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|Title:||Understanding risk management from a tanker-owner's perspective & developing an optimum strategy linked to competitive edge||Authors:||Goh, Cindy Pei Ying.
Lim, Hui Wen.
Low, Si Min.
|Keywords:||DRNTU::Engineering::Maritime studies::Maritime management and business||Issue Date:||2008||Abstract:||Risk is present and inevitable in every organization. Due to the capital intensity and derived demand nature of shipping, risks involved are especially great, and liabilities are almost unlimited. However, while most companies now view risk as a key issue, its treatment is still somewhat piecemeal. This paper provides an understanding of the different elements of risks involved from a tanker-owner’s viewpoint and develops an optimum strategy that both encompasses risk management and its relation to competitive edge. A conceptual understanding of different elements of risks faced by a tanker-owner is first presented, with material being sourced from relevant literature. After which, surveys conducted with various players, including tanker-owners, tanker operators, marine insurers and ship financiers, are analyzed to reveal the risk ranking perceived by the tanker industry. Both these aspects are taken into account in construction of an optimum strategy, which includes interlinked internal and external models. To reinforce the proposed strategy models, in-depth case analyses of strategic approaches undertaken by BW Shipping and BP Shipping are carried out. In conclusion, we justify that the implementation of our proposed combination strategy assists in risk management in everyday processes and in the long term, positions a tanker-owner on a route that leads to increased competitiveness and market standing.||URI:||http://hdl.handle.net/10356/12680||Fulltext Permission:||restricted||Fulltext Availability:||With Fulltext|
|Appears in Collections:||CEE Student Reports (FYP/IA/PA/PI)|
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