World News
Sensor-Free Bunker Monitoring Solution Launched
Netherlands-based We4Sea BV (We4Sea) Sunday launched a new version of their fuel efficiency platform it says can monitor and report on the fuel consumption and emissions of ships without installing sensors.
"Using the latest Big Data technology, We4Sea can now monitor and report on any conventionally powered ship, bringing a ship online within 24 hours. There is no need to install sensors or hardware, and therefore no up-front investments. These absence of high investments will impact the market adoption of fuel monitoring systems significantly," the company says.
The system works by using vessel operational data, such as position, speed, heading and draft, in conjunction with other data inputs such as weather conditions, wave heights, currents, and wind.
"The proprietary Digital Twin modelling of We4Sea transform this big data pool into actionable management information on how to optimize the use and configuration of a ship," the company says.
We4Sea, who as Ship & Bunker previously reported launched their first Big Data fuel monitoring platform in 2016, says this is the first non-CAPEX fuel monitoring solution in the shipping market.
"There is no need to buy and install expensive equipment, plan a port-visit or accept a few days off-hire. Monitoring and reporting of any ship can now start within 24 hours," says Dan Veen, CEO of We4Sea.
The company also notes the upcoming global 0.50% sulfur cap on marine fuel, which is set to come into force from January 1, 2020.
With the new rules expected to mean a significant uptick in fuel prices for most bunker buyers, We4Sea says IMO2020 rule will bring renewed demand for fuel monitoring solutions.
Less than 10% of all sea-going vessels currently have an active fuel monitoring system on-board, it adds.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 649.50 | 2.00 | 778.50 | 8.50 |
| Rotterdam | 602.00 | 0.50 | 748.00 | 6.00 |
| Houston | 624.00 | 5.00 | 792.00 | 3.50 |
| Fujairah | 649.50 | 2.00 | 898.00 | 3.00 |
| Global 20 Ports Average | 662.00 | 2.00 | 855.00 | 1.50 |
| Global 4 Ports Average | 631.00 | 1.00 | 804.00 | 0.50 |
| Global Average Bunker Price | 717.50 | 0.50 | 913.50 | 1.00 |
Popular Now More
-
Apr 24Non-compete clauses have not always been used in a fair and reasonable way in the bunker industry, Maritime Recruitment Company Ltd's Vernon Jayanathan tells Ship & Bunker. -
Apr 25Government investigating after test results altered 'to make the fuel consumption data look better'. -
Apr 26The company is looking for candidates with bunker trading professional certifications and at least six years of experience in a similar role.