Future Of Shipping

Today, globally, the industry is exploring and implementing new technology in all spheres of the trade. Ports, ships, systems and processes, and allied services are all getting a technological facelift. The industry's efforts to digitize are also being aided by startups that are creating tech solutions specially for it. Technologies like Robotics, AI, machine learning, internet of things, blockchain, drones, and augmented reality are being harnessed to create a safer, efficient, and more productive environment to carry out export and import trade. While there are many changes that are happening in the world of shipping - and all are important, here are some that have captured our interest: Robotic Technology: Robots have infiltrated almost every industry in some way or the other.

Hyperloop Transport System: Hyperloop, an idea conceptualized by Elon Musk, is a transport system that is designed to carry people or cargo from one destination to another via a tube at a speed more than 700 mph. Along with the rest of the world, this technology has also caught the attention of Prime Minister Narendra Modi and the Chief Minister of Maharashtra Devendra Fadnavis. The Hyperloop One will help facilitate quick transportation of palletized cargo and lightweight cargo between the port and industrial zones in Pune.

Smart Ships: We have smart gadgets, smart homes, and smart cities, then why should ships be left behind? Ships are set to become smart, tech-savvy, and autonomous soon. Automated ships will add a technological edge to the shipping industry by improving efficiency, productivity, and carrying capacity. Since these ships will be remotely managed, the fear of loss of lives of crew members at sea will be eliminated and in a way it will also change the profession.

Blockchain Technology: The blockchain technology is now no longer limited to bitcoins. It is being explored by various industries to manage, transfer, and store data in a safe and secure manner. Shipping is also among the industries exploring technology to add efficiency to processes and integrate the supply chain from start to end. The system based on blockchain technology will make it easy to transfer data and track cargo in real-time till it reaches the destination.

Augmented Reality: AR is another technology that can add immense value to the shipping industry. It can optimize cargo planning, aid maintenance and inspection, navigation, connect global teams, and help in creating awareness about the industry which is not easily accessible to people not connected to it. Very rarely does a person not in the industry get to visit a container ship or for that matter the port. AR can make it possible to provide outsiders with a view of the industry. Port360, a virtual tour of the Port of Rotterdam, is one such example of this technology being used for connecting with businesses and educating people not connected to the world of shipping about the port and how it operates.

Image source: Port of Rotterdam (1st to implement AR technology).

Shipping is changing and the speed at which technology solutions are being created for the industry, it would not be wrong to term this period as a rebirth of one of the world's oldest industries.

Citation:

The Shipping Revolution: 5 technologies that are transforming the shipping industry. Cogoport. (n.d.). Retrieved December 6, 2021, from https://www.cogoport.com/blogs/technologies-transforming-shipping-industry.