Logistics and Maritime Transport Sector in the Pandemic Period

Abstract

The purpose of this study is to express and deploy the issues which logistics and particularly the maritime shipping sector have faced during the COVID-19 pandemic and what solutions have been implemented specifically by the shipping companies on the matters. As a result of an extensive literature review along with self-gained professional sector knowledge, a list of serious issues indicates container shortage, freight rate fluctuations, and vessel quantity insufficiency are among the top challenges that shipping lines have to overcome. A significant amount of orders for new container manufacturing and vessel building have been placed. Additionally, in order to stabilize or even decrease the freight rates, shipping lines have formed alliances and working on alternative fuel consumptions to be implemented for environmental friendliness, better price options, and sustainability. However, studies indicate that new ordered containers and vessels would not come into the flow for the next 2-3 years. On the other hand, alternative fuel projects require acceptance and support from every member involved in the sector and its effect would be felt gradually over the upcoming years until 2050. The study suggests several incentives and encouraging recommendations. First, a monetary incentive toward early container returns for creating higher and faster container flow. Second, inviting governments and every member of the logistics and supply chain industry to be part of the investments rather than only having the shipping lines in the play.