Players in most shipping subsectors have enjoyed a profitable couple of years. However, the industry faces a complex, rapidly changing environment. Macro uncertainties—the threat of recession, geopolitical volatility, crew shortages, escalation of operational costs, and fluctuations in cargo demand—affect all aspects of operations. In addition, there is increased environmental regulation to get to grips with, and much uncertainty around decarbonization pathways.
Crucially, the shipping industry lags behind in digitization, a key enabler for prompt decision making, operational and cost efficiencies, and improved performance. This article introduces a transformation framework to help shipping companies navigate these choppy…