Business contingency and continuity plan by maritime firms in Singapore

• Main Author: Muhammad Fahrur Razi Bin Yusoff
• Other Authors: -
• Format: Final Year Project
• Language: English
• Published: Nanyang Technological University 2022
• Subjects: Engineering::Maritime studies
• Online Access: https://hdl.handle.net/10356/163750
• Institution: Nanyang Technological University

COVID-19 pandemic has been one of the most disruptive events in global history. Economic activities have seen high volatility causing uncertainties for businesses throughout the world. Maritime industry is no exception. Being derived by demand in nature, the industry sees highly uncertain movements in their demand and output since the beginning of COVID-19 waves. The importance of Business Continuity and Contingency Planning (BCCP) for businesses have been heavily emphasised for companies to ride the waves of uncertainty. This paper aims to investigate the impact of disruption caused by the pandemic on shipping firms such as ship-owner firms and ship-management firms in Singapore and find out how these firms mitigate the impact through BCCP. Background study, industry surveys and in-depth interviews were conducted to triangulate the finding for useful and comprehensive understanding of BCCP practices as well as obtaining feedbacks. As such, several recommendations are given which involves policy strengthening, stronger collaboration amongst shipping firms and taking advantage of technological advancement tool to achieve greater effectiveness of contingency planning and remain resilient in facing future major disruptive event.