The Partnership
With a history of over 60 years, Eastern Pacific Shipping (EPS) is a leading shipping company committed to the green and technology-driven growth of the maritime industry. Based in Singapore, EPS has over 150 vessels in its fleet, consisting of tankers, bulk carriers, gas carriers, containerships, and PCTC. The firm is committed to embracing sustainable solutions that improve their fleet efficiency and have a positive impact on the environment as per their Environmental, Social & Governance Policy. EPS and Nautilus’s partnership began in February 2019, deploying Nautilus Platform across six multi-segment vessels, with the aim of reducing fuel waste and making their shipping operations more sustainable. By November 2019, EPS had agreed to expand the software solution across its wider fleet. Inspired by EPS’s commitment to a more sustainable future for ocean shipping, Nautilus became a part of the company’s Accelerator powered by Techstars which launched in late 2019 and has continued to work closely with the shipping leader.
Why Nautilus?
“We chose Nautilus because we wanted our teams relying upon a single source of information in order to promote transparency and collaboration. In addition to this, we were looking for a solution that would help our teams make enhanced data-driven decisions on how to operate voyages in real-time. We wanted a solution we could trust to help us enhance our voyage outcomes in real-time based on a high-fidelity performance understanding of our fleet. We are proud to partner with Nautilus as part of our innovation portfolio and as a reflection of our commitment to drive sustainability in ocean shipping. Their solution allows us to understand our vessels’ performance profiles in real-time and take the necessary actions to make sure all of our vessels are running efficiently—not just from a profitability standpoint but also from an emissions and fuel waste standpoint. Working off one single source of truth, our teams communicate much more seamlessly to share and escalate their insights all in Nautilus Platform.”
— Claus Nehmzow, Chief Innovation Officer at Eastern Pacific Shipping
By the Numbers:
- 4% TCE Uplift
- 30.5 MT of Fuel Saved / $43K of Net Fuel Cost Saved
- 95 MT of CO2 emissions saved (equivalent to taking 21 cars off the road for an entire year)
Reducing fuel consumption and lifting TCE rates by 4% in 46 days
On a single voyage, an EPS tanker departed from Finnart, Scotland, for Bonny, Nigeria, with an ultimate destination of Balikpapan, Indonesia. Along this voyage, the vessel’s crew and operations team adhered to Nautilus Platform operating recommendations informed by the vessel’s real-time speed and consumption performance, vessel condition, the voyage’s updated route, and forecasted weather and sea state along the route. As the voyage unfolded, the vessel made an emergency stop in the Cape of Good Hope, South Africa, due to a medical emergency. Using Nautilus Platform’s dynamically recalculating Voyage Optimization module, EPS was able to still reduce their fuel consumption to an equivalent of the emissions of 21 cars in an entire year while uplifting TCE by 4%.
Nautilus Voyage Optimization
Nautilus’s models take into account all meteorological and oceanographic conditions (wind, wave, and current) that a vessel is expected to experience along a route and predict the impact they will have on the fuel consumption and speed of the vessel. As an interoperable and open solution, Nautilus is able to pull in routes from any file, format, or source. Nautilus Platform integrates directly with weather-routing providers’ API to ingest initial routes pre-voyage and to update routes mid-voyage. The Nautilus Client Success Team also works in partnership with clients to enter waypoints directly into the Nautilus Voyage Planning tool, which can be used for current voyages or saved for future ones. Nautilus couples weather-based optimizations with highly accurate machine-learning performance models and dynamic inputs such as expected future contract rates and demurrage that meaningfully impact resulting voyage profit. Nautilus considers the complete commercial picture and the goals of the commercial team to enhance voyage outcomes.
