World News
Ship Optimisation Firm ZeroNorth Launches New Service for Charterers
Maersk Tankers-backed vessel optimisation company ZeroNorth has launched a new service helping charterers select ships.
The company's new Vessel Selection support service will help charterers to improve fuel consumption predictions with simulations of various operating conditions for the vessels they are considering chartering, ZeroNorth said in a statement on its website on Wednesday.
The service seeks to use historical data and machine learning to give more accurate predictions of vessel performance.
"The fuel consumption estimates historically used for making pre-chartering decisions are often based on limited operational data, such as selected speeds and good weather, rather than the dynamic range of situations faced at sea," ZeroNorth said in the statement.
"This creates a challenge for charterers wanting to identify the best suited vessel for particular journeys.
"Moreover, calculating fuel performance for vessels being taken on short-term charters is a well-known challenge for charterers, as they may struggle to tap into a wealth of data that can inform their decision-making."
The data ZeroNorth uses includes weather data, vessel characteristics and operational and historical performance data.
"This provides charterers with an unparallel level of insight, and the power to make substantial progress towards their sustainability and optimisation objectives," Pelle Sommansson, chief product officer at ZeroNorth, said in the statement.
"As part of our mission to make global trade green, we'll continue to work to design the data and AI-enabled products that will help all companies in the maritime supply chain to make better decisions for profit and planet."
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 567.50 | 3.50 | 700.00 | 14.50 |
| Rotterdam | 512.50 | 4.00 | 695.00 | 17.50 |
| Houston | 556.00 | 6.00 | 679.00 | 1.00 |
| Fujairah | 562.50 | 2.50 | 755.00 | 0.00 |
| Global 20 Ports Average | 589.00 | 3.00 | 764.50 | 3.50 |
| Global 4 Ports Average | 552.00 | 3.00 | 699.00 | 2.50 |
| Global Average Bunker Price | 635.50 | 1.00 | 811.50 | 11.00 |
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