A study of risks in maritime transportation

Abstract

Maritime transportation risks are detrimental to organisations as they disrupt the financial and material flows among organisations. Risk management enable organisations to mitigate maritime transportation risks as it reduces the impact and cost brought about by the risks. The objectives of this research include comparison of risk tolerance among different shippers, identification and investigation of maritime transportation risks faced by players in the container shipping industry, examination of the impact of various risks on individual players and lastly, exploring the risk mitigation strategies adopted by each player. Research interviews were conducted with liner shipping firms to find out the major risks encountered by them and effectiveness of their risk mitigation strategies. Information was extracted from published sources to act as reinforcement to the research interviews’ findings.