AN APPLICATION OF FUZZY ANALYTIC HIERARCHY PROCESS TO OVERCAPACITY ABSORBING METHODS IN CONTAINER SHIPPING


Kamal B. , Kara G., Okşaş O.

International Journal of Maritime Engineering, vol.162, no.4, pp.331-344, 2020 (Journal Indexed in SCI Expanded)

  • Publication Type: Article / Article
  • Volume: 162 Issue: 4
  • Publication Date: 2020
  • Doi Number: 10.3940/rina.ijme.2020.a4.617
  • Title of Journal : International Journal of Maritime Engineering
  • Page Numbers: pp.331-344

Abstract

The market in container shipping has been characterised as highly cyclical. In a depressed stage of the cycle, with a sharp decrease in demand, the gap between supply and demand widens significantly leading to a deepening overcapacity in the sector. In order to reduce overcapacity in the container shipping sector specific actions have been undertaken by such shipping operators. This paper describes a study which modelled certain selection criteria applied to overcapacity absorbing methods for containership companies. The relative ranking of each criterion was determined through a fuzzyAHP method. In order to conduct the method, five main and twenty seven sub-criteria were determined. The results of this approach showed that during the times of a collapsed market the most preferred type of overcapacity absorbing method is to lay-up vessels, followed by adopting slow-steaming and thirdly, scrapping. Newbuilding contract cancellation/postponement and service suspension were found to have the least effect