Did you know that an estimated 90% of world trade is transported on water? With such a large percentage, it’s no wonder that the maritime and shipping industry faces a vastly unique set of challenges, as it spans on and off-shore, and continues to grow annually as manufacturing and other related industries boom in China, Mexico and other nearby major ports around the world. The projected growth rate between 2016 and 2019 for the global container market is 4.7 percent. And this is just one small sector of the booming maritime and shipping industry. So, what are the challenges associated with this rapidly growing market, and what types of tools are out there to address them? Here’s a look at the top challenges surrounding the maritime and shipping industry along with ways you can better manage regulatory compliance.
Changes to Global Trade and Globalization. Shifts in globalization occur due to a number of reasons: economical, protection and environmental. The deepening of economic globalization has been a result of rapidly increasing global trade and investment flows. However, globalization can take dynamic turns, putting it in a bedrock state. Brexit for example, brought on a new set of regulatory challenges to the entire maritime and shipping industry, leaving many countries in a protectionist state. Globalized motivation to improve the environmental performance of maritime transport can be summarized by two statements: Maritime transportation is becoming directly required to meet environmental performance standards through the International Maritime Organization, the European Community, and North American regulation. In order to address these challenges, companies need to stay well-informed with the latest regulatory policies. With a strong awareness of both local and international regulations, your company can effectively navigate regulatory compliance related issues. Gensuite offers an audit and compliance suite of applications and Environmental Compliance software that help digitize the regulatory process making it simple for you to meet regulatory requirements applicable to the maritime and shipping industry–and stay up-to-date with changes related to globalization.
Increased Need for Technology in Remote Locations. Obtaining a cost-efficient, reliable, flexible, efficient and service-rich communication system that can fully cover a sea region, including both off-shore and on-shore areas is a highly desired item in the maritime and shipping industry. With Gensuite Mobile, you can take your compliance and management programs and processes anywhere. Imagine being able to access offline forms related to your global supply inventory, conduct audit protocols and collaborate with global teams. You can even upload forms and picture attachments with the Gensuite Mobile QR code feature.
Adherence to Strict Regulatory Changes. As with any industry, the maritime and shipping industry comes with a unique set of regulatory standards and guidelines. The top ones include: ISO/TC8 ships and marine technology, International Maritime Organization (IMO): Maritime Safety Committee (MSC), and Maritime Advisory Committee for Occupational Safety and Health (MACOSH). Stay informed with shifts to these regulations by subscribing the Gensuite Community, a diverse collection of resources providing thought leadership and guidance documents on all things related to ISO standards, case studies, and much more.
Such diversity requires corporations in the maritime and shipping industries to connect with safety management software systems and consulting services that understand such challenges. With Gensuite software, you can digitize offshore and onshore programs with a comprehensive software system that enables maintenance of regulatory compliance and trains team members globally with 18+ languages and Mobile capabilities. Learn more about how Gensuite services the maritime and shipping industry by visiting here today.