Abstract
Container shipping makes significant contribution to the global economy and is confronted with various hazards and risks especially during the COVID-19 pandemic. These risks can disrupt resilient container shipping service, leading to further deterioration of the global economy. Hence, it is vital to develop resilient container shipping service, which is associated with being on-time, safe, and hassle-free. Theoretically, this research identifies 28 root risks using the PESTLE framework, conducts risk assessment using a hybrid method comprising failure modes and effects analysis, evidential reasoning, and rule-based Bayesian network. A three-hierarchy Bayesian network model is established. The results reveal that economic, political, and technical risks are the most threatening risks affecting resilient container shipping service. Moreover, the holistic container shipping risk is most sensitive to environmental risks. Managerially, this research provides container shipping companies with guidance of drafting risk mitigation plans with economic risks and political risks as priorities.
| Original language | English |
|---|---|
| Article number | 108305 |
| Journal | Reliability Engineering and System Safety |
| Volume | 220 |
| DOIs | |
| Publication status | Published - Apr 2022 |
| Externally published | Yes |
Bibliographical note
Publisher Copyright:© 2021 Elsevier Ltd
ASJC Scopus Subject Areas
- Safety, Risk, Reliability and Quality
- Industrial and Manufacturing Engineering
Keywords
- Container shipping
- Evidential reasoning
- Failure modes and effects analysis (FMEA)
- Risk assessment
- Rule-based Bayesian network