IMO2020 is getting closer and the currently discussed approaches to meet IMO2020 requirements will generate additional pressure to the industry and thus put many shipping and commodity trading companies in a challenging situation. But how can digitalization help to meet and manage the IMO2020 regulations? Digitalization is a core strategic initiative for many companies, but rarely explored when the topic IMO2020 is discussed. However, digitalization can help to address IMO2020 impacts in many ways. With IMO2020 bunker procurement processes will become more complex, additional operational costs will be generated, a sophisticated bunker plan will be even more essential and hedging of bunkers will become more competitive, thus impacting the overall voyage P/L – just to mention some of the raising challenges waiting around the corner. Thus, IMO2020 will require companies involved in the shipping and commodity trading industry to rethink the way they’re doing businesses today and at the same time this new regulation might also create new opportunities to outpace competition, if the cards are played wisely. But how can digitalization help to tackle those challenges in a more efficient way and to grasp the opportunity? Singular Point’s MARiS platform, offers shipping and commodity trading companies a wide range… continue reading
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Source: CTRM Center