3. SPECIAL FEATURE: FIVE TRENDS TO SHAPE THE SHIPPING INDUSTRY
IHS recently released this intriguing, upbeat report. IHS Identifies Top Five Trends in 2016 That Will Shape the Global Maritime Industry for the Coming Decade. First up, no surprises, China slowdown and depressed commodity prices, then the lifting of sanctions on Iran. Here’s where it gets interesting – “Big Data – Less Drama” (new technology to provide better forecasts, better tracking and widespread adoption of analytics).
“As forecasts become more accurate, shippers can run more productively, such as choosing ideal routes, operate efficiently by choosing best-price fuels, or become more competitive. For maritime investors, big data reduces risk exposure and extends visibility into business operations, encouraging further investment.
Big data won’t end the industry’s cyclical nature or remove all the uncertainty that comes with geopolitical forces …. But it will allow players to look with more confidence into future events and act proactively.
Andrew Scorer, principal trade analyst at IHS Maritime & Trade
Last up is demographic change – a growing and more affluent middle class in emerging economies: not just in increasing import demand. Larger middle classes place more emphasis on efficiency, innovation, and have a more globalized outlook.
OUR TAKE A tonic for the (following) Carriers & Cargo section. We are also impressed by the report’s approach.
“Shipping is a servant of trade, and trade is driven by consumer behaviour, so understanding how economies develop, evolve and plan for change brings valuable insight of what the maritime sector will look like over the coming decade. This insight is much more instructive than studying changes in ships and related systems.
Richard Clayton, chief analyst of IHS Maritime & Trade