4rth industrial revolution and shipping


By Constantine Komodromos
May 27, 2016

How can the 4rth industrial revolution impact the shipping industry? I was recently studying the always very interesting viewpoints coming from Danmarks Skibskredit (Danish Ship Finance) - Ship Market Review and i seem to be in total alignment with what they are stating.

"NEW BUSINESS MODELS WILL HAVE TO BE DEVELOPED
outlines the first drawings of a new architecture for the shipping industry. Other industries have already seen new patterns of consumer behaviour that force companies to adapt the way they design, market and deliver products and services. A key trend is the development of technology-enabled platforms that combine both demand and supply to disrupt existing industry structures. Similar trends could easily find their way to the shipping industry. It could mean that entire new business models will have to be developed to serve the industry. To us, it seems clear that the fourth industrial revolution could redesign parts of the shipping industry within a decade or two."

This is exactly what we at VesselBot feel and believe that will happen in the near future in the shipping industry. It will be reshaped and changed radically in a way that we cannot even imagine today. The market characteristics, conditions, and demographics are changing and that will force current incumbents to change as well or risk being outdated. We can see lots of analogies of what happened when companies like Facebook, Uber etc entered their respective markets.

| Will we see the boiling frog effect materializing in the shipping industry as well?