A recent survey by Houlder shed light on a crucial issue: the scarcity of relevant operational data is hampering the maritime industry’s ability to make sound investment decisions, especially when it comes to adopting innovative technologies. To transition towards a lower carbon future, shipowners must shift from quick fixes to a strategic, long-term approach that includes detailed evaluation of performance data, assessment of new technologies, and detection of fleet-wide trends.
Data: The foundation for decarbonisation
Accurate performance data is not just a tool, it’s a foundation for fostering trust between shipowners and technology providers. When data is shared transparently, it enhances credibility for tech providers while giving shipowners confidence that they are investing in the right technologies. Ultimately, this data-driven approach ensures that sustainability goals are met, while also aligning with operational realities.
In today’s competitive maritime landscape, where decarbonisation has become a central focus, the use of efficiency technologies like low or zero-carbon propulsion systems (fuel cells, batteries), and energy-saving innovations (Flettner rotors, wing sails, and waste heat recovery systems) offers immense potential. However, for these technologies to be widely adopted, they must prove their worth through performance data that reflects real-world usage and operational demands.
Beyond compliance
As regulatory frameworks evolve, economic factors increasingly support clean technology investments. The European Union’s Emissions Trading System (EU ETS) and FuelEU Maritime have introduced significant financial incentives and penalties for greenhouse gas (GHG) emissions, making it clear that decarbonisation is not just an environmental necessity but a business imperative. Moreover, the International Maritime Organization’s Carbon Intensity Indicator (IMO CII) emphasises the need for efficiency improvements to secure better ratings and more favourable commercial agreements.
This changing landscape means shipowners must look beyond short-term paybacks, often calculated purely on fuel savings, and consider a broader financial case for sustainability. Every new investment decision in technology must now consider both current regulations and future requirements, making the integration of accurate data and robust analysis more important than ever.
Spoilt for choice
While many efficiency technologies show promise, choosing the right solution requires careful consideration. It’s not enough to select technologies based on general trends – ship-specific factors like route, cargo, speed, and fuel type are essential. Only by assessing the real-world performance of a ship across its duty profile can shipowners make informed choices that align with their operational goals.
However, the challenge often lies in the availability and relevance of performance data. Not only may technology providers be hesitant to share full data sets, but their projections and strategies for estimating benefits often vary, making direct comparisons difficult. This is where independent expertise becomes crucial. By bridging the gap between differing technology provider projections and shipowner requirements, independent advisors can ensure that decisions are based on data that accurately reflects the vessel’s performance and potential.
The data-driven road ahead
The maritime sector is at a pivotal moment in its decarbonisation journey. Efficiency technologies will be key to reducing emissions and operational costs, but their true potential can only be unlocked through precise, data-driven evaluation. Collaboration between shipowners, technology providers, and experts is essential to build the trust needed for long-term, sustainable investments.
Moving forward, the industry must prioritise transparency and data sharing to make informed, strategic decisions. The ultimate goal is not just compliance with tightening regulations, but the comprehensive transformation of maritime operations towards a future of zero-emission shipping. By embracing a holistic, data-focused approach, the industry can ensure that decarbonisation becomes a reality, benefiting both the environment and operational performance alike.
Source: By Iebum Shin, Data Analytics Lead at Houlder
