The major factor that saved the shipping industry against the destructive trends of 2016 was a drastic fall in the price of oil and its products during that time. But expert reports say that in 2018, as the second consecutive year, a steady increase will be seen in the price of oil and its derivatives. An increase in oil prices had increased the price of the bunker for ships. In addition to that by 2020, it is expected that more ships will invest in installing exhaust gas cleaning systems or switch to a low- sulphur compliant bunker. This issue is particularly crucial in deliverable ships this year and beyond. This is definitely going to increase the ships’ capital or operational cost. The favorable effects were expected to continue in 2018, pointing to lift the sanctions of Iran and its positive effects on the transportation of oil and its products. Another issue that needs to be addressed in this context is farmers’ and rural people’s consumerism, and urbanization, which affects the increased demand for energy. Studies reveal that consumer demand is swelling in most developing countries. Therefore, this is expected to have a huge direct impact on the transportation of crude oil and its derivatives. The cost of adaptation in the shipping industry to meet the requirements for reducing the sulphur content of marine fuels by 2020 will be about $60 billion. Ports are the vital links in the shipping chain. On this note, the improvement of infrastructure and productivity of them is very important, and today the port the industry faces many challenges that are reflected in the shipping community as well.
It is thus very important to study the pain points and tactics to solve them to be successful in the supply chain management career. Many institutes offer the best supply chain management courses in Kerala to the students. Choosing the best is always a challenge. Practical knowledge is compulsory while stepping to this career.
If you are an aspirant who is serious about your career, choose the right place that offers the best supply chain management courses in Kochi. Take expert advises if you are confused. Grab the right opportunity from the right place.
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