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The ocean was being regarded as a substantial economic asset. A host of sectors such as offshore oil and gas, marine mining, fisheries, shipping and port, marine leisure and tourism, etc, had been classified under various categories in the ocean economy. The overall economic activity in the ocean had rapidly expanded, driven mainly by economic growth, global population demand, trade practices, surging income levels, development in technology, to name a few. In spite of establishing its economic significance, the ocean industry had experienced challenges because of data transparency issues. Its business practices were under scrutiny due to advances in surveillance technology. The high-resolution satellite images, tracking systems, drones, and an international drive for data transparency accountability had started to pull back the curtain on industrial ocean practices. While the ocean industry did not possess much control over surveillance technologies, it could directly participate in the movement towards ensuring more transparency through taking up an active contribution in data sharing. By doing so, it would not only enhance operational accountability, but also improve the profitability, public trust, and even operating efficiency and sustainability. In this context, would the ocean industry's data sharing initiative be able to promote transparency?