Sustainability and strategic directions in maritime education and training provision: An exploration of employers’ perceptions

The paper explores the importance of sustainability from the perspective of prospective employers of future and existing Maritime Education and Training (MET) graduates. More specifically, it investigates employers’ views on the incorporation of sustainability into MET provision. For this purpose, a questionnaire survey that addresses the concept of sustainability – among other emerging trends - from the angle of maritime education and training was distributed to European shipowning companies in the context of related EU funded research (SkillSea). A total of 23 responses were received but, albeit the relatively small sample, the findings suggest clearly that there is a significant gap between the skills presently acquired through MET. They also reveal the need for METs to develop a strategy aiming at a more comprehensive inclusion of the mega-trend of sustainability as a subject into the curricula of the various types of MET institutions. This paper contributes to the literature by addressing the mismatch between current and future needs and related issues arising for maritime education and training.Peer Reviewe

A Novel Approach to Forecasting the Bulk Freight Market

The fast-paced and ever changing freight market compels maritime executives to use sound forecasting tools. This paper aims to enhance the forecasting accuracy of the Baltic Dry Index (BDI) by means of developing a multivariate Vector Autoregressive model with exogenous variables (VARX). The proposed model incorporates the Chinese steel production, the dry bulk fleet development and a new composite indicator, the Dry Bulk Economic Climate Index (DBECI). The predictive power of this approach is evaluated against a univariate ARIMA framework, which serves as a benchmark model. The selection of explanatory variables and the model specification are validated using a series of pertinent tests. The results demonstrate that the VARX model outperforms the ARIMA approach, suggesting that the selected independent variables can substantially improve the accuracy of BDI forecasts. The present study is of interest to maritime practitioners, as it provides useful insights into the direction of the freight market and allows them to make informed decisions

Strategic correlations for maritime clusters

Maritime clusters formulate appealing objects of study, for many viewpoints. At the same time, the theory is not homogenous nor compartmentalized, although some main themes do seem to be prevalent. The latter include innovation, competitiveness, strategy, and policy. Through an inclusive analysis of the literature, data mining is attempted within this body of knowledge. A dominant instance within the literature is the existence of a strategic case, along with the fact that this is rooted within a recurring constellation of topics vested within strategic management. These occurrences are categorized per generic premise, according to a coding protocol. The data is then adjusted into dichotomous variables, to investigate dependent samples' correlation. The aim of this methodology is to examine association between the categorical variables of academic impact and the presence of a strategic case. The results of the analysis are statistically significant. This research can provoke novel directions with respect to strategic and tactical decision making, for academia and practice. In addition, this work provides a rudimentary inventory of the literature of maritime clusters, that can aid the formulation and investigation of further statistical hypotheses

Strategy, policy, and the formulation of maritime cluster typologies

In recent years, clusters of industry have attracted multilateral attention, from academia and practice, alike. Clusters of industry relate to harbouring regional competitiveness; as such, they have come to be considered as important constructs for strategy and policy, that can be deemed as complementary domains. At the same time, maritime clusters are regarded as dynamic cases from a multitude of viewpoints. The concepts of strategic policy, particularly as they pertain to maritime clusters, require deeper understanding and more thorough analysis. In this context, cluster typologies surface as a useful instrument that can offer valuable insight. While this field instils the eventuality of facilitating policy and strategy within clusters, it remains relatively barren. This instance may present the opportunity to better elaborate on the formulation of models and frameworks that address the intricacies within maritime clusters. The research conducted introduces a three-tier framework for the generation of maritime duster typologies, that bears the potential to enrich strategic management and its eventual policy implications, towards a more streamlined and informed manifestation