Technical ReportPDF Available

Impact of Disruptive Technologies on Maritime Trade and Maritime Industry

Authors:
Jasmine Siu Lee Lam at Techincal University of Denmark
Jasmine Siu Lee Lam
  • Techincal University of Denmark
Puay-Guan Goh at National University of Singapore
Puay-Guan Goh
Shuyi Pu at Nanyang Technological University
Shuyi Pu
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Disruptive technologies are introducing new opportunities and threats to companies, government bodies, and economies. Understanding the impact of disruptive technologies is a priority for industry leaders and policymakers across all economic sectors as they embark on their own transformation journey. This report focuses on four disruptive technologies: 3D printing, blockchain, e-Commerce and battery technology. It aims to generate new insights by quantifying the impact of these technologies on maritime trade and maritime industry. How will 3D printing and e-Commerce change trade patterns and shipping? How much savings can be realized by adopting blockchain for maritime trade? What is the tipping point of electricity price to make battery systems competitive with diesel systems for vessels? These are sample questions answered in the report. Besides, recommendations are provided for both public and private sectors to capture the opportunities and unlock the potential savings provided by the four technologies.
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... Blockchain-related research in maritime logistics focuses on market implications and impacts of solutions, indicating the importance of the financial barrier to blockchain adoption (Wang et al., 2021). Carlan et al. (2020) and Lam et al. (2020) reported both positive (e.g., cutting cost, improving efficiency), neutral (e.g., labor skill shift), and negative (e.g., uncertain, technological immaturity, overhyped investments). The empirical studies of Yang (2019), Carlan et al. (2020), and the guideline of WEF (2020) indicated customs clearance and management, digitalizing and easing paperwork, and standardization and platform development as the key benefits for maritime shipping. ...
... The amalgamation/assembly of multiple elements results in a risk network (Ω), modeling risks as vertices (V) and connections between them as edges (E), Ω ≡ V ∪ E ≡ {x, y, ⋯, z, t} ∪ {〈x, y〉, ⋯, 〈z, t〉}. Focusing on information immutability and sharing security, blockchain applications' direct impacts on container shipping operations reside in the information flow (Carlan et al., 2020, Lam et al., 2020, Papathanasiou et al., 2020. Meanwhile, the role of information operations in informing, guiding, and updating the physical and payment operations are well-observed in maritime logistics cyber-physical systems (see Section 2.1). ...
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  • Jul 2022
  • TRANSPORT RES E-LOG
Blockchain applications in maritime logistics services face uncertainties and risks, obstructing a broader and more sustainable adoption. Although the operational risk of blockchain-integrated systems (BISs) is significant, studies in this area are still conceptual and scarce. This research is a mixed-methods risk analysis focusing on (1) modeling the risk situation by a connected network of potential disruptive events in container shipping BISs, and (2) applying a quantitative risk analysis with probabilistic indexes considering the multiplicity of multi-event risk scenarios (MESs). Thirty-two telephone interviews with experts from container terminal operators, shipping companies, and freight forwarders helped establish a risk network with the description of 25 vertices and 54 directed connections. The quantitative analysis of 64 web survey responses provided insights and foresight about different characteristics of each risk and causal connection. The results enable a comprehensive view of the potential failure modes of blockchain applications. This study is the first to explore the potential risk situation in container shipping BISs with inputs from the industry. The applied methodological framework expands the toolkit of risk researchers, analysts, and managers against the fast-paced development of digitalization in maritime logistics and supply chain operations.
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... Maritime transportation services with more capacity are in high demands globally to satisfy commercial needs over the international scale. However, the expansion of maritime transportation volume is often unproportionate to the requirement of the dynamic market conditions (Lam et al., 2020). Despite that, the growth in seaborne trade still persisted even during the COVID-19 pandemic period (Saliba et al., 2021). ...
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... These are just some of the signals that show why the maritime sector has great potential to develop, which means it will present numerous opportunities for entrepreneurs. Creative disruption in the maritime sector can introduce promising business opportunities, create new jobs, and transform traditional processes into more productive and sustainable activities (Stockfisch, 2015;MESA, 2016;Lam et al. 2020). ...
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Article
  • Jan 2023
People with entrepreneurial skills and mindset have a great role in stirring the economy and meeting financial, social, and humanitarian needs by taking risks, especially when there is uncertainty. It is vital to take every action to stimulate the entrepreneurial potential of society, to promote entrepreneurial culture, and to have more people with an entrepreneurial mindset and skills. One of these actions is giving entrepreneurial education, especially to the young. On the other hand, there are more chances in some sectors for entrepreneurs to be successful. Maritime is one of these, with its fast development, involvement of people from different backgrounds and cultures in all parts of the world, and multinational, multicultural, and multiregional character in terms of stakeholders. These points make entrepreneurial education in maritime schools an important issue. In this research, entrepreneurial education given in maritime universities, which are referred to as "Blue Universities," was looked into, its strong and weak sides were investigated, and recommendations for its development were given.
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Croatian coast guardʼs activities in the marine fisheries control
Conference Paper
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Article
Full-text available
  • Mar 2022
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Role of policy framework for disruptive technologies in the maritime domain
Article
  • Mar 2021
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Article
Full-text available
  • Oct 2018
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Conference Paper
Full-text available
  • Apr 2017
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Additive manufacturing (AM) technologies play a very significant role in making metallic/nonmetallic prototypes or products in layered fashion. The main goal of these technologies is to produce fully dense and net shaped metal/non-metal parts in single step. Some additive manufacturing technologies such as Selective Laser Sintering and Laser Engineered Net Shaping are dominating processes while Laminated Object Manufacturing has also been used. This paper tries to present a comparative picture of the different additive manufacturing technologies.
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Blockchain is an emerging decentralized architecture and distributed computing paradigm underlying Bitcoin and other cryptocurrencies, and has recently attracted intensive attention from governments, financial institutions, high-tech enterprises, and the capital markets. Blockchain's key advantages include decentralization, time-series data, collective maintenance, programmability and security, and thus is particularly suitable for constructing a programmable monetary system, financial system, and even the macroscopic societal system. In this paper, we proposed a basic model of the blockchain system, discussed the principles, technologies, methods and applications of blockchain and the related Bitcoin systems. We also discussed the smart contract and its applications, and presented the future trends of blockchain-enabled paralleled societies. This paper is aimed at providing helpful guidance and reference for future research efforts.
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Metal Additive Manufacturing: A Review
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This paper reviews the state-of-the-art of an important, rapidly emerging, manufacturing technology that is alternatively called additive manufacturing (AM), direct digital manufacturing, free form fabrication, or 3D printing, etc. A broad contextual overview of metallic AM is provided. AM has the potential to revolutionize the global parts manufacturing and logistics landscape. It enables distributed manufacturing and the productions of parts-on-demand while offering the potential to reduce cost, energy consumption, and carbon footprint. This paper explores the material science, processes, and business consideration associated with achieving these performance gains. It is concluded that a paradigm shift is required in order to fully exploit AM potential.
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Typology of e-commerce retail failures and recovery strategies
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  • Aug 2005
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Purpose The authors propose focusing on e‐commerce service failure and recovery through the presentation of failure and recovery strategies employed by e‐commerce service firms. Design/methodology/approach The authors employ the critical incident technique using 377 customer responses to present ten e‐tail failures and 11 e‐tail recovery strategies used by e‐commerce service firms. The authors also present data on post‐recovery satisfaction levels and propensity to switch behavior. Findings Findings indicate that: e‐tail customers experience different types of service failure relative to traditional retail settings; e‐tail firms employ a different series of recovery strategies relative to traditional retail settings; and post‐recovery switching by e‐tail customers can be high even with satisfying experiences. Originality/value This paper strengthens the existing failure and recovery literature by presenting data on the largest growing sector of the service industry. These findings will have value to traditional firms looking to expand to e‐commerce channels in addition to e‐commerce firms currently experiencing customer dissatisfaction.
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Handbook on battery energy storage system
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Asian Development Bank. (2018). Handbook on battery energy storage system.
How Safe Are Blockchains? It Depends
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  • HARVARD BUS REV
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Berke, A. (2017, March 7). How Safe Are Blockchains? It Depends. Harvard Business Review.
BNEF's 2019 Battery Price Survey
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BloombergNEF. (2019). BNEF's 2019 Battery Price Survey. Shanghai,China: Bloomberg.