Value migration: Digitalization of shipping as a mechanism of industry dethronement

In this conceptual paper, we review latest developments related to unmanned vessels and sketch potential scenarios that implicate with the existing maritime industry structure. On the one hand, we isolate a range of challenges that make the imminent realization of unmanned vessels seem like a rather...

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Bibliographic Details
Published in:Journal of shipping and trade 2020-05, Vol.5 (9), p.1-18, Article 9
Main Authors: Poulis, Konstantinos, Galanakis, Gregorios C, Triantafillou, Gregory T, Poulis, Efthimios
Format: Article
Language:English
Subjects:
Autonomous operations
Business and Management
Crew
Digitalization
Emerging Markets/Globalization
Industry dethronement
Logistics
Review
Shipping industry
Trade
Unmanned vessels
Value migration
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Summary:In this conceptual paper, we review latest developments related to unmanned vessels and sketch potential scenarios that implicate with the existing maritime industry structure. On the one hand, we isolate a range of challenges that make the imminent realization of unmanned vessels seem like a rather utopian pursuit. On the other hand, we explain the reasons that may catalyse their emergence. Inspired by these opposing tensions, we highlight that the digital transformation of the shipping industry has the potential to enhance value within the industry's ecosystem. However, we also contend that unmanned vessels -if realized- pose a very particular threat to the identity of the shipping industry as we know it. In particular, we build upon the concept of value migration and we highlight the drastic existential changes that may likely stem from a shift to non-seafarer-centric shipping. We conclude with questions that matter for industry dethronement purposes i.e., the possibility that existing industry structures may be substantially reconfigured following a removal of the seafarer as the nucleus of value creation in shipping.
ISSN:2364-4575
2364-4575
DOI:10.1186/s41072-020-00064-0