2017 has been a good year for the shipping industry. There were several positive developments in the industry, which has further prompted 2018 to continue the trends. A wide range of trends has been introduced in order to meet the growing demand for ships and the industry as a whole. From implementing green policies to the growing foothold of Asia in the trade, experts forecast quite a few changes this year as well. Want to know the top trends that can change the shipping industry completely? Keep reading to find out more.
Trend 1: Introducing A Green Ecology
The impact of the shipping industry on the environment has been raising concerns among the owners largely. In April 2018, the Chinese Ministry of Transport released “Action Plan for Promotion of Green Ports” which focuses on reducing the environmental footprint and promote more eco-friendly vessels. Cleaning techs such as low-sulphur fuels are being used largely to reduce the emissions from the ships. America and several European countries have also recognized this and are implying certain methods to deal with this grave situation. With the introduction of green technology, the potential for a massive change is immense.
Trend 2: Development of Asia-Pacific Shipping
The growing economic strength and the increase in the total volume of trade have put Asia-Pacific region, especially China in the forefront of the shipping industry. The shipping industry seems to be shifting eastward due to the massive availability of resources in here. Ports like Hong Kong, Macau, Shanghai, Guangdong and Hainan have been developing rapidly and gaining popularity in the global market by offering modern shipping and logistics services. The availability of these high-tech provisions has definitely cemented the place of Asia in the global circuit.
Trend 3: Developing Alliances and Growing Sizes of the Ships
Many shipping companies are joining hands together and forming alliances, which has helped reduced stiff competition, further boosting a healthy atmosphere. Since many companies are working together with a larger fleet available, the competition will definitely increase, but only in a good way. The size of the ships is increasing which can be attributed to the enhancement of resources put together by various companies together. With the sizes of the ship growing, the number of berths decrease but increase the loading and unloading capacity. This will further prompt the ports to employ a more intelligent infrastructure and efficient use of resources. The commercial and cruise ships for sale are rising significantly too. Almost 80% of the major liners in the world have formed alliances.
Trend 4: Rapid Improvement in Technology
The rapid use of technology in the development of the shipping industry in the last few years has shaped much of the recent transformation. However, the problems are still at large and need to be corrected. With more focus being put on introducing advanced technology, the fundamentals of the shipping business can be improved. Most of the bookings are still done manually and many of the invoices contain error. The Maersk cyber attack that took place in 2017 was an eye-opener for many shipping owners. Integrating tech with their shipping systems has become a top priority. With the rapid improvement in technology, integration won’t be a problem.
The introduction of these trends has already started changing the face of the industry. We all will have to wait and see how each of the trends turns out.
