Maritime & Offshore

Watch this film with our take on these dilemmas.

An aging fleet and the need to reduce greenhouse gas emissions requires investment in new ships. Uncertainty among shipowners about future technological developments, the most cost-effective fuels, available infrastructure, as well as changing regulations and carbon prices, is delaying these investments.

In the near future, the deciding factor for shippers in electing a type of ship will no longer be freight rates, but rather environmental criteria. This makes it even more urgent for shipowners to invest in clean ships.

New technologies are being adopted throughout the maritime sector and digital systems are also being implemented. This is necessary for a more efficient maritime sector. Due to the many applications and interconnections, there is a high exposure to cyber crime risks which makes the sector vulnerable to cyber criminals. It is important to invest in "smart digitization strategies." The somewhat cautious approach of the maritime industry to these risks originates from the fact that this has generally not yet been given a high priority.

In recent years, the maritime industry has faced additional logistical challenges, with the increase in demand for tonnage far outstripping supply, resulting in rising rates and declining operational reliability. Coping with such disruptions requires a high degree of supply chain flexibility. Requiring therefore, in this polarizing world, stronger cooperation between industry, ports, governments and other stakeholders to keep critical infrastructure open and to allow free movement of goods, capital and labor.

There is an increasing shortage of personnel and crew. The impact of the manning crisis caused by COVID-19, the reduction of crew from Russia and Ukraine are reinforcing this shortage. At the same time, there is a decline in willingness. Why still choose a job at sea, with its associated pros and cons and uncertainties, when there is plenty of challenging work on land. For maritime employers, it is important to create a safe and pleasant working environment, where diversity, equality and inclusion are important aspects of attracting young talent and retaining seafarers.

The offshore sector is increasingly developing renewable energy generation services. The energy crisis has created awareness about energy security. What will the next step look like to achieve an affordable and sustainable energy supply and what role does the offshore sector play in this?

All of the above developments require investment. Access to capital is increasingly dictated by the "greenness" and sustainability of investments.