The Future Of Port Policy & Finance

01/11/24 • 50 min

In this episode of The Future Of, Cary Davis, President and CEO of the American Association of Port Authorities (AAPA), joins host Jeff Dance to discuss the future of port infrastructure, policy, and finance. They discuss the challenges of investing in future-proof infrastructure, the importance of decarbonizing port operations, and the role of technology in shaping the future of ports.They Cover:

06:10 - 12:29 - Representing over 120 ports across the Western Hemisphere, including 80 in the U.S., the American Association of Port Authorities (AAPA) is a key player in advocating for ports at various levels of the federal government. The organization has achieved several legislative victories recently, notably the Infrastructure Law and the Inflation Reduction Act, which have resulted in significant investment in port infrastructure. Also, the POWERS Program is designed to promote the use of renewable energy sources, such as offshore wind and solar power, in ports.
12:29 - 17:26 - The infrastructure of ports in the U.S. requires significant maintenance and modernization, which is being driven by funding from initiatives such as the Bipartisan Infrastructure Law and the Inflation Reduction Act. The focus is on rehabilitating aging traditional infrastructure, considering some ports are over a century old. It is also essential to adapt ports to accommodate larger, modern vessels for both cargo and tourism. Additionally, there has been an increase in green energy projects at the post, with an impressive $50 billion dedicated to various initiatives, including hydrogen, nuclear, and offshore wind energy. Moreover, a $3 billion grant program from the EPA for cleaner infrastructure and operations is set to roll out in early 2024.
22:41 - 27:51 - The Customs and Border Protection (CBP) Space Act aims to secure ports at the expense of customs and reallocate merchandise fees to ensure that CBP has sufficient resources for infrastructure and advanced IT systems, including AI, to identify high-risk cargoes. Also, with the rising cyber risks, ports are undergoing significant digital upgrades and IoT integration to enhance their security.
27:51 - 33:04 - The future of port management depends on finding the right balance between embracing innovation and ensuring security. To reach that balance, ports focus on implementing sustainable fuel options, adopting new IT solutions, and using “cobots” or collaborative robots to improve safety and efficiency.
33:04 - 37:19 - Digital platforms are crucial in transforming the logistics and supply chain industry. To enable efficient sharing of cargo data across different players in the supply chain, ports need to adopt interoperable systems similar to Uber Freight. Currently, there is a lack of unified standards and communication among ports. Therefore, the ultimate aim is to establish a reliable and interconnected digital infrastructure, potentially on a global scale, within the next twenty years.

If you're interested in The Future Of Port Policy & Finance, tune into this episode of "The Future Of", a Podcast by Fresh Consulting.
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Episode resources:

Cary Davis: https://www.linkedin.com/in/cary-davis1
American Association of Port Authorities: https://www.aapa-ports.org
AAPA POWERS Program: https://aapapowers.com

Previous guests include: Gurdeep Pall of Microsoft, Carolyn Belle of Astroscale, Kane Simms of VUX World, Rogger Kibbe of Samsung Research America, Rob Tiffany of Sustainable Logix, Katrina Stevens of Tech Interactive, Check out our 3 most downloaded episodes:
The Future of the Metaverse
The Future of Construction
The Future of Generative AI

06:10 - 12:29 - Representing over 120 ports across the Western Hemisphere, including 80 in the U.S., the American Association of Port Authorities (AAPA) is a key player in advocating for ports at various levels of the federal government. The organization has achieved several legislative victories recently, notably the Infrastructure Law and the Inflation Reduction Act, which have resulted in significant investment in port infrastructure. Also, the POWERS Program is designed to promote the use of renewable energy sources, such as offshore wind and solar power, in ports.
12:29 - 17:26 - The infrastructure of ports in the U.S. requires significant maintenance and modernization, which is being driven by funding from initiatives such as the Bipartisan Infrastructure Law and the Inflation Reduction Act. The focus is on rehabilitating aging traditional infrastructure, considering some ports are over a century old. It is also essential to adapt ports to accommodate larger, modern vessels for both cargo and tourism. Additionally, there has been an increase in green energy projects at the post, with an impressive $50 billion dedicated to various initiatives, including hydrogen, nuclear, and offshore wind energy. Moreover, a $3 billion grant program from the EPA for cleaner infrastructure and operations is set to roll out in early 2024.
22:41 - 27:51 - The Customs and Border Protection (CBP) Space Act aims to secure ports at the expense of customs and reallocate merchandise fees to ensure that CBP has sufficient resources for infrastructure and advanced IT systems, including AI, to identify high-risk cargoes. Also, with the rising cyber risks, ports are undergoing significant digital upgrades and IoT integration to enhance their security.
27:51 - 33:04 - The future of port management depends on finding the right balance between embracing innovation and ensuring security. To reach that balance, ports focus on implementing sustainable fuel options, adopting new IT solutions, and using “cobots” or collaborative robots to improve safety and efficiency.
33:04 - 37:19 - Digital platforms are crucial in transforming the logistics and supply chain industry. To enable efficient sharing of cargo data across different players in the supply chain, ports need to adopt interoperable systems similar to Uber Freight. Currently, there is a lack of unified standards and communication among ports. Therefore, the ultimate aim is to establish a reliable and interconnected digital infrastructure, potentially on a global scale, within the next twenty years.

If you're interested in The Future Of Port Policy & Finance, tune into this episode of "The Future Of", a Podcast by Fresh Consulting.
Subscribe here:

Apple: https://apple.co/3t0hujs
Spotify: https://spoti.fi/3BLB3ja
bCast: https://bit.ly/38yNx3l
RSS: https://bit.ly/3uaCPIB
Instructions on how to rate and review The Future Of can be found here

Episode resources:

Cary Davis: https://www.linkedin.com/in/cary-davis1
American Association of Port Authorities: https://www.aapa-ports.org
AAPA POWERS Program: https://aapapowers.com

Previous Episode

The Future Of Port Innovation

In this episode of The Future Of, host Jeff Dance explores the future of ports with three industry leaders: Paul Matthews, CEO of the Port of South Louisiana; Kristin Decas, Port Director and CEO of the Port of Hueneme; and Shaun Kjar, Director of the Inland Port in Utah. Together, they discuss the challenges and opportunities in the port industry, including sustainability, innovation, and coordination. They Cover:

[00:02 - 16:05] - Port Innovation and Efficiency - Implementing solar panels and transitioning towards energy-efficient facilities is an initiative that can attract customers and reduce costs. The conversation highlighted deepening the river channel, expanding rail access, and improving road infrastructure to enhance port efficiency. Cybersecurity measures are also essential to safeguard assets and information, particularly in an industry representing 25% of the US economy.
[12:16 - 14:05] - Coordination and Collaboration - Stress was placed on the significance of relationships and coordination among terminal operators, trucking companies, railroads, shippers, and other stakeholders to ensure efficient port operations. The Port Authority acts as a facilitator, fostering economic development and bringing various stakeholders together for mutual benefits and efficient operations.
[14:15 - 19:03] - Innovation and Sustainability - Engage with local government authorities help to create infrastructure beneficial for both the port and the local community. Sustainable growth can not happen without community involvement in decision-making processes.
[23:53 - 25:35] - Partnerships and Global Interconnectedness - International partnerships and collaboration between ports are necessary, explicitly referencing the memorandum of understanding with the Ukraine Seaports Authority. This highlights the interconnectedness of ports globally and how collaborations can benefit all parties involved. Ports can come together and share knowledge and strategies to overcome navigational challenges and improve efficiency in port operations.
[25:54 - 27:32] - Workforce Evolution and Challenges - There is a generational shift in the workforce, a "silver tsunami", where experienced individuals retire. To retain the knowledge of the experienced work class while integrating younger generations, the evolving demands and focuses of different ages in the workforce must be considered.
[56:43 - 01:00:59] - Decarbonization and Green Initiatives - The Port of Oxnard is ambitious to become the nation's first decarbonized port. Plans were outlined to achieve a zero-emission footprint by integrating technologies like shore-side power systems and green hydrogen fuel cells. Growth initiatives need to align with environmental sustainability to secure substantial funding and grants.
[01:10:49 - 01:11:30] - Impact on Communities and Education - Kristen and Sean emphasized the rewarding aspects of their work beyond technological advancements. Ports can do more by creating programs to uplift youth, providing educational opportunities, and creating career paths within the port industry. Sean highlighted their involvement with high school students through programs like robotics competitions and global trade and logistics classes, aiming to inspire and prepare the next generation for careers in this field. They also highlighted the positive impact of their work on local communities by creating jobs and contributing to economic development.

If you're interested in the future of port innovation, tune into this episode of "The Future Of", a Podcast by Fresh Consulting.
Subscribe here:

Apple: https://apple.co/3t0hujs
Spotify: https://spoti.fi/3BLB3ja
bCast: https://bit.ly/38yNx3l
RSS: https://bit.ly/3uaCPIB
Instructions on how to rate and review The Future Of can be found here

Episode resources:

Paul Matthews: https://www.linkedin.com/in/paul-matthews-a792129
Port of South Louisiana: https://www.portsl.com
Kristin Decas
Port of Hueneme: http://www.portofh.org
Shaun Kjar
Inland Port in Utah

Next Episode

The Future Of AI for Fintech

In this episode of The Future Of, Dr. Michael Housman, CEO and Founder of AI-ccelerator, and Fernando Luege, Chief Technology Officer at Grupo Financiero Base, join host Jeff Dance to discuss the future of AI in FinTech. They explore the FinTech evolution in the new AI-driven era, how generative AI unlocks new horizons in FinTech innovation, and how FinTech's development enhances human potential.
They Cover:

05:43 - 11:40 - The FinTech Evolution
11:41 - 17:10 - The Unstoppable Rise of Generative AI in FinTech
17:10 - 21:23 - How AI is Redefining the Financial Landscape
21:23 - 27:28 - The Future of Finance
27:28 - 34:10 - How Fintech's Evolution Unlocks Human Potential
34:10 - 36:57 - Innovations and Challenges in KYC, Payment Gateways, and Regulatory Evolution
36:57 - 40:39 - Balancing Innovation and Ethics in Fintech

If you're interested in the future of port policy and finance, tune into this episode of "The Future Of", a Podcast by Fresh Consulting.
Subscribe here:

Instructions on how to rate and review The Future Of can be found hereEpisode resources: