Legacy charter party agreements are outdated, rigid commercial structures that have remained unchanged over generations, despite quantum leaps in technology. These terms foster misaligned incentives, hinder collaboration, impede efficiency, and create a zero-sum relationship – with financial penalties such as performance claims as the foundation of commercial relationships.
Nautilus’s Green Charter™ powers a collaborative and innovative commercial relationship and replaces inefficient, limiting, and penalty-focused clauses. Based on machine learning technology and Nautilus’s Digital Twins, it drives trust and confidence in predictions, unlocking improved efficiency and reduced carbon emissions.
How does it work and what are the commercial and environmental benefits for owners?