Do you ever wonder where international logistics and ocean freight are headed next?
If you work in this fast-paced field, staying informed about trends and shifts is critical to keeping a competitive edge.
Let Trent Morris update you through the latest transformations happening across ocean freight and logistics.
Get ready to chart a new course and stay ahead of the curve. Be sure to watch the full video below for all the details!
Trent shares insights from his recent attendance at the TransPacific Maritime Conference in Long Beach, CA. The event gathered industry leaders, government officials, and key players from international logistics and shipping sectors to discuss trends, especially the future of shipping and carbon neutrality.
Future of Shipping: Carbon-Neutral Goals
The International Maritime Organisation (IMO) has set a goal for all shipping lines to reach zero carbon emissions by 2050. Some shipping companies aim to achieve partial carbon neutrality by 2030. A variety of fuels are under consideration, including ammonia, synthesised LNG, hydrogen, and even nuclear energy, each with unique environmental impacts and logistical challenges.
Modernizing Port and Ship Infrastructure
Technological advancements aren’t just limited to shipping vessels. Ports are also exploring automation and infrastructure improvements to handle containers efficiently, easing bottlenecks that often slow down supply chains. Automated Guided Vehicles (AGVs) and other automation tools are emerging in an attempt to streamline loading and unloading processes at ports.
Potential Legislative Changes
Government interest in regulating the industry is growing, especially around longstanding practices like the bill of lading, which traditionally favours shipping lines. Upcoming legislative shifts could balance these terms and conditions to better protect customers and governments’ interests.
Evolving Consumer Expectations
As the cost of carbon-neutral shipping rises, consumer expectations and pricing will be impacted. Governments may also need to invest in supporting infrastructure, such as rail networks, to reduce reliance on trucks for port operations.
In summary, Trent suggests we’re on the verge of a decade of innovation, with shipping companies pushing toward carbon neutrality, expanding port infrastructure, and preparing for possible new regulations—all driven by consumer demands and environmental needs.
Related articles on this topic have appeared throughout our website, check them out:
- The Challenge of Freight Container Utilisation and Why it Matters
- Container Freight Costs and Forecasting: Intrinsically Linked & Frustratingly Challenging
- Do You Know When it’s Time for a Freight Review?
Editor’s Note: The content of this post was originally published on Logistics Bureau’s website dated May 31, 2023, under the title “Ocean Freight Future Trends with Trent Morris“.
