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Disruptions and resilience in global container shipping and ports: the COVID-19 pandemic versus the 2008–2009 financial crisis
Open accessAbstract
Economic shocks test the resilience and adaptability of the shipping industry and container ports. Each crisis triggers different ramifications in the container market. This paper investigates the temporal and spatial sequences of the supply and demand shocks of COVID-19 on container ports and the container shipping industry by comparing these events to the 2008–2009 financial crisis. Using operational and financial data from primary and secondary sources, we analyze short-term impacts and their differences, the reasons for these variations, and the evolution in the adaptive capacity and resilience of ports, terminal operators, and carriers. The analysis revolves around several inter-related domains: impacts on global supply chains; impacts on operational aspects, market structure, and strategic behavior of shipping lines and terminal operators; impacts on port activity levels in terms of vessel calls and container volumes handled; and network impacts in terms of changes in aspects of container port connectivity. The changes observed and the strategic behavior of the market players involved reveal that further adaptation mechanisms, such as slow steaming, economies of scale, and capacity management, have been applied differently between the financial crisis and COVID-19, resulting in different outcomes. For an external shock such as COVID-19, impacts are the outcome of how ports and the shipping industry fit within complex supply chains and the cargo composition handled by ports.
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“In a way, this is partly explained by the fleet capacity situation, in terms of (un)availability, which was far worse then (see Notteboom et al. 2021;Cullinane and Haralambides 2021;Cullinane et al. 2023 for a more detailed analysis).”
From The Red Sea Crisis: ramifications for vessel operations, shipping networks, and maritime supply chains (2024) · cites this paper as Notteboom et al. 2021
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Metadata
- Authors
- Notteboom, T., Pallis, T., & Rodrigue, J.-P.
- Affiliations
- University of Antwerp (BE)
- University of the Aegean (GR)
- Hofstra University (US)
- Corresponding author
- Notteboom, Theo
- Venue
- Maritime Economics & Logistics
- Published
- 2021-01-04
- Volume
- 23
- Issue
- 2
- Pages
- 179-210
- ISSN
- 1479-2931 (ISSN-L)
- 1479-294X
- PMC
- PMC7781181
- OpenAlex
- W3120887917
- Semantic Scholar
- dd9289b14e4057822dbb81d95378eb68b77a7182
- Cited by
- 521
- References
- 38
- Citations by year
- 2026: 122 · 2025: 83 · 2024: 92 · 2023: 97 · 2022: 97 · 2021: 30
- FWCI
- 40.87
- Type
- journal article
- Language
- en
- Open access
- bronze
- doi.org
- Locations
- Maritime Economics & Logistics (publishedVersion)
- PubMed Central (publishedVersion)
- RePEc: Research Papers in Economics (submittedVersion)
- Ghent University Academic Bibliography (Ghent University) (submittedVersion)
- Topics
- Physical Sciences › Engineering › Industrial and Manufacturing Engineering › Maritime Ports and Logistics
- Social Sciences › Business, Management and Accounting › Strategy and Management › Supply Chain Resilience and Risk Management
- Physical Sciences › Environmental Science › Environmental Engineering › Maritime Transport Emissions and Efficiency
- Keywords
- container shipping, container ports, COVID-19 pandemic, 2008 financial crisis, supply chain disruption, port resilience, slow steaming, economies of scale, capacity management, shipping lines, terminal operators, market structure
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