The Future of the Shipping Industry

[lotuscontainers]

The shipping industry is carrying a significant portion of world trade and is rapidly changing and evolving to fulfil commercial marketplace requirements. Technological advancements, materials, and fuels affect the vast and complex logistics and shipping container industry. While talking about environmental pollution, the shipping industry is always in focus. Still, revolutionary green projects have changed the scenario by ordering new ships with dual-fuel advancement without emission, making them more competitive and cost-effective. Talking about the future of the shipping industry, we can observe the emerging technologies that are scaled up and streamlined into the adherent ecosystem. It is shaping a better future for the maritime industry across the world.
According to the United Nations Conferences on Trade and Development (UNCTAD), the average growth rate of the shipping industry is around 3.8% per year from 2018 to 2023.

Trends determining the future of the industry
The 5 major trends which are dynamically changing the shipping industry and creating new opportunities are:
Digital Censoring
The ship operation monitoring technology and performance are rapidly evolving, which ensures that future ships are equipped with a complete sensor network to determine the operations, like detecting faults and identifying the portions that require maintenance. The robust ship-to-shore communications are increasing, which can be operated by a land-based fleet manager’s team.

Green Shipping
The shipping industry holds a bad name for generating environmental issues, which put constant pressure on the sector to reduce its carbon footprint and achieve zero emissions. The shipping fleet is coming up with new technologies, which include low carbon fuels, more streamlined hulls, efficient propeller design, enhanced voyage planning to save energy, advanced hull coating, and air cushion, which reduces friction.

Use of LNG (Liquified Natural Gas)
The growing interest of industries in LNG as commercial fuel for commercial shipping is believed to help operators to meet the requirement of reducing the emission and being cost-effective simultaneously. It reduced the carbon footprint by 25% as compared with diesel engines. The use of conventional oil-based fuel is dominating; there is still an increase in the LNG adoption for specialist vessels which catalyzes the opportunities for the industry to develop on a larger scale.

Adoption of Solar and Wind energy
The shipping industry is also trying hands-on renewable energy to power the fleets. Some of the technologies are already tried and tested. The Turanor PlanetSolar is powered by 29000 solar cells, and the operation was highly successful. Using this technology in commercial shipping will reduce the consumption of fuels by supplementing the existing power supply with wind turbines and solar panels.

Bigger Megaships
The advancement in ship technology, structure, and material is leading to bigger mega-ships, especially in the container ship sector. MOL Triumph is the largest container ship in the world which measures 400m long and carries 20,150TEU shipping containers. The manufacturers will take advantage of vessels’ low transportation costs by increasing production.

What is the future of the marine industry?
In the future, ships will be powered by the green ammonia fuel cell system, wind-assisted propulsion technology, and the complex digital guidance system that will compile and analyze the most fuel-efficient routes. The future is filled with vast mega-ships with LNG as fuel and onboard carbon-reducing technology. The ships will reduce their carbon footprints despite the big size.
Now, the question is which companies will control the shipping industry. This indicates that fewer companies decide the rate of innovation and efficiencies for rolling out port handling. Technology has the power to change even the most traditional sector. The availability and the use of technology like autonomous ships, drones, big data, and blockchain will combine to enhance the supply and demand of the shipping industry. It is also responsible for the decisions of exporters, importers, port operators, and shipping lines in the future.

The shipping industry is expected to proliferate in upcoming years, even after facing many geopolitical and commercial uncertainties. The concentration of port capacity, shipping lines, and technologies are some catalysts that can bring about change in the shipping industry.
For more such intriguing articles, keep in touch with LOTUS Containers. We are one of the most advanced and prominent shipping container suppliers that provide cargo containers by being in tandem with sustainability and harnessing the power of IoT. We help you get freight containers in Germany, the USA, Spain, and other parts of the world with maximum affordability and ease.

[cappy]

kidneys on toast = sh-t on a raft.

what about... darkies in the cotton field ...well known in geordie tramps R683532

[john walker]

Tenders brings to mind well done steaks. Liferafts wasn’t that a nickname for mushrooms on toast or something similar. ? May have been kidneys on toast ? JS

Sardines on toast, sharks on a raft

[happy daze john in oz]

In the USA, scrambled eggs on toast

''Two on a raft and wreck them'

[George Bis]

Interesting article!

[Dave Francis]

Milady, I have lived in Bloomington, Indiana and previous to that in Winnetka, California, USA since 1979. And no, I did not mention the Cornish tin mines, but I hope next year to return to the Duchy of Cornwall and visit, many ruins, and perhaps even locate my ancestor's castle? In my younger days, I took many trips from my families home near London, with lady friends from Columbus, Ohio, Australia, Canada and South Africa many times. I have been drawn there to areas near St. Ives and Mouse hole. My Genealogy begins with King Knut, a Viking of Sweden and his son Harold Bluetooth, who married the Queen of Norway at the time around 844, but as yet not found the descending chart of heraldry to the bloodline in Cornwall. It might be my heritage to return to Cornwall and settle. I often think of Cornish Pasties and the quiet, fishing villages and the plentiful supply of fish.
Have a wonderful year, yours respectfully, David Francis.

[happy daze john in oz]

The Future of the Shipping Industry.

In a nutshell, there is not one any more.
Not as we knew it and likely will never be again.

Shipping now is done by companies we never knew, companies who employ peopel we have never met, and pay them less in real terms that we were paid.

My neighbor works the cranes in Port Melbourne and as he tells me the shipping is nothing now compared to even 20 years ago.

[Ivan Cloherty]

My neighbor works the cranes in Port Melbourne and as he tells me the shipping is nothing now compared to even 20 years ago.

Depends on your perspective, world trade has increased a thousand fold since our days at sea but carried in fewer ships, one modern ship of medium size (100,000 dwcc) carries what 10 Liberty ships used to carry, in our day a bulker of 25/30,000 dwcc was considered big, bulk carriers of 250,000+ dwcc are common place these days, there are over 1000 dedicated vehicle carriers (not ferries) plying various seas so naturally there looks to be fewer ships, which in fact is not true, at the last census by IMO there over 100,000 vessels over 100grt sailing the seven seas,; sad though it may appear they seem to be managing quite well without the traditional seafaring nations such as ourselves, though it pains me to say so. With all due respect to your crane driver Melbourne port is hardly a barometer for measuring world trade, fly over Singapore on any given day and you will see over 100 ships at anchor waiting to go in various directions and probably the same number traversing the Singapore and Malacca Straits

[Keith Tindell]

Have to agree about the number of ships still trading the seas, i went on the AIS site a few days ago, and pan out so you get a picture worldwide, and there just seems to be many many vessels, of course they belong to other nations, not ours, try the site, i think even looking at the English channel is mind boggling.

[Keith Tindell]

I can recall when we crossed the pacific in the early 60s, we could go a week or more and not see another ship, when i log on to the AIS system and look at the pacific, it seems relatively busy. you can also see how many ships are even down in the antarctic region, mainly fishing, kt

[Des Taff Jenkins]

HI Keith
I see that Donald Trump IF elected will stop all Chinese ships coming to the States with their goods. Walmart will go belly up.
Des