World News
Shipping Must Improve Data Use to Stay Competitive: New Report
Shipping companies need to improve how they manage operational data or risk falling behind in an increasingly digital and regulated market, according to a new report from Lloyd’s Register (LR) and OneOcean.
The report finds that while ships generate large volumes of data, much of it remains fragmented, poorly structured, or underused, limiting its value for decision-making and compliance, LR said in an email statement on Wednesday.
This is becoming more critical as regulations such as the EU ETS and FuelEU Maritime increase reliance on accurate operational data.
According to the study, shipping’s overall digital maturity stands at 2.1 out of 4, with data standardisation at 2.45, indicating uneven progress across the sector.
Weak data handling often begins onboard, where manual inputs and disconnected systems create quality issues that carry through to reporting and analysis.
The report suggests that better data governance, standardisation and system integration are key to unlocking value.
While improved connectivity and real-time data transfer are advancing, poor data quality could undermine emerging technologies such as AI and predictive analytics.
It concludes that stronger collaboration across the maritime industry will be needed to fully realise digitalisation benefits.
The full report can be downloaded from here.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 1004.50 | 72.00 | 1777.00 | 30.00 |
| Rotterdam | 784.00 | 20.00 | 1193.00 | 14.00 |
| Houston | 806.50 | 28.50 | 1240.50 | 28.50 |
| Fujairah | 1032.00 | 28.50 | 1642.50 | 9.00 |
| Global 20 Ports Average | 1014.00 | 3.00 | 1510.00 | 16.50 |
| Global 4 Ports Average | 907.00 | 12.50 | 1463.50 | 1.00 |
| Global Average Bunker Price | 1012.00 | 3.00 | 1464.50 | 19.00 |
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