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nected future, where we can look at a shipping industry that The rest of the world needs to follow suit to achieve decar- can meet the 2050 IMO targets for decarbonization” he said. bonization, he said.

It is not just a question of data speeds, but understanding the Shipping had remained too reactive to legislative change, value that can be extracted from connectivity, he added, but rather than proactive, Soncini added, with recent changes like discussions on creating a standard automated version for noon the Carbon Intensity Indicator (CII) imposed in ways that left reports are still ongoing. it unclear how decarbonization would result.

Schellenberger responded that greater integration of IT Economists had not woken up to the importance of shipping systems is also required. Most historical systems do not have in supply chains until the shock of the Covid pandemic, said open APIs to integrate them. It could take up to 20 emails to James Pomeroy at HSBC, but that had changed now.

order one spare part, he said. The last 12 months had seen a period of inventory rebuild-

Seafarers, who have their own phones and computers, step ing as demand fell back after the surge during the pandemic back technologically 20-30 years when they board a ship, and when supply chains were unable to respond. New demand training has not kept pace with changes coming to the equipment from Asia was likely to lead recovery even if China’s role and alternative fuels they will use in future, Schellenberger said. switched from production of goods to a buyer of them.

One in three seafarers looks for connectivity on board as Pomeroy said: “The outlook for now for the economy feed- more important than salary when looking at which owner or ing back into shipping isn’t great, but it will come back. We ship manager to work for, added Camporeale. are not forecasting recessions or a collapse in demand. You

Soncini said Japan is leading the race toward autonomous just need this inventory cycle to play through and you will shipping allowing fewer crew to operate vessels. “In the last get a natural pick up. It’s probably going to be a 2024 story”.

seven years the Japanese have congregated everyone – classi- However, he said in? ation was a factor with wage rises in ? cation societies, ship managers, owners and shipyards - and parts of the supply chain currently exceeding price increases, standardized everything.” such as a shortage of drivers for haulage.

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