Global trends in maritime and port economics: the COVID-19 pandemic and beyond
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The year 2020 will go down in history as the year of the coronavirus disease 2019 (COVID-19). With the World Health Organization’s declaration of an International Pandemic on 11 March 2020, the social and economic consequences of the pandemic have spread globally as quickly as the virus itself, and in no small measure, COVID-19 has ushered in a new normal which has yet to be fathomed. Concepts such as teleworking for business, and the e-campus for education, particularly in the way they are facilitated by the simplicity of platforms such as Zoom, Teams, etc., are probably here to stay – at least to some extent and in some form. The effects of this on business travel, education and e-commerce are likely to be profound (SuauSanchez et al. 2020; Conway et al. 2020; Pokhrel & Chhetri 2021; Mohdhar & Shaalan 2021). Of course, with the outbreak of the pandemic, both global production and international trade initially declined. Naturally, this had to do with the lockdown in China and the closure of many of its production facilities, and the corresponding lockdowns in Europe and North America that followed, substantially reducing the demand for Chinese imports. The Chinese lockdown, moreover, led to serious disruptions in global supply chains, demonstrating, if any more lessons were needed, the pivotal role of China as the engine of global industrial production. The shortterm economic effects of COVID-19 have been most immediately and acutely felt, however, in the contraction of global demand, mainly for merchandize goods, and the curtailing of passenger travel, holidays and entertainment activities. It should be noted, however, that the contraction in overall demand experienced over the course of the whole of 2020 has not been as dramatic as many analysts were predicting, and to the benefit of the shipping industry, the same was also true for international trade.
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The greater manageability of the current crisis is partly explained by the fleet capacity situation, in terms of (un)availability, which was far worse during the COVID-19 disruptions.
“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 Cullinane and Haralambides 2021
The ‘Impact on shipping sectors’ section (page unavailable) reports that carriers withdrew 20–30% of capacity from main trade lanes during COVID-19 and that laid-up tonnage reached record levels. This supports reduced fleet-capacity availability then, but the paper does not compare it with the later crisis or establish that the later crisis was more manageable for that reason. (LLM, conf=0.86)
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Leviäkangas, P., Ojala, L. M., Paik, S. M., & Pekkala, V. (2023) · Journal of Shipping and Trade · doi:10.1186/s41072-023-00158-5 · Cited by 1 · see citing works
Investigating the effect of COVID-19 on intra-COMESA trade
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Integrated Approach to Trade and Transport Facilitation
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VOLATILNOST VOZARINA U KONTEJNERSKOM POMORSKOM PROMETU U DOBA PANDEMIJE COVID-19
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PANDEMIJOS POVEIKIS TRANSPORTO SEKTORIAUS VERSLO APLINKAI
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Revenue Analysis of Travel Agent in Palangka Raya City at the Time of Covid-19 Pandemic
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- Authors
- Cullinane, K., & Haralambides, H.
- Affiliations
- University of Gothenburg (SE)
- Centre d'Économie de la Sorbonne (FR)
- Corresponding author
- Cullinane, Kevin
- Venue
- Maritime Economics & Logistics
- Published
- 2021-07-26
- Volume
- 23
- Issue
- 3
- Pages
- 369-380
- ISSN
- 1479-2931 (ISSN-L)
- 1479-294X
- PMC
- PMC8311633
- OpenAlex
- W3186902901
- Semantic Scholar
- c6a7ffbcccc11a9fe007243fcdc584b767b54fcd
- Cited by
- 99
- References
- 35
- Citations by year
- 2026: 8 · 2025: 18 · 2024: 13 · 2023: 28 · 2022: 30 · 2021: 2
- Type
- journal article
- Language
- en
- Open access
- bronze
- doi.org
- Locations
- Maritime Economics & Logistics (publishedVersion)
- PubMed Central (publishedVersion)
- HAL (submittedVersion)
- RePEc: Research Papers in Economics (submittedVersion)
- Topics
- Physical Sciences › Engineering › Industrial and Manufacturing Engineering › Maritime Ports and Logistics
- Social Sciences › Economics, Econometrics and Finance › General Economics, Econometrics and Finance › Aviation Industry Analysis and Trends
- Social Sciences › Economics, Econometrics and Finance › Economics and Econometrics › COVID-19 Pandemic Impacts
- Keywords
- maritime economics, port economics, COVID-19 pandemic, global trends, shipping industry, port operations
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