There is enormous potential in data usage and information sharing in shipping, writes OECD's International Transport Forum, ITF, in a new report and lists five concrete recommendations. But the organization also points to several challenges that could prevent stakeholders from realizing this potential.
New ways to utilize data and educating employees is supposed to lower Maersk Tanker's bunker bill this year. It directly impacts the bottom line, says Brian Østergaard Sørensen, Head of Fleet Group Management, to ShippingWatch.
The CEO of digital contract exchange NYSHEX warns shipping companies against thinking that technology can solve all the sector's problems. "It's not a magic potion," he says in an interview with ShippingWatch.
Going forward, interested parties will be able to browse maritime data freely on the Danish Maritime Authority's webiste. The initiative is part of an effort to spur data-driven business development in the maritime sphere. And more will come.
If carriers want to be among the top players, it is crucial to pursue the new technological opportunities in the shipping industry within the coming years, Jesper Aagesen of Lloyd's Register Marine tells ShippingWatch. Several carriers are already doing it.
Technology has already been squeezed hard by the shipping industry, but it needs to be squeezed further. The business model is outdated, says Martin Stopford of Clarksons Research. Read on to learn of his solutions.