Sustainable blockchain technology in the maritime shipping industry

2020 ◽  
pp. 207-228
Author(s):  
Christopher Clott ◽  
Bruce Hartman ◽  
Benson Beidler
Keyword(s):  
Shipping Industry ◽  
Blockchain Technology ◽  
Maritime Shipping

scholarly journals Blockchain-based applications in shipping and port management: a literature review towards defining key conceptual frameworks

2020 ◽  
Vol 30 (2) ◽  
pp. 201-224 ◽  
Author(s):  
Sergey Tsiulin ◽  
Kristian Hegner Reinau ◽  
Olli-Pekka Hilmola ◽  
Nikolay Goryaev ◽  
Ahmed Karam
Keyword(s):  
Supply Chain ◽  
Grey Literature ◽  
Workflow Management ◽  
Theoretical Background ◽  
Shipping Industry ◽  
Content Type ◽  
Port Management ◽  
The Past ◽  
Blockchain Technology ◽  
Maritime Shipping

Purpose The purpose of this paper is to examine and to categorize the tendencies of blockchain-based applications in the shipping industry and supply chain as well as the interrelations between them, including possible correlation of found categories with theoretical background and existing concepts. This study also explores whether blockchain can be adopted into existing maritime shipping and port document workflow management. Design/methodology/approach The current study builds a conceptual framework through a systematic project review carried along with scientific and grey literature, published in journals and conference proceedings during the past decade and giving information or proposals on an issue. Findings The results showed that reviewed projects can be compiled into three main conceptual areas: document workflow management, financial processes and device connectivity. However, having clear interlinkages, none of the reviewed projects consider all three areas at once. Concepts associated with maritime document workflow received broad support among the reviewed projects. In addition, reviewed projects unintentionally follow the similar goals that were laid down within port management scientific projects before the introduction of blockchain technology. Originality/value This study contributes to research by revealing a consistent framework for understanding the blockchain applications within maritime port environment, a less-studied part of blockchain implementation in the supply chain field. Moreover, this work is the first to find out conceptual intersections and correlations between existing projects, mapping current tendencies and potentially increasing knowledge about the field.

scholarly journals Need for Legal Regulation of Blockchain and Smart Contracts in the Shipping Industry

2020 ◽  
Vol 9 (2) ◽  
Author(s):  
Marko Perkušić ◽  
Šime Jozipović ◽  
Damir Piplica
Keyword(s):  
Complex System ◽  
Human Factor ◽  
Legal Regulation ◽  
Smart Contracts ◽  
Shipping Industry ◽  
The European Union ◽  
Existing Problems ◽  
Blockchain Technology ◽  
Potential Impact ◽  
Insight Into

The paper analyzes the potential impact of blockchain technology and smart contracts on the shipping industry. As the shipping industry represents a complex system of various actions that have to be controlled and registered, blockchain technology could serve as a tool to allow the streamlining of numerous processes, whilst at the same time taking the human factor out of multiple elements where trust between involved parties is an issue. The authors therefore first present how blockchain technology works and what smart contracts are, in order to give an  insight into their applicability in the shipping sector. After a general overview of the technological and legal characteristics of blockchain technology and smart contracts, the authors present examples of relevant subjects, relations, and contracts in the shipping industry. Based on the charter party, a key contract in the shipping industry, the authors present the existing problems which could potentially be solved using blockchain technology. Besides the benefits of blockchain technologies, the authors furthermore point out the existing deficiencies that still make blockchain technology hard to apply in legal relations within the shipping industry. Based on these insights, the authors highlight the current developments in this area and present the existing and expected regulatory reforms of blockchain solutions and smart contracts within the European Union.

scholarly journals ‘‘Blocks of Lading"

2019 ◽  
Vol 18 (2) ◽  
pp. 306
Author(s):  
Jake Michael Herd
Keyword(s):  
New Technology ◽  
Shipping Industry ◽  
Commercial Practice ◽  
Bill Of Lading ◽  
Distributed Ledger ◽  
Distributed Ledger Technology ◽  
Maritime Shipping ◽  
Industry Practice ◽  
Model Law ◽  
The Right

The bill of lading has, for centuries, been an integral component in the maritime shipping industry. However, the stagnation in the development of this legal instrument is contrasted with the exponential rate of development in other areas of commercial practice, which highlights the financial costs and delays associated with the use of bills of lading. The purpose of this paper is to present a modern alternative to the current paper-based bill of lading system that accounts for the practical and legal requirements of the incumbent instrument and also overcomes the deficiencies inherent in paper-based bills of lading. In the context of the regulatory uncertainty of bills of lading based on distributed ledger technology, this paper discusses approaches to regulating this new technology so as to achieve the same legal effects that the traditional, paper-based bill of lading provides. This paper presents two methods for regulating distributed ledger technology when applied to maritime shipping: the first is based on the principle of functional equivalence, which can be employed in domestic legislation, and the second is based on the Model Law on Electronic Transferable Records. I conclude that, while both approaches represent steps in the right direction, the latter would imbue this technology with sufficient legal certainty so as to spark a marine cargo carriage revolution and facilitate a productive disruption of the current industry practice. 

scholarly journals Comparative analysis of blockchain technology to support digital transformation in ports and shipping

2021 ◽  
Vol 31 (1) ◽  
pp. 55-69
Author(s):  
Dimah H. Alahmadi ◽  
Fatmah Abdulrahman Baothman ◽  
Mona M. Alrajhi ◽  
Fatimah S. Alshahrani ◽  
Hawazin Z. Albalawi
Keyword(s):  
Comparative Analysis ◽  
Supply Chains ◽  
Review Article ◽  
Digital Transformation ◽  
Shipping Industry ◽  
Blockchain Technology ◽  
Secure Environment ◽  
Sophisticated Technology

Abstract Blockchain is one of the technologies that can support digital transformation in industries in many aspects. This sophisticated technology can provide a decentralized, transparent, and secure environment for organizations and businesses. This review article discusses the adoption of blockchain in the ports and shipping industry to support digital transformation. It also explores the integration of this technology into the current ports and shipping ecosystem. Besides, the study highlighted the situation of the supply chains management in ports and shipping domain as a case study in this field. The investigated studies show that blockchain can be integrated into processes such as financial and document workflow. This review contributes to research by focusing on the adoption of blockchain in the ports and shipping industry to support digital transformation. It also aims to understand the existing port practice and map it with current tendencies based on blockchain. This study gives insight analysis to incorporate blockchain technology into ports and shipping processes globally.

scholarly journals A Review of Game Theory Applications for Seaport Cooperation and Competition

2020 ◽  
Vol 8 (2) ◽  
pp. 100
Author(s):  
Karlis Pujats ◽  
Mihalis Golias ◽  
Dinçer Konur
Keyword(s):  
Game Theory ◽  
Container Terminal ◽  
Container Terminals ◽  
Future Research ◽  
Shipping Industry ◽  
Reference Guide ◽  
Cooperation And Competition ◽  
Maritime Shipping ◽  
Operational Plan ◽  
Work Done

In the ever-changing maritime shipping industry, ports, and more specifically, container terminals, are always on the search for better policy and operational plan developments. As the maritime shipping sector changes, new areas of research emerge. In this paper, we present a review of recent game theory applications for seaport cooperation and competition, accompanied by summary review tables stating the study, the modeling technique used, the methodology and objective, and summary of the results of each study. In total, we have reviewed 33 studies that used game theory models that investigated seaport and container terminal competition and cooperation involving various stakeholders with dating publication years from 2008 to 2019. The paper concludes with a discussion and proposed future research directions. The purpose of the paper is to serve as a reference guide to recent game theory applications on seaport cooperation and competition that would allow a quick understanding of work done in the field.

Being customer-centric through CRM metrics in the B2B market: the case of maritime shipping

2017 ◽  
Vol 32 (3) ◽  
pp. 347-356 ◽  
Author(s):  
Anestis K. Fotiadis ◽  
Chris Vassiliadis
Keyword(s):  
Personal Information ◽  
Empirical Studies ◽  
Economic Recession ◽  
Qualitative Evaluation ◽  
Structured Interview ◽  
Maritime Transportation ◽  
Customer Relationship ◽  
Shipping Industry ◽  
Content Type ◽  
Maritime Shipping

Purpose The purpose of this paper is to present a comparison between the traditional methods for the calculation of customer relationship performance and the modern metrics suggested by the current literature in business-to-business (B2B) markets using the Greek maritime shipping industry as an example. Design/methodology/approach The primary research was conducted in two phases: quantitative analysis of actual measurements and qualitative evaluation of the results. More specifically, in the first phase, the measures used were a collection of traditional and modern customer relationship management (CRM) metrics applied to actual historical data along with statistical data for actual customers of a company supplying services for maritime transportation of containers in the Greek international trade market. For the qualitative evaluation of these results, a semi-structured interview was carried out with seven “specialists/experts” in this business sector, who provided an assessment of the relative worth of each set of CRM measures. Findings The use of modern customer-centred metrics (Share and Size of Wallet, recency, frequency, monetary value) in the shipping sector of Greek industrial activity is the most profitable and efficient means of decision-making. The qualitative research showed that the customer-centred metrics were judged to be more effective and useful, as they provided a multi-dimensional and multi-layered picture of the current and future situation for the company and its customer base. Research limitations/implications To ensure confidentiality of personal information, the research did not use, examine or evaluate the individualized data to preserve the anonymity of the survey sponsor and their specific customers. Originality/value This is the first study that examines the effectiveness of different types of CRM metrics in the B2B market, which has, until now, suffered a dearth of empirical studies in the field, especially in the context of national economies that face intense international trading problems and significant reductions in activity in their maritime shipping industry due to the economic recession.

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