A decade defined by maturity

We already see more recognition of the need for an eco-friendly approach to business and alongside it, building sustainability.

More automation is coming, more creative financing vehicles, an even larger role for the private sector in infrastructure development and maintenance. Concession models will widen their influence – more whole port and access waterway opportunities are on the horizon.

Increased emphasis on margins seems certain and particularly as the rate of trade growth slows. Global port container throughput growth is put at around the 3 per cent mark for 2019, dragged down from earlier higher estimates by a slowing global economy, the China-US trade war and growing political instability in key regions
of the world.

As we move into the third decade of the 21st Century no shortage of challenges are visible.

On the one hand it is a decade that promises to witness a significant maturing of the trade picture promoting industry consolidation and, at long last, an end to the ‘bigger is better’ approach.

There may even be increased recognition of the reality that niches can be good to occupy. On the other hand, there promises to be an increasing need for professionalism in the ports and shipping sector – sadly, in some ways, with less room for entrepreneurial flair with it sacrificed on the altar of inching up efficiency step-by-step.

The decade from 2020 may well be defined as the decade when container activity in particular reached a defining point of maturity. This may also embrace a more human face – more Corporate Social Responsibility (CSR), greater development of the workforce skill base but also (out of necessity) less allegiance to the “jobs for life” principles, more contracts, greater outsourcing and a generally revitalised work culture dovetailing with the requirements of the times.

All in all, there is still a lot of truth in the saying: “The greatest adventure is what lies ahead.”