Leaps in technology and the resulting changes to workforce requirements are transforming the maritime market.
Technology is transforming the maritime market. Artificial Intelligence (AI) is challenging existing operating practices and advances, such as blockchain, provide efficient methods to track cargo globally in a cost effective, secure manner.
With these advances come changes to workforce requirements, with a greater demand for skilled and data-savvy workers with high levels of science, technology, engineering and mathematics (STEM) knowledge. Modern port operators and maritime businesses require teams that are able to create, operate and maintain autonomous and technological systems. This creates challenges in retaining and upskilling existing workforces.
Port assets also need to be updated and re-purposed to meet the changing needs of their customers and occupiers. Keeping property assets and plant and machinery at the cutting edge will require port operators to embrace new technologies and invest significantly to maintain and increase income levels.
Political initiatives such as the Northern Powerhouse could lead to the supply chain landscape changing nationally, particularly due to increased investment in transport infrastructure in the North of England. This could create significant opportunities for port operators, users and customers as cargo moves away from the current South East dominance.
Maritime businesses require advisers who are able to tackle the complexities of the market. With nearly 25 years’ experience supporting maritime clients, we get the job done and are recognised in the industry for this, winning the Professional Services Award in the Mersey Maritime Industry Awards 2019.
Our advice covers multiple business areas including commercial contracts, procurement, property, planning and environmental law, corporate transactions, banking and finance advice, tax advice, dispute resolution and employment and pensions.
We are proud to be working with some of the UK’s largest maritime businesses, including port operators with turnover in excess of £700m and global container shipping companies.
