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From the CSA president, David Jean-Marie

Embracing new technology to improve efficiency

There is no doubt that 2017 was another challenging year for the shipping industry in the region and also in the wider global context. Persistent overcapacity, weak global trade and freight rate volatility continue to create stormy waters that test our resourcefulness.

The fact that we have weathered the storm is testament to our resilience in the face of significant change. And while there are some encouraging signs trending towards improved market conditions and stability, we must acknowledge that we have a fair distance to go before we can realise this outcome. So as we forge ahead with a healthy dose of cautious optimism, we must adequately plan for the difficulties ahead and take the long-term view to ensure the viability of the industry.

Preparing for the future

david jean marieIn adopting the long-term view, it is important that we focus our attention on the developments that will shape the future of the sector. The shipping industry has long had the reputation of being conservative and slow to change, but I do believe that many of the players increasingly understand the value and necessity of staying on the cutting edge.

It is certainly in our best interest to embrace doing business in the technological age. To continue to hold on to analogue processes in the fast-paced, digital maritime ecosystem of today will only ensure that we are left behind. The industry is poised for great transformation in the months and years to come; and we must position ourselves to take advantage of the opportunities that arise.

A considerable portion of the groundwork for this transformation has already begun with developments that link e-commerce with the logistics supply chain. This has brought us to the cusp of what some industry experts are calling ‘revolutionary’ – blockchain technology.

Read more: From the CSA president, David Jean-Marie

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