The aim of this paper is appraisal of external and internal factors determining the functioning and growth of Polish shipping companies with particular emphasis on Pol-ska Żegluga Morska (PŻM). Present PŻM operating environment has been presented in relation to past 55 years of the company’s history. The legal, organizational and func-tional analysis for the years 1951 through 2005 has confirmed the argument that state ownership of the company’s assets is not an obstacle in reaching positive economic results and in company growth. Particular attention has been paid to human factor and its important role in the development of companies forming the PZM Group.
Applied methods of strategic and marketing analysis have led to formulation of de-velopment trends, main aims and strategic tasks whose implementation will increase PŻM competitiveness in the global market of seaborne transport.