Turmoil in the Shipping Industry: Implications for Today’s Global Supply Chains
Abstract
This exploratory article addresses the reasons for the crisis that struck the shipping industry with the bankruptcy of South Korea’s Hanjin Corporation in August 2016 and further outlines some of the ongoing and far-reaching implications for today’s global supply chains. The article also outlines a few of the structural challenges facing the shipping industry and finally, identifies some strategies to alleviate these challenges. There are very few journal articles addressing the shipping industry woes; this article is an attempt to help students of supply chain management comprehend the challenges facing the shipping industry and consequently today’s global supply chains.