"Open data and transparency can eventually contribute positively to the overall competitiveness of the industry, improving efficiency considerably in a number of different areas," says Demitris Memos, managing director of AIS vessel traffic system MarineTraffic. He also believes blending different datasets can lead to innovative services with exceptional value.

Memos says that his company is currently focusing on exposing more of its data to its customers, providing actionable intelligence that supports their decision making process.

"Our vision," Memos says, "is to bring positive change to the shipping industry in terms of efficiency and transparency."

The next major project in the pipeline is to offer route forecasting.