Like many industries, shipping currently faces numerous notable challenges, but a recent research report on behalf of DTN revealed longer-term priorities. Non-regulation-driven carbon emissions, decarbonization regulations, and digitalization topped the list of the most significant pressures, according to participants.
“Ship owners and operators must continuously improve the efficiency and environmental performance to adhere to the compliance policies.”
Director, Performance management
To better respond to these challenges, many organizations are turning to vessel performance monitoring platforms, unlocking rich datasets that can help drive greener, more profitable decisions.
Until relatively recently, direct integration of such data into decision-making tools was not the standard, despite the considerable impact of vessel performance information on many aspects of shipping operations and the global supply chain. Typically, it was part of broader digitalization projects, which tend to be complex, time-consuming, and costly.
However, the increased availability of SaaS platforms is changing this dynamic, allowing shipping organizations to accelerate their digitalization journeys and integrate vessel-specific data into their performance and fleet management solutions. Now, the same levels of integration can be achieved without such high investment costs — making vessel performance and monitoring more accessible, allowing the broader industry to benefit.
Here are three areas where vessel performance data can provide critical competitive advantages.
1. Better informed decisions
Services that deliver quality-checked operational data — including weather and AIS data — and seamlessly integrate with other solutions can support more advanced decision-making. And while there are many potential criteria for measuring data quality, the most important are:
Does the data accurately represent real-world conditions?
Does the data fit its intended purpose?
It’s important to note data can meet one criterion but not the other. For example, if a vessel bunker or track master data record is fit for creating a report, it may be suitable for that purpose. But what if the data is incomplete, incorrect, or not continuous? Probably not. On the other hand, the recorded data can be complete and continuous but lack sufficient depth or detail needed to provide the level of insight required for an informed decision. Both cases can lead to misinformed decisions and potential business problems.
2. Support of green initiatives
New technologies for greener shipping is this year’s World Maritime theme, “reflecting the need to support a green transition of the maritime sector into a sustainable future, while leaving no one behind.” But before you can plan for the future, you must first recognize your current position. Ship operators require up-to-the-minute data on emissions to determine whether they have some leeway or need to cut immediately. As new regulations come onboard and operators adjust their strategies, this level of understanding is invaluable.
The shipping sector’s regulation changes make it increasingly vital to manage vessel performance, not just track it. For example, the CII regulation means performance must improve by specific percentage points each year. Vessel operators must balance their goals of maximizing performance and profit with their obligations to comply with emissions regulations. Besides day-to-day rules around greenhouse gas (GHG) emissions, the maritime industry is also working towards upcoming IMO 2050, CII, and EU ETS regulations.
3. Improved benchmarking
All shipping operational data needs benchmarking against weather data for fair comparisons. Performance benchmarking is an essential step in improving a vessel’s operating performance. The process provides information on how the ship’s as-built performance characteristics compare and whether further consideration should be given to retrofit solutions to enhance energy efficiency.
For vessels in service, accurate performance information is often lacking. As a foundational requirement, this means high-value, quality-checked data complemented by pinpoint-accurate weather data. This standard ensures access to excellent data as an asset for basing decisions and advanced analytics. Benchmarking generally allows ship owners and managers to identify energy-saving opportunities and make informed choices, from design to operation.
Build a better performance platform
Download our new guide to learn how quality-checked vessel data can fuel custom performance and monitoring platforms.
Offshore operations are carried out in remote hazardous areas. Yet, their efficiency has a direct impact on the whole shipping industry’s profitability, safety, and environmental sustainability. It is therefore essential...
In a terrifying incident caught on video, two people fell overboard during a personnel transfer to the USNS Comfort. This Navy hospital ship stopped off the coast of Haiti in...
If you answered yes to any of these questions, you are not alone. With 1 out of every 6 ocean invoices being incorrect, this presents a huge challenge in terms...
February 17, 2023
Total Views: 4211
Sign Up Now for gCaptain Daily
Just enter your email and get hot news every morning
SIGN UP
Get the latest gCaptain articles and breaking news
Sign up for gCaptain Daily
Get the latest gCaptain articles and breaking news
We use cookies on our website to give you the most relevant experience. By clicking “Accept”, you consent to the use of ALL the cookies.
This website uses cookies to improve your experience while you navigate through the website. Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may affect your browsing experience.
Necessary cookies are absolutely essential for the website to function properly. This category only includes cookies that ensures basic functionalities and security features of the website. These cookies do not store any personal information.
Any cookies that may not be particularly necessary for the website to function and is used specifically to collect user personal data via analytics, ads, other embedded contents are termed as non-necessary cookies. It is mandatory to procure user consent prior to running these cookies on your website.
{"Tags":["dtn","sponsored post"],"Categories":["Sponsored"],"Excerpt":"Like many industries, shipping currently faces numerous notable challenges, but a recent research report on behalf of DTN revealed longer-term priorities. Non-regulation-driven carbon emissions, decarbonization regulations, and digitalization topped the list of..."}