For a bulk carrier owner/operator, Nautilus Voyage Optimization resulted in 8% fuel saving over the course of two vessels’ voyages. One ship departed for Camden (New Jersey, USA) and sailed via Corpus Christi (Texas, USA) to Iskenderun (Hatay, Turkey). The other vessel departed from Vysotsk (Leningrad Oblast, Russia) to Skagen (Jutland, Denmark) and then Skagen to Brindisi (Apulia, Italy). The client’s objective for the two Voyage Optimizations was to reduce fuel consumption and maximize voyage profit while taking into account just-in-time arrival windows, weather, and potential market opportunities.
The bulk owner/operator was looking for a solution that collected and analyzed high frequency data from vessels, with the goal of empowering its teams to make more informed data-driven business decisions. The client also wanted to increase transparency and collaboration between departments and roll out a software solution that served as a single source of information for all stakeholders. The client identified Nautilus as the leading solution provider with its advanced analytics capabilities and prediction accuracy that enabled them to achieve their desired vessel and voyage outcomes.
By the numbers:
- 2 voyages
- 8% Fuel Cost Saved
- $20,172 Profit Uplift
- Recommendation format: Shaft Speed for one vessel, Shaft Power for the other
- Optimization inputs: Fuel cost, ETA, engine optimal operating power range
Reduced fuel consumption—and increased voyage profit by 3%.
For the bulk carrier traveling from Camden to Iskenderun, Nautilus Platform provided daily operating recommendations to the vessel’s crew. Nautilus uses machine learning to power a highly accurate prediction of vessel performance. Thus, Nautilus Platform highlights the impact of a change in RPM or shaft power on the speed, fuel consumption, and arrival time. On this voyage, Nautilus’s recommended RPM setting was lower than the usual vessel setting given forecasted weather and future freight revenue opportunities. The vessel arrived 1.75 days later than originally anticipated, but reduced fuel consumption by 60MT over the course of 35 voyage days, resulting in a $28,545 reduction of fuel expenses and a profit uplift of $13,400. By relying on data and technology, the client was able to enhance voyage outcomes while sailing more sustainably.
For the second bulk carrier traveling from Vysotsk to Skagen and Skagen to Brindisi, Nautilus Platform provided daily operating recommendations to the crew that resulted in the vessel arriving approximately 0.7 days later than anticipated. Nautilus’s voyage recalculations determined that the optimal arrival given all the dynamic variables at play would be marginally later, traveling at 11.5 knots down from the 12.2 knots originally planned—with a resulting 20% decrease in fuel expenses for this voyage alone.
Uncovering efficiencies beyond voyage outcomes
Nautilus’s Voyage Optimization module empowers bulk operators shoreside with the accurate speed to yield the optimal benefit, balancing future market opportunities with bunker costs and environmental conditions. But beyond leveraging vessel performance models for the purpose of enhancing voyage outcomes, Nautilus Platform can impact many aspects of vessel operations to enhance vessel yield.
Vessel performance models automatically update after a maintenance event, so that all teams have the most accurate data for how their vessel is performing. Leveraging Nautilus Platform, the operations team noticed that one of their vessels was regularly steaming at shaft powers that were much lower than the official engine range. After discussing with the technical team, the operator adjusted the minimum operational speed constraints, which yielded substantial savings, especially in the midst of a low-price market for Bulkers.
Decision support powered by the complete commercial picture
Taking into account all environmental factors (wind, wave, sea state) that the vessel could encounter, Nautilus Platform can output an optimal shaft speed or shaft power instruction to achieve the best TCE or stick to a specific ETA. Nautilus is an interoperable solution, integrating with any third party, such as sensors and weather-routing providers. In collaboration with the client, Nautilus enters way points into the Nautilus Voyage Planning tool. Nautilus couples weather-based optimizations with highly accurate vessel specific 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. For more information, download our whitepaper on voyage optimization.
Voyage profitability driven by transparency, accountability, and collaboration
Nautilus powers decision-making based on real-time data and actionable recommendations to maximize profitability and reduce fuel consumption. As a single source of truth, the Platform connects all stakeholders, enabling them to receive and share insights, empowering collaboration, transparency, and accountability.