Is accessible data the hot button shipping needs to self-disrupt?  

DATA is being “democratised” in the maritime sector, with greater transparency and sharing of key facts and figures. This is significant because it means that the industry is on the cusp of radical self-disruption, and Singapore is at the heart of the revolution. If the industry can get this right, it can leap forward in its journey to a greener, safer, fairer maritime community.

The sector has historically been a “dark” one. Data was siloed, and seldom shared; vessel owners would have their operational data, while ports and terminals would have theirs, and regulators and policymakers would have to make their decisions with little information at hand. This was partly a business culture that prized competitive advantage over collaboration, but it was also due to a lack of appropriate channels and methods of effective data-sharing.

However, there are signs this is changing, with Singapore at the forefront. In 2021, the government committed to S$80 million of funding to the Singapore Maritime Institute (SMI). The funding has been used to launch a series of collaborative research and development initiatives, including the Maritime AI R&D Programme, which aims to address the gaps and opportunities created by greater automation in the sector. If the sector can harness this collaborative approach effectively, the opportunities are enormous.