Smart shipping - a catalyst to emerging blue economy.

Byline: Urooj Aijaz

A nationwide campaign of Bahria University to promote country's blue economy Recognition of the blue economy and smart shipping concept in developing economies has meant that countries are now strengthening on how to increase port capacity and efficiency ahead of their competitors. As we all are aware that blue economy create blue job opportunities in different areas like shipping, insurance, seafaring, port operations, financial services, vessel registration, ship building and ship breaking, ship repair and shore based auxiliary support etc.

Therefore the stakeholders are now investing in infrastructure development and implementation of friendly maritime policies along with latest technology and digitalization of ships and ports through ICT (Information and Communication Technology) tools to enable full automation of port operations to achieve blue economy sustainability through smart shipping services, which is only possible through smart ports features as depicted in the model below:

Maritime transport and ports are the backbone of today's world globalized economy as the cheapest mode for bulk transportation with over 90% by volume and 70% by value of global trade. According to World Bank statistics 2017 volume of seaborne trade will double by 2030 and quadruple by 2050. The report also discloses that shipping provides the principal mode of transport for the supply of raw materials, consumer goods, essential food stuffs and energy globally. It is therefore, a prime facilitator of global trade and contributor of economic growth and employment both at sea and ashore.

Smart shipping as a key element of advanced global economies is a fast growing concept. Therefore, maritime transport and associated developments in maritime technologies need focused attention by developing maritime nations such as Pakistan. The 2030 Agenda for Sustainable Development highlights the role of seaborne trade as an engine for inclusive and sustainable growth and development, which is only possible through smart ports and shipping, which can unlock or undermine our economic potential. Today, ports are enhancing the efficiency with the overall goal of transforming into transhipment hubs which raise port earnings, attract frequent feeder services, create opportunities for coastal shipping, mining of marine minerals and other economic activities that's why both Eastern and Western Economies are investing heavily in promotion of framework of blue...