Digital acceleration in the port sector

The shipping sector has been characterized by being very traditional and not very adventurous when it comes to implementing new solutions that imply drastic changes in its behavior. However, the port industry has grown in the last 3 months than in the last 3 years, and all due to the Covid-19 pandemic.

Currently, it has been possible to evidence a striking trend for the implementation of digital tools and platforms aimed at the digital transformation of ports and shipping companies. This without leaving aside those aimed at cybersecurity that today has become a primary concern for any sector.

The technological implementation in the port sector is considered the second major transformation of the industry after the creation of containers, taking as one of the main contributions the digitization and automation of processes. The implementation of software that performs merchandise traceability and the interconnection of ports are just some of the improvements that the sector has received, and can only provide greater visibility and confidence in the port industry.

However, the change in the sector is not only limited to technological tools. There is also hard work together to encourage ecological work practices such as the development of green hydrogen for the decarbonization of maritime transport that can offer greater sustainability to the industry.

These are great advances for an industry that has always been considered extremely conservative. However, the need to face a situation like the pandemic has provided numerous opportunities for startups and venture capital companies to enter an industry that generates billions of dollars a year.

 

The first Japanese shipping company to join the Ship Recycling Transparency Initiative

NYK became the first Japanese shipping company to join the Ship Recycling Transparency Initiative (SRTI). A platform that consists of leading shipping companies, carriers, and financial stakeholders, including investors, lenders, and suppliers of insurance.

The purpose of the instance is to promote transparency in ship recycling and provide information to interested parties, such as cargo owners, banks, investment institutions, and insurance companies, by sharing information on the SRTI website on policies, ship recycling practices, and advances of participating shipowners.

NYK highlighted that ships contain a large amount of high-quality iron and proper disposal of valuable recyclable resources is important for realizing a circular economy.

Furthermore, minimizing industrial accidents and environmental pollution when ships are dismantled have been issues that have received international attention.

NYK, from now on, will further promote the transparency of the ship recycling process through the company’s participation in the SRTI so that stakeholders can be assured that company-owned ships are recycled safely and properly.

At the same time, NYK assured that it will promote responsible ship recycling within the global shipping industry, which considers safety, the environment, and human rights to be of the utmost importance and aims to build a healthier supply chain.

Promoting transparency in ship recycling through participation in the SRTI reflects the company’s initiative to achieve NYK’s environmental management goal of reducing CO2 emissions per tonne-kilometer of transportation by 50% by 2050.

Source: Portal portuario

 

How will the Blockchain influence the aeronautical industry?

Although the financial sector was the first to benefit from new technologies such as blockchain, today it is the aeronautical industry that takes the most advantage of it, but the question is, how?

Currently, most of the crucial information needed to keep aircraft operational is processed manually and when it comes to aircraft that carry hundreds, thousands, and even millions of parts, it becomes a nightmare to track each maintenance of each aircraft. Many times it brings with it human errors that can trigger air accidents and human and material losses.

What technologies such as blockchain can bring to the aeronautical sector is facilitate the traceability of each spare part. From its manufacture, through its configuration, maintenance, or replacement.

Blockchain technology can generate a birth certificate for each part of an aircraft and thus provide access and update of its current condition each time the aircraft is inspected. This will allow everyone involved to be aware of the real state of the airplane.

It is estimated that the use of blockchain could increase the industry’s revenue by up to 4% which translates to about 40,000 million dollars, while it could cut maintenance costs by 5%.

The aerospace industry will be in constant search to integrate new technologies that strengthen its capabilities, impacting on the improvement of services and their operation, so in the coming years, we will be able to see the full integration of this technology as well as the influence of artificial intelligence or 3D printing.

 

Alarms go off with mega-ships

After the Ever Given got stuck in the Suez Canal, maritime authorities raised their alarms, thanks to the new mega-ships being built today.

With the growing surge of international trade, the manufacture of vessels increases more and more and with it its size. This entails a great responsibility because the ports are not prepared for the reception of the new mega-ships.

“Ports and canals have not always been developed enough to accommodate extra-large vessels and in some cases, they have become relatively narrow and markedly reduced maneuvering space and margin for error,” explains Rahul Khanna.

Thanks to this, concern increases because the production of these mega-ships is only intended to cover the needs of one sector, without measuring the risks that may arise with maritime transport.

In this sense, China and South Korea are the ones currently in the battle for the production of ships: “In 2020, 43% and 41% of the world market of orders for the sector were respectively distributed.”

What are the consequences of mega-ships?

The biggest concern is undoubtedly the issue of collisions, accidents such as fires, or the danger posed by the size of the ships in ports. Also, the handling of a large ship in extreme weather situations.

 This leads to the movement of infrastructure that must be done in the ports, to optimize the departure and grounding of mega-ships.

You can read the full note in Portfolio.

 

E-Commerce and the shipping sector, the perfect combination

After a year, the pandemic issue is still on the rampage. Many have seen the opportunity within the crisis and taken advantage of the mechanisms left by Covid-19 to get ahead. Such is the case of the shipping industry with E-Commerce.

Although the shipping industry has been as affected as other sectors, today can see the light thanks to the rapid growth of E-Commerce and the logistics systems that appear today to support electronic commerce.

“A McKinsey & Company study on the retail recovery from Covid-19 concludes that online penetration expected to remain six to 13 percentage points above pre-pandemic levels.”

Despite being a good omen for the shipping sector, this has been slightly affected by the lack of capacity of ships to transport the products that mostly come from China, which means that as well as many other sectors they were not expected. That a possible crisis will benefit them.

In this sense, the maritime transport service does not stop, and the opportunities are more. This being a time to optimize services through different technologies that can be applied to improve the planning of shipping lines and seaports.

An example of digitization is the logistics company Maersk, which has improved its system to bring its customers the best service thanks to the technological improvements it has made to its business model. Similarly, errors are minimized, and reliability is increased.

Do you want to know how digitization can help the nautical sector? Click here and learn a little more.

Source: Mundo Marítimo