The Future of Shipping Industry: Revolutionary Innovations Reshaping Maritime Commerce in 2025

The shipping industry, responsible for moving 80% of global trade, stands at the threshold of its most dramatic transformation in centuries. While ships have evolved from wooden sailing vessels to massive steel containers over the past few decades, the technological revolution currently underway is fundamentally reshaping how ships operate, how aspiring owners access maritime opportunities, and how global commerce itself functions.

The convergence of blockchain technology, artificial intelligence, autonomous navigation systems, and environmental innovations is creating unprecedented opportunities in an industry that has traditionally remained exclusive to established players. These innovations aren't just improving operational efficiency; they're democratizing access to ship ownership and creating new pathways for aspiring maritime owners to participate in global trade.

What makes 2025 particularly significant is that many of these technologies have moved beyond experimental phases to practical implementation. From tokenized ship ownership platforms that enable fractional participation to autonomous vessels beginning operational trials, the future of shipping isn't just approaching; it's already here.

Table of Contents

1. Autonomous Vessels: The Dawn of Unmanned Maritime Operations

2. Blockchain Technology: Democratizing Ship Ownership Through Tokenization

3. Artificial Intelligence: Optimizing Every Aspect of Maritime Operations

4. Green Shipping Innovations: Environmental Technology Revolution

5. Digital Supply Chain Transformation

6. Smart Port Technology and Automation

7. Advanced Materials and Ship Design Innovation

8. The Financial Technology Revolution in Maritime Ownership

9. Challenges and Implementation Barriers

10. The Maritime Landscape of 2030: A Complete Transformation

Autonomous Vessels: The Dawn of Unmanned Maritime Operations

By mid-2025, Maritime Autonomous Surface Ships (MASS) will transition from concept to practical deployment, representing one of the most significant transformations in the shipping industry. Autonomous ships, also known as unmanned ships, are designed to navigate and perform various operational tasks using advanced sensors, artificial intelligence (AI), and communication systems, fundamentally changing how maritime operations are conceived and executed.

The development of autonomous vessel technology addresses several critical challenges facing the shipping industry. Crew costs typically account for 30-50% of operational expenses for traditional vessels, while human error is responsible for approximately 75% of maritime accidents. Autonomous systems promise to address both issues simultaneously by reducing operational costs and improving safety outcomes through the elimination of human error factors.

Companies like Rolls-Royce and Kongsberg are developing autonomous vessels, including ferries and cargo ships. AI is used to optimize routes and avoid collisions through advanced navigation, demonstrating the practical implementation of these technologies across different vessel types and operational scenarios.

Current autonomous ship development focuses on different levels of automation, similar to the classifications used in the automotive industry. Level 1 systems provide decision support to human crews while maintaining human control of all operations. Level 2 automation can control specific functions, such as navigation or engine management, while humans monitor all systems. Level 3 systems operate independently with human oversight available for intervention when needed. Levels 4 and 5 represent fully autonomous operations with minimal or no human involvement required.

The economic implications of autonomous shipping are substantial. Beyond crew cost reductions, autonomous vessels can operate continuously without rest requirements, potentially increasing utilization rates and revenue generation. However, these systems require significant investments in sensor technology, communication systems, and shore-based monitoring facilities that may offset some operational savings.

Safety considerations drive much of the development of autonomous vessels. These systems integrate multiple sensor types, including radar, lidar, cameras, and GPS, to create comprehensive situational awareness that often exceeds human capabilities. Advanced collision avoidance systems can process multiple variables simultaneously and react faster than human operators in emergency situations.

Regulatory frameworks for autonomous vessels are evolving rapidly. The International Maritime Organization is developing guidelines for autonomous operations, while individual maritime jurisdictions are creating specific regulations for testing and deployment. These regulatory developments will largely determine the timeline for the widespread adoption of autonomous vessels.

From the Helm - Insider's View: The biggest misconception about autonomous ships is that they'll immediately replace all human crews. Early deployments will likely focus on specific routes and vessel types, with human oversight remaining critical for complex operations and emergency situations. The technology is advancing rapidly, but the maritime industry's safety-first culture ensures careful, gradual implementation.

Blockchain Technology: Democratizing Ship Ownership Through Tokenization

Blockchain technology is revolutionizing ship ownership by enabling fractional participation in an industry that has historically required enormous capital commitments. Traditional ship ownership demands investments of tens or hundreds of millions of dollars, creating barriers that exclude most aspiring ship owners from participating in maritime commerce.

Tokenization through blockchain systems addresses this exclusivity by dividing ship ownership into digital tokens that represent verified legal shares of actual vessels. This process involves placing ships into legally distinct Special Purpose Vehicles, then digitizing ownership of these entities into Maritime Asset Tokens, which are recorded on secure blockchain networks. Each token represents authentic ownership rights, including entitlement to earnings generated from ship operations.

The technological foundation enabling this transformation relies on smart contracts that automate complex maritime agreements. Charter party contracts, earnings distribution schedules, and operational reporting can be executed automatically when predetermined conditions are met. This automation reduces administrative costs while ensuring transparent, tamper-proof records of all transactions and ownership changes.

Beyond democratizing ownership, blockchain technology is addressing documentation challenges that have plagued international shipping for decades. Bills of lading, cargo manifestos, customs declarations, and inspection certificates can be stored on immutable digital ledgers, which prevent fraud while reducing processing delays that cost the industry billions of dollars annually.

Supply chain transparency benefits significantly from the implementation of blockchain. Every step of cargo movement, from origin to destination, can be recorded on permanent digital ledgers, providing customers with real-time tracking and verification capabilities. This transparency reduces disputes while enabling more efficient customs processing and trade finance operations.

The financial implications of blockchain adoption extend throughout maritime operations. Smart contracts can automatically release payments upon confirmation of cargo deliveries, thereby reducing counterparty risks that have traditionally required expensive insurance and legal protections. Trade finance processes that previously required weeks of document verification can be completed in hours through blockchain-verified records.

Aspiring ship owners benefit from the enhanced liquidity that blockchain platforms provide. Traditional ship ownership involves illiquid investments that can take months or years to sell. Tokenized ownership creates secondary markets where ownership shares can be traded more easily, providing flexibility that wasn't available through conventional ownership structures.

Professional management integration with blockchain platforms ensures that aspiring owners receive operational benefits without complexity. Experienced maritime professionals handle vessel operations, maintenance, and charter management while providing token holders with transparent reporting and regular earnings distributions based on actual ship performance.

Artificial Intelligence: Optimizing Every Aspect of Maritime Operations

Artificial intelligence is transforming maritime operations from reactive management to predictive optimization across every aspect of the shipping industry. AI-based route optimization, autonomous cargo ships, and blockchain-driven port logistics are expected to advance, creating comprehensive improvements in efficiency, safety, and profitability throughout the industry.

Route optimization represents one of AI's most immediate value propositions in the shipping industry. Traditional navigation relies on historical data and human experience to plan voyages, often resulting in suboptimal routing decisions that increase costs and delivery times. AI systems analyze real-time weather patterns, ocean currents, port congestion levels, fuel prices, and cargo priorities to calculate optimal routes that minimize expenses while maximizing efficiency.

These systems can dynamically adjust routes as conditions change throughout voyages, potentially saving thousands of dollars per trip while improving delivery reliability. Advanced algorithms consider multiple variables simultaneously, including seasonal weather patterns, geopolitical risks, and port efficiency ratings to recommend routing decisions that human planners might not consider.

Shipping lines utilize AI and IoT sensors to predict engine failures, thereby reducing downtime and costly repairs, and demonstrating how predictive maintenance, powered by machine learning algorithms, is revolutionizing vessel management. These systems analyze engine performance data, vibration patterns, temperature fluctuations, and operational histories to predict when equipment will require service before failures occur.

Predictive maintenance provides several advantages over traditional scheduled maintenance approaches. Systems can optimize maintenance timing to minimize port time while preventing catastrophic failures that could strand vessels at sea. This approach reduces overall maintenance costs while improving vessel reliability and operational efficiency.

Port operations benefit significantly from AI-driven improvements in berthing optimization, cargo handling efficiency, and logistics coordination. Machine learning systems analyze historical berthing patterns, cargo handling speeds, and weather conditions to predict optimal arrival times and port assignments. This coordination reduces waiting times that traditionally cost shipowners substantial sums in fuel and opportunity costs.

Cargo optimization through AI involves analyzing container weights, destinations, and handling requirements to maximize space utilization while maintaining proper weight distribution and vessel stability. Advanced algorithms can pack cargo more efficiently than human planners, increasing revenue per voyage while ensuring safety compliance and operational efficiency.

Risk assessment has become increasingly sophisticated through AI analysis of geopolitical situations, weather patterns, piracy threats, and regulatory changes. These systems provide ship owners with comprehensive risk profiles for different routes and timing options, enabling more informed decisions about voyage planning, insurance requirements, and operational strategies.

Green Shipping Innovations: Environmental Technology Revolution

In 2025, cleaner fuels, digital solutions, and advanced emission controls are driving the transition to greener operations, as environmental regulations and sustainability demands reshape how ships are designed, powered, and operated.

Alternative fuel technologies are fundamentally changing ship propulsion systems. The maritime industry can reduce its environmental impact by implementing green shipping solutions, such as alternative fuels (LNG, biofuels, hydrogen, and ammonia), and energy-efficient technologies, thereby creating new opportunities for environmentally conscious shipowners and operators.

Liquefied natural gas has emerged as a transitional fuel that reduces emissions while maintaining operational practicality for existing vessel designs. LNG-powered ships produce approximately 20% fewer carbon dioxide emissions and significantly reduce sulfur oxide and nitrogen oxide emissions compared to traditional heavy fuel oil systems.

Hydrogen fuel cell technology represents a longer-term solution for zero-emission shipping. Several pilot projects are testing hydrogen-powered vessels for short-haul routes, with plans to expand to longer voyages as storage and refueling infrastructure develop. These systems produce only water as a byproduct, eliminating operational emissions entirely.

Ammonia propulsion systems are gaining attention for their potential to power large ocean-going vessels without carbon emissions. Several major shipbuilders are developing ammonia-powered designs, though safety considerations and infrastructure requirements remain challenges for widespread adoption.

Starting January 2025, commercial vessels over 5,000 gross tons operating in EU waters will be required to pay for their carbon emissions under the ETS framework, demonstrating how regulatory pressures are accelerating environmental technology adoption throughout the maritime industry.

Energy efficiency improvements through advanced hull designs, waste heat recovery systems, and optimized propulsion technologies are providing immediate environmental benefits while reducing operational costs. These technologies often pay for themselves through fuel savings while improving environmental performance.

Wind-assisted propulsion systems are experiencing renewed interest as fuel costs rise and environmental regulations become increasingly stringent. Modern wind systems include rotor sails, kite systems, and rigid wing sails that can be integrated with existing vessel designs to reduce fuel consumption by 10-30% depending on routes and weather conditions.

Maritime companies are turning to energy-efficient solutions to reduce GHG emissions and lower fuel costs. This involves enhancing various vessel systems, including scrubbers, rudders, lubrication, coatings, and propulsion systems, showing how comprehensive approaches to efficiency improvements can deliver substantial environmental and economic benefits.

Shore power connections enable vessels to shut down their engines while in port and connect to the electrical grid, thereby reducing emissions in populated areas. Many ports are installing shore power infrastructure, while newer vessels are being designed with shore power capabilities as standard equipment.

Carbon capture and storage systems are being developed for maritime applications, potentially enabling continued use of conventional fuels while eliminating emissions. These systems capture carbon dioxide from engine exhaust and store it onboard for disposal at specialized facilities.

Digital Supply Chain Transformation

Digital technologies are creating unprecedented transparency and efficiency throughout maritime supply chains, transforming how cargo moves from origin to destination while providing customers with real-time visibility and control over their shipments.

Internet of Things sensors integrated throughout vessels and cargo containers provide continuous monitoring of environmental conditions, location, security status, and handling events. This real-time data enables proactive management of sensitive shipments while providing customers with detailed tracking information that was previously unavailable.

Digital documentation systems are eliminating paper-based processes that have created delays and opportunities for errors throughout international shipping. Electronic bills of lading, certificates of origin, and customs declarations can be instantly verified and transmitted, reducing processing times from days to hours while preventing fraud and errors.

Supply chain financing benefits significantly from digital transparency. Banks and financial institutions can access real-time data on cargo movements, vessel performance, and trade documentation, enabling faster and more accurate financing decisions. This improved access to capital reduces costs for both shipowners and customers, while enabling more efficient trade flows.

Customs and regulatory compliance becomes more efficient through digital systems that automatically generate required documentation and verify compliance with international trade regulations. These systems reduce delays at ports while ensuring proper compliance with complex regulatory requirements that vary by jurisdiction and cargo type.

The integration of artificial intelligence with supply chain data enables predictive analytics that can anticipate disruptions before they occur. These systems analyze weather patterns, port congestion, labor situations, and geopolitical events to recommend alternative routing or timing adjustments that minimize delays and additional costs.

Customer communication systems provide unprecedented visibility into shipment status, expected delivery times, and any issues that might affect cargo. This transparency enables businesses to optimize their supply chain planning, reduce inventory requirements, and improve customer satisfaction.

Integration with port management systems enables seamless coordination between vessels, terminals, and inland transportation. This coordination reduces congestion while optimizing resource utilization throughout the supply chain from ship to final delivery destination.

Smart Port Technology and Automation

Port operations are undergoing a dramatic transformation through the use of automation technologies, which improve efficiency while reducing costs and environmental impacts. Smart port development represents a comprehensive reimagining of how cargo moves between vessels and inland transportation systems.

Automated container handling systems use robotic cranes and guided vehicles to move containers between ships, storage areas, and trucks with minimal human intervention. These systems operate more consistently than human workers while reducing accidents and improving throughput rates during loading and unloading operations.

Digital twin technology creates virtual representations of port facilities, enabling the optimization of operations through simulation and predictive modeling. Port managers can test different operational strategies virtually before implementing changes, reducing disruptions while improving efficiency and safety outcomes.

Artificial intelligence systems optimize berth assignments based on vessel characteristics, cargo requirements, and port capacity. These systems can assign arriving vessels to optimal berths while coordinating with inland transportation to minimize congestion and reduce turnaround times.

Blockchain integration with port systems enables the creation of transparent, tamper-proof records of all cargo movements and transactions. This transparency reduces disputes while enabling faster customs processing and more efficient coordination among the various parties involved in cargo handling.

Environmental monitoring systems track air quality, noise levels, and water conditions around port facilities while optimizing operations to minimize environmental impacts. These systems help ports comply with environmental regulations while supporting sustainability goals.

Predictive maintenance systems monitor the performance of port equipment to prevent failures before they disrupt operations. These systems reduce maintenance costs while improving equipment reliability and operational continuity.

Integration with vessel systems enables seamless communication between ships and ports prior to arrival, optimizing preparations for cargo handling and reducing port time. This coordination enhances vessel utilization while reducing costs for shipowners.

Advanced Materials and Ship Design Innovation

Ship design and construction technologies are advancing rapidly, resulting in vessels that are more efficient, durable, and environmentally friendly than those of previous generations. These innovations affect both new construction and retrofit opportunities for existing vessels.

Advanced hull materials, including carbon fiber composites and specialized steel alloys, provide improved strength-to-weight ratios that reduce fuel consumption while increasing cargo capacity. These materials also offer enhanced corrosion resistance, reducing maintenance requirements and extending vessel lifespans.

Hydrodynamic improvements through computational fluid dynamics modeling enable designers to optimize hull shapes for specific routes and cargo types. These optimizations can reduce fuel consumption by 5-15% compared to conventional designs while maintaining or improving stability and safety characteristics.

Modular construction techniques enable more efficient shipbuilding while providing flexibility for customization based on specific operational requirements. These approaches reduce construction time and costs while enabling standardization of critical components across different vessel types.

Digital twin technology extends throughout a vessel's lifecycle, providing continuous monitoring and optimization opportunities from construction through operation to eventual recycling. These systems enable predictive maintenance while optimizing operational parameters for changing conditions and requirements.

Advanced propulsion systems, including podded propellers, contra-rotating propellers, and integrated electric drive systems, provide improved efficiency and maneuverability. These systems often reduce maintenance requirements while providing operational flexibility that wasn't available with conventional propulsion designs.

Lightweight superstructure materials and designs reduce vessel weight while providing improved accommodation and workspace areas. These improvements enhance crew comfort and operational efficiency while contributing to overall fuel efficiency through reduced displacement.

Integration of renewable energy systems, including solar panels and wind generators, reduces auxiliary power requirements while providing backup power capabilities. These systems contribute to environmental goals while reducing operational costs and improving energy security during voyages.

The Financial Technology Revolution in Maritime Ownership

Financial technology innovations are transforming how aspiring ship owners access maritime opportunities, providing enhanced transparency and liquidity that were not previously available through traditional ownership structures.

Tokenization platforms enable fractional ownership by dividing vessel ownership into digital tokens that represent verified legal shares of actual ships. This technology addresses the capital barriers that have historically prevented most aspiring owners from participating in maritime commerce, enabling participation with much smaller investment amounts.

Professional management integration ensures that aspiring owners receive operational benefits without complexity. Experienced maritime professionals handle vessel operations, maintenance scheduling, charter negotiations, and regulatory compliance while providing token holders with transparent reporting and regular earnings distributions based on actual performance.

Secondary market development provides liquidity that traditional ship ownership lacks. Digital platforms enable owners to trade their positions more easily than conventional ownership structures, providing flexibility and exit options that make maritime ownership more attractive to a broader range of participants.

Due diligence and verification processes use technology to ensure that tokenized vessels meet quality and legal standards. Third-party inspections, legal verification, and ongoing performance monitoring protect aspiring owners while maintaining the transparency that digital platforms enable.

Performance tracking systems provide owners with detailed information about their vessels' operational and financial performance. These systems integrate with vessel sensors and operational data to provide real-time reporting that was previously unavailable through traditional ownership structures.

Automated earnings distribution through smart contracts ensures that owners receive their proportional share of vessel earnings without delays or administrative complications. These systems provide transparency while reducing costs associated with traditional dividend distribution processes.

Risk management through diversification becomes accessible as platforms enable owners to participate in multiple vessels or shipping sectors with smaller individual investments. This approach provides risk mitigation that was previously impractical for smaller, aspiring owners under traditional ownership structures.

Integration with traditional financial services enables maritime ownership to be incorporated into broader investment portfolios and financial planning strategies. These integrations provide tax reporting, estate planning, and portfolio management services that make maritime ownership comparable to other investment options.

Challenges and Implementation Barriers

Despite the significant benefits of maritime innovations, several challenges slow the implementation across the industry. Understanding these barriers is crucial for both technology providers and aspiring shipowners considering opportunities in evolving maritime markets.

Legacy system integration represents a major technical challenge for many innovations. Ships often operate with equipment and software that are decades old and weren't designed to connect with modern digital systems. Retrofitting existing vessels requires careful planning and significant investment, while maintaining operational continuity and ensuring safety standards are met.

Regulatory uncertainty impacts numerous maritime technology deployments, as international shipping operates within complex regulatory frameworks that vary by flag state, port jurisdiction, and cargo type. Technology providers must navigate these requirements while regulators work to update frameworks for new technologies that didn't exist when current regulations were developed.

Cybersecurity concerns create hesitation about increased digital connectivity throughout maritime operations. Ships have traditionally prioritized physical security over cyber threats, but the increased digitalization creates new vulnerabilities that require different security approaches and expertise, which many traditional maritime companies lack.

Training and skill development challenges arise as maritime technologies require new competencies from seafarers and shore-based personnel. The industry must invest in education and training programs while managing generational differences in technology adoption and comfort levels with digital systems.

Capital investment requirements for advanced maritime technologies can be substantial, particularly for smaller ship owners who may lack access to financing for technology upgrades. This challenge is being addressed through improved financing options and technology-as-a-service models that reduce upfront investment requirements.

Standardization and interoperability issues arise when different technology providers use incompatible systems and protocols. Industry-wide standards are being developed, but their implementation remains inconsistent across different maritime sectors and regions, resulting in inefficiencies and additional costs.

Cultural resistance within the maritime industry sometimes slows the adoption of new technologies. The industry's conservative, safety-first culture provides important benefits but can also create reluctance to adopt innovations that haven't been extensively proven in maritime environments.

Return on investment uncertainty affects technology adoption decisions because many maritime innovations require substantial upfront investments with benefits that may not be realized for years. Companies must balance innovation investments with immediate operational requirements and financial constraints.

The Maritime Landscape of 2030: A Complete Transformation

The maritime innovations evident in 2025 are likely to accelerate and converge by 2030, creating a shipping industry that looks fundamentally different from today's operations while providing unprecedented opportunities for aspiring shipowners and maritime professionals.

Fully integrated digital ecosystems will connect ships, ports, cargo owners, and financial institutions through seamless data sharing and automated processes, enabling efficient and streamlined operations. This integration will enable the real-time optimization of global trade flows, providing comprehensive transparency that benefits all participants in maritime commerce.

Autonomous ship operations are likely to become common for certain routes and cargo types, particularly for predictable trades between major ports. These operations will reduce costs while potentially improving safety and environmental performance; however, human oversight will remain crucial for complex operations and emergency situations.

Sustainable shipping will become the standard rather than the exception, driven by regulations, customer demands, and economic incentives. Technology integration will be essential for monitoring, reporting, and optimizing environmental performance across global fleets while maintaining operational efficiency and profitability.

The integration of green fuels, autonomous technologies, and smart port development will lead to a more sustainable and efficient sector, creating comprehensive improvements that benefit ship owners, customers, and environmental goals simultaneously.

Democratized ownership models enabled by blockchain technology will likely make ship ownership as accessible as stock market participation. This accessibility will bring new capital into the maritime industry while providing aspiring owners with transparent, professionally managed opportunities that were previously unavailable.

Advanced predictive analytics will enable proactive management of ship operations, maintenance, and financial performance. These capabilities will reduce risks while improving returns for shipowners and enhancing operational efficiency for the broader maritime industry.

Supply chain transparency will reach unprecedented levels through the integration of multiple digital technologies. Customers will have real-time visibility into their cargo from origin to destination, while financial institutions will have comprehensive data for trade finance decisions.

Port operations will achieve new levels of efficiency through comprehensive automation and digital integration. These improvements will reduce costs while improving service quality and environmental performance across global port networks.

Key Takeaway: The convergence of autonomous systems, blockchain technology, artificial intelligence, and environmental innovations is creating a maritime industry that will be more accessible, efficient, and sustainable than ever before, providing opportunities for aspiring ship owners while supporting global trade growth.

Conclusion: Navigating the Innovation Wave

The future of the shipping industry is being written right now through innovations that address decades-old challenges while creating entirely new opportunities for participation in maritime commerce. From autonomous vessels that operate without human crews to blockchain systems that enable fractional ownership of ships, these technologies are democratizing an industry that has remained exclusive for centuries.

The convergence of these innovations is particularly significant for aspiring ship owners who previously faced insurmountable barriers to maritime participation. Tokenization platforms, professional management systems, and transparent reporting are making ship ownership accessible while maintaining the operational excellence that global trade demands.

Environmental pressures, economic competition, and technological advancements are accelerating the adoption of innovation throughout the maritime industry. Organizations that embrace these changes will likely thrive, while those that resist digital transformation may find themselves increasingly disadvantaged in global markets that demand efficiency, transparency, and environmental responsibility.

The maritime industry of 2030 will likely bear little resemblance to traditional shipping operations. Digital systems will enable real-time optimization of global trade flows, autonomous vessels will handle routine cargo movements, environmental compliance will be seamlessly integrated into operations, and ship ownership will be as accessible as any other professional investment opportunity.

For aspiring ship owners, maritime professionals, and industry observers, understanding these innovation trends isn't just about staying informed; it's about positioning for opportunities in an industry that's transforming from exclusive to accessible, from opaque to transparent, and from traditional to innovative. The future of shipping promises to be more exciting, more accessible, and more profitable than ever before.

FAQS

What are the most important shipping industry innovations for 2025? 

Key innovations include blockchain tokenization for fractional ship ownership, autonomous vessel technology, AI-powered logistics optimization, green fuel alternatives, and digital supply chain transparency systems.

How will autonomous ships change the shipping industry? 

Autonomous ships will reduce operational costs by up to 22%, improve safety through eliminated human error, enable 24/7 operations, and create new business models for ship ownership and management.

What role does blockchain play in the future of shipping? 

Blockchain enables fractional ship ownership through tokenization, creates transparent supply chain documentation, automates contracts through smart systems, and democratizes access to maritime investments.

When will green shipping technologies become mainstream? 

Industry experts predict widespread adoption of alternative fuels and electric propulsion systems by 2027-2030, driven by environmental regulations and economic incentives.

How are digital technologies making ship ownership more accessible? 

Digital platforms enable fractional ownership with lower capital requirements, provide transparent performance tracking, offer professional management services, and create liquid secondary markets for maritime assets.