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CSAFE Global



LONDON: June 06, 2018. Insurer TT Club and McKinsey have published the opinions of over 30 experts on what the future holds for the ocean container industry over the next 25 years.

Dubbed ‘Brave new world? – Container transport in 2043’, the report is a qualitative insight into the perceptions and confidence of the people the two companies think have greatest experience in the industry, and are best placed to predict the sector’s future.

They included supply chain professionals, financial intermediaries, law firms, disruptors and innovators.

Port of Felixstowe containersThe report makes five predictions:

  1. The physical characteristics of the industry are unlikely to change, as the container and the ships that carry them will still exist over the next 25 years
  2. Trade flows will become more balanced across trade lanes as incomes converge between East Asia and developed economies, and the emerging economies in South Asia and Africa “catch up”.
  3. Automation will be broadly adopted across the value chain, especially on the landside in ports, terminals, rail and trucking, to unlock significant efficiencies.
  4. Digital, data, and analytics will cause a fundamental shift in the sources of value creation and customers will expect a high level of reliability, transparency and user-friendliness.
  5. The industry leaders in 2043 will look very different; some will consolidate, others may change their business model. Some will be “digital natives”, either start-ups or e-commerce players optimising the container transport leg of their supply chain.

Commenting on the report TT Club CEO Charles Fenton observed: “We believe the container transport industry will face challenges as technology changes the environment, but we are confident that an industry that has shown itself adept at change will rise to meet these challenges. The container’s simplicity and modularity has made it the mode of choice for transporting many goods across the globe.”

McKinsey senior partner Martin Joerss added: “More than 50 years after the introduction of the container, the transport industry faces the transformative rise of digital, data, analytics, and automation. There is a range of futures where digital fundamentally changes the industry’s economics – for the benefit of both customers and industry participants – but getting there will require vision and relentless execution.”

TT Club and McKinsey's 'Brave new world' report

CSAFE Global




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