Thursday, 16 November 2017 - In a joint initiative, the IMarEST and Clyde & Co sought insight on emerging technologies from more than 20,000 marine professionals around the world to understand the impact of technological change on the shipping industry.
Technology in Shipping
Technology is reshaping the marine industry. Over the next decade or so, new technologies promise to completely transform shipping: an industry that is the engine of 90% of global trade.
This often invisible enabler to the world economy will become more efficient and, in response to urgent environmental challenges, more sustainable too.
The transformation will invite a cycle of regulatory and legal change: regulators will have to rewrite the rules that have governed how vessels operate safely, efficiently and remotely. The changes will not take place overnight. Nor will the transition happen evenly. It will challenge traditional business models and companies will be forced to adapt in order to survive and prosper.
Clyde & Co and IMarEST teamed up in a joint initiative to seek insight on emerging technologies from more than 20,000 marine professionals around the world. Within this report we have provided an overview of the impact of emerging technologies today and identify the market’s key concerns regarding operating, staffing, insuring and implementing emerging technologies in the shipping sector.
Summary of findings
While cyber risks are acknowledged as an inescapable side-effect of technological advancement, over half of respondents believe risks associated with new IT-based solutions are manageable.
There is a lack of clarity regarding liability should a vessel be involved in an incident as result of a cyber attack. There is further uncertainty about the effectiveness and appropriateness of voluntary standards / mandatory regulations to tackle the problem.
The biggest cyber risk perceived remains human intervention – whether it be unintentional interference from employees or malicious attack by negative actors.
The majority of respondents raised concern over how difficult it will be to respond in an emergency on board an unmanned vessel. Concern was also expressed over a lack of clarity regarding collision regulation.
As for the impact on crew, the transition to unmanned vessels may lead to a long term erosion of seafaring engineering skills.
73% believe fuel availability will strong drive the market’s decision to adopt alternative energy management solutions. Other notable drivers included HFO price and the capital and/ or infrastructural investment required to support alternatives.
The top ranked advantages of energy management solutions include reduced fuel consumption, enhanced efficiency, improved corporate reputation and optimised operational profile.
74% believe port infrastructure is not adequate to support new solutions and strategies in energy management (e.g. shore power).
The majority of respondents do not think that existing regulations will make it difficult to incorporate energy management changes.
LNG is the most attractive alternative fuel source, however renewables (wind and solar) were also popular responses.