The Industry 4.0 has significantly influenced the industry, compelling businesses to adopt to become more efficient, safe, reliable and environmentally responsible. Maintenance is recognized as a critical component in achieving these objectives, thus highlighting the importance of implementing effective maintenance policies. However, rapidly evolving nature of maintenance strategies introduces both challenges and opportunities in the selection and adaptation of fit for purpose maintenance policies. Increased availability and accessibility of Internet of Things (IoT) has accelerated the adoption of predictive maintenance technologies for shipping companies. Nonetheless, as the industry progresses towards prescriptive maintenance, launching such initiatives without a comprehensive strategy might present significant obstacles for shipping companies. This paper develops a strategic framework to investigate the potential of prescriptive maintenance paradigm in shipping industry.  The study has strengthened with a Strengths, Weaknesses, Opportunities, and Threats (SWOT) analysis. The study provides insights about challenges and opportunities to integrate prescriptive maintenance into shipping companies to increase its utility.