A Study of Trends on Diversification of Global Container Carriers

Sin, Hyeong-Hwan; Kim, Yul-Seong; Lee, Jeong-Min

doi:2025.49.1.107

J Navig Port Res > Volume 49(1); 2025 > Article

Article

Journal of Navigation and Port Research 2025;49(1):107-124.
DOI: https://doi.org/10.5394/KINPR.2025.49.1.107 Published online February 28, 2025.

글로벌 해운기업의 사업다각화 동향에 관한 연구

신형환¹, 김율성², 이정민³

¹국립한국해양대학교 해운항만물류전공 물류학석사
²국립한국해양대학교 물류시스템공학과 교수
³국립한국해양대학교 해양컨텐츠융복합협동과정 물류시스템공학전공 박사과정

A Study of Trends on Diversification of Global Container Carriers

Hyeong-Hwan Sin¹, Yul-Seong Kim², Jeong-Min Lee³

¹Master, Department of shipping and port Logistics, Korea Maritime and Ocean University, Busan 49112, Korea
²Professor, Logistics system engineering, Korea maritime and Ocean University, Busan 49112, Korea
³Doctoral researcher, Department of Convergence Interdisciplinary Education, Korea Maritime and Ocean University, Busan 49112, Korea

Correspondence: Jeong-Min Lee, Tel: 051)410-4890,
Email: jmjm3646@g.kmou.ac.kr

Received: 3 February 2024 • Revised: 10 February 2025 • Accepted: 17 February 2025

Abstract

The global shipping market is a cyclical industry. Uncertainty has recently increased due to various external factors. Recognizing limitations of solely focusing on maritime transport, global shipping companies are adopting business diversification strategies to mitigate risks and achieve sustainable growth. This study aimed to analyze global shipping trends and provide strategic implications for the domestic industry. Using LDA topic modeling, this study examined annual reports and press releases from five major global shipping companies to explore business diversification and integrated logistics strategies. Findings indicate that global shipping companies are strategically diversifying their business portfolio to encompass logistics services, supply chain management, digital transformation, and eco-friendly initiatives, complementing their core maritime transport operations. In contrast, domestic shipping companies demonstrate limited diversification and less robust integration with logistics sectors such as freight forwarding and warehousing. To enhance their global competitiveness, domestic firms must develop sustainable diversification strategies that are tailored to their business models and capabilities rather than relying solely on traditional shipping operations.

Key Words: shipping industry, global shipping company, business diversification, integrated logistics, LDA topic modeling