A study of risks in maritime transportation specialised shipping industry

• Main Author: Lo, Shu Wen.
• Other Authors: Teo Chee Chong
• Format: Final Year Project
• Language: English
• Published: 2011
• Subjects: DRNTU::Engineering::Maritime studies::Maritime management and business
• Online Access: http://hdl.handle.net/10356/45425
• Institution: Nanyang Technological University

Transportation is a critical element in supply chains as it provides linkages to supply chain activities. Shipping is one of most common and economical means for transporting large volumes of goods over great distances. As such, risks embedded in the maritime transportation leg of supply chains need to be looked into and addressed to ensure safe shipping and prompt delivery to the end destination. Firstly, the report discusses the causes and impacts of maritime transportation risks of the specialized shipping industry, namely the crude oil and liquefied natural gas (LNG) supply chains. As the stakeholders of maritime transportation include shippers, carriers and terminal operators, analysis is done from the respective perspectives. Secondly, to ensure minimum delays and schedule reliability, mitigation strategies are reviewed. The determination of tolerance level for each risk plays a part in company’s decision on the allocation of resources and actions taken to mitigate the negative effects. Lastly, it is important that stakeholders understand and view the supply chain as a whole. In order to achieve efficiency and profitability of supply chain, collaboration among supply chain partners is paramount.