Event

You're invited to our Your FuelEU Roadmap: From Planning to Commercial Strategy to Pooling April 29, 2025

See you there! More events >
X
OceanScore applying AI-powered data technology to benchmark ESG performance and tackle EU ETS challenges for shipping - OceanScore
< Back to Insights
data technology
EU ETS
maritime data
maritime operations
shipping

OceanScore applying AI-powered data technology to benchmark ESG performance and tackle EU ETS challenges for shipping

March 18, 2025

OceanScore applying AI-powered data technology to benchmark ESG performance and tackle EU ETS challenges for shipping

The accelerating trend towards sustainability in shipping is being driven not only by regulatory requirements but also competitive pressure. And the ability to benchmark fleet performance against key ESG metrics will be a vital factor for future commercial success in an increasingly green-focused market, according to maritime data and technology firm OceanScore.

 

“While many shipping companies are promoting Environmental, Social and Governance (ESG) strategies to raise their profile in the market, this needs to be supported by reliable, trustworthy and transparent data that enables stakeholders to make commercial decisions based on actual fleet performance,” says Albrecht Grell, co-Managing Director of OceanScore.

 

Whereas price and profitability have previously been the key determinants of charter awards, financing and investments, ESG data represents the new green currency that will determine value creation for shipping companies going forward amid stricter regulations and commercial pressure, Grell believes. 

 

“There are increasing demands from banks, financial institutions and investors for ESG data to inform their decision-making as well as from charterers and cargo owners, underpinned by market initiatives such as the Poseidon Principles for banks and Sea Cargo Charter for bulk ship charterers geared to decarbonising the entire supply chain of shipping,” he says.

 

Trustworthy and transparent data

Recognising this need, Hamburg-based OceanScore has built a digital platform that monitors the performance of the entire global fleet of 125,000 commercial vessels, enabling diverse industry stakeholders to benchmark ship operations against sustainability goals.

 

The AI-powered platform uses proprietary engineering algorithms and advanced regression models to analyse data from multiple sources, including MRV and other reported vessel data.

 

As well as comprehensively tracking emissions (CO2, SOx, NOx and PM), the platform records a further 50 ESG scores around vessel safety and reliability, environmental performance and adherence to the United Nations Sustainable Development Goals (SDGs). These include, for example, wage levels for crew and vessel safety incidents.

 

Grell says OceanScore is working with Scope Ratings, Europe’s leading ratings agency, to provide independent validation of its scores. “This is part of the platform’s transparency policy to ensure objective, unbiased and high-quality data that can be trusted,” he explains.

 

Therefore, its data provides a sound basis for decision-making for ship managers, cargo owners, ports, banks, investors, insurers, P&I clubs and other stakeholders. The platform is also designed to facilitate collaboration and data-sharing among industry players, providing a single source of verified data visible to all parties for tracking vessel and ship managers’ sustainability.

 

Strong investment backing

“This makes OceanScore a one-stop shop for stakeholders such as ports that need to determine the emission levels of multiple vessels from different ship owners and managers or cargo owners that need to assess the carbon footprint of different fleets to ensure they remain within their sustainability targets,” Grell explains.

 

OceanScore recently gained a strong endorsement for its solution with an oversubscribed seed funding round that saw several high-profile investors commit capital for expansion of the platform, including global container shipping giant MSC as well as Döhle Group, the Schoeller family (shareholders in Columbia Shipmanagement and Scope Ratings), TecPier and Israel’s theDOCK.

 

MSC’s Group President Diego Aponte says: “We have decided to leverage OceanScore to provide better visibility on the environmental and broader sustainability performance of ships in our fleet.” 

 

New investor theDOCK’s Nir Gartzman says: “OceanScore’s analyses are predicated on advanced data science and deep engineering expertise to provide effective decision-support tools to optimise sustainable fleet management. This gives us a high level of confidence in its solution.” 

 

Heavy financial risk from EU ETS

Grell says a major concern for the industry is implementation from next year of the EU Emissions Trading System (EU ETS) for shipping that will impose a higher level of emissions accountability for companies extending beyond annual reporting under the existing MRV regime, with the risk of heavy financial penalties or even expulsion from EU trading in the event of non-compliance.

 

This means shipping companies will be required to acquire and trade so-called EU Allowances (EUAs), or carbon credits, to cover the cost of their emissions in a given year, which could leave them with huge financial liabilities given a current market price of around €90 per tonne of CO2 emitted.

 

OceanScore’s co-Managing Director Ralf Garrn explains the regulation poses issues such as how to accurately monitor emissions, how to acquire and trade EUAs, which trading platform to use, how to achieve the best price, how many EUAs should be purchased and who should pay for carbon credits.

 

“With the clock ticking to implementation of the EU ETS, shipping companies need to understand the practical implications and initiate efficient systems to address these issues and ensure compliance. A solid monitoring solution, properly covering the many different options to deal with the ETS regime, is a necessity given the complexities of shipping and the ETS regulation,” he said.

 

Emissions management and trading solution 

Therefore, in a further evolution of the platform, OceanScore has now launched an integrated solution that enables ship operators both to manage emissions liabilities and trade carbon credits under the impending EU ETS regime for shipping.

 

The web-based ETS Manager is designed to manage and monitor the entire process from automatically ingesting vessel operational data, assessing the need for EUAs, allocating them to owners or stakeholders, requesting and accounting for them, and tracking open positions. 

 

It incorporates the advanced trading tool EUA Trader, powered by RWE Supply & Trading, to buy and sell EUAs, which is also available as a standalone application.

EUA Trader tracks the market price of EUAs and facilitates buying and selling of carbon credits on the RWE Supply & Trading platform through a simple operation that is fully integrated into OceanScore’s ETS management platform, with the ability to buy incremental volumes as needed and forward trading flexibility to hedge the risk of price changes.

 

Grell says the ETS Manager is rapidly gaining traction among both European and non-European clients ahead of the three-year phased implementation of the EU ETS from 1 January 2024, with OceanScore investor Döhle Group among several pilot customers.

 

“The industry faces a major challenge to navigate the complexity of the new regulation and mitigate financial risk due to the requirement to purchase carbon credits to cover the cost of emissions, which will reach €8 billion or more annually,” he says.

 

“The interplay between owners, managers and charterers creates significant complexities unique to shipping and poses potentially significant risks, especially for ship managers, if not managed properly. Excel alone will not be sufficient to maintain transparency and control of these processes.”

 

Grell says OceanScore’s comprehensive solution, with a high level of automation to reduce administrative workload and possible issues with wrong data entries, is geared to “simplifying complexity” for shipping companies to help them navigate the difficult path to EU ETS compliance.

 

“Harnessing the power of new AI-driven technology to process vast volumes of vessel data will be vital to enable shipping to meet market and regulatory challenges in the relentless green shift for decarbonisation of the industry,” he concludes.

 

About OceanScore

OceanScore is a Hamburg-based provider of sustainability data and compliance solutions with a strong maritime background. The company offers a range of ESG solutions tailored to the industry’s unique needs.

 

Contact information:

Albrecht Grell, co-Managing Director, OceanScore.

Email: albrecht.grell@oceanscore.com

 

< Back to Insights

Oceanscore in the news

View all
  • March 6, 2025

    OceanScore has the answers to the maritime regulatory conundrum

    The maritime sector is facing increasingly stringent regulations aimed at reducing emissions, with FuelEU Maritime and the EU Emissions Trading Scheme (EU ETS) taking centre stage. OceanScore, a company providing compliance solutions, is offering innovative ways to help shipping companies meet these challenges and optimise their compliance strategies.
    Read article
  • January 8, 2025

    OceanScore to launch combined EU ETS and FuelEU solution in Singapore

    Hamburg-based technology platform OceanScore will introduce the Compliance Manager, its new solution that will help effectively manage FuelEU Maritime Regulation and EU Emissions Trading System (EU ETS) on one platform, in Singapore. Albrecht Grell, Managing Director, and Leo Grayson, Head of Commercial, APAC, will discuss the FuelEU regulation in depth, what it means for Asian players, and best practices and strategies for efficient compliance. The event will be held from 3 to 5pm (Singapore time) on 23 January. The venue of the event will be at OceanScore Singapore, c/o Blue Net Chartering Asia Pte. Ltd., 20 Cecil Street, PLUS, #24-02.
    Read article
  • December 5, 2024

    OceanScore reviews the first year of EU ETS: what have we learned and what lies ahead?

    OceanScore says many shipping companies struggle to track whether invoices have been accepted, EUAs delivered or payments made without a centralized system. OceanScore client Hammonia Reederei states: "As a high-quality third-party manager, transparency is at the core of how we work with our customers - no hidden charges, no hidden fees. Managing ETS exposure across multiple owners and charterers is a complex task, but OceanScore's ETS Manager has made it efficient and straightforward. Their solution not only streamlines our processes but also helps us provide clear, transparent cost breakdowns around ETS compliance to our customers, reinforcing our commitment accountability to trust and accounting. Looking ahead, Grell says "temporary solutions may suffice for now in tackling some of these challenges, but they are not sustainable long-term", especially with implementation of FuelEU from next year that he believes will amplify pressure for automated data-driven systems to cope with the complexity. "The lessons from these challenges highlight the need for systematic, scalable solutions to manage emissions compliance effectively, ensuring long-term success under the EU ETS framework. The growing need for robust tools is clear. Transparency, efficiency and collaboration across stakeholders will be crucial to tackle the challenges ahead," he concludes.
    Read article
  • December 2, 2024

    UK eyes expanding its ETS to deepsea shipping – closing EU loophole

    Apart from the hit to the EU’s decarbonisation goals, OceanScore MD Albrecht Grell said the UK loophole would tie-up ship capacity, inflate freight rates and could cause disruption as carriers queue up at UK ports. “We need to consider that UK ports do not have the capacity to handle significant increases in throughput, so more port congestion, time lost, would have to be considered,” he said. Mr Grell added that he did not expect the loophole to last for long at any rate, as the EU is planning to review its ETS from 2026.
    Read article
  • November 29, 2024

    OceanScore reviews BIMCO FuelEU clause for time charter parties

    The current BIMCO draft provides a foundation but leaves substantial room for improvement and charter party specific clarifications, said Hamburg-based technology platform OceanScore on Wednesday (27 November). OceanScore added it is already working with customers to implement forward-thinking FuelEU strategies that fill these gaps, supporting smart decision making and efficient processes between the different stakeholders.
    Read article
  • November 14, 2024

    OceanScore supports tricky bunker selection process under FuelEU Maritime

    “Fuel selection is the most important lever under FuelEU,” said OceanScore Managing Director, Albrecht Grell. “Your choice of fuel can either create a surplus or a deficit in your compliance balance, directly affecting your costs.” Grell added: “Choosing the right fuel can help avoid penalties and even create revenue by pooling surpluses. But not all alternative fuels are the same, and their viability often depends on future pooling prices, which are hard to predict.” FuelEU charts a course for reducing emissions in shipping, with a target near net-zero by 2050. For now, two main options are available to meet the greenhouse gas (GHG) threshold of 89.3g CO2e/MJ until 2029: LNG and LPG: These fuels, when used in dual-fuel engines, will meet the rules and can generate surplus compliance balances. However, their benefits will decline until 2040 as limits tighten. Biofuels: These are a good option for most vessels. They are usually used in blends (eg. B20-B30) with conventional fuels. These blends will be compliant until 2040; higher blends or pure biofuels will be needed thereafter. One issue is that EU ETS and FuelEU Maritime treat biofuels differently. Under EU ETS, biofuels are considered zero-emission, meaning companies do not need to buy carbon credits. But under FuelEU, the rules are stricter. “FuelEU doesn’t count all biofuels equally,” Grell explained. “Fuels made from food or feed crops are treated like conventional fuels in terms of emissions. Only waste-based biofuels are fully compliant, and even then, their specific GHG values are above zero.” This difference matters. Standard biofuels, such as those from rapeseed or sunflower seeds, still benefit from ETS discounts but fall short under FuelEU. For full compliance, waste-based biofuels are needed, such as those from used cooking oil or animal fat. Further complications are added when considering the different rules behind the 50% discounts applied to voyages to and from the EU under the two regulations. OceanScore, which provides advanced solutions to facilitate efficient regulatory compliance, is assessing the impact of alternative fuels based on their relative carbon intensities, calorific values (LCVs), prices, and ETS cost incurred, reflecting these in its FuelEU Planner. The challenge goes beyond selecting fuels with low GHG intensity and factors such as the vessel's ice class or whether voyages are intra-EU or international also influence compliance balance. If companies bunker more expensive alternative fuels like biofuels, there is no guarantee it will always pay off. “FuelEU allows for pooling of compliance surpluses and deficits,” Grell added. “Surpluses generated by using compliant biofuels can be sold in the compliance market to vessels in deficit.” OceanScore’s analysis indicates that the compliance market will be in surplus by 1 January 2025. “This surplus will put downward pressure on pooling prices, meaning it might be cheaper to buy a compliance surplus in the pool rather than generate it through compliant bunkering on your own vessels,” Grell said. “Both approaches would be compliant with FuelEU regulation and need to be considered at least from a commercial angle.” Given this, any sound compliance strategy must look beyond fuel selection alone and consider the broader market dynamics. “Our FuelEU Planner integrates these variables into a comprehensive scenario simulation,” continued Grell. “This is crucial because tackling FuelEU successfully requires charterers, managers, and owners to collaborate using a shared, fact-based approach.” Grell outlines several key steps for shipping companies to optimise their compliance strategies. First, they must gain a thorough commercial understanding of the economics of different fuels, considering their prices, LCVs, EU ETS costs, and the cost of pooling FuelEU compliance balances. At the same time, the technical and operational feasibility of using biofuels across different vessels should be assessed. While tests so far indicate that biofuels can be used without significant issues, lingering concerns over engine compatibility and tank systems remain. “Engine manufacturers need to give the green light, and bunker providers must be identified in key ports,” Grell noted. “For now, many companies focus biofuel usage on a smaller portion of their fleet to simplify operations and reduce risks.” However, one of the biggest hurdles remains contractual. “How do you protect the DOC holder, who is responsible for penalties, from the fuel decisions of the charterer? How do you fairly share the costs of biofuels and the value of surpluses? And how do you manage uncertainties tied to deployment patterns and fuel accountability under FuelEU?” Grell asked. Without clear contractual terms, companies risk major financial and operational pitfalls. “To align incentives across owners, managers, and operators, you need clauses in agreements like Shipman and Charter Parties,” he stated. “The ‘polluter pays’ principle is not embedded in FuelEU, so a robust data-driven understanding of the entire value chain is essential to avoid costly disputes.” OceanScore’s FuelEU Planner provides a clear path through the complexity. By simulating fuel use, compliance costs, and pooling options, the tool enables companies to budget effectively and negotiate data-driven contracts. “We make the complex FuelEU regulations easier to manage,” Grell concluded. “With our solutions, companies can understand the commercial impacts of their fuel choices, gain full transparency and confidently manage their compliance strategy.” You might also like Veolia, Enagás, and Barcelona City Council inaugurate first urban cold recovery network from LNG terminal
    Read article
  • September 20, 2024

    欧州燃油規制への対応最適 化 オーシャンスコアが新ツール、都内セミナーで紹介

    アルブレヒト・グレル専務は「FuelEUはＥＵ-ＥＴＳに 比べると極めて複雑で、海運会社は燃料選択など難しい選択を求め と説明する。 サイトの利便性向上 FuelEUは、個船のＧＨＧ排出量の過不足（コンプライアンス・バランス）を、
    Read article
  • September 20, 2024

    ＥＵ―ＥＴＳ排出枠 日本管理船 年１億ユーロ オーシャンスコア試算 370 隻・170万枠

    船舶のＧＨＧ（温室効果ガス）データ管理サービスを提供する独オーシャンスコア（本社・ハンブルク）の試 算によると、ＥＵ―ＥＴＳ（欧州連合の排出量取引制度）の１００％適用が始まる２０２６年以降、日本の船主・船舶管理会社が管理するＥＵ寄港船の排出枠（ＥＵＡ）コストは年１億ユーロ（約１６５億円）規模に上る見通しだ。ＥＵに寄港する日本管理船約３７０隻のＥＵＡは年１７０万枠に達する見込みで、世界の海運全体のＥＵＡ年８
    Read article
  • September 12, 2024

    OceanScore calculates €175m potential costs for Greek shipping with FuelEU Maritime

    Greek shipping companies are set to face a total bill of over €175m in penalties incurred under FuelEU Maritime after it takes effect next year but can also capitalise on the use of alternative fuels both to curb their financial exposure and generate compliance surpluses, according to OceanScore.
    Read article
  • September 11, 2024

    OceanScore Pulls Crowd with Launch of FuelEU Planner Amid SMM

    OceanScore has launched a new planning, simulation and budgeting tool for optimising compliance with FuelEU Maritime from a commercial standpoint. Its FuelEU Planner is the first in a suite of solutions geared to supporting complex decision-making processes with the upcoming regulation.
    Read article

    Ensure Your Shipping Operations are Compliant and Sustainable

    Login
    Contact us