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Table of Contents TABLE OF CONTENTS 1. INTRODUCTION ..................................................................................................................................................... 7 1.1. The research funnel ........................................................................................................................................ 7 1.2. Delimitations ................................................................................................................................................... 9 1.3. Assumptions .................................................................................................................................................. 11 1.4. Significance of the study .............................................................................................................................. 11 1.5. Organization of the paper ............................................................................................................................ 11 2. LITERATURE REVIEW ........................................................................................................................................ 12 2.1. Supply chain management in container shipping ..................................................................................... 12 2.2. Container shipping inDustry ....................................................................................................................... 12 2.3. Profit theories ............................................................................................................................................... 26 3. METHODOLOGY .................................................................................................................................................. 33 3.1. The research onion ....................................................................................................................................... 34 3.2. The systems approach .................................................................................................................................. 48 3.3. Validity .......................................................................................................................................................... 48 4. MODEL DEVELOPMENT .................................................................................................................................... 51 4.1. Measurement of profits in container shipping inDustry ........................................................................... 51 4.2. The profit Distribution moDel ...................................................................................................................... 55 5. ANALYSIS .............................................................................................................................................................. 58 5.1. Profit Distribution in container shipping inDustry system ....................................................................... 58 5.2. Determinants of profit Distribution in container shipping inDustry ....................................................... 71 6. CONCLUSION ..................................................................................................................................................... 118 1 7. LIMITATIONS and FURTURE RESEARCH .................................................................................................... 118 APPENDIX ..................................................................................................................................................................... 121 Bibliography ................................................................................................................................................................... 159 LIST OF TABLES Table 1. Extract from the full table of data-item definition (Own production) ................................................................. 44 Table 2.Informant profiles (CBS, n.d; CBS, n.d; BIMCO, n.d) ........................................................................................ 47 Table 3. The validity concepts (Mentzer & Flint, 1997) ................................................................................................... 48 Table 4. Freight transport modal split in EU-28, U.S., China in 2016 .............................................................................. 67 Table 5. Freight transport traffic in EU-28, U.S., China in 2016 in Bt-km ....................................................................... 68 Table 6. Share of Intermodal Rail in total Freight Rail transport in % ............................................................................. 69 Table 7. Revenue estimates for Inland Carriers in 2016 (Bureau of Transport Statistics, n.d.) ........................................ 70 Table 8. Operations Cost estimates for Inland Carriers in 2016 (Maibach, et al., 2006) .................................................. 71 Table 9. Sources of cost data employed in analysis (Own production) ............................................................................ 74 Table 10. Container Lessors’ Fleet Composition 2017 in thousand TEUs (Drewry, 2018) ............................................. 88 Table 11. EoS regression table for Liner Operators (Own production) ............................................................................ 91 Table 12. Determinants of profit distribution in container shipping industry (Own production) ................................... 116 Table 13. The shortfalls of secondary data (Own production) ........................................................................................ 121 LIST OF FIGURES Figure 1. The Research Funnel (Robert, 2010) ................................................................................................................... 9 Figure 2. Interorganization interaction and cargo movement in container trade (Schramm, 2012) ................................. 15 2 Figure 3. Drivers of Container Leasing Demand (Dahl, 2018) ......................................................................................... 17 Figure 4. Container terminal community (Martin & Thomas, 2001) ................................................................................ 22 Figure 5. Transportation chain (Nijdam and Van der Horst, 2018) .................................................................................. 23 Figure 6. Profit Distribution as a construct (Own production) .......................................................................................... 26 Figure 7. The domains of business performance (Venkatraman & Ramanujam, 1986) ................................................... 33 Figure 8. The Research Onion (Saunders et al., 2016) ...................................................................................................... 34 Figure 9. Deduction and Induction logic (Own production) ............................................................................................. 36 Figure 10. The Research Design (Own production) .......................................................................................................... 37 Figure 11. Data Collection Process (Own production) ..................................................................................................... 39 Figure 12. Data sampling process (Own production) ........................................................................................................ 40 Figure 13. Evolution towards the adoption of EBIT as a measure of profit (Own production) ........................................ 52 Figure 14 The Profit Distribution Model in Container Shipping Industry (Own production) .......................................... 55 Figure 15. Profit distribution in container shipping industry in 2016 (Own production) ................................................. 59 Figure 16. Revenue estimate of liner operator segment (Own production) ...................................................................... 64 Figure 17. Revenue per TEU estimated by Alphaliner (Alphaliner, 2018) ....................................................................... 65 Figure 18. The process of Revenue and Operations Cost calculation for Inland Carriers (Own production) .................. 69 Figure 19. Intermodal market segments (UIC, 2010) ........................................................................................................ 70 Figure 20. RQ2 Analytical scope (Own production) ......................................................................................................... 72 Figure 21. Cost structure per segment in 2016 (Own production) .................................................................................... 73 Figure 22. Kuehne+Nagel Cost Structure 2013-2017 (Own production) ......................................................................... 75 Figure 23. Cost structure of Triton, Textainer, CAI, and Touax in 2016 (Own production) ............................................ 77 Figure 24. Cost structure of Hapag-Lloyd 2013-2017 (Own production) ......................................................................... 79 3 Figure 25. Cost structure of ZIM 2013-2017 (Own production) ....................................................................................... 79 Figure 26. Cost structure of Hutchison, PSA, DP World, and ICTSI in 2016 (Own production) ...................................
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