A low oil price and a poor earnings environment have reduced spending on new efficiency technology and designs as digitalisation offers a quicker and more effective route to cutting costs and gaining efficiencies.

The biggest recent advances in technology and design have been made in applying so-called “smart” — or internet of things (IoT) — technology to the shipping industry.

Improved ship-to-shore communications have opened the door for remote maintenance and operations, and that has started the industry dreaming of a future where unmanned vessels are operated from land-based offices.

Smart