Unleashing the power of data to improve operational performance and reduce emissions

Shipping’s status quo and ways of working are transforming around us, as today’s mature technology and the availability of data enables the industry to address the challenges it faces. The new ability to connect teams and align them around commercial and environmental impact has huge benefits for shipping and can allow companies to meet their various targets. Optimisation can yield substantial benefits from a sustainability, profit and performance perspective. Today, many shipping companies are far down the path on their implementation of advanced weather routing, improving reporting, and streamlined bunker procurement. Optimisation and efficiencies will contribute up to 20% of the overall reductions needed for the industry to reach net zero. However, the overall adoption of solutions to enable optimised, more efficient operations and higher performing vessels – for profit and planet – remains slow.

This is largely due to established industry silos and a lack of common data and analysis platforms across the value chain. It’s critical that we collectively establish a pathway that will enable the industry to harness digital technologies and data.

To progress at the pace needed to meet the industry’s decarbonisation targets, shipping companies need solutions that support the realisation of business and decarbonisation goals in the short term, while also preparing and enabling future success. This includes enhancing interaction and collaboration between departments and enabling alignment on commercial, safety and environmental goals, identifying areas where a vessel or voyage can be optimised, charting the best course of action to improve performance, and showcasing results achieved to everyone across their organisation.

Data also holds the key to smarter, more informed decision-making and higher performing vessels. By using data insights to underpin decision-making, strategic goals can be transparently and measurably met in situations where humans would find it nearly impossible to achieve the same results. This is because data is impartial and reveals the true impact and consequences of actions taken to support organisational strategies. Making good use of data can be a true commercial differentiator, driver of impact and a constant ‘anchor’ for sensible business practices. However, data needs to be of high-quality, validated, and standardised to allow the seamless flow of data and information between departments and ensure the right actions are being taken.

Data also needs to be honed and harnessed through the right solutions. Connected platforms can create a shared reality between all stakeholders: ship to shore, operator to charterer, operator to bunker supplier, by providing them with visibility and access to the same data points. This gives them transparency and alignment on vessel activities and goals, and provides a connection point for previously siloed parties, consolidating processes across the maritime value chain into one source of intelligence. From here, organisations can identify focus areas to drive efficiencies that will deliver higher performing vessels, and enable the most sustainable and profitable outcomes to be achieved.

For example, with access to real-time data, masters can optimise their voyages while underway. By connecting ship to shore through one source of truth, both the masters and operators can transparently see the same information, plans and reports. With up-to-date forecasts, masters can decide if routes should be altered to ensure maximum fuel efficiency, that the vessel stays on schedule, and, ultimately, remains safe. This creates a new nexus of collaboration between crew and shoreside staff, elevating the conversation between the two parties and cutting down the number of systems needed to route vessels efficiently and safely. The result is reduced complexity and administrative burden and higher performing vessels.

With the right data-driven solutions, the shipping industry can achieve greater efficiencies, sustainability, profit and collaboration. We can break down the data silos, standardise data and unite teams behind a shared data vision in order to make smarter decisions that maximise performance and make smarter decisions to boost fuel efficiency and cut emissions. Technology can be used to enhance, not replace, human-led decision-making, future-proofing operations and laying the groundwork for a greener, more efficient industry. It’s about doing business, just in a smarter way.