ABS: Digitization is the salvation of shipping

Digitalization of Global Shipping: Maritime Single Window (MSW)

The shipping industry is setting its sights on efficiency. Thanks to internal corporate social responsibility (CSR) initiatives and external pressures from regulatory agencies, fleet operators are beginning to take action to reduce fuel consumption, improve reporting and transform travel to meet compliance goals. decarbonization established by the United Nations Global Compact and the OMI. Digitization is the path to salvation for maritime transport, says the American Bureau of Shipping.

The guidance from both organizations is incredibly optimistic, pointing to significant emission reductions by 2030 and 2050, respectively. With an estimated 33% of legacy ships expected to fail to meet UN guidelines when they come into force in 2023, bringing fleets up to speed will not be easy, especially as the next generation, cleaner fuels and optimized ship designs operators are counting on. in transforming its operations are still on the horizon.

As such, companies are turning to digitization as the first step on their journey to zero carbon.

These systems help operators tap into the true goldmine of data that day-to-day operations provide to gain insight into how their fleets are operating and how they compare to looming emissions regulations. They can help build emissions profiles, monitor environmental categories, and generate reports that guide decision-making. They are a boon to operators looking to dive head-on into the decarbonization process, but they can also do much more than that.

Connected fleets, connected operations

There is no nice way to say it. Most fleets are stuck in the past, and that means they’re losing valuable data. While other industries have embraced digitization, maritime operators have let these data points disappear. Of course, this was initially a product of the complications of monitoring vessels at sea and turning that data into actionable information. But now? It’s just the norm.

In fact, many operators are surprised to see how digitization is transforming the way they do business. The data lake created from the day-to-day of a business can provide a powerful point of contact to guide decision-making at all levels.

Investing in a way to capture information about historical and current trends within operations often reveals opportunities for improvement across the business. Information about trip status or route deviations can help inform future trips. Insights into fuel consumption, performance speed, and time loss control can be integrated to provide profiles that illustrate how a fleet compares to baselines and industry competitors.

Perhaps most compelling for traders are the predictive powers that come with data collection. Once a fleet is connected and monitored, various data sets can be integrated, analyzed and applied to model the effects of decisions across the fleet. Along with predictive and prescriptive reporting, crew members and leaders get a holistic view of what’s happening at sea and on land.

Instead of making decisions based on gut feelings rather than conventional wisdom, leaders and team members can visualize the results, compare the impacts of their decisions, and use verifiable metrics to back up their views. It develops organizational intuition based on past results, predictive modeling capabilities, and objective assessments of external factors that may affect the situation. The result is more informed decision-making, better results, and visibility into the reasoning of decision-makers.

The power of data

We are in an era of tailored solutions and data-driven business, and maritime industry players resisting digital transformation now risk being left behind. Whether a company is striving to achieve net zero, meet upcoming emissions guidelines, or optimize operations to drive business goals, information is the most powerful tool at its disposal. Without a digitized fleet, that business is leaving valuable information on the table.

These systems become a company’s single source of truth, monitoring performance, trip status, and equipment to provide decision-makers with a holistic view of their operations in real-time and information on how similar situations have occurred. in the past. They help break down traditional data silos to empower all departments with the information they need to innovate and curate excellence.

Source: Paul Sells is Global Director of Digital Solutions at ABS (American Bureau of Shipping)

Source The Maritime Executive

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