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August 1, 2017 - The shipping world needs to wake up and embrace the philosophy of smart shipping because it is already here and the downturn in the world economy is not going to last forever, according to Panos Kirnidis, CEO of the Palau International Ship Registry. “The maritime industry knows that smart ships and smart technology is the way forward and yet there seems to be reluctance on the part of some owners to fully embrace the technology. When the world economy turns and the shipping world recovers, progress in technology will be one of the real driving forces. The time to embrace this technology is now. Smart ships are here and so are smart registries.” Smart shipping is still likely to be on the back-burner until the world economy picks up but this has not stopped the ongoing rush to develop the technologies behind it, according to Panos Kirnidis. “Information holds the key to smooth operations and that will be unaffected by the state of the world economy and how the shipping market is reacting. It is now we have to invest and develop smart technologies, not in the future when the shipping world recovers. Then you will be behind the curve and racing to catch up with other registries. Ship owners need to be prepared for this recovery and so do registries. Smart technologies will impact the way we offer ship owners and managers solutions to keep them at sea. As a ship registry we need to be able to offer technology that covers operations, maintenance and data collection. It’s now about accountability and data management.” Palau International Ship Registry introduced a new Deficiency Prevention System (DPS) at the end of 2016 through a dedicated department monitoring all Palau ships to reduce deficiency and casualty rates, part of the registry’s drive towards cementing its position as a smart flag.

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