The introduction of MRV will create an administrative burden and will not have direct financial benefits for ship owners and operators. A large piece of navigation, performance, fuel and loading data must be administered, combined, and reported to one or more member states. Reporting using numerous spreadsheets will result in a substantial administrative burden. Our estimates show that for the general vessel the annual impact on resources will be around 100 man hours, shared between the crew and onshore resources. On top, there will be large fees for verification, when a company specific solution is chosen.

Transparency and reporting on CO2 and other GHG emissions have a positive perception towards customers. Some large O&G companies are actively requiring certain levels of ‘green’ performance and will push for ambitious targets shortly. At the same time initiatives like the Carbon War Room and, are providing insight in ship efficiency and deliver a fuel savings calculator for customers.

Within fleets, we see a large diversity in bridge systems, engine room systems, and available sensors.

The current data collection in the marine industry is inconsistent, patchy, and sometimes unreliable. Definitions of terminology used in different fields may vary. Data fusion is a challenging step to incorporate a multi-disciplinary dataset. Erroneous data will lead to bad decision-making.

MRV requires individual solutions for each ship. Interoperability is required to implement fleet-wide solutions.