How to Find Stability in Shipping Amid Impending Cyber-Attack
TLME has recently completed the inaugural Future of Logistics Conference during which a panel of experts in the shipping and ports sector sat down together and devised a plan to withstand the challenges of the modern market.
Experts on this panel included event host and CEO of Vespucci Maritime Lars Jensen; Shahab Al Jassmi, Commercial Director of Ports & Terminals – DP World UAE Region; and Kim Larsen, VP of Commercial & Business Development (Ports).
How to Handle a Turbulent Market
Proceedings began with speaker and host Lars Jensen outlining the complexity in the sector at present, before bringing it down to one core issue – congestion.
Jensen then challenged the speakers with a big question, asking bluntly; ‘Why don’t ports work?’
Al Jassmi answered that DP World had been planning for years for all manner of eventualities, yet the key issue has been the broader supply chain system.
Al Jassmi said that Dubai has been working very hard to automate as much documentation as possible in order to streamline the requirements of different nations.
Future of Logistics Session Envisions Tomorrow’s Supply Chain
He also added that DP World has been working very closely with customers to overcome the challenges of the changing documentation requirements of various port authorities and governments.
He concluded that the congestion is the result of a complex interplay between changing requirements and situations of the multiple stakeholders and doesn't just depend on the efficiency of one port authority or terminal operator.
The solution? Compromise.
Kim Larsen agreed with Al Jassmi stating that we have to ‘look beyond the headlines’ and discover the core drivers at play causing congestion, as these are not stemming from ports.
The key areas he mentioned included rail and trucking, as if you are not moving your containers out of the port fast enough then you're building up your utilisation capacity to very high levels.
This leads to getting more and more congested.
Despite the issues at hand, however, Larsen did state that the Middle East is in a considerably better position that the US or Europe.
Cyber-Crime: Be Ready, Be Aware
Jensen concluded the session with a very stark warning regarding cybercrime.
As operations become increasingly digitized it provides a massive opportunity for criminals, and Jensen warned that criminals of this nature are becoming exceptionally advanced.
When you factor in criminals can extort billions of dollars from unsuspecting companies with a very small chance of being caught, the cybercriminals are getting more and more advanced.
Henceforth, Jensen warned that it’s no longer a case of if you’re going to be attacked, but when.
Despite this, Jensen advised that the industry still goes full steam ahead into automating operations, it’s just very important to keep an eye on your security, otherwise you’re going to pay a very big price.
