Theoretical and Practical Aspects of Data Asset Monetization in Maritime Enterprises

Abstract

This paper explores the challenges and opportunities related to the activation of data assets in the maritime industry. This study sheds light on the evolving landscape of data asset monetization in the maritime sector. The successful activation of these data assets has the potential to generate substantial economic benefits. By addressing ownership, pricing, and security concerns, maritime enterprises can unlock the true potential of their data assets and contribute to the growth and development of the industry. Maritime enterprises possess extensive and long-standing data assets, which have the potential for substantial value extraction. The first part highlights the global trend of data asset monetization and provides an overview of data accumulation by leading maritime companies. It also underscores the unique characteristics of maritime data, including relatively straightforward ownership and ease of utilization. The second part delves into the practical experiences and pros and cons of data asset monetization in various regions. The third part examines the main risks associated with data asset monetization in maritime enterprises. These risks include issues related to ownership and profit distribution after data rights are established, the possibility of data idling leading to a bubble effect, and escalating concerns about data security. In the fourth part, the paper offers specific regulatory pathways and recommendations to address these challenges. This includes resolving ownership attribution issues, implementing market-oriented pricing strategies with legal safeguards, and embracing technological measures for robust data security, such as distinguishing between information and raw data and ensuring the anonymization of original data.