Hub-and-Spoke collusion in the port intelligence investment system: A case study of Shanghai Port

•Maritime market has transcended traditional competition and collusion.•New collusion strategy from the perspective of port intelligence investment.•Hub-and-spoke collusion strategy can significantly enhance overall revenue.•The stability of which gradually increases with rising competitive pressure. In the post-pandemic era, the maritime market has transcended traditional horizontal competition and collusion, giving rise to a new form of collaboration in both horizontal and vertical dimensions, known as hub-and-spoke collusion. This study provides a comparative analysis of competition and collusion strategies in the maritime industry from the perspective of port intelligence investment across five scenarios. The research findings suggest that hub-and-spoke collusion strategy can significantly enhance overall revenue in the shipping sector within a certain range. Unlike traditional horizontal and vertical collusion methods, hub-and-spoke collusion strategy operates more covertly and yields greater profits tending to occur within emerging or oligopolistic industries, the stability of which gradually increases with rising competitive pressure. However, excessive competition weakens its stability.