According to BIMCO general manager, Singapore, human element will be a key factor in constraining how the industry does business in the future, says an article published in their website.
Business not as usual
It is not going to be business-as-usual for the maritime sector, especially when I look across Singapore and beyond to the rest of SouthEast Asia, says BIMCO general manager, Singapore.
Opportunities and disruptions
Opportunities and disruptions created by increased connectivity, digitalisation and, not least, new regulations, will reshape the industry.
Problems with traditional approach
Companies in this region with a traditional approach and business models will face disruption because of new maritime platforms, emerging technologies and digitalisation, and tighter environmental regulations will have an impact on the costs as well as operations.
What is the challenge?
The challenge is how can we cope with the uncertainty, while remaining adaptable and competitive?
Singapore towards traditional approach
BIMCO members and other shipping companies in Singapore, supported by Maritime Port Authority of Singapore (MPA), are clearly responding with high levels of activity and traditional approach to ensure the city remains a shipping hub for the coming decades.
Human element the key factor
Looking more widely, the human element will be a key factor in constraining how the industry does business in the future.
Because of the magnitude of the growth and changes in the maritime industry, BIMCO says we must secure and develop talent to convert these challenges into opportunities.
Transformation from technologies
Digitalisation and emerging technologies will transform existing maritime jobs, so attracting new talent with new skills and helping the existing staff to up-skill is paramount if we are to build a successful maritime workforce.
Tech roles created
New tech roles are being created and companies will need to differentiate themselves to attract the best and assemble the new generation in shipping.
Maritime Cluster Fund
MPA has established the Maritime Cluster Fund, a manpower development programme, to co-fund training for more than 5,000 individuals each year and Earnand-Learn Programmes to provide on-the-job training across our various shore-based and seafaring jobs.
I think other countries in the region should follow their lead.
Training activities from BIMCO
BIMCO will continue to be vocal in the shipping community in South East Asia. We will carry on our training activities and represent our members’ interests on regulation and technology standards.
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Source: BIMCO
