Maersk Tankers poised to lead digitization of tanker industry

Maersk Tankers wants to become a digital frontrunner in the tanker industry, according to the company’s first Chief Digital Officer, Peter Schrøder.

There are a lot of benefits to reap from digitizing parts of the tanker shipping industry, which remains to be very analogue in many ways, Schrøder explains. However, the process itself requires from the industry players to redefine ways of doing business and even find new businesses to work with.

“The tanker industry, and shipping overall, is set to dramatically transform as better data, integrated systems and new services contribute to these changes. At the same time, there is no one specific technology driver for this transformation, meaning Maersk Tankers has a high degree of flexibility for innovation. As such, the company is poised to lead the industry into a new frontier,” he added.

Maersk Tankers already has a wealth of knowledge, and it needs to combine it with the insights from customers and partners so as to be able to address the key issues at stake and push for industry-wide digital transformation.

“Transforming the tanker industry requires bold action driven by a customer- and partner-centric mindset,” Schrøder stressed.

Speaking of the benefits digitization brings to the table, Schrøder said that better data can lead to better decision-making, building on the gut feeling that has traditionally driven the industry.

“Data-led processes also increase transparency for our partners and customers and open up possibilities for creating new services. At the same time, as the digital frontrunner in the tanker industry, Maersk Tankers is sticking its nose out, and this can bring challenges. We must be careful to avoid creating products that have already been developed. Ensuring the industry is ready for this change, and carving out a path forward for the industry as a whole is essential,” he added.

However, when it comes to choosing from the available technologies on the market to help transform the sector, Schrøder said that there is no ‘one solution fits all’.

Instead, Maersk Tankers plans to capitalize on different trends by investing in the right partnerships and rely on the strength of its own workforce.

In October 2017, Danish shipping and energy conglomerate A.P. Møller – Mærsk completed the sale of its tanker business Maersk Tankers to one of its subsidiaries APMH Invest.

The group has been very active in the push for digitalization of the shipping industry and ways business is done.

Just two weeks ago, Maersk announced that it has set up a blockchain joint venture company with IBM.

By applying the technology to digitize global trade processes, the duo wants to create a single shared view of a transaction for participants of the supply chain, the duo explained.

In addition, blockchain technology is expected to minimize transport costs of goods, especially with respect to the costs resulting from required trade documentation to process and administer goods.

The JV builds upon the cooperation IBM and Maersk began in June 2016.