Shipping Industry Launches 2 Common Data Formats To Streamline Fleet Emissions Reporting
BIMCO-led JIWG has released version 1.0 of the OVD and VER frameworks to standardise vessel data exchange, reduce duplicate emissions reporting and improve data consistency across the maritime industry.
Emissions reporting has become a repetitive exercise for many. The same fuel and operational data is passed to charterers, verifiers, software providers, and authorities in different formats, each needing its own mapping and checks. The Tripartite Joint Industry Working Group (JIWG), chaired by BIMCO, has now released version 1.0 of the Operational Vessel Data (OVD) and Vessel Emissions Reporting (VER) frameworks to tackle that problem.
The Tripartite is a forum bringing together shipowners and operators, shipbuilders and classification societies. Both frameworks are voluntary. They create no new reporting obligations, but offer a common approach that companies may adopt to make their data exchange more efficient and consistent.
Operational and fuel-consumption data can be captured once and reused for regulatory reporting, verification and commercial purposes. Common data elements, names, units and structures mean that ships, shipping companies, software providers and verification bodies can interpret the same information in the same way.
The OVD does not prescribe how data is collected onboard, which software is used or where data is stored, so existing set-ups can remain in place. Commercial emissions reporting, such as charter-party performance, ETS cost allocation and FuelEU pooling, can be exchanged in a standard format that includes its verification status. Adoption is voluntary: companies can now consider how the formats fit within their existing systems and processes.
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