienceshipping servicemaritime supply chaincross-border e-commerce AcknowledgmentsThe authors are grateful to the editor and reviewers for their helpful comments. Yiyuan Ruan is the corresponding author.Disclosure statementNo potential conflict of interest was reported by the author(s).Additional informationFundingThis work was supported by the National Natural Science Foundation of China (72125006, 72293564/72293560).","PeriodicalId":18288,"journal":{"name":"Maritime Policy & Management","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2023-10-29","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"136133849","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"工程技术","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Mismatch between volume and value: a new perspective on the significance of global ports","authors":"Qiqi Zhang, Yongshun Xie, Zhenfu Li, Xinli Qi","doi":"10.1080/03088839.2023.2271935","DOIUrl":"https://doi.org/10.1080/03088839.2023.2271935","url":null,"abstract":"ABSTRACTTo achieve high-volume and high-quality development of maritime transport and establish a port industry ecosystem, maritime stakeholders and national policymakers must recognise ports as crucial economic and trade windows. For a comprehensive and in-depth interpretation of a port, this study focuses on seaborne cargo as the entry point and proposes a methodological framework for assessing port importance. The proposed framework is based on a multi-methodological fusion and considers the relationship between the type, direction, volume, and value of the maritime cargo transported through the port, while distinguishing between the associated economic sectors, industry types, imports, exports and transhipments, and volume and value. Hence, port importance is assessed based on three dimensions: identification of the maritime transport cargo types for which the port has a comparative advantage, measurement of the port combined cargo transport capacity, and differentiation of the port type. The results reveal that seaborne cargo volumes and values are mismatched in global ports; high seaborne cargo value increases port importance to a greater degree than high seaborne cargo volume; and ports can be classified as inland serving, balanced inland and outward serving, and outward serving. These findings provide a research basis for a new port industrial-ecosystem construction strategy.KEYWORDS: Global portcargomaritime transportationRCA indexfactor analysisport type AcknowledgmentsZ. Li and Q, Zhang collaboratively conceived and designed the study. Q, Zhang completed the overall research. Y, Xie gave very valuable comments for writing. X, Qi provided valuable input into the production of the figures. All authors made substantial contributions to discussions of content and reviewed and edited the manuscript before submission. Thanks to all the authors for their contribution. We are very grateful to Jasper Verschuur for supporting the data. At the same time, we appreciate the reviewers and journal experts.Disclosure statementNo potential conflict of interest was reported by the author(s).Notes1. OriginPro 2021, developed by OriginLab Corporation, is used for Graphing & Analysis. Thelink is https://www.originlab.com/2021.2. SPSS 20.0 is the world’s leading statistical software used to solve business and research problems by means of ad-hoc analysis, hypothesis testing, and predictive analytics. The link is https://www.ibm.com/support/pages/ibm-spss-statistics-20-documentation.Additional informationFundingThe work was supported by the Department of Education of Liaoning Province [XLYC2004008].","PeriodicalId":18288,"journal":{"name":"Maritime Policy & Management","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2023-10-23","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"135367053","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"工程技术","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Optimum cooperation strategy for different cooperative motivations: a case study of the Kobe and Osaka ports","authors":"Hoshi Tagawa, Tomoya Kawasaki, Shinya Hanaoka","doi":"10.1080/03088839.2023.2258128","DOIUrl":"https://doi.org/10.1080/03088839.2023.2258128","url":null,"abstract":"ABSTRACTDeveloping cooperative relationships between neighboring ports has emerged as an effective strategy for enhancing overall productivity. Two key factors to consider in such collaborations are: cooperative motivation (which drives the decision to cooperate between ports) and cooperation type (which defines the business scope of collaborative activities). Cooperative motivation can be categorized into regional welfare and competition, while cooperation type encompasses activities related to hinterland access and terminal management. This study aims to determine the most optimal types of cooperation based on different motivations. To achieve this, a bi-level optimization model was developed to analyze the relationship between shippers and ports, specifically focusing on the cooperation between the Kobe and Osaka ports. Competition with the Busan port was examined as a case study to provide a comprehensive understanding of the dynamics involved. The findings revealed that cooperation plays a crucial role in enhancing regional welfare for both North American and Southeast Asian cargo, particularly when cooperation levels are relatively low. Furthermore, it was observed that an effective cooperative strategy for competition in the Kobe and Osaka ports is contingent upon specific conditions. Hence, for successful competition-based cooperation, careful consideration of market dynamics and prevailing circumstances is essential.KEYWORDS: Port cooperationhinterland accessterminal managementbi-level optimizationcooperative motivation Disclosure statementNo potential conflict of interest was reported by the author(s).Notes1. We present the volume of container cargo in tons instead of TEUs (twenty-foot equivalent units) because the data source records the measurements in tonnage.Additional informationFundingThis research has received no funding.","PeriodicalId":18288,"journal":{"name":"Maritime Policy & Management","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2023-10-19","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"135779834","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"工程技术","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Analysis of transportation CO ₂ emission efficiency in the Yangtze River Economic Belt in China","authors":"Huali Sun, Boyu Zhou, Zeping Li, Xinyi Li, Yaofeng Xue","doi":"10.1080/03088839.2023.2262990","DOIUrl":"https://doi.org/10.1080/03088839.2023.2262990","url":null,"abstract":"ABSTRACTThe transportation industry’s CO2 emissions and its main drivers are important for achieving sustainable development. With data from the Yangtze River Economic Belt (YEB) between 2004 and 2020, the efficiency of CO2 emissions is investigated by the super efficiency epsilon-based measurement method (super-EBM) and the Global Malmquist Luenberger Productivity Index (GML). The influencing factors on the different efficiency levels are explored by the panel quantile regression. This study shows that the overall CO2 emissions efficiency is not high, and the efficiency in different regions is largely consistent with the regional economy level. COVID-19 may reduce urban transport carbon emissions in the Yangtze River Economic Belt in 2020, as reflected by the reductions in average emissions and emissions efficiency. Findings also suggest that the influence of the number of private vehicles per 10,000 people on efficiency is positive at low and middle quantiles, and negative at high quantiles. Besides, the per-capita GDP, energy intensity, and transportation service structure negatively influence the efficiency at all quantiles, whereas urbanization and transportation intensity are positively related to the emissions efficiency.KEYWORDS: Transportation industryCO2 emissions efficiencysuper-EBM modelGML indexpanel quantile regressionYangtze River Economic Belt Consent to Participate and PublishThe manuscript is approved by all authors for participation and publication.Ethical ApprovalThe manuscript has no ethical concerns.Disclosure statementNo potential conflict of interest was reported by the author(s).Data availability statementThe data that support the findings of this study are available from the corresponding author upon reasonable request.Additional informationFundingThis study was supported by the National Natural Science Foundation of China [Grant no. 71974121], [Grant no. 72374131] and the Soft Science key program of the “Technology and Innovation Action Plan” of the Shanghai Scientific and Technological Committee [Grant no. 22692104600].","PeriodicalId":18288,"journal":{"name":"Maritime Policy & Management","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2023-10-16","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"136113379","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"工程技术","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Subsidy strategy design for shore power utilization and promotion","authors":"Lu Zhen, Yingying Yuan, Dan Zhuge, Harilaos N. Psaraftis, Shuaian Wang","doi":"10.1080/03088839.2023.2263010","DOIUrl":"https://doi.org/10.1080/03088839.2023.2263010","url":null,"abstract":"ABSTRACTShore power is an important green technology used by ports to reduce carbon emissions. This paper investigates how to design subsidy strategy for promoting the installation and utilization of shore power. However, while installation subsidies may promote the installation of SPI in ports, resulting in a reduction in ship emissions, utilization subsidies may attract more ship visits, which may increase the total emissions of a port. Therefore, subsidies for shore power utilization and installation should be optimized to minimize the cost to government (comprising the environmental costs of ship emissions, the cost of utilization or installation subsidies, and carbon taxes) and maximize the profit for ports (including profit from original and new ships, utilization and installation subsidies, and carbon taxes). Using the Stackelberg game methodology, we discuss five cases to give a comprehensive analysis of the design of different subsidy policies, including no subsidy, SPI-utilization subsidy undertaken by port, SPI-utilization subsidy undertaken by port and government, carbon emission tax policy considering SPI-utilization subsidy, and SPI-utilization and SPI-installation subsidies undertaken by port and government. Managerial insights are generated according to the theoretical analysis and numerical experiments results, which can give references to the government and port operators.KEYWORDS: Green portsshore powersubsidy designcarbon taxStackelberg model Disclosure statementNo potential conflict of interest was reported by the author(s).Additional informationFundingThis work was supported by the National Natural Science Foundation of China [Grant No. 71831008, 72201163, 72025103, 72361137001, 72071173], and the Research Grants Council of the Hong Kong Special Administrative Region, China [Project number HKSAR RGC TRS T32-707/22-N].","PeriodicalId":18288,"journal":{"name":"Maritime Policy & Management","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2023-10-08","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"135198610","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"工程技术","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}