Carrier consolidation, mergers, and acquisitions have changed the face of our industry. While this has helped stabilize and strengthen service networks, these times of change require an agile and flexible way of doing business.
Collaboration, information sharing, and transparency are some of the key areas that, as an industry, we must do more of to deliver a better service for our customers. With more collaboration between terminals, container lines, warehousing and distribution providers, shippers can benefit from a better end-to-end service by reducing operating costs, and making significant short-term savings for long-term competitiveness.
Digital also plays a key role in the future of our industry. With the speed of technology advancements today, shipping companies that embrace and deliver digital innovation to transform information sharing and increase transparency are the ones that will thrive. One of the ways Maersk Line is doing this is by launching products such as Remote Container Management (RCM) that ensures all of its 270,000 refrigerated containers are connected via satellite so any changes in internal conditions can be fixed immediately, rather than waiting until a container reaches a port.
As we look across the world, there is room for cautious optimism for next year. Citing an upswing across nearly all of the world’s major economies, the International Monetary Fund in the last quarter raised its global economic outlook for 2018. And with Canada now beginning to take the stage as a growing trading partner, we are prepared to offer even more opportunities in the region.
In the end, a healthy, sustainable shipping industry should be our common goal to the benefit of our customers. As the hidden industry that moves global trade, we must continue to work together to deliver to our customers while finding new ways to improve the end-to-end experience through digital innovation.