With over 90 per cent of world trade carried by sea, shipping sentiment is continuously influenced by other stakeholders in the global supply chain, including regulators. Today, over-capacity in the container market, slower growth in demand for raw materials, soft tanker rates and idle offshore tonnage co-exist with market positives that include new northerly sea routes, the rise of liquefied natural gas and demand for cruise tourism.

Nevertheless, the consequences of the global financial crisis of 2008, the oil price slump from 2014 and tightening environmental regulations continue to frame the maritime narrative, with owners under pressure to cut costs and emissions but enhance safety.

WHAT IS THE MARITIME SECTOR’S OVERALL IIOT READINESS? (%)

Laggards
Starters
Progressives
Leaders

WHAT IS THE MARITIME SECTOR’S OVERALL IIOT READINESS? (%)

Laggards
Starters
Progressives
Leaders
74%

are planning to adopt fuel consumption monitoring within 12 months

Turning tides

Specific attention will be paid to ‘gateway’ IIoT-based solutions which simultaneously meet regulatory and cost efficiency requirements. As further International Maritime Organization rules loom limiting emissions from ships, ushering in an era of new more expensive fuels, IIoT-connected shipboard sensors provide a ready answer to monitor, report and verify fuel use, for example. Today, 65 per cent of ship owners have or are trialling IIoT-based fuel consumption monitoring, with 9 per cent more to do so within 12 months.

It is important not to overplay the ‘compliance’ card, given that around half of the maritime respondents in the current study say they either do not aim at or do not expect greater compliance as an outcome of adopting IIoT solutions. However, owners today inhabit a maritime world where the class societies enforcing safety standards are trialling drones to support ship inspections, where shipboard CCTV monitoring brings clear benefits for the safety and security of crew and cargoes alike, and where the digital platforms used for weather forecasting and distress alerts are joining IIoT.

The route to competitive advantage

Nevertheless, full-blooded maritime commitment to IIoT-based solutions will also be driven by the competitive edge established by the ‘IIoT leaders’, identified here as representing a larger than anticipated segment of respondents. While shipping has more than its fair share of IIoT ‘laggards’, a significant portion of respondents overall can be seen as recognising the digital opportunities offered to cut costs.

As the data in our research indicates, key areas for IIoT-based solution deployment have been identified for the coming months and years. What is also clear is, not only that some maritime companies are not responding to the increasing digitalisation, but that industry strategists and managers have plenty of work to do to prepare procedures, skillsets and security to take best advantage of the opportunities on offer.

FOR MORE INFORMATION ON THE RESEARCH, DOWNLOAD THE REPORT – INDUSTRIAL IOT ON LAND AND AT SEA: MARITIME

RESEARCH DEMOGRAPHICS

The maritime findings in this research project are based on responses from 125 senior IIoT decision-makers from businesses in the maritime sector.  We focused our survey on the two key elements of the maritime industry, shipping and fishing, to ensure that we generated a comprehensive view of how IIoT is being used in the sector. The businesses surveyed operate a range of fleet sizes, from smaller fleets of between 1-10 vessels, to much larger fleets of 50+.

Respondents were drawn from different regions and countries around the world, with Germany, Japan and Greece contributing more respondents than any other country, enabling us to identify key differences in IIoT adoption between these territories.

 

 

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