Shipping Company Strategies in Turbulent Times Author: Konstantinos Kyrou Supervisor: Dr. Spyros Lioukas Master in Business Administration AUEB – NTUA Athens 2017

Scope of the work Review of business strategies and practices in current turbulent times Identify those promising for the competitiveness of shipping companies Methodology: Structured interviews: Questionnaire 35 shipping industry executives

Strategies in Turbulent Times Quality of services Cost reduction Innovation Marketing (B2B) Without compromising safety

Discussion of Results (1/5) Figure 1: Company strategies

Discussion of Results (2/5) Figure 2: Means of cost reduction

Discussion of Results (3/5) Figure 3: Areas of innovation

Discussion of Results (4/5) Figure 4: S&Q management

Discussion of Results (5/5) Figure 5: Crew management

Conclusions (1/2) Quality and Cost of services the most important factors for the competitiveness of shipping companies Introduction of technology innovations in turbulent times, reducing operational expenses Emphasis on marketing, following market penetration as a development strategy Shipping industry less affected by the financial crisis Implement best practices in Crew, Safety & Quality, Technical, Supplies and Financial management

Conclusions (2/2) Main competitive strategies in shipping industry: Cost leadership and Differentiation Acquisition of ships with low cost Use flags of convenience Acquisition of production factors from the international market, taking efficiency into consideration Implementation of a management model focused on cost control Use ship management expertise of human resources