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Horizons article 14 April 2021

Change brings opportunity

  • Maritime energy transition
  • Digital transformation
Issue 57

Seeking the right path for business benefits from change.

Portrait photo of Amy Deeb, Intermediate Engineer, Lloyd's Register Central & South

Andy McKeran

Chief Commercial Officer, Lloyd's Register

A year of incredible, unimaginable disruption has made everyone look again at what they do, and how they do it. It has also made us reappraise how we might approach the road ahead.

We are in an age of constant change given the increasing challenges around efficiency, sustainability and safety, but this is also an era of new opportunity, particularly if the right decisions are made. Finding the path to efficiency, in a complex and regulated industry is never easy. It requires a combination of technology and expertise. That’s what Lloyd’s Register’s Maritime Performance Services business aims to offer; trusted advice, backed by technological prowess, to help industry stakeholders navigate the challenges ahead. And one of our immediate areas of focus is the impact of the imminent Energy Efficiency Existing Ship Index (EEXI) and what operational carbon intensity reduction requirements could mean for fleets in the future.

Environmental regulations focused on shipping’s decarbonisation are also helping to accelerate digitalisation. Owners are more engaged with keeping track of fuel consumption and vessel performance and the growing use of sensors and other data collection technologies to gather quality, real-time information is increasing efficiency, reducing operating costs as well as emissions.

Furthermore, by aggregating siloed data and using analytics, data solutions can provide insights and outcomes to owners and operators to help reduce their overall operational expenditures, maintain their individual competitive advantage and provide the transparency needed for environmental reporting.

Throughout the pandemic we have seen many organisations with a technology gap struggle to adapt to the changing circumstances. Many have worked hard to rectify such shortcomings.

So, technology is now front and centre, but it relies on the right interpretation of data, through human expertise and understanding, built on experience of our industry. When certainty is scarce, a trusted guide is vital; this is why LR is expanding its portfolio of fleet management and fleet optimisation services. We want to help you unlock and drive growth.

Two workers on a ship look towards another ship.

Hope springs forth