Spinnaker Spotlight: Clementine Matiwaza

We asked Spinnaker newcomer, and Recruiter Resourcer on the Legal, P&I, and Insurance desk Clementine Matiwaza for her thoughts on her first 6 months working in the shipping industry.

What were you expecting from your first few months at Spinnaker?

When I first joined Spinnaker, I was stepping into completely unfamiliar territory in the shipping industry. Despite my experience as a consultant for other legal sectors, I knew little about the specific nuances of the shipping industry. As I embarked on this new role, I anticipated that a significant portion of my time would be dedicated to immersing myself in industry-specific terminology, gaining a deep understanding of various job functions within the sector, and engaging with potential candidates to comprehend their unique skill sets and experiences.

What have been the highlights so far?

The most enriching aspects of my role at Spinnaker have been the opportunities to engage with esteemed clients and to converse with exceptional candidates within the shipping industry. Working alongside an outstanding team on the Legal, P&I, and Insurance desk has been a privilege, and I have received exceptional support from the other recruitment desks, business development, marketing, and the HRC team.

Additionally, I have had the privilege of participating in the social committee, contributing to the coordination of monthly events aimed at expressing gratitude and acknowledging the valuable contributions of our employees.

Lastly, the most fulfilling part has been receiving positive feedback from helping others secure the roles they were seeking. The kind words have not gone unnoticed and motivate me to work even harder for others.

“Clementine (“Clem”) was spot on right from the beginning. She explained the recruitment process with exceptional clarity. From our initial conversation, she provided a comprehensive overview of the job details, including the role’s responsibilities, requirements, and benefits. She outlined each stage of the interview process, detailing what to expect and how to prepare effectively. Clem also clearly communicated the next steps after each interview, ensuring I was always well-informed about the timeline and what to anticipate. Her transparent and thorough approach made the entire recruitment process smooth and stress-free.

I had a highly positive experience with Clementine (“Clem”). From the initial contact on LinkedIn to the final stages of the hiring process, Clem demonstrated exceptional professionalism and dedication. For instance, she maintained clear and timely communication throughout the process, ensuring I was well-informed about each step and what to expect next. She took the time to understand my career goals, skills, and preferences, and matched with a role that perfectly aligned with my aspirations. After each interview, Clem followed up promptly to gather feedback and provide insights, helping me improve and stay positive. Clem’s friendly and personal approach made the entire experience enjoyable and stress-free. Overall, I am grateful for Clem’s assistance and highly recommend Spinnaker to anyone seeking professional and dedicated recruitment services.”

What is the most interesting thing you have learned about the shipping industry?

One of the most fascinating things I have learned is the wide array of ship variations and the different roles they play in various industries around the world. It’s incredible to think about how these vessels, from massive cargo ships to elegant cruise liners and small boats, are an integral part of our everyday lives, whether we see them in our local harbours or encounter them while travelling. I’m particularly captivated by the intricate process of loading cargo onto ships and the immense weight of the goods being transported across oceans to destinations across the globe.

What advice would you give someone looking to move into a sector unfamiliar to them?

First, it’s important to engage in thorough research, speak to colleagues who already work in the industry, and expand your professional network. Putting yourself in situations that push you out of your comfort zone is an effective way to enhance your confidence and fully immerse yourself in your work responsibilities.

Additionally, it’s crucial to maintain confidence in your abilities, understanding that success may not come immediately. It’s a journey that may require multiple attempts, but persistence will eventually lead to achievement.

A bit of Clementine advice would give to others is to do the work and be 100% yourself, let your personality shine and people will naturally gravitate towards you.

Get in touch with Clementine via email or telephone.

Hot Jobs – Top 10 maritime vacancies – July 2024

For over 25 years, Spinnaker has been assisting shipowners, shipmanagers, oil majors, and P&I clubs in fulfilling their maritime recruitment requirements. Every day, we receive a constant influx of new job openings, all conveniently listed on our website. To simplify your job search, we have handpicked a collection of the ten most sought-after positions available right now. Get in touch if you’re interested but do it quickly as they won’t be around for long!

A full list of current vacancies can be found on our website:

Voyage Manager – London, UK

To ensure compliance with the company’s Safety Management System (SMS) under the Safety and Environmental Policy and to achieve the Quality Objectives stated in the company Mission Statement. The Fleet Management Department must contribute to the ships’ performance and customer requirements from both a technical and financial points of view.

View Job – Voyage Manager

Operations Manager – Hamburg or Bavaria, Germany

You will be joining an established and experienced commercial team and take responsibility for the operational management of part of the fleet. MINSHIP’s current fleet consists of 11 handy size bulk carriers on the water plus 3 to be delivered within 2024, as well as 3 MPP’s. Other fleet management disciplines are in-house as well.

View Job – Operations Manager

Operations Manager (Panamax) – Copenhagen, Denmark

We are currently partnered with an international Ship Owner/ Operator that are looking at expansion of their office in Copenhagen by adding an experienced Operations Manager to their team. This role will play a pivotal role in managing the day to day commercial operations of time-chartered vessels and ensuring requirements of the charter parties are fulfilled. The position will require close cooperation with various departments.

View Job – Operations Manager (Panamax)

Commercial Assistant – Dubai, UAE

As a Commercial Assistant, you’ll coordinate various operational processes and manage data. Maintaining regular contact and arrange meetings across company teams. Your responsibilities include preparing reports to summaries operational outcomes and identify areas for improvement in addition to managing logistics such as space/plug coordination, addressing ad hoc customer requests, and providing support during absences.

View Job – Commercial Assistant

Business Development Manager – Singapore

Lead the charge in expanding market presence in Asia Pacific based from the Singapore office. Drive growth, forge lasting relationships, and make a significant impact across maritime communications and digital connectivity. Be the cornerstone of customer relations, maintaining and strengthening connections with our existing clients through regular communication and visits.

View Job – Business Development Manager

Line Manager – Dubai, UAE

You’ll be responsible for the operational efficiency of various services, ensuring maximum yield. As the Line Manager, you’ll take charge of the P&L of all services assigned to you. Management of bunker efficiency and consumption will play a large part in you strategic decision making and analysis. You will have experience of line management in a container line environment, ideally having managed feeder services.

View Job – Line Manager

Financial Planning & Analysis Controller – Lubeck, Germany

An excellent opportunity for a confident individual to work with an international ship owner in Germany, who needs a skilled controller to join their team. You will provide financial insights to the management team through forecasts and analysis. By collaborating with the management team, you will proactively develop analyses to identify risks and opportunities.

View Job – Financial Planning & Analysis Controller

Business Controller, Teamlead – Lubeck, Germany

An excellent opportunity for an outgoing individual to work with an international ship owner in Germany, who needs a Business Controller – Team Lead to join their team. As a Team Lead, you’ll be responsible for overseeing three Business Controllers, servicing the needs of the Fleet and Transshipment projects departments, and acting as the key contact for top management in the Fleet department.

View Job – Business Controller, Teamlead

Senior Panamax Broker – Athens, Greece

Our client, one of the largest shipbroking firms globally are looking to expand their team in Athens and hire a new Panamax Shipbroker. Seeking somebody experienced in the industry already, the role will involve negotiating and securing spot cargoes, allocating contracts cargoes for designated ships; optimising financial outcomes and building strong relationships with clients and partners.

View Job – Senior Panamax Broker

Post Fixture Operations – London, UK

We are currently partnered with an established Greek Shipowner who are on the lookout for a Post Fixture Operator to join their team in London. This is a great opportunity to join a settled team where you would have exposure to both wet and dry cargo sides of their fleet. Prepare laytime calculations etc. for Tanker/Cargo and Container vessels. Liaise with Charterers brokers, and have a good knowledge of the charter parties

View Job – Post Fixture Operator

For more information on any of the jobs above, please email Spinnaker.

View these jobs, and more on our website.

How can I make myself more “marketable”?

Making yourself a marketable candidate in the job market involves a combination of developing relevant skills, building a professional network, and effectively presenting your qualifications.

Further more, practicing your interview skills, researching the company thoroughly, and preparing thoughtful questions can help you stand out during the hiring process. By diligently working on these areas, you demonstrate your commitment to professional growth and position yourself as a competitive candidate in the job market.

Here are some strategies to consider:

Create a Strong Personal Brand

This is not just marketing fluff.

70% of employers use social media to screen candidates during the hiring process and 47% of employers say they are less likely to interview job candidates if they are unable to find them online.

Your personal brand is how you are perceived by others and can influence how they see your value and expertise.
It involves being consistent in your messaging and actions to create a specific, desired impression in the minds of people who interact with you.

Use social media platforms professionally to share industry-related content and engage with others in your field.

Tailor your CV:

The crucial element is to be relevant.

Be relevant to the challenge or the problem. It is quality over quantity. Ensure you highlight your relevant experience, skills, and accomplishments.

“Achieved a 30% increase in annual sales revenue, exceeding targets for three consecutive years. Successfully expanded the customer base by 25%, generating over £500,000 in new business. Implemented strategic sales initiatives that improved client retention rates by 15%, resulting in sustained growth and market penetration. Recognized as Salesperson of the Year for exceptional performance and contribution to team success.”

Don’t just focus just on on the “hard skills” (specific, teachable abilities), give them an idea of who you are as a person and your “soft skills” – communication, teamwork, problem-solving.

92% of talent professionals say that soft skills matter as much or more than hard skills.

“In my previous sales role, I leveraged my strong interpersonal and communication skills to build and nurture lasting relationships with clients, resulting in a 20% increase in customer loyalty and repeat business. My active listening and problem-solving abilities allowed me to identify and address client needs effectively, leading to a 15% increase in upsell opportunities. By fostering a collaborative team environment and mentoring new team members, I contributed to a 10% overall improvement in our team’s sales performance. My adaptability and emotional intelligence enabled me to navigate challenging negotiations successfully, closing deals worth over £250,000.”

Build a Professional Network and Stay Informed

85% of jobs are filled through networking, according to a survey by Lou Adler, a performance-based hiring expert .

Attend industry conferences, seminars, and networking events to meet professionals in your field.

Have meaningful conversations by staying informed, even if they don’t relate directly to you chosen career field.

Staying informed in the maritime industry could mean having an idea about new regulations, technology, safety protocols, or environmental standards.

Professionals who stay updated with industry trends are 52% more likely to be seen as leaders in their field

Experience and Qualifications

Pursue relevant degrees, certifications, and courses that are relevant to your chosen career path, or relevant to the shipping industry.

Gain practical experience through internships, volunteer work, or part-time jobs. You can look to take on freelance projects to build a portfolio and demonstrate your skills as well as work on personal projects that showcase your abilities.

A survey by Upwork found that 59% of freelancers feel that their freelance work has helped them develop skills that were valuable for full-time jobs .

Spinnaker are collaborating with Shipping Strategy Ltd to provide training on Shipping Markets Fundamentals, Market Analysis, Decarbonising Shipping, and ESG.

Feedback and Mentorship

Collect references, recommendations and endorsements from colleagues, managers, or clients.

According to LinkedIn, people with recommendations are 60% more likely to be contacted for job opportunities.

Explaining what you do is not strong enough on it’s own. You need to explain how good you are at doing something. In combination with your CV, other peoples recommendations can emphasise that on your behalf.

Look for someone with experience in your field who has successfully navigated the career path you aspire to follow. A good mentor, or coach can offer valuable advice on industry trends, skill development, and networking opportunities. They can help you set realistic goals, provide constructive feedback on your progress, and introduce you to key contacts in your industry.

By David Tubb, Director, Recruitment

Charity initiatives promoting positive mental health, suicide prevention, and wellbeing for seafarers worldwide

For over 160 years, The Mission to Seafarers (MtS) has been at the forefront of providing essential support and care for seafarers across the world. As Programme Manager, I’ve witnessed firsthand the profound impact of our initiatives in promoting mental health, suicide prevention, and overall wellbeing among seafarers.

Mental health and wellbeing are not just buzzwords for us – they are the lifelines that keep seafarers motivated, confident, and safe. Positive mental health and wellbeing are essential to every seafarer and their fellow crew as they foster confidence, motivation, teamwork, and safety onboard. The challenges faced by seafarers are unique and often daunting. Long periods away from home, physically demanding tasks, and emotional isolation can lead to anxiety, depression, and, tragically, suicide. At MtS, we believe in the power of proactive support, and this belief is at the heart of our newest WeCare initiatives – SafeTALK MtS.

SafeTALK ‘MtS’: Breaking the silence on suicide

Recognising the need for a comprehensive suicide prevention programme, in 2021, MtS adapted the LivingWorks SafeTALK programme, a unique safety course aimed at raising suicide awareness and promoting suicide-safe communities within the maritime sector.

SafeTALK ‘MtS’ is a game-changer in the shipping industry, helping participants become alert to suicide. Delivered in-person by a team of dedicated trainers, SafeTALK is designed with maritime themes to resonate deeply with seafarers and ensure a positive and relatable learning space. It equips individuals to be better prepared to connect those with suicidal thoughts with life-affirming help.

Many organisations may initially view this type of “soft” training as non-essential. However, the skills learned in SafeTALK – such as emphasising open, safe, and non-judgemental discussions around thoughts of suicide, recognising signs, responding appropriately, and connecting at-risk individuals with help – are invaluable both at work and at home.

Essentially, SafeTALK is about creating a culture where the community is ready to help someone save their own life. Talking about suicide is never easy, but it is essential. At MtS, we are committed to breaking the silence. We know there is a high risk of suicide at sea, and it is of critical importance to have informed, confident crew members who can offer support. Isolation, poor connectivity, and limited support networks exacerbate feelings of loneliness among seafarers. Our long history of welfare provision is strengthened by SafeTALK, ensuring we continue to provide the best support possible. It is time to Talk, Ask, Listen, and Keep Safe in our communities, at sea and on land.

Training achievements and impact

I’m incredibly proud of the strides we’ve made with SafeTALK. In 2021, I became a LivingWorks SafeTALK trainer and in 2024 launched the maritime-specific course. During this period, we delivered over 20 workshops across the globe, training 325 people as Suicide Alert Helpers across 58 organisations. An overwhelming 99% of participants were willing to refer others to attend the course – a testament to its relevance and impact, and a remarkable achievement considering the sensitivity of the topic.

During the course, SafeTALK participants learn to notice and respond to suicidal thoughts, recognise often-overlooked invitations for help, move beyond the tendency to miss, dismiss, and avoid suicide, apply the TALK steps (Tell, Ask, Listen, Keep-Safe), and connect at-risk individuals with appropriate help.

The workshops have helped participants feel well-prepared to talk directly and openly about thoughts of suicide. After every workshop, at least two participants personally requested follow-up sessions, either in SafeTALK or the two-day ASIST course, underscoring the deep need for such training.

In recognition of our achievements, SafeTALK was awarded the Safety4Sea Crew Welfare Award in 2023, but the real reward is seeing lives changed and saved. SafeTALK is now the world’s fastest-growing suicide prevention skills training course, with 120,000 people attending a course each year through LivingWorks.

Looking Ahead: Expanding our reach

At The Mission to Seafarers, our commitment to seafarers’ welfare is unwavering. In June 2024, we trained 10 new SafeTALK trainers in our Southeast Asian region. We can already see tangible results as 67 people received suicide prevention training in Hong Kong and Singapore that same month. The success of SafeTALK motivates us to reach even more people. In 2024, we are offering funded, free-to-attend SafeTALK courses in global locations including Hong Kong, Singapore, the Philippines, and the UK, with plans to expand training into India, Japan, and beyond. Private courses are also available to ensure we meet the needs of all seafarers.

By integrating these new trainers and expanding our reach, we aim to ensure that more seafarers, their families and maritime professionals have the tools and confidence to address and prevent suicide, creating a supportive and safe environment for all. SafeTALK stands for suicide alertness for everyone, because we can only create suicide safe communities if we are all willing to be part of the conversation.

For more information, or to join one of our life-saving courses, please contact our training team at [email protected]

By Thomas O’Hare, Programme Manager, The Mission to Seafarers

Benchmarking Shipping Salaries in 2024 – What our clients say

Did you know that every year over 100 companies participate in Spinnakers’ Maritime HR Association salary and bonus survey of shore-side shipping jobs?

The survey represents over 50,000 employees working in the maritime sector globally, and in roles such as Technical Superintendent, Operations Manager, and Head of Chartering.

Spinnaker have been benchmarking shore-side salaries since 2005 and participants include some of the biggest ship owners, ship managers, and oil majors globally.

Francesco Rotundo, Group HR Director at d’Amico Shipping Group said about the survey, “The Spinnaker benchmarks are the only ones relevant to me, due to the wide panel of companies involved.”

There is no other salary benchmarking provider in the market with such targeted and relevant benchmarking data available.

Data collection is currently underway for the 2024 survey with final reports being made available in October.

Salary benchmarking is a way for businesses to compare their pay and benefits with those of their competitors and has many benefits.

Mary McDermott, Head of HR at Navigator Gas tells us that “The Spinnaker reports inform our annual salary review and ensure we remain competitive within the industry at every career level. Such extensive maritime-specific data is not available from any other source. The reports are easy to understand and the Spinnaker team are always on-hand for any queries.”

Stolt-Nielsen are one of the original members and have been participants in the survey since 2007. Donna Price, Global HR Business Partner said that “The benchmarking reports are a good sanity check and give good insights into the shipping industry.”

The importance of salary benchmarking is known amongst HR teams as helping to attract top talent with competitive packages and improving retention by reducing the risk of losing employees to competitors with more attractive packages.

If you’re interested in taking part in the 2024 survey then please contact the team via email and you can find out more on the website.

2024 Seafarer Wage Reports Released!

Since 2005, Spinnaker has been providing salary and bonus benchmarking reports to the maritime industry, offering HR and Crewing teams comprehensive resources for their annual pay reviews.

It all began with shore-based jobs when the ‘Tanker HR Forum’ was launched with 8 founding companies. This group has evolved into the Maritime HR Association, which now boasts 110 members. The association provides salary and bonus data for various roles, including Technical Superintendents, Operators, and Charterers.

Building on the success of the Maritime HR Association, Spinnaker launched the Seafarer Employers’ Association in 2017 to support clients who employ their own crew. This data offers insights into the ‘Daily Wage Cost’ by vessel type, nationality, and rank, helping shipping companies ensure competitive pay and accurately calculate crewing costs as the reports also consider crew rotations.

The survey data has grown annually, and now the data in the survey is representative of 15% of the global seafaring community. There are 11 different vessel type reports, including Bulk, Car Carrier, Container, Chemical, Crude, Product, LNG, LPG, and Cruise, along with several grouped vessel types.

The 2024 reports for seafarers is now available and for more information on accessing these reports, contact us via email, call +44 (0)1702 481 637, or visit our dedicated webpage.

A career in the shipping and insurance industries is fast-moving and fun

Amelia Dunn, Trainee Account Executive at ITIC, speaks to us about her career journey in shipping and professional indemnity insurance.

It can feel overwhelming when embarking on the journey of finding your first job. However, Amelia Dunn, who currently holds the position of Trainee Account Executive at ITIC, believes that maintaining the right mindset and determination can make anything achievable.

Amelia began her career at ITIC in November 2022, when she was appointed Board Administrator. At that time, she was working as a sailing instructor and decided that it was time to find a more “formal” job. With a degree in economics, she asked all her contacts, and a family friend informed her about the administrator position at ITIC. She submitted her CV and was invited for an interview; the rest, as they say, is history.

“My role as the Board Administrator was a steep learning curve, but it was also a fantastic opportunity to immerse myself in ITIC’s business and the maritime industry. Despite my lack of prior experience in the maritime industry and professional indemnity (PI) insurance, I was able to adapt and learn quickly,” shared Amelia.

Although ITIC is primarily recognised for its presence in the maritime industry, it is also active in the aviation, offshore, and energy sectors. While these industries may seem vast and complex at first, they offer numerous opportunities for entry-level employees.

After a year and a half with the company, the trainee account executive position became available. Encouraged by her managers, she applied for it.

Her daily tasks include managing members’ accounts, following up on client renewals, and identifying opportunities for new business development. Amelia is currently responsible for nearly 200 members, and she especially enjoys speaking with insurance brokers and members to gain insights into their respective areas of business.

Currently, she is responsible for the south coast and southwest of the UK, Finland, Sweden, Iceland, and Norway. Even though she is technically a trainee account executive, she is encouraged to be proactive and receives much support from the rest of the team.

“I am excited about the future. Each sector within ITIC provides unique underwriting and contract opportunities, and we try to provide tailor-made solutions to each member. As businesses are unique and different from each other, so is my work, with no two days being the same. There is a lot of career progression, and I am especially interested in the superyacht side of the business,” she added.

In addition to receiving ongoing training from ITIC’s legal and claims department, she is also pursuing her Institute of Chartered Shipbrokers certification part-time.
Amelia stresses the importance of strong personal and organisational skills, as well as the need for effective time management. Being naturally curious and open-minded is also advantageous.

Building connections with people who work in the industry can be highly beneficial for those unsure where to begin when pursuing a career in shipping.

“Shipping is an amazing industry to work in. The most important thing anyone can do is to put themselves out there. Sign up for seminars, interact with people in the industry in person or by using LinkedIn, ask questions, and read extensively. It’s a fast-moving industry and fun to work in,” Amelia concluded.

For more information on ITIC, go to https://www.itic-insure.com/.

Decarbonization is essential; your fleet’s path to achieving it depends on your choices.

Christian Rae Holm, Managing Director of Coach Solutions, emphasizes that IT solutions can foster sustainability, but a positive attitude towards change is crucial.

We help shipping companies use software to understand their carbon emissions and make choices about how to optimise their voyages to create financial and environmental sustainability. We don’t claim that we can save the world; it’s regulators that set the course for decarbonisation.

Increasing vessel efficiency and reducing carbon emissions is daunting but boils down to a simple principle: validated vessel performance data can generate actionable insights for measurable improvements.

Sustainability is not just about protecting the environment but also safeguarding business interests. While shipping focuses on reducing carbon emissions, widespread adoption will only occur if it benefits the bottom line. We provide tools for optimizing operations, understanding that sustainability ultimately lies with our customers.

Effective software tools shouldn’t necessitate costly integration projects. By collecting small amounts of validated data from the crew, we ensure the information is both accurate and useful. This data enables owners to adjust routes and speed to minimize fuel consumption. Despite the greener option of sailing slowly, many owners continue high-speed voyages, either out of habit or because it remains the best business choice when using our tools.

Our aim is to support users in navigating these complex decisions. Having a complete view of the voyage allows for informed comparisons and adjustments. It’s crucial that software solutions cater to operators’ commercial needs, providing valuable insights beyond mere data presentation.

We deliver objective data and analysis, helping owners make informed choices for sustainable operations, balancing financial and environmental considerations. Valid data is essential; without it, opinions are unsupported. Many systems lack proper validation, relying on inconsistent reporting methods.

Achieving a single source of truth for vessel performance requires structured collaboration between owners and charterers. Predictive, trust-based data enhances emission and performance estimates, guiding voyage decisions.

We fully support the agenda of decarbonisation and the need for increases in vessel efficiency and we agree that global legislation is the best way to guide that process. However, we also believe that daily decisions about vessel fixtures are subjective. Most shipowners are compliance-minded; they want to trade and these days that means lower carbon and higher efficiency. For them, it’s about making that decision and having the tools to realise it.

Data dialogue vital for Maritime Energy Transition

Regulation is a key driver when it comes to decarbonising the shipping industry and data is integral to upholding that regulation, writes Helen Barden*, NorthStandard.

The International Maritime Organisation’s (IMO) Greenhouse Gas (GHG) Strategy is to reach net-zero GHG emissions from international shipping by or around 2050, and there are various check points to meet along the way.

Complete and accurate data will be needed to know whether the targets are met, and at MEPC 81, in spring 2024, agreed amendments to Appendix IX of MARPOL Annex VI showed IMO increasing interest in securing more complete data on ship emissions. The amendments will enter into force in August 2025, require the submission of additional data to IMO’s Document Collection System (DCS).

The Carbon Intensity Indicator (CII) Regulations are already heavily reliant upon data, not only to ensure that the attained annual operational CII can be correctly calculated, verified and recorded, but also so shipowners (and charterers) can monitor how the vessel is performing. The calculation also offers guidance on whether the ship’s operation needs to be adjusted to meet the required annual operational CII.

Knowledge sharing in shipping

Any discussion of CII Regulations must acknowledge the problems associated with it, including  the apparent unfairness and inefficiencies which have perhaps watered down their impact. Conversely, new and deeper conversations between owners and charterers about data that have been brought to industry (in part) by these regulations must be seen as a real positive.

It would be fair to say that there is a nervousness from stakeholders when it comes to data transparency and sharing of data. However, the regulations have increased the need for owners and charterers to be on the same page when it comes to the ship’s operational efficiency. The regulations have therefore prompted more dialogue between owners and charterers about data accuracy and transparency, and the sharing of data.

Industry initiatives like the Sea Cargo Charter are encouraging that dialogue, and in April 2022 its expansion to include shipowners now allows charterers and shipowners to monitor and report their emissions under a common framework.

Cost will also always be a driver for shipping and, in this context too, data is proving key. Taking the European Union’s Emission Trading System as an example, emissions are now directly attributable to a cost. As this will, in general, be passed down the charterparty chain and on to the end user, charterers have an interest that goes beyond the cost of fuel itself and includes  reducing their EU allowance cost exposure. The incentive to ensure data accuracy is clear.

Furthermore, with the expected introduction in 2027 of the IMO’s market-based measures – one an economic measure and one a technical fuel standard – the focus on cost will only keep on growing. So too, therefore, will the focus on data truth, transparency and verification.

The true costs of change

Of course, not all costs can be immediately absorbed or passed on as part of the trade when it comes to decarbonisation. The cost of energy efficiency technologies (EET), or alternative energy sources like wind propulsion, may be prohibitive to an owner unless there is cost sharing or financing available. Nevertheless, understanding the savings any given EET or wind technology may provide will require complete and accurate data and analysis.

For owners and charterers, greater consistency of data will be helpful for developing more transparent methodologies to calculate the true impact of EETs.

The framework provided by Poseidon Principles to integrate climate considerations into ship financing also depends upon high quality data and analysis. And for future fuels and technologies, obtaining data, for example from pilot projects, will allow for more informed discussion and fact-based decisions.

Scrutiny of data and data sources will therefore inevitably increase, as a reflection of the critical role transparency plays in realising regulatory, commercial or voluntary objectives. Verification and certification will continue to be imperative, as will the clarity of the frameworks within which the data is being used.

And to get full value from the data captured, collaboration and shared learning amongst stakeholders will be vital to drive the energy transition. Commercial considerations which act as a brake to information sharing must therefore be weighed up against the risk of missing important pieces of the decarbonisation jigsaw because one stakeholder holds on to data that would be useful for another.

Good work is being done by many to get the shipping industry to net zero, but a joining up of data and knowledge will be vital if we are to use it in the timeliest way and for maximum impact.


*Helen Barden, Senior Solicitor – External Affairs, NorthStandard
To find out more about NorthStandard and its work on decarbonisation, visit north-standard.com