The Singapore Exchange (SGX) has sent a note to clients on key takeaways from last month’s Singapore Iron Ore Week in which disruptive technology was very much to the fore.
“The shipping industry is riding high seas of disruption from digitalization and automation,” SGX noted.
Anglo American amongst others saw a huge opportunity for automated dry bulk ships, as experienced in mining with automated trucks. Fellow miner BHP shared the early success of its innovative e-procurement platform for capesize vessels chartered for carrying iron ore.
“Some industry observers saw this as a herald of disruption to spot pricing and e-trading of other traditional phone-broked vessel routes which are less standardised than capesizes,” SGX reported.