Data standardization key for industry to harness the power of digitalization, report shows

Data standardization is urgently needed in the offshore maritime industry to accelerate the value delivered by onboard digitalization and boost operational and environmental performance, a new white paper found.

Analyzing ongoing industry initiatives in the marine offshore sector, the report titled “Creating Value from Data Standardisation” found that data standards can play a central role beyond reporting requirements under IMO and EU regulations.

The white paper published by French performance management company Opsealog calls for the development and implementation of data standards as a much-needed revolution, comparable to how the shipping container transformed cargo handling in the 1950s. It lays out how this change is already underway through industry initiatives such as the Smart Maritime Council and Energy LEAP, which have both made strides in creating standardized datasets for vessel reporting and emissions tracking, respectively.

Despite these early examples of progress, the research describes persisting fragmentation as a key obstacle, with much of the data currently collected in the shipping and offshore sector not currently creating value due to a lack of standardization. It also identifies the need for common formats as critical to reducing seafarer workloads amid growing reporting requirements.

The report also highlights how a more standardized data environment is an opportunity to bring about a new level of transparency between owners and charterers that will change the bidding process, support the monitoring of contractual obligations, and improve conflict resolution.

Furthermore, as companies face increasing pressure to report their environmental, social, and governance (ESG) performance, unified reporting standards will provide the tools needed to meet these demands efficiently and effectively.

“Data standardisation is about more than compliance: it is an essential baseline for the industry to fully harness the power of digitalisation. 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 can become the international language of digital communication and collaboration,” Arnaud Dianoux, Founder and Managing Director at Opsealog, commented.

“This is an opportunity not to be wasted, especially as the industry faces growing ESG pressure and new regulatory requirements. Data standards will be the building blocks to enable companies to collect, integrate, and make sense of their data. This paves the way for real-time monitoring, predictive analysis, data-driven decision-making and new fuels analysis, enabling owners to build strong businesses for the green and digital era ahead.”