글로벌 정기선사의 비즈니스 포트폴리오 분석을 통한 경쟁전략에 관한 연구

Abstract

Abstract

Global liner shipping business environments fluctuate drastically because of several factors such as over supplying of ships and slow down of world trading since the 2008 global financial crisis.

Under these circumstances, shipping companies have been directly affected by the impact of the drop in freight rates and have recorded a large deficit for several years.

Many of the companies suffering from financial difficulties eventually went bankrupt and were merged by other companies.

Hanjin Shipping was bankrupt and, APL,China Shipping, CSAV, UASC and Hapag Lloyd met new owner from end of 2014 to middle of 2017.

And, Japanese big 3 liner shipping companies (MOL, NYK & K Line) announced that they would merge the portion of their liner shipping operations by the end of 2016.

Recently, OOCL is said to be taking place in COSCO.

The market structure of the global liner shipping industry, which has dominated more than 20 years by big 20 companies, collapsed in just three years.

Of course, these results are not simply done with management performance. Several companies were funded by the government because of the term industry

In a difficult market environment, it would be difficult to carry out large-scale financing for M&A with the power of individual corporations without the aid of the government and creditors.

It can not be denied that the support of the Government and the creditors has been significant.

However, despite the sponsorship of the government and creditors, some companies were bankrupt or merged. And some companies have managed to achieve superior managerial performance despite lack of these supports.

Therefore, it needs to be investigated in terms of competition strategies, except for external factors such as government intervention.

Global liner shipping companies have struggled to gain competence through mainly cost superiority strategy such as expanding the amount of vessel with the input of energy saving big size vessel, forming strategic alliances and executing merger and acquisitions.

But, despite the fact that all companies have managed to control the cost by cost superiority strategy, the results showed differently during the reorganization of the market. That means cost superiority strategy alone is insufficient in management to achieve company goals

The purpose of this study is to investigate the effectiveness of the diversification strategy implementation in global liner shipping companies.

This study analyzed the current status of the portfolio of global big 20 liner shipping companies by vessel-type and business referring to the annual report and business disclosures in November 2014, when the market was just around the corner.

Then we divided into four groups.(A group: diversified vessel operation & diversified business portfolio, B group: diversified vessel operation & simple business portfolio, C group: simple vessel operation & diversified business portfolio, D group: simple vessel operation & simple business portfolio)

And this study yielded the following findings by calculating the relevance of 10 years ' management performance to each type of work.

- Global liner shipping companies try to diversify shipping related businesses rather than non shipping related businesses

- Global liner shipping companies deploying various business portfolios showed high management performance.

- Global liner shipping companies deploying simple portfolios have relatively low management outcomes and were often acquired in the process of redeveloping the market

- Business diversification is more effective in maintaining financial stability rather than increase sales

The study found that the global liner shipping company should consider the diversification strategy in order to ensure long-term stability and gain a cost advantage through synergy effect

This study aims to determine roles of top management and organizational business portfolio management in the company strategy implementation.