NEW marine repor ts and guides
White paper highlights urgent need for data standardisation in offshore sector
Opsealog has published a new white paper that underscores the urgent need for data standardisation across the sector.
Analysing ongoing industry initiatives in the marine offshore sector, the report found that data standards can play a central role beyond reporting requirements under IMO and EU regulations and will be essential to maximise the value delivered by onboard digitalisation to boost operational and environmental performance.
Titled “Creating Value from Data Standardisation”, the white paper calls for the development and implementation of data standards as a much-needed revolution, comparable to how the shipping container transformed cargo handling in the 1950s. It lays out how this change is already under way through industry initiatives such as the Smart Maritime Council and Energy LEAP, which have both made strides in creating standardised datasets for vessel reporting and emissions tracking, respectively.
The report highlights how a more standardised data environment is an opportunity to bring about a new level of transparency between owners and charterers that will change the bidding process, support the monitoring of contractual obligations, and improve conflict resolution. Furthermore, as companies face increasing pressure to report their environmental, social, and governance (ESG) performance, unified reporting standards will provide the tools needed to meet these demands efficiently and effectively.
Download the white paper at
https://bit.ly/3TPT3U0. Canal & River Trust 2023/24 Annual Report & Accounts published
It was a year of record spend on charitable activity, but one that saw the continued effect of climate change taking its toll on the Trust’s ageing canal infrastructure. The waterways movement came together to raise the profile of the considerable benefits to society delivered by the Trust and its historic canal network following an announcement about future funding cuts by government.
Work to repair and strengthen the resilience of the canal network during the year included almost 450 planned engineering projects, at a cost of around £70 million. Delivering statutory safety measures at the charity’s large reservoirs, critical for navigation and in protecting the communities around them, continued to dominate expenditure, with over £27 million spent on resilience works at 19 of the Trust’s 71 large reservoirs.
Reflecting the continued impact of climate change on the ageing canal network, the Report details how, following prolonged hot dry weather the summer before, a succession of winter storms caused significant damage, with an aggregated impact of £9 million in emergency works.
The rising cost of looking after the Trust’s 2,000-mile canal network is reported, with two years of high inflation significantly pushing up many of the Trust’s maintenance costs. This underscores the challenge presented by the Government grant settlement, announced in July 2023, with steep funding cuts to be applied from 2027. Coming after a six-year period when the grant has been frozen (and hence its value has already fallen by over 30% in real terms), the Trust reports that this presents a very challenging prospect, putting the future of the canal network in jeopardy.
Richard Parry, chief executive of the Canal & River Trust, comments: “A key part of the Canal & River Trust’s long-term plan is to continue to reduce dependency on government funding by further developing and growing alternative sources of income. During the year ended 31 March 2024, our commercial income was £97.1m, 12.2% higher than in the prior year. It now represents 41.0% of our total income (2022/23: 38.1%).”
Click to download the accounts at
https://bit.ly/4eFMbRl. THE REPORT | DEC 2024 | ISSUE 110 | 49
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