Recent Developments of Cargo Loss-Mitigating Strategies: A Review
Covid-19 has stalled the growth of international seaborne trade to its nadir since the world’s financial crisis of 2008-2009. In light of this, shipping companies, more than ever, have to seek beyond conventional wisdom in devising their master plans to tolerate the adverse implications levied by the pandemic. In this paper, several advancements in the maritime industry, ship-specific and non-ship-specific, formulated by the scientific community over the last two decades are presented. For ship-specific advancements, the guidelines for the following procedures are presented; 1) to establish effective monitoring systems for container ships, 2) to optimize ship-to-ship transfer operations between Liquefied Natural Gas vessels and Floating Storage and Regasification Units, 3) to optimize ethylene gassing-up operation for Liquefied Petroleum Gas vessels, and 4) to minimize volatile organic compounds emission of crude oil tankers. For non-ship-specific advancements, the following technologies are presented; 1) Data-driven Analytics, 2) Independent Automotive Damage Appraisers Intelligent Cargo System, and 3) Blockchain Technology. All these advancements can be leveraged by shipping companies to maximise their profits, particularly during the challenging epoch, by keeping their cargo loss at a minimal level.
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