How Technology Could Benefit the Global Shipping Industry
The shipping industry is currently responsible for 3% of global emissions - an amount that is an equivalent to the country of Germany.
As the world continues to commit to decarbonisation, the shipping industry risks falling behind if serious sustainability issues are not addressed. If not confronted soon, the impact of shipping will nearly quadruple to 11% of all global emissions by 2050. This would inevitably contribute to greater impact on the environment and the world’s oceans.
Whilst greener shipping strategies are needed throughout the industry, technology offers another solution. To confront these challenges, technology can be harnessed to avoid stranded assets, downtime and lost earnings. Likewise, innovative solutions could contribute to improving overall sustainability.
How technology is used in shipping
Addressing issues such as emissions and pollutants is paramount to the future of the shipping industry. In order to succeed, sustainability must be considered in tandem with protecting the world trade industry.
“Shipowners and operators should look to their suppliers for a clear attention to detail, a knowledge of the wider ecosystem and context in which a vessel operates, and for technology providers that have the time and resources to properly understand all of the technical idiosyncrasies of a given ship,” Cathy Stephenson, MD at Wärtsilä Water & Waste tells Ship Technology.
Digital technologies have a wide range of benefits for the maritime industry, including increased efficiency, reduced costs, enhanced safety and better sustainability. For instance, advanced analytics tools are able to process large quantities of data to optimise routes, improve fuel efficiency and predict maintenance requirements.
Those within the shipping sector are able to use data to determine more efficient routes, which helps them to reduce overall environmental impact.
Likewise, newer and disruptive technologies like the Internet of Things (IoT) enables real-time monitoring of cargo conditions and environmental factors. Sensors within containers can operate to track temperature and humidity, ensuring overall quality and waste reduction.
- Alternative fuels (LNG and hydrogen)
- Solar and wind power systems
- Ballast water treatment systems
- Hull designs that reduce drag
- Predictive maintenance
- AI algorithms that predict equipment failures
These approaches prevent expensive breakdowns, minimise downtime and extend the lifespan of both vessels and equipment. It can also help to improve overall communication in the shipping industry by using industry-specific software applications.
How technology can improve sustainability
Technology works to help shipping companies navigate complex international regulations more effectively. For instance, automated systems can help ensure that companies can comply with environmental regulations, safety standards and trade laws.
In particular, AI and the cloud are being positioned as forward-thinking for a broad range of key industries like shipping.
“We’ve seen significant growth in demand for the cloud as businesses continue to evaluate every part of their business, considering opportunities for transformation by technology, data and AI,” Maynard Williams, Managing Director, UK at Accenture, told us in 2023.
As the industry continues to evolve, embracing technological advancements is becoming more essential. Not only will it help ensure greater sustainability moving forward, but will also enable organisations to remain competitive whilst contributing to the wider global trade sector.
By building these assurances with technology, shipowners can prioritise sustainability and commercial success simultaneously. It can drive positive changes in the global shipping industry and improve environmental protections, safety enhancements and contribute further to economic growth.
More broadly, technology can help reduce waste through improved manufacturing and design. Smart technology is beneficial for businesses to reduce overall consumption of non-renewable resources by automating processes and monitoring other services.
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