This year is Mother Nature’s year. Aside from Covid-19, we were hit with floods, forest fires, protests, pestilence, numerous sustainability-related regulations (including IMO 2020), and political discourse that has led to a deep questioning of the moral values of the human race.
It has been a year of reflection for individuals and businesses alike. Border closures exposed gaps in the manual processes adopted by the industry. A disjointed approach to regulation in a borderless industry also presented many challenges when it came to crew change, and compliance with laws.
After a year like no other, TradeWinds asked 40 shipping industry stakeholders what they see for 2021 after a year beset by the coronavirus, and how the pandemic will shape shipping's future.
A newly found moral compass has, in my view, also increased focus on sustainability as a way of governing the impact our industry has on the environment, integrity of our supply chain in an increasing complex international trade environment, and crew wellness. No business was spared the disruption caused by the events of 2020 and, as a maritime lawyer, I was at the coal face of many issues these caused.
However, this has resulted in a flight to innovation and much-needed collaboration in the industry.
Covid-19, in particular, was the catalyst for digitalisation of, and collaboration in, the industry, as companies realised the power of problem-solving through collaboration in the crew-change and sustainability spaces. I see the increased interest in innovation through my work at The Captain’s Table, a platform connecting start-ups in the maritime space with corporate stakeholders — and the interest is just increasing.
I believe that as we head into 2021, we will see companies evolve their systems and processes in response to lessons learned from 2020. In the short term, I see continuing trends towards paperless trade, decarbonisation solutions (including more dialogue between owners and charterers to seek alignment on sustainability initiatives), increasing crew safety on board, and regulatory compliance solutions. In the longer term, alternative fuel solutions are key.
However, if we are to truly build a sustainable maritime industry, we need to attract talent. Here, I believe that the recent spotlight on innovation presents the industry with a real opportunity to rebrand itself as a sunrise industry. After all, there are no viable substitutes for ships, and with the commoditised nature of the industry, companies have no choice but to embrace innovation, or risk becoming obsolete. It is a great time for talented, ambitious young people, wanting to improve systems and processes and make a real impact, to join the industry.
