Growth Strategy Preferences of Turkish Tramp Shipping Companies: A Qualitative Research

Abstract

Tramp shipping has played an important role in world seaborne trade since the 19th century. Shipowner companies operating in tramp shipping, which is a mean of maritime transport associated with bulk cargoes that make up three-quarters of all maritime trade, also provide an important economic power to the sector. These shipowners need to grow by making profitable investments in order to survive and maintain their competitive advantage in such a dynamic and competitive market. Based on this, in the exploratory study, fifteen interviews were made with the managers of the fifteen shipowner companies operating in the field of tramp shipping sector, and their opinions were taken about the concept of growth, growth in terms of quality-quantity, the reasons for growth, the factors considered, and the problems encountered in growth process. The data obtained as a result of the interviews were analysed with MAXQDA 2020, a computer-aided qualitative data analysis program. According to the results of the research, it has been determined that the shipowner companies mostly grow by expanding their fleet; market conditions and economic situation of maritime sector play an important role in the decision to grow, and financing, economic crises and government policies and laws are barriers to growth.