BUSINESS CHALLENGES OF COVID-19 PANDEMIC AND POTENTIAL STRATEGIES OF SUSTAINABILITY IN NIGERIA MARITIME SECTOR

Authors

  • Ikenna Amuka Institute of Maritime Studies, University of Nigeria, Enugu Campus, Nigeria
  • Ozumba Uzochukwu Institute of Maritime Studies, University of Nigeria, Enugu Campus, Nigeria
  • Nnamdi Chijoke Anyachebelu Institute of Maritime Studies, University of Nigeria, Enugu Campus, Nigeria

DOI:

https://doi.org/10.46827/ejefr.v5i1.1078

Keywords:

Covid-19, maritime sector, economic activity, sustainability

Abstract

Maritime transport is the foundation of global supply chain connections and economic development with shipping and ports estimated to manage more than 80 per cent of world merchandise trade by volume and over 90 per cent by value, according to United Nation Conference on Trade and Development (UNCTAD) 2020. Consequently, when severed covid-19 pandemic occur, there are absolute disruption of transport networks and supply chain which hugely undermined international trade and economic activity. The covid-19 pandemic activates health and economic crisis with extensive consequences for maritime transport and trade. Restrictions imposed in response to the covid-19 pandemic have triggered disruptions affecting economic activity and trade in maritime sector which includes ports operations, shipping and supply chains. The strategic measures taken to control the spread of the corona virus disease and slowdown of economic activity and trade have significantly affect the maritime sector both locally and globally. Thus, the study assesses the impacts of covid-19 pandemic in business operations of Nigeria maritime sector. Hence, this study analyzes the sustainable response to get back to business fully in Nigeria maritime trade. This study was performed by reviewing the available published literatures, case studies, and various government and non-government agencies/organizations from reports and official websites, served as the frameworks of the study. From huge compilation of relevant studies, presentation of data and information which is vital to maritime business challenges of covid-19 pandemic and potential strategies of sustainability and meet study objectives. JEL: R40; R42; L20

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Author Biography

  • Ikenna Amuka, Institute of Maritime Studies, University of Nigeria, Enugu Campus, Nigeria
    Ikenna Amuka has broad experience in both academics and non-academics fields. He holds B.Sc (Economics); M.Sc (Development Studies); and MBA (Business Management). His wealth of knowledge and experience earned him a position as Research Fellow, and Lecturer in the Institute of Maritime Studies, University of Nigeria, Nsukka, Nigeria.

References

Bakir Sahin et al. (2020). Effects of Covid-19 on Maritime: a review.

Deborah Oneil et al. (2020). How Covid-19 is Driving Maritime Organisation

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Hellenic Shipping (2020). How Covid-19 Ushers New Opportunities in Port Operations.

Hutchison Ports (2020). Covid-19 Accelerates Drive for Digitization of Shipping

IAPH – WPSP (2020). Guidance on Ports’ response to the Coronavirus Pandemic, Antwerp.

IAPH (2020). Accelerating Digitalization of Maritime trade and logistic: A Call to Action.

Nnamdi, et al. (2020). Nigeria: Embracing Post-pandemic facilities in the Maritime Industry.

Prosertek (2020). 5 Challenges of the Maritime Transport Industry must face due to Covid-19.

PWC Greece (2020). Shipping Industry responding to the Covid-19, keeping the lights on with a response strategy plan.

UNCTAD (2020). Covid-19 and Maritime Transport: Impact and responses

World Bank (2021). Digitalizing the Maritime Sector set to Boost the Competitiveness and Resilience of Global Trade.

Yim Lam (2020). Technology will help Maritime transport navigate through the pandemic and beyond.

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Published

2021-06-09

Issue

Vol. 5 No. 1 (2021)

Section

Articles