GE Highlights Role of Technology in Reducing Bunker Costs

GE has highlighted the role that technologies, particularly route optimisation systems, play in reducing bunker costs.

General Electric (GE) Monday highlighted the role that technologies, particularly route optimisation systems, play in reducing bunker costs.

"It's no secret that both fuel saving and optimizing operations have been the main drivers of introducing digital technology into a fleet because in some cases, fuel costs account for up to 40 percent of total operational expenses," said GE.

"Use of technology has the ability to reduce this figure as predictive analytics tools can bring in weather forecast data to optimize route planning, manage propulsion levels and reduce overall fuel consumption."

GE further adds that, while it may appear that uptake of such technologies in the shipping industry has been slow, and more could have been done so far to accelerate adoption, progress that the marine industry has made should be recognised, including the introduction of automation and control systems and the implementation of real-time fleet tracking.

"[It is] vital to note that a consumer device, whether that be a car, fridge or watch, is a completely different beast from a 150,000 tonne ship, so the two worlds can't move at the same speed. However, the key benefits of connected components remain the same no matter what industry we are discussing," said GE.

As a result, GE says many fleet operators who are looking to optimise their business performance in the future market are exploring the ways in which advanced software analytics can be used to harness data and provide insights into enhanced operations.

In May, Ship & Bunker reported that GE's Marine Solutions had entered into the container ship industry, with news that its systems would help reduce bunker costs for Maersk Line's second generation Triple-E vessels.