Sales strategies in shipping: a comparative study of different approaches

Abstract

This thesis offers a comprehensive examination of the shipping industry, tracing its evolution from ancient times to its current state and exploring its future prospects. It begins by establishing the importance of the shipping industry and market, discussing the shift from fragmentation to vertical integration among shipping companies, and highlighting the critical role of maritime transport in global trade. The historical overview covers significant periods and developments in the shipping industry, starting from ancient times through the early 20th century, including the impacts of both World Wars, the introduction of container shipping, the economic rise of China, the era of global competition, and the industry's ongoing efforts towards decarbonization. The thesis further categorizes ships and their markets into cargo ships, tankers, bulk carriers, and container ships, detailing their respective roles and market dynamics. The discussion on the shipping market delves into the industry's nature, the evolution of the modern shipping industry, the growth of international trade, trade flow imbalances, and various shipping methods. A significant focus is placed on the major shipping commodities, including oil, petroleum products, LNG, LPG, agricultural commodities, major bulks like iron ore and coal, chemicals, manufactured goods, and containerized cargo. Each commodity's market characteristics and trends are explored in depth. In addressing effective sales strategies, the thesis outlines the importance of understanding market cycles, minimizing operating costs, chartering strategies, financial risk management, organizational excellence, technological innovation, shipping rate predictions, market timing, asset management, withholding capacity management, strategy modeling, business model building, and third-party ship management. The discussion on niche markets identifies strategies for shifting away from commodity-based businesses towards specialized shipping businesses, emphasizing the need for adaptation and innovation. The thesis concludes with a discussion on current issues, future prospects, and forecasts for international maritime trade development, suggesting that the shipping industry is poised for further changes driven by technological advancements, environmental considerations, and shifts in global trade patterns. This comprehensive analysis underscores the shipping industry's complexity and its crucial role in the global economy, providing insights into its challenges and opportunities ahead. Keywords: Shipping Industry, Maritime Transport, Global Trade, Cargo Ships, Tankers, Bulk Carriers