The Growth of Maritime Communications and Technology Related to the Trends in the Shipping Industry: A Financial Perspective

Eleftherios Charamis, Dimitrios Charamis (), Grigorios L. Kyriakopoulos () and Stamatios Ntanos
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Eleftherios Charamis: Department of Accounting and Finance, Laboratory of Accounting and Financial Management (LAFIM), Hellenic Mediterranean University, 71410 Heraklion, Greece
Dimitrios Charamis: Department of Accounting and Finance, University of West Attica, 12243 Egaleo, Greece
Grigorios L. Kyriakopoulos: School of Electrical and Computer Engineering, National Technical University of Athens, Zografou Campus, 15780 Athens, Greece
Stamatios Ntanos: Department of Business Administration, University of West Attica, 12243 Egaleo, Greece

Economies, 2025, vol. 13, issue 4, 1-18

Abstract: This explanatory empirical study aims to investigate the relationship and contribution of the prevailing trends and factors within the shipping industry related to the maritime communications and technology market. It is widely acknowledged that the maritime industry is currently experiencing a rapid transformation, primarily propelled by new safety and environmental regulations but also driven by the growing emphasis on operational efficiency. The ongoing technological advancements in the maritime communications and technology market have significantly transformed the industry, offering opportunities for innovation and efficiency gains. This paper examines key trends and factors in the shipping industry that are crucial for further boosting the maritime communications market’s expansion, thus growing both technologically and financially. From the results of our study, we conclude that the increase in the volume of international maritime trade and the volume of the global fleet are indicators that should be considered as incentives by the maritime communication and technology firms in order to provide additional solutions, thus gaining a competitive advantage and subsequently gaining market size against their competitors. On the other hand, the fluctuation of freight rates is not to be considered an indicator of shipping firms’ intention to purchase the new products and services of maritime technology; a reduction in freight rates and, subsequently, in available income is not a preventing factor for adopting and exploiting the benefits of new technological solutions.

Keywords: shipping; maritime communications; digital technology; economic growth; financial growth (search for similar items in EconPapers)
JEL-codes: E F I J O Q (search for similar items in EconPapers)
Date: 2025
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