The Changing Structure of International Trade: An Evaluation of the Liner Shipping Industry


Toygar A., Yıldırım U.

in: New Normal and New Rules about International Trade, Economics and Marketing, Darıcı Burak,Ayhan Fatih,Chiu Candy Lim, Editor, Peter Lang Publishing, Inc., Berlin, pp.103-112, 2021

  • Publication Type: Book Chapter / Chapter Research Book
  • Publication Date: 2021
  • Publisher: Peter Lang Publishing, Inc.
  • City: Berlin
  • Page Numbers: pp.103-112
  • Editors: Darıcı Burak,Ayhan Fatih,Chiu Candy Lim, Editor

Abstract

The emergence of COVID- 19 in the Republic of China, known as the worldwide production center, caused the rapid spread of its negative effects on international trade. But the real break came when the virus reached the size of a pandemic. The expansion of the measures taken within the scope of the virus in many countries of the world caused huge decreases in global trade volumes, creating a shock effect. Each crisis, which has caused shrinkage in global trade volumes from past to present, has also caused great losses in the liner  shipping industry. After the 2008 financial crisis, which caused great destruction in international trade, the commercial activities of many container shipping companies stopped their activities. In the COVID- 19 period, which has similar features to the financial crisis, container shipping companies have developed many strategies to adapt to possible crises. For this reason, the study includes the evaluation of the strategies developed by container shipping companies and the implications for the results of these strategies.