What future the maritime sector?: Some considerations on globalisation, co-operation and market power

Competition between maritime companies is fierce, as, for that matter, is competition between port authorities or indeed between maritime companies on the one hand and port authorities on the other. This continuing struggle may be considered a consequence of a changed world economy, characterised by an international redistribution of labour and capital, and an integration and globalisation of markets. At the same time, a variety of co-operation agreements have materialised. These agreements assume different forms. However, the real objectives, the tools used and the impact realised are not always clear. The purpose of this paper is to take away some of the above uncertainties by examining the economic consequences of possible evolutions in the market in which shipping companies and ports operate.