INTERTANKO partners with DNV Veracity to streamline emissions data sharing

On August 19, 2024, trade association INTERTANKO revealed a partnership with DNV’s industry cloud platform Veracity, supporting the tanker industry in its decarbonization efforts.

As reported, the partnership could make it ‘easier’ for tanker operators to share their emissions data with DNV Veracity directly with external stakeholders. This effort, in turn, could lead to a reduced administrative workload.

In light of the collaboration, Executive Director of Veracity by DNV, Mikkel Skou, stated that ‘verified emissions data is becoming increasingly crucial for commercial settlements.”

“We have prebuilt plug-and-play secure data integration ready for our customers to use. No IT project is needed for customers to automate their operation,” Skou added.

As a reminder, just last year, DNV’s Veracity teamed up with Høglund Marine Solutions to ‘enhance emissions reporting efficiency’. This collaboration focused on integrating automation solutions and vessel data—a move expected to promote transparency, sustainability, and innovation in the maritime industry.

For the maritime industry, the year 2024 has brought in certain regulatory changes—one of them being the EU Emissions Trading System (EU ETS). This scheme requires operators to monitor and report emissions to comply with the new standards.

The EU ETS mandates large ships of 5,000 gross tonnage and above to account for their emissions when arriving at or departing from EU ports. This scheme is phased out, starting with 40% of emissions in 2024. Then, it’s supposed to increase to 70% in 2025 and reach full scope 2026 onward.

Accurate, verified emissions data is not just key for commercial settlements under the EU ETS. They are also vital for the implementation of the Carbon Intensity Indicator (CII), as well as overall operational efficiency, requiring real-time verification of emissions data.

 In the context of INTERTANKO and DNV’s Veracity partnership, Tim Wilkins, the Deputy Managing Director at INTERTANKO, emphasized that the newly forged partnership would enable DNV verification customers ‘to share their data with INTERTANKO easily and eliminate the need for multiple reports to several different entities’.

“The collaboration enhances INTERTANKO’s data analytics tools allowing Members to compare their fleet with the industry or internally across various parameters such as CII, annual efficiency ratio and fuel consumption.”

Put shortly, with DNV as their verifier, operators may be able to share their data in what’s described as ‘one secure and automatic data stream’.

In addition, according to a statement by Caterine Vestereng, SVP & Global Segment Director at DNV, to ‘support DNV’s tanker customers in their daily challenges’, the company is set to work closely and continuously with INTERTANKO within all technical, regulatory and safety concerns going forward.

“We are proud to be able to set up this connection and reduce the administrative burden for our tanker customers.”