Report highlights need for data standardisation
As the shipping industry continues to evolve in response to new regulatory, environmental and economic pressures, the need for standardised data across the marine and offshore sectors has never been more pressing. This change is not just a necessity for compliance, but a strategic imperative for driving the industry forward, writes Opsealog founder and managing director Arnaud Dianoux.Arnaud Dianoux
The white paper Creating Value from Data Standardisation from Opsealog highlights the critical need for data standardisation in the offshore maritime industry, positioning it as a key driver for improving efficiency, compliance, and sustainability.
Standardised data could have transformative potential, not only as a response to growing regulatory and environmental pressures but as a strategic advantage for the entire sector.
“Data that is not standardised is data that is not creating value,” the white paper says, highlighting the industry’s current challenges, where valuable information is often trapped in paper, spreadsheets and emails.
This fragmentation hampers the ability of operators to capitalise on the data they collect, ultimately limiting their capacity to improve performance and meet regulatory requirements.
Data standards define the format and meaning of data elements, and they support a common understanding and exchange of digital information.
For example, when measuring speed, one nautical mile-per-hour (1 knot) is different from one “statute” mile-per-hour, with 1mph being about 15% faster than 1 knot. If those units are confused, this could lead to significant cumulative errors in the data.
Just as English is the international language of shipping and trade that enables people from all over the world to communicate and collaborate, data standards could become the international language of digital communication and collaboration.
Today, seafarers are burdened with the task of collecting and inputting information across multiple formats and reports, often leading to inefficiencies and lost value.
This unsustainable approach not only increases workloads but also fails to leverage the full potential of the data collected. At Opsealog, we believe that data standardisation offers remarkable potential to streamline the data gathering and reporting processes that are currently fragmented and inefficient.
Beyond compliance
The development of data standards will do more than simply ease the burden of meeting regulatory requirements from bodies such as the International Maritime Organization and the European Union.
Standardised data enables operators to benchmark and enhance their operational practices, paving the way for real-time monitoring, predictive analytics, data-driven decision-making and analysis of new fuels.
With consistent data structures in place, shipowners and charterers can monitor key performance indicators like fuel consumption, engine efficiency and emissions with unprecedented accuracy. This data-driven insight allows for the identification of areas needing improvement and the application of targeted interventions. Moreover, predictive analytics can help operators adopt condition-based maintenance strategies, reducing downtime, extending asset lifespans and improving overall operational reliability.
In a more standardised data environment, the maritime industry will experience a new level of transparency.
A common language for data exchange will simplify the bidding process, enhance contractual clarity and improve conflict resolution. Furthermore, as companies face increasing pressure to report their environmental, social, and governance performance, unified reporting standards will provide the tools needed to meet these demands efficiently and effectively.
Moving forward
The global OSV market is expected to expand from US$19.37 billion in 2023 to US$31.10 billion by 2030, with a compound annual growth rate of 7% throughout the forecast period.
During this time, industry-wide data standards must advance swiftly. While their broad adoption will not occur instantly or without difficulties, these standards will drive positive environmental impacts. Every tonne of greenhouse gases prevented from entering the atmosphere benefits everyone.
As the sector grapples with increasing regulatory demands and environmental challenges, the adoption of standardised data practices will be crucial in unlocking operational efficiencies, enhancing environmental sustainability and gaining a competitive advantage.
By embracing this shift, industry players can turn the burden of reporting into an opportunity for growth and innovation. The path ahead may present challenges, but the potential rewards of a standardised, data-driven future are immense and vital for the industry’s long-term success.
Opsealog’s full white paper is available for download here.
