INDUSTRY TRENDS AND THE ROLE OF DATA TODAY

‍

The focus on green shipping is further amplified by increasing regulatory requirements. By 2025, the industry will undergo significant changes with new regulations aimed at enhancing safety and protecting the marine environment. Ships must also comply with the Energy Efficiency Design Index (EEDI), Energy Efficiency Existing Ship Index (EEXI), the Carbon Intensity Indicator (CII) measure, as well as other requirements such as the EU Emissions Trading Systems (ETS) and FuelEU maritime regulation. These evolving standards are pushing the sector to adopt measures that not only ensure compliance but also support the transition to greener practices. Beyond regulatory pressures, there is a strong demand from customers and the wider supply chain for transparency in sustainability efforts. Stakeholders now expect shipping companies to demonstrate their commitment to reducing their environmental footprint, rather than merely hoping for it.

‍

In addition, geopolitical uncertainties, disruptions in global trade, and the rerouting of vessels over longer trading routes make fuel efficiency even more crucial. The ability to optimise fuel consumption is vital not only for reducing emissions but also for ensuring that voyages remain financially competitive in a challenging global landscape. Digitalisation and the industry’s digital transformation are playing a critical role in meeting these demands. The rapid advancement of technology has enabled the collection and analysis of vast amounts of data from ships and ports to improve efficiency. The principle of "what gets measured, gets improved" holds true. The ability to collect, analyse, and act on data transforms how decisions are made in the maritime industry. This includes both operational and technical measures as well as a renewed focus on the human element, which emphasises the importance of a culture that prioritises data-driven decision-making.

‍

In light of increasing pressure to be more efficient, sustainable, and proactive, the need for accurate and real-time data is more critical than ever. Traditionally, noon reports and low-frequency data (LFD) have been used to assess vessel performance. However, low temporal resolution, manual reporting processes, and reliance on local time raises questions about the accuracy of the results derived from such data. Today, this method alone does not provide the quality and frequency of data needed to make rapid and effective decisions that drive a competitive and compliant fleet. Highly accurate data in real-time is needed to help shipping companies optimise their operations, reduce costs, and better navigate the complex challenges of today's maritime environment. As the industry continues to embrace digital transformation, leveraging high-quality, real-time data will be key to staying competitive and meeting the evolving needs of the market.

‍

But despite the limitations of LFD, it is important to emphasise that it is easy to deploy and is the first step in working with vessel data. It enables shipping companies to monitor and benchmark the performance of sister ships and therefore plays a critical role in supplementing data points that cannot be captured by HFD. The combination of LFD and HFD enables the acquisition of real-time insight and a long-term overview for historical analysis and benchmarking.