March 31, 2020

Voyage Optimization: More Bespoke Outcomes for More Data Complexity

Voyage optimizations are multi-dimensional, outcome-oriented efficiency exercises.

They’re a sophisticated look into what could have been, what is, and what could be. And to be done well, they need to be data-driven, outcome-focused, and meaningfully tailored to each business, vessel, and leg.

Simply put, they’re complex, and for operators, the outcomes that are most meaningful are executed with a comprehensive view across historical, real-time, and predictive datasets.

But within the confines of those three dimensions, finding useful information can be time and resource intensive. The emergence of big data has made these critical decisions even more complex by providing operators with a greater quantity of information that then must be applied to each of their analyses.

And, while any data-based decisions are unique to each voyage and include a myriad of both quantitative and qualitative inputs, they often provide competing means to achieve multiple goals (e.g. consumption, emissions, TCE, ETA et al).

While many shipping companies are data rich—with massive amounts of high frequency sensor, technical, and observed datasets created every day for each vessel—most are information poor. They often lack the resources or time to efficiently find actionable information to support decisions when they matter most.

To remain competitive and sweat more yield out of each asset, shipping companies will need to make their data more useful—by using a combination of human and machine intelligence.

Software that acts as decision support for your team can surface meaningful insights via machine learning. These models are trained over time to consider a range of factors that are specific to your vessel, the commercial details of the voyage, along with real-time and predictive weather. (Critically contextualized data that’s then unified across your teams.)

And combined with human-driven analysis, operators and masters can receive a cadenced set of recommendations aimed at optimizing each vessel’s fuel consumption, commercial performance, and more yield from the asset over time.

At Nautilus, we’ve built a platform that balances both software and service, so that operators can achieve new, meaningful insights on how their vessel will perform in predictive weather conditions, while managing ETAs, minimizing fuel consumption, and raising TCE values.

Once your vessel is integrated onto Nautilus Platform, our data scientists work to create custom models that measure the performance trends of your vessel and provide the framework for the predictive analyses that enable an accurate and efficient voyage optimization experience. They enable you to:

  • Learn about the particular commercial implications of optimization for your business
  • Justify your decisions with recommendations that lead to the best economic outcomes for each voyage
  • Simulate accurately how any change in speed will affect the commercial totals of your voyage
  • See—in real time—how you can improve your TCE by making small changes to your daily operations while at sea
  • Generate a specific recommendation for the speed, power, or propeller pitch that your vessel should travel at to achieve the maximum TCE for your voyage

Let us know how we can begin a Nautilus Voyage Optimization for you by requesting a demo.

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