Maritime logistics is the backbone of the supply chain. It allows for the cost-effective movement of goods across countries and facilitates 95% of the UK’s trade. The global maritime sector will be worth an enormous $3 trillion by the year 2030. But because of the pandemic, maritime organizations have had to implement new digital ways to maintain international trade flow. As we ride out the COVID-19 wave, the maritime sector will begin to play an even bigger role as it explores new technology.
One of the main criticisms often heard about the maritime industry is its slow ability to adapt to changes in the market. However, in this case, being slow to adopt new practices could be an advantage. Much of the tech needed for a successful transition is now widely available at an affordable cost. Shipping companies will have to digitize their operations for profit and efficiency. They will have to attract new talent with innovative ideas. Also, existing talent will have to adjust to significant changes and be willing to think outside the box of recent norms. The future of maritime will be an extremely collaborative effort.
The pandemic jumpstarted some amazing technology in the logistics industry. The widespread deployment of satellites and updated ship broadband connectivity have already improved operational performance. It has also enhanced the quality of life for thousands of seafarers, which is the greatest accomplishment by far. Connectivity available around the clock allows crews to react appropriately and quickly to changing local and global events.
Automations will also be playing a bigger role in the maritime sector. Automating dangerous or repetitive onboard tasks is an amazing opportunity. It will create countless benefits, mainly reducing human error that tends to play a role in sea accidents. An improvement in efficiency could also lead to more significant profits for port operations.
It looks like we will see rapid improvements in the maritime sector, and we look forward to watching the progress as it comes.