World Bank calls for port digitalization
The international development bank joined with industry organizations, calling on the world’s ports to modernize through digitalization.
By Michael McGrady, Maritime Direct Americas Correspondent
Late last week, the World Bank — headquartered in Washington DC — released a new report highlighting the benefits of digital collaboration between private and public entities to improve the global maritime supply chain.
The International Association of Ports and Harbors and the World Bank issued the report jointly, notes a press release. The report is entitled Accelerating Digitalization: Critical Actions to Strengthen the Resilience of the Maritime Supply Chain.
It describes how the industry could benefit from digital collaboration to streamline aspects of maritime transport, cross-border processing, communications between vessels and shore authorities, and how ports and terminals can benefit from digital modernization.
The report also analyzes technologies applied to some of the world’s largest port and maritime organizations. Some of these technology recommendations include implementing big data solutions, blockchain, wearable devices, 5G, the internet-of-things, and other ‘smart’ technologies to improve corporate and crew performance and economic capabilities.
“In many of our client countries, inefficiencies in the maritime sector result in delays and higher logistics costs, with an adverse impact on the entire economy. Digitization gives us a unique chance to address this issue,” said Makhtar Diop, World Bank’s vice president for infrastructure, in a statement.
“Beyond immediate benefits to the maritime sector, digitalization will help countries participate more fully in the global economy and will lead to better development outcomes,” Diop added.
