In a survey conducted by Reed Smith in the first half of 2018, industry participants predicted that big data analytics will be one of the most significant drivers of change in the shipping industry over the next five years. In addition, for the same five-year period, the survey revealed that the shipping industry considers the development of automated processes and functions on board vessels to be the biggest driver of efficiency in shipping.

The collection, analysis and management of huge volumes of unstructured data (i.e., big data), such as data on voyage performance, ship structure, machinery, fuel consumption, traffic, cargo and the weather, are expected to provide valuable insights into the operation of ships, and uncover hidden patterns as well as market trends. The analysis of big data will also allow the prediction of likely outcomes in certain voyages. In addition, it is likely to reduce costs, as the industry will be able to identify more efficient ways of doing business; it will allow decisions to be made more quickly; and it will make shipping safer by reducing risks.
Continue Reading Big data analytics and autonomous vessels – when will legislation catch up?

How ready is the shipping industry for data and digital technologies?

We are conducting a short anonymous survey to discover whether the shipping industry is embracing the digital age. Through collecting responses from companies representing the industry across different sectors and geographies, we’ll be looking to analyse how prepared different segments of the market are for

On 12 September Reed Smith hosted a panel for London International Shipping Week to discuss ‘Tomorrow’s Maritime World, Today’. Representatives from a cross-section of the industry (ship managers, financiers, lawyers, insurance specialists and marine technical specialists) each brought their unique experience to the discussion, making for a lively debate on three pressing topics in the

We have had reports of an email scam being circulated amongst owners and charterers and, in particular, being sent to ships. These emails are being sent by scammers posing as law firms in order to distribute malware, including the latest ransom-ware.

QUOTE

Dear Sir,

We have been appointed to proceed with legal steps in arresting your vessel due to your inability to clear your long overdue payment with our client. Our client claims that several reminder has been sent to you on this subject matter without getting any response from you.

Find attached lawsuit filed by our client including Court and lawyer cost. Kindly review and revert with your comment. Meanwhile, vessel will be arrested by the court till further notice.

Your urgent response will be appreciated.

THKS N B’RGDS

UNQUOTEContinue Reading Cyber issues in shipping