The Maritime Economist Magazine Spring 2015 | Page 47

THEMARITIME Economist

comments & praises

The Shipping Industry has been undergoing a period of severe difficulties, and these do not seem to be over!
One way to ameliorate this is to undertake more research, relevant for the Industry. I see from major areas in
which such research might take place, and anticipate reporting on this in The Maritime Economist:
• The classical shipping industry. This is one of the few remaining ones where perfect/atomistic competition
still prevails. Relevant research here might focus on how to understand particular market cycles better
(forecasting, behavioral analysis, political analysis …). And, why are appropriate decisions regarding “in/
out” and/or “long/short” not taken as one might expect? (Behavioral factors, risk assessing, personal
agendas …). More research is clearly needed.
• We see a growing trend towards “new shipping” – i.e. relatively less capital intensive firms, and with
relatively more specific customer closeness. How can relevant customer insights be internalized? (i.e.
avoiding the broker’s “filters!”). How can new financing be brought in on the ownership side? How can
relevant innovations be implemented (say, such as the SAVER on Tripple A designs in container shipping),
etc.
• How is the future successful shipping company organized? What are the competences to be needed in
– home vs. outsourced? Do we see a split between owning, managing and operating? Are we seeing the
emergence of a “flat”, “we, we, we” organizational culture, in contrast to the older hierarchical / silo / “me,
me, me” culture?
• Innovations. Are we seeing new approaches not only to ship design (such as SAVER, Triple A), but also to
propulsion, i.e. use of gas in engines? Are there shipbuilders becoming more prone to embrace innovations,
rather than to focus on positive learning-curves effects from long/standard ship series to be built? “New”
manufacturing; …
The above, and other innovations, are likely to provide benefits for shipping companies when it comes to their
efforts to cope in the face of extremely difficult conditions.

THEMARITIME Economist has an important role to play!

Peter Lorange
Chairman, the Lorange Institute of Business