How the Maritime Industry is Sailing into the Future
The maritime industry’s seascape is rapidly changing and the path toward the future has become clearer as more and more stakeholders, key decision makers, industry leaders, and new startup companies call for innovative ideas and solutions when it comes to sailing the seas.
With the latest event, the 2022 SMM Fair in Hamburg, Germany, happening in early September, the direction in which the industry is headed was apparent. Here are some key things to note about where the maritime industry is going as it transitions into the future.
1. Sailing the blue seas with greener ships and an environmentally friendly mission
Countries and independent organizations are clamoring for sustainable and greener options in conducting business across different industries, and the shipping industry is beginning to feel that pressure on it. Shipping companies are now required to transition to greener, more environmentally-friendly fuel sources and provide evidence that they are actively trying to decrease their carbon footprint.
As early as now, investing in programs, services, and hardware will give any maritime company a headstart, especially since stricter regulations will be implemented by 2050 or sooner. Company leaders can look into innovative streamlined hulls, efficient propeller designs, and software that can create better voyage plans in order to transition into the greener movement in the maritime industry.
2. Providing career progression and a connected work-life onboard for seafarers
While many companies have grown accustomed to having seafarers onboard on a contractual basis, the maritime industry's hiring and professional development landscape are also changing as more seafarers ask for job security and progression, better workplace conditions, and more.
Seafarers are learning that life onboard a ship is not smooth sailing; some struggle with interacting with others from different cultures, while some do not deal with the distance and time away from family and friends as well as others. Of course, these downsides are always weighed against perks like compensation, job security, or training offered in order to help promote them to the next rank.
This change is not just one-sided, however, since shipping companies can expect to save more by reducing turnover and AWOL rates, decreasing hiring costs, and improving the quality of the crew as they become more tenured and familiar not only with the vessel but also with fellow crew members.
3. Integrated, collaborative, and specialized digital solutions and services
A key insight that our CEO learned from the 2022 SMM Fair in Hamburg is that providers are offering highly integrated and collaborative digital solutions for shipping companies. To take it a step further, most companies are choosing to specialize in a certain aspect of the industry, providing higher quality services and platforms.
Instead of looking for a provider that does it all, taking away dedicated resources in refining a product or service, choose providers that are experts in their respective verticals and offer horizontal integration with other providers.
For example, the team behind Kadmos are experts in offering payroll and e-wallet services for shipcos and seafarers, providing a quality experience on seamless digitization of a tedious financial process for crew managers. Meanwhile, Marine Traffic provides real-time ship tracking intelligence and aggregates data to provide quality analytics on sailing the seas. At Seafair, we offer an end-to-end manning platform that allows crew managers to hire vetted seafarers and manage a vessel’s crew using artificial intelligence and robust data while enabling horizontal integration with industry partners.
It’s always about making sure that each provider is great at what they do, offers integration and collaboration, and
These are just three ways the industry is foreseen to change in the coming years to decades. That being said, every shipping company owner, key decision maker, or crew manager should ask: "Is our company ahead of the changes?"
Stumped as to how to start digital transformation for a shipping company?
Look no further because Seafair offers a manning platform that provides end-to-end digital solutions for manning and crew management. Find, connect, and hire top-quality vetted seafarers on our platform and seamlessly manage a vessel’s crew via our easy-to-use and customizable crew management software.
Schedule a free demo and get a 14-day trial today!