INDUSTRY 4.0: DIGITALIZATION CHALLENGES IN MARITIME SHIPPING

Abstract

‘Digitization’ refers to converting analogue into digital data for further processing by electronic means. The broader concept ‘digitalization’ stands for increasing applications of digital technologies by organizations, industries or societies. While the first term is an underlying condition for it, the later has gained attention as digitalization of all aspects in supply chains, including maritime shipping. The paper analyses and identifies deficits when it comes on negotiable bills of lading, despite the overal rapidly developing legal foundation enabling paperless transport documentation. The applicable transport law does not facilitate ‘digitization´. The implementation efforts of ‘digitalization’ are hindered by inherent operational risks and liability burden or actors involved who are not able to adapt to the evolving new digital economy.