Navigating growth in tramp shipping: The role of resources and dynamic capabilities in Turkish shipowning firms

The tramp shipping sector, a vital component of global maritime trade, operates in a highly competitive and volatile environment. This study investigates the growth strategies employed by Turkish tramp shipping companies through the integrated Resource-Based View (RBV) and Dynamic Capabilities (DC) perspectives. Despite the strategic importance of the sector, empirical research integrating these theoretical perspectives remains limited, particularly within the Turkish context. Data were collected through semi-structured interviews with managers from ten Turkish tramp shipping firms and analyzed using MAXQDA 2020. The findings indicate that fleet expansion, strategic alliances, and operational efficiency constitute the primary growth strategies adopted by the firms. Sustainable growth depends not only on valuable firm resources but also on the ability to sense market opportunities, seize them effectively, and continuously reconfigure resources in response to changing market conditions. The study also identifies financing constraints and increasing regulatory pressures as major barriers to growth. These findings contribute to the strategic management and maritime management literature by providing an integrated explanation of sustainable growth in tramp shipping while offering practical implications for industry managers.