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Overview

Title: Lloyd's List Hong Kong Innovation Forum 2019
Date: Wednesday 20 November 2019
Venue: Hong Kong Maritime Museum
Room:
Special Exhibitions and Events Gallery


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Summary

One of shipping’s most pressing bottom-line battles – regulatory compliance – is being waged by an army of innovators.

Meeting the 2020 sulphur cap mandate, for example, requires sound management but, ultimately, it will be innovators that lead the charge towards the 2050 decarbonisation target for which the IMO’s mandate is just a stepping stone.

Fuel technology, from LNG to hydrogen, will require R&D budgets to meet an ambitious generational goal, but innovation will focus less on the vessel and more on the efficiency of an increasingly integrated global supply chain. For some, it is about technology (digital ships, AI, autonomy). For others, digitalisation offers a new way of engaging with customers (trading platforms, blockchain, trade finance security). For others, it represents an entirely new way of doing business (digital operation, ship-as-a-service, value beyond the vessel).

Much of the innovation already underway is not so much a single device or tool, but new ways of processing information and/or activities.

While data offers many opportunities, it is already revealing vulnerabilities in existing systems (cyber risk and the inherent fragmentation of data in seaborne supply chains). Ensuring each new system is interoperable with both existing and new models requires collaboration along the whole chain and a level of data governance that has so far proven unattainable.

The Lloyd’s List Innovation Forum, sponsored by the Hong Kong Maritime and Port Board during HK Maritime Week, will bring together frontline innovators already collaborating on projects in shipping and trailblazers outside maritime who are pursuing more efficient ways of connecting the supply chain.