Turning a reporting burden into an opportunity
Indeed, in recent years IMO member states have made significant progress towards addressing emissions from international shipping, and in the future we will see a whole new set of data gathering and reporting requirements. That’s why at Eniram we think digital solutions are the key to easing reporting requirements – not just for EU MRV, but to future-proof your operations by ensuring you are ready for upcoming regulations.
Digitalization offers further benefits beyond streamlining reporting. When you have the infrastructure in place to track variables like ship location, trim, and engine performance, the gathered data can be used to improve performance and efficiency – and ultimately, profits.
Digitalization brings unprecedented transparency to shipping because you get data in real time instead of hours or even days after the fact. When this data is enriched with intelligent analysis to provide concrete and actionable insights, you can gain a crucial competitive advantage by using these insights to help reduce fuel use and increase efficiency and asset reliability.
What’s more, the reduction in CO2 emissions enabled by digitalization also allows you to burnish your environmental credentials by reducing your environmental footprint.
The forthcoming IMO fuel consumption data collection system
In parallel to EU MRV implementation IMO has adopted a global approach and prepared a mandatory fuel consumption data collection system for international shipping. Both the EU and the IMO have clear common ambition to reduce GHG emissions from ships, and have mandated processes to achieve their goals but the methods deviate slightly from each other. In practice IMO system applies mostly to the same vessels as EU MRV, but does not limit any special vessels types out on international voyages. Also where EU MRV has distributed the verification power over international privately owned companies, IMO sets this effort to the flag states and recognized organisations nominated by flag state. For the ship owners and operators it means similar kind of monitoring, but different stakeholders on verification process and also who is responsible for data collection.
Now when IMO regulation and first guidelines are taking shape it looks like by complying with EU MRV there is quite a good chance to be successful with the monitoring needs of IMO global fuel consumption regulations needs as well. When monitoring transport work, fuel consumption and distance travelled on international voyages, IMO has quite a much similar aspects as EU MRV. The distinction between these the two regarding on data collection requirements seems to be that IMO utilizes theoretical cargo capacity where as EU MRV utilized cargo capacity and voyages are not berth to berth. Also port visits need to be separated from voyages in EU MRV where IMO is more concentrating on total annual emissions.
Creating value from data
But what if I´m already tuned for EU MRV, what do I need to do? It is quite obvious that investment already put to monitoring systems should be utilized to meet all the needs. Regardless to that it is quite obvious that IMO has tried to avoid setting parallel monitoring system requirement to EU MRV and not to set extra reporting work for ship owners and operators. The existing monitoring systems should be used as efficient and beneficial as possible all the time.
Continuous efficiency measurement enables solid foundation for improvements. The data and insight offered by monitoring system should be seen as valuable decision support material and not just mandatory substance for external reporting. To gain benefits of the system, it is ultimately important to have constant and accurate data feed for high quality analysis.
Who should be interested in data? The EU MRV related data is valuable as such. For shipping companies this enables the possibility to compare different vessels routes against each other. By implementing just a couple of additional monitoring parameters, new opportunities open up for further analysis and thus better decision making in operations. These parameters are dependent on specific needs, but for example enriching EU MRV data with weather data one can take weather routing more close to operations management.
In public discussions there are many questions and suspicions around the future of fuel consumption and emission monitoring. It is obvious that consistent system such as EU MRV offers a foundation for further talks about CO2 trading in maritime business, taxation of CO2, etc. These discussions demonstrate that regulations and reporting open up new possibilities for future development building up on systematic data gathering and utilization processes.
Business Development Manager