A Bayesian network model for container shipping companies' organisational sustainability risk management

Serving as the backbone of the international trade, the shipping industry is transforming towards sustainability or environmental, social, and governance (ESG). However, this transformation towards sustainability can cause new and complex challenges and risks to the shipping companies given that the...

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Main Authors: Zhou, Yusheng, Yuen, Kum Fai
Other Authors: School of Civil and Environmental Engineering
Format: Article
Language:English
Published: 2024
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Online Access:https://hdl.handle.net/10356/173288
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Institution: Nanyang Technological University
Language: English
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spelling sg-ntu-dr.10356-1732882024-01-23T04:44:35Z A Bayesian network model for container shipping companies' organisational sustainability risk management Zhou, Yusheng Yuen, Kum Fai School of Civil and Environmental Engineering Engineering::Maritime studies Container Shipping Sustainability Risks Serving as the backbone of the international trade, the shipping industry is transforming towards sustainability or environmental, social, and governance (ESG). However, this transformation towards sustainability can cause new and complex challenges and risks to the shipping companies given that the shipping industry is a traditional B2B industry. This research identifies 45 sustainability risks confronted by container shipping companies comprising economic, social, and environmental perspectives. A Bayesian network model is developed to assess the container shipping company's overall sustainability performance. Mitigation strategies are also designed. Theoretically, this research establishes a customised evaluation and mitigation framework for container shipping companies’ sustainability risks considering a decision maker's risk appetite. The five most influential risks are ‘weak organisational governance’, ‘insufficient seafarer training & education’, ‘weak social sustainability culture’, 'maritime accident', and ‘weak environmental sustainability culture’. Managerially, this research shows that the most cost-effective solution for container shipping companies is to implement or improve internal control mechanisms. 2024-01-23T04:44:35Z 2024-01-23T04:44:35Z 2024 Journal Article Zhou, Y. & Yuen, K. F. (2024). A Bayesian network model for container shipping companies' organisational sustainability risk management. Transportation Research Part D: Transport and Environment, 126, 103999-. https://dx.doi.org/10.1016/j.trd.2023.103999 1361-9209 https://hdl.handle.net/10356/173288 10.1016/j.trd.2023.103999 2-s2.0-85179483181 126 103999 en Transportation Research Part D: Transport and Environment © 2023 Elsevier Ltd. All rights reserved.
institution Nanyang Technological University
building NTU Library
continent Asia
country Singapore
Singapore
content_provider NTU Library
collection DR-NTU
language English
topic Engineering::Maritime studies
Container Shipping
Sustainability Risks
spellingShingle Engineering::Maritime studies
Container Shipping
Sustainability Risks
Zhou, Yusheng
Yuen, Kum Fai
A Bayesian network model for container shipping companies' organisational sustainability risk management
description Serving as the backbone of the international trade, the shipping industry is transforming towards sustainability or environmental, social, and governance (ESG). However, this transformation towards sustainability can cause new and complex challenges and risks to the shipping companies given that the shipping industry is a traditional B2B industry. This research identifies 45 sustainability risks confronted by container shipping companies comprising economic, social, and environmental perspectives. A Bayesian network model is developed to assess the container shipping company's overall sustainability performance. Mitigation strategies are also designed. Theoretically, this research establishes a customised evaluation and mitigation framework for container shipping companies’ sustainability risks considering a decision maker's risk appetite. The five most influential risks are ‘weak organisational governance’, ‘insufficient seafarer training & education’, ‘weak social sustainability culture’, 'maritime accident', and ‘weak environmental sustainability culture’. Managerially, this research shows that the most cost-effective solution for container shipping companies is to implement or improve internal control mechanisms.
author2 School of Civil and Environmental Engineering
author_facet School of Civil and Environmental Engineering
Zhou, Yusheng
Yuen, Kum Fai
format Article
author Zhou, Yusheng
Yuen, Kum Fai
author_sort Zhou, Yusheng
title A Bayesian network model for container shipping companies' organisational sustainability risk management
title_short A Bayesian network model for container shipping companies' organisational sustainability risk management
title_full A Bayesian network model for container shipping companies' organisational sustainability risk management
title_fullStr A Bayesian network model for container shipping companies' organisational sustainability risk management
title_full_unstemmed A Bayesian network model for container shipping companies' organisational sustainability risk management
title_sort bayesian network model for container shipping companies' organisational sustainability risk management
publishDate 2024
url https://hdl.handle.net/10356/173288
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