Voyage Optimization – An Owners Perspective
When we were designing our AI based optimization software (OptiNav), it was always in mind with the looming decarbonization challenge facing the maritime industry and specifically we were trying to find a balance for Operators between reducing emissions and maintaining a profitable TCE. Over the last year, working with our clients we have seen very favourable results and along the way were surprised to see the amount of interest from Ship Owners as well.
Originally, we believed the main benefits of Optimization for Owners would be reduced consumption leading to better CII ratings and the opportunity to develop closer working relationships with Charterers and eliminating the always problematic performance claims.
Many Owners however have been quick to point out that they too in many instances have to operate their own vessels. A primary example of this is when they fix their vessels on voyage charter as opposed to time charter. In those instances, responsibility lies with them to provide Master with weather routing assistance and while there is no performance warranty per se, there is always an incentive to optimize in order to reduce emissions and costs. Another example is when Owners are required to ballast a vessel to a delivery point. Here again it is in their interest to find an optimal voyage plan to reduce costs and emissions. True North Marine is perfectly placed to assist with OptiNav
The added benefit with True North Marine is that we have a team of experienced seafarers who work with Master directly to develop the Voyage Optimization Plan and increasingly we work with Chief Engineer onboard to ensure that main engine is not compromised in any way while optimizing which often means proceeding at reduced speed.
OptiNav is a simple solution as it does not require any onboard installation and can be ordered on the fly for a reasonable per day charge while potentially saving significant amounts of money and assisting to meet emissions targets.
Please feel free to reach out to us if you wish to discuss.