SUSTAINABLE COLLABORATIONS IN THE OCEAN DETERMINE WHETHER YOU SINK OR SWIM
FROM THE MINUTES 2018
Shipping today is an analog, paper-based industry. Experts estimate that trade documentation to process and administer the shipping goods represents up to 20% of the actual physical transportation cost. The creation of a channel of information accessible to all actors already working with one another would enable them to establish a single shared view of the international supply chain. This effort to establish an open digital platform is an attempt to automate paperwork filings and implement tracking for each container.
A global trade digitization platform would allow the exchange of shipment events in real-time and ensure all required documentation is submitted and easily accessible. This would bring significant cost savings by reducing mistakes and approval wait-time. By reducing barriers within the international supply chain with a secured and confidential platform, global trade could increase by nearly 15%, boosting the economy and creating jobs.
AN OCEAN OF DATA
Collaboration has to be at the heart of any ocean initiative. The biggest obstacle remains the companies that see their data as a competitive advantage, believes Mark. Some players collect data that isn’t even relevant to them and then throw it away, whereas it would be helpful to others. Companies that learned to collaborate together learned to compete really well too, he noticed.
"As experts, we can't lead effectively if we rely only on what we know. We have to look at the desired impact by starting with the system mindset of the future we want." - Robert Orr from Cuna del Mar, A Movin'On participant
ROADBLOCKS ON THE WATER
Canada has an ocean advantage, but our ocean economy only contributes to 1% of the GDP. The sector isn’t attractive partly because there are many barriers to innovation due to the risk, complexity and cost of operations in the industry. It’s so hard to know what’s going to happen in the ocean — you always have to be ready for the worst-case scenario.
LET’S CONNECT THE SUPPLY CHAIN
Maersk and IBM will jointly develop a software platform to enable companies to move goods across international borders with greater transparency and simplicity. Based on blockchain, the new technology will empower faster, more efficient and secure global trade to all participants, including manufacturers, ocean carriers, freight forwarders, ports, terminal operators, shippers and customs authorities.
THE OCEAN BY THE NUMBERS
→ 80% of the goods consumers use daily are carried by the ocean shipping industry
→ 97% of goods are transported on the ocean at some point, according to an OECD report
→ More than $4 trillion in goods are shipped each year
→ Maritime transport is responsible for about 2.5% of global greenhouse-gas emissions
→ Shipping emissions are predicted to increase between 50% and 250% by 2050 - depending on future economic and energy developments