What’s next for the world of ocean freight and international logistics?
If you’re in the industry, staying on top of the latest developments is key to staying ahead.
Let Trent Morris guide you through the shifting tides of global logistics and ocean transport.
Make sure to watch the full video below for all the insights!
Exploring Future Trends in Ocean Freight
Trent shares insights from his recent attendance at the TransPacific Maritime conference in Long Beach, CA, where top industry and government leaders gathered. The event provided insights into key logistics trends and projected timelines.
Technology and Carbon Neutrality
The shipping industry’s primary focus is on reaching carbon neutrality by 2050, as mandated by the International Maritime Organization (IMO). Several shipping companies aim to be halfway there by 2030. This shift focuses on replacing “bunker” fuel, a high-pollutant option, with alternatives like ammonia-based fuel, synthetic LNG, hydrogen, and even nuclear.
Nuclear Power as a Zero-Carbon Option
Nuclear power is being explored as a zero-carbon alternative for shipping. The large sizes of container vessels make nuclear feasible, though it introduces waste management considerations. Given Australia’s recent procurement of nuclear submarines, nuclear-powered commercial vessels may be viable.
Automation in Port Infrastructure
Port infrastructure needs upgrades for better efficiency. Automation is gaining traction, with Autonomous Guided Vehicles (AGVs) beginning to operate in ports. However, complete automation faces challenges, especially with massive vessels that require balance adjustments during unloading.
Financial Backing and Consumer Influence
With full bank accounts after decades of growth, companies like Maersk and ONE Group are ready to invest in green fuel technologies. The IMO also pressures companies to retire vessels built before 2009, contributing to environmental improvements. Consumer expectations for environmentally responsible shipping are further influencing these changes.
Driven by regulatory and consumer pressures, the logistics industry is set for significant changes over the next decade, with new technologies and infrastructure shaping a greener, more efficient future.
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“.