Shipping is undergoing a transformative era fueled by calls for more aggressive decarbonization ambitions, more transparency and collaboration, and a growing need for industry players to digitalize. Two interns, Shaun Ong and Joanna Woo, working for Klaveness in Singapore as Sales Development Interns, are actively contributing to this transformation with their work for Market Manager by Klaveness and the Baumarine by MaruKlav pool.

Born of the so-called ‘Generation Z’ era, the interns play a crucial role in enhancing client outreach and customer success and we sat down and asked for their insights on collaboration, digitalization, and the changing landscape of maritime trade.

Unity equals progress

Woo, a student of operational analytics and business strategy, believes that in today’s capitalist economy, countries are exporting and importing cargoes based on their competitive advantages, which in turn increases the volatility and risks for the industry. Due to this, international affairs and politics are becoming increasingly more influential on shipping.

To navigate these waters and bear the degrees of risk that comes with it, Woo believes that it is crucial for industry players to engage in greater collaborations and partnerships to reduce the amounts of risk they must carry. Citing Baumarine as an example, she argues that such partnerships will see the industry become more progressive by enhancing safety and technology. Woo goes on to insist, “we would see players create a more cost-effective mode of transportation and maintain relevance in a time where decarbonization is becoming a hurdle that will determine the survival of many.”

Ong, a student of maritime studies, is driven by his desire to bring positive change to the shipping industry. He believes that collaboration and partnerships are essential for the shipping’s advancement and argues that in a world filled with uncertainty and volatility, the sharing of resources and technical know-how will enable companies to navigate challenging circumstances more effectively. He argues, “by streamlining operations and sharing data, the industry can navigate unfavorable circumstances better by either riding with bullish markets or hedging against bearish markets and furthermore, doing so would allow the industry to level up as a whole.”

Making shipping tech-savvy

Born in era revolutionized and defined by technology, both are excited to see digitalization take center stage in the industry and believe the impact of commercial technology on the industry will make for interesting careers.

Woo comments that as technology improves and data becomes more reliable and available, it is high time the industry moves away from the manual process of record keeping and performance tracking. Woo argues that instead, it is more important now to find ways to consolidate learnings from data and “make it easily interpretable and accessible to stakeholders so value-driven decisions can be made faster – especially in an industry where time is your most elusive resource.”

Ong recognizes that the shipping industry has been slower than others to embrace digitalization, however, he emphasizes its immense potential to revolutionize operations, communication, and cultural barriers. Nevertheless, he accepts it’s not always plain sailing in a world constantly moving forward with technology; “with the increasing prevalence of data, the challenge for shipping lies in effectively filtering and utilizing the vast amount of available information.” However, he is confident shipping will overcome the challenge and that looking to the future, Artificial Intelligence (AI) will soon play a pivotal role in transforming vessel and yard operations, making them more efficient and safer. He concludes that, “by integrating AI into shipping practices, the industry can thrive in a tech-savvy world, maximizing its potential and paving the way for a digitally empowered future.”

Looking ahead

From Singapore, Head of Dry Bulk Michael Jørgensen, adds: “As we look towards the future, collaboration between owners and operators, advanced technology, and data-driven decision-making will become the norm. But through their perspectives, Shaun and Joanna demonstrate the vital role that the Gen Z workforce plays in driving progress and bringing positive change to an industry that is essential for global trade.”

Woo and Ong will continue working with Klaveness in Singapore through to the end of July, before returning to their respective studies at Singapore Management University and Nanyang Technical University.

Facts corner

What is Market Manager by Klaveness?

A Software-as-a-Service (SaaS) platform crafted by Klaveness Chartering, incorporating extensive commercial expertise and backed by our best-in-class research team. The platform enables customers to drive new value and make better informed decisions to navigate shipping markets.

What is the Baumarine by MaruKlav?

A dry cargo Panamax pool serving owners globally through in-depth market and industry knowledge run by the joint managers Marubeni and Klaveness. Through close collaboration, scale and use of data and analytics, the pool provides a viable alternative to shipowners in a market where charterers often take the lead.