Digitalize or sink
Cybersecurity and the maritime industry: KPMG and KONGSBERG have joined forces to help the maritime industry harness the business potential of digitalization and address the emerging cyber threats.
Digitalization will be crucial for ship owners to manage post-Covid recovery
The year 2020 has turned out to be very different from what anyone had forecasted. Covid-19 caught the world by surprise and left no life around the world unimpacted.
National lockdowns have forced societies to fast-forward their digitalization efforts, enabling what was never thought possible: at the time of writing this publication, we are working and studying remotely, we connect virtually with friends and family, and our businesses and administrations have adopted digital ways to keep essential services running.
The shipping sector was one of the first industries to feel the devastating impact of Covid-19, when the Chinese lockdown in February brought major trade lanes to a halt. Ever since, global trade volumes have been dramatically reduced. Being a slow-moving industry, which is still heavily dependent on paper-based processes and with a low grade of digitalization, shipping was put into a very difficult position to tackle the crisis effectively.
However, probably due to this limited degree of digital preparedness, the pandemic actually has “turbocharged maritime digital development by half a decade” as DNV GL observed recently. While this is a great – and some might say overdue – first step, we must be aware that the steps taken to digitalize the maritime industry within the last months are still not enough. During a webinar of the Maritime and Port Authority of Singapore in July, IMO Secretary-General Kitack Lim stated that digitalization will be key for shipping in order to tackle the pandemic effectively.
So what makes digitalization such an essential element for maritime post-Covid recovery?
1. Maximizing cost savings to weather the industry storm.
2. Building resilience to keep your operations running.
3. Digitalization pressure from the rest of the supply chain.
Combining leading positions
KPMG and KONGSBERG can help you navigate safely through these challenges, enabling you and your company to reap the full rewards of connecting your vessels to the cloud and turn data into value.