FACTORS AFFECTING THE FINANCIAL PERFORMANCE OF SHIPPING LINES IN KENYA
Abstract
Liner shipping being a sector of maritime transportation is finding it difficult to boost their financial performance. This proposal sought to determine the effect of cost management on the financial performance of shipping lines in Kenya. The proposal outlined four main objectives which were to determine the effect of charter hire cost, to determine the effect bunkers cost, to determine the effect of container management costs, and to determine the effect of insurance costs on financial performance of shipping lines. The target population was finance staff working in finance department of all shipping lines calling Kenya Mombasa port. The study focused on a sample of 77 staffs who were respondents in this study. Descriptive research design was used since all the companies had a representative office in Mombasa. Questionnaires were used as a means of collecting data from the respondents. Data resulting from the questionnaire was analyzed using Statistical Package for Social Sciences version 24, regression analysis and presented using charts and graphs. Secondary data was obtained from reports and records maintained by Kenya ships Agents Association, Kenya Ports Authority and Kenya Maritime Authority.
Key Terms: Charter hire cost, Bunker cost, Container cost, Insurance cost
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DOI: http://dx.doi.org/10.61426/sjbcm.v4i4.550
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