COVID-19 and the financial resilience of Finland’s seaports

Pekka Leviäkangas (), Lauri Ojala (), Seong Mok Paik () and Veikko Pekkala ()
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Pekka Leviäkangas: University of Oulu
Lauri Ojala: University of Turku
Seong Mok Paik: University College Dublin
Veikko Pekkala: University of Oulu

Journal of Shipping and Trade, 2023, vol. 8, issue 1, 1-20

Abstract: Abstract This research quantifies the impacts that COVID-19 had on the financial performance of Finnish seaports. The data comprises annual financial statement information from 18 seaports. The ports are different in terms of ownership, size, and main lines of business. Most ports’ turnover dropped because of COVID-19, and their profitability declined. However, the ports were able to maintain their financial position quite well despite their declining turnovers. Statistically significant impacts of COVID-19 were observable regarding turnover growth, profitability, labor intensity and capital intensity. Surprisingly, ports with mainly import traffic had the least negative impacts on turnover growth.

Keywords: Port performance; Financial analysis; COVID-19; Finland (search for similar items in EconPapers)
Date: 2023
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DOI: 10.1186/s41072-023-00158-5

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