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Global Shipping Industry Is Inching Toward Digitization, Study Says

The maritime industry and broader ocean supply chain are suffering from major and costly inefficiencies due to ineffective data sharing and poor cross-industry collaboration, according to a report and industry survey by the Business Performance Innovation (BPI) Network.

Global Shipping Industry Is Inching Toward Digitization, Study Says

The study indicates that importers, exporters, container carriers, terminal operators, vessel owners and other stakeholders suffer from poor visibility and predictability around shipments and are losing money due to a lack of partner synchronization and insufficient data insight.

However, there is recognition, particularly among industry leaders interviewed, that digitization and mindset shifts are afoot, and will be a boon to all players in the industry. “Everyone benefits from collaboration and data sharing,” says Andreas Mrozek, global head marine and terminal operations for the Hamburg Sud Group, one of the world’s largest container shipping lines. “It starts with the customers and moves to the carriers, then the terminal operators, vendors, freight systems, truck companies, and keeps going down the line. Closer collaboration is a compelling value proposition for each supply chain partner.”

The study, entitled “Competitive Gain in the Ocean Supply Chain: Innovation That’s Driving Maritime Operational Transformation,” is based on a global survey of more than 200 executives and professionals from terminal operators, carriers, logistics providers, vessel owners, port authorities, shippers, consignees and other members of the global ocean supply chain. The study was developed in partnership with maritime industry technology leaders, Navis and XVELA.

Ninety percent of survey participants said real-time data access and information sharing was important to increasing the efficiency and performance of the shipping industry. Some 82 percent said the industry needs to improve supply chain visibility.

Other key findings include:

-Some 90 percent of shippers and consignees say there’s a need to improve visibility in the ocean supply chain.

-Eighty-five percent of shippers and consignees rate the industry as either “slow to change” (70 percent) or “far behind the curve” (15 percent) when it comes to innovation and next generation technology adoption.

-Twelve percent of respondents said their partners were “very effective” at collaborating and sharing data, although 38 percent said their partners were improving and 32 percent said they were “somewhat effective.”

Click here to download the study.

Source: Business Performance Innovation Network

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