A bulk operator leveraged Nautilus Voyage Optimization to receive optimal operating recommendations, resulting in over $55,000 savings and reduced CO2 emissions by 448MT on a single voyage of 29 days from Australia to Asia. The client’s objective was to reduce fuel consumption and emissions while maximizing net profit.
The client was looking for a solution that empowers them to improve the collaboration with the vessel owner and share actionable insights with relevant stakeholders. The bulk operator identified Nautilus as their partner in fleet optimization with a tool that generates dynamic ship-specific operating instructions that adapt to changing environments such as weather, sea state, or market rates while underway. Nautilus’s machine learning-based performance models and accurate predictive decision support tool convinced the client to achieve maximum vessel efficiency and reduced greenhouse gas emissions.
By the numbers:
- 144MT Fuel Savings
- $56k Profit Uplift
- 448MT CO2 Emissions Savings
Emissions savings of 448MT CO2 in 29 days – on one single vessel
The bulk carrier traveled from Australia to Asia while receiving daily operating instructions, sent to both the vessel’s crew and shoreside team. Nautilus’s recommendations take into account machine learning-based performance models, market rates, daily hire costs, weather forecasts, and sea state conditions.
On this voyage, Nautilus recommended reducing the shaft speed to maximize overall voyage profitability, and also ensuring the vessel reaches its destination at times when pilots were available. Even though the vessel expenses were slightly higher due to longer operating hours, the bulk operator benefitted from fuel savings and was able to save $56,000. Due to the lower shaft speed instruction, the client saved 114MT of fuel and 448MT of CO2 emissions on a single voyage of 29 days.
Based on average sailing days, the client could take this voyage 12 times a year, resulting in 1,368MT of fuel savings and 5,376MT of CO2 emissions savings – equivalent to taking 1,169 cars off the road in the same time period. By relying on data, technology, and actionable insights, the client was able to increase voyage economics while reducing their carbon footprint.
Predictive analytics and increased collaboration
Nautilus’s Collaborative Voyage Optimization solution empowers maritime shipping leaders with insight-driven recommendations through predictive decision support to reduce emissions while maximizing commercial outcomes. Nautilus generates ship-specific operating recommendations that are available on Nautilus Platform and are shared with crews and shoreside teams for easy access. The technology is powered by a proprietary combination of machine learning, naval architecture, and millions of data points and offers the most accurate real-time prediction of voyage outcomes in the market. Nautilus’s fully interoperable solution, which is deployed by several energy majors, large operators, and leading ship owners, requires no additional hardware and works within the terms of Charter Party Agreements. Unlike other solutions, Nautilus takes a commercial approach and capitalizes on opportunities created by external factors to unlock maximum financial returns and reduce emissions.
For more information, download our whitepaper on voyage optimization.