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Prize-winning paper for the 2017 Bureau Internationale des Containers (BIC) essay contest.
In the current scenario of market volatility and globalization, the shipping industry is under immense pressure in terms of growth, revenue expansion, trading condition and cost optimization. From the advent of steam powered vessels to the current fiasco of autonomous vessel, the industry has evolved albeit slowly to a data focused industry. The wave of data collection, sharing and utilization to optimize operations via automation is the next phase of industry revolution, Industry 4.0. The convergence of real and virtual worlds as a result of digitalization has been a crucial driver of change and innovation in the shipping sector. Data has been elemental in developing sustainable mobility and logistics helping companies like Maersk, securing a competitive position. The Age of industry 4.0, which is based on platformbased cooperation between liners, ports and logistic service providers and innovation based strategy incorporating weather and traffic data to optimize operation exposes companies to many challenges.
World Maritime University
Cyber security, shipping