World News
ZeroNorth Seeks to Standardise Bunker Consumption Models
Maritime digital services company ZeroNorth has set up a working group aiming to standardise vessel fuel consumption models for the shipping industry.
Members of the working group include representatives from ZeroNorth, Cargill, UltraBulk, Western Bulk, Maersk Tankers, Bearing and Propulsion Dynamics, ZeroNorth said in an emailed statement on Thursday.
"Predicting and accurately measuring marine fuel consumption is an important task that crew, owners, operators and charterers have to complete for every vessel travelling the world’s oceans," the company said in the statement.
"Technology and theoretical modelling have significantly evolved to create fuel consumption models and speed curves that estimate the amount of fuel that a vessel should consume under certain conditions.
"This information is an important part of vessel performance optimisation."
The working group will seek to improve the accuracy of these predictions.
"Fuel consumption models are generated from an underlying mathematical formula that considers a huge range of parameters, such as the deadweight tonnage of a vessel, its width, engine type, draught and power," the company said.
"Assessing the relative accuracy of these models is therefore vital to ensure that any optimisation decisions are based on the reality that a vessel faces at any given moment and in a range of conditions."
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 570.00 | 1.00 | 683.00 | 2.50 |
| Rotterdam | 515.50 | 1.00 | 685.00 | 7.50 |
| Houston | 555.00 | 1.00 | 678.00 | 1.00 |
| Fujairah | 563.00 | 2.00 | 754.50 | 0.50 |
| Global 20 Ports Average | 587.50 | 1.50 | 765.00 | 0.50 |
| Global 4 Ports Average | 551.00 | 1.00 | 700.00 | 1.00 |
| Global Average Bunker Price | 634.50 | 1.00 | 812.50 | 1.00 |
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