Risk and Risk Management in the Shipping Industry: An Exploratory Study of the Danish Shipping Industry and the Perception of Risk

Frederik Holm & Vitalijs Kalinovs

Student thesis: Master thesis

Abstract

The shipping industry is a major part of global trade, and an essential factor for people and economies around the world. The industry is moving the majority of goods in the world, and is thus a foundation for global trade and the value created from this trade.
As a consequence, the industry is inherently international, and as a result exposed to a wide variety of risks that include both threats and opportunities to the companies involved in shipping.
On the basis of this importance, the purpose of this research is to examine the present situation in the shipping industry in regard to these risks and the handling of them.
The industry is investigated to determine the most important risk factors shipping companies are facing today, and to understand the tools and strategies that are used in the handling of these risks. Furthermore, the purpose is to outline the perception of risk and risk management in order to develop the understanding of risk in the shipping industry.
This is done through the use of several methodic strategies, to enhance the empirical basis and generalizability of the study, and by comparing findings from literature with findings from companies involved in daily operations within the industry.
The research highlights the general approach to risk as being traditional and in accordance to the literature on the topic. However, it is also highlighted that the variation in perception and approach to both risk and risk management within the industry is immense. This is signified by the identification of a need for development in the field of risk management, and how this development can be cultivated by a heightened focus on supply chain risk management.

EducationsMSc in Supply Chain Management , (Graduate Programme) Final Thesis
LanguageEnglish
Publication date2017
Number of pages125
SupervisorsTorben Juul Andersen