World News
Artificial Intelligence Saves on Fuel, Shipping Emissions
Using artificial intelligence to streamline ship operations could cut fuel use and reduce emissions, a maritime technology start up has said.
According to a study by Ocra AI, deploying AI for sea navigation could remove 47 million metric tonnes a year from commercial shipping (in 2022, global shipping emissions are around 858 million mt annually).
The use of the technology could reduce the need for manoeuvres and route deviation from close encounters with high-risk marine targets such as vessels, buoys and sea mammals by alerting the crew in real time, Reuters reported the study as saying.
The reduction in route deviations could help ships shave off 38.2 million nautical miles per year from their travel, saving an average of $100,000 in fuel costs per vessel, according to Orca AI's report.
"In the short term, it can lead to fewer crew members on the bridge, while those who are on the bridge will have a reduced workload and more attention to tackle complex navigational tasks, optimizing the voyage and reducing fuel and emissions," Orca AI chief executive Yarden Gross was quoted as saying by the news agency.
Ocra AI has said previously that its technology leads to savings on fuel.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 622.00 | 1.00 | 752.50 | 5.50 |
| Rotterdam | 570.00 | 0.00 | 765.00 | 1.00 |
| Houston | 602.00 | 9.00 | 774.00 | 10.50 |
| Fujairah | 625.00 | 1.50 | 855.00 | 6.50 |
| Global 20 Ports Average | 635.50 | 2.00 | 843.00 | 1.00 |
| Global 4 Ports Average | 604.50 | 2.50 | 786.50 | 6.00 |
| Global Average Bunker Price | 674.50 | 2.00 | 899.50 | 0.00 |
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