Strategic Crisis Response of Shipping Industry in the Post COVID-19 Era: A Case of the Top 10 Shipping Lines

Abstract

Shipping has played a pivotal role during the epidemic, ensuring that the global logistics functions without disruption. COVID-19 hit various industries around the world, and shipping was no exception. How the shipping industry responds to the crisis and simultaneously shoulders its respective responsibility in the world’s battling the crisis is thus worth exploring in depth. This study takes the top 10 global container shipping capacity liners, which account for 84.7% of the worldwide capacity, as research objects. A corpus for text analysis was constructed collecting press releases and advisories issued on official websites of these 10 container shipping companies from January 2020 to July 2021. Comparison studies were made horizontally among ten shipping companies and longitudinally for crisis evolution patterns into three sub-corpora of Pre/early-Crisis, Crisis-in-Progression, and Post-COVID-19-Era. Quantitative findings were explored and elaborated further under a comprehensive theoretical framework integrating crisis management and communication, corporate social responsibility (CSR), and maritime management (MM). The extracted positive and negative keywords revealed textual characteristics and emergency response strategies on the part of shipping lines in the Pre/early-Crisis, Crisis-in-Progression, and Post-COVID-19-Era. The inclusion of the themes of pursuing sustainability in the shipping lines’ responses to such worldwide crisis as COVID-19 is out of the common knowledge of crisis management but reveals the commitment and strategies on the part of the industry. The findings provide a reasonably comprehensive picture of the efforts made by large container shipping companies to respond to COVID-19 and the measures taken to soothe stakeholders. This paper extends and relearns crisis management, CSR, and MM theories through integrating the fulfilling of cooperate social responsibilities in maritime management as the cooperate crisis responses, thus proposing the integrity of the three topics. Moreover, management recommendations are provided for shipping company management, IMO, and port authorities.