Maritime Challenges in Crisis Times

Abstract

The world today is extremely well connected and heavily dependent on maritime trade. The shipping market is the result of global production and as such is subject to cyclical changes, incidents and expansions. As part of such a market, maritime transport is vulnerable to external factors, such as international trade, political situations, financial trends, technological developments and legislation, which may directly or indirectly affect demand in the sector or similar. The negative effects of these changes are reflected in lower freight rates, lower daily rental prices and reduced prices of new or used boats. Maritime crisis have significantly affected income, wages, number of employees and similar. In this regard, the crisis management process plays a key role in reorienting strategies and structural reorganization. In order to ensure the development of the maritime sector, it is necessary to constantly invest in the growth of transport capacities, deepen ports, build new terminals and modernize existing ones. It also requires the advanced transport development and application, technological, technical, economic, organizational and commercial measures, in order to adapt to the environment. The efficiency of the maritime sector generally strengthens the country’s international and political position, as its activities are linked to international economic cooperation, attracting foreign investment, membership in international organizations and other key factors.