Vessel Performance Management is the art of monitoring vessel performance while applying scientific and analytical principles to draw conclusions for ultimately increasing profits by optimizing fuel costs. In the current scenario of the shipping industry and various stakeholders trying to cap emissions, it is now more imperative than ever, that ship owners and operators reduce energy consumption and improve the overall efficiency of their fleet.
A widespread difficulty for ship owners and operators is gaining access to experienced resources with strong commercial acumen, to be able to monitor their vessels 24×7 and generate tangible savings through a proven methodology. GeoPerform, as a team is proficient to monitor, evaluate and optimize vessel performance.
Number of vessels modelled
Annual EOV reports
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Today, climate change has become a huge topic and all stakeholders in shipping, including financiers, regulatory bodies like IMO, and oil majors, are taking steps to reduce or mitigate their carbon footprint. We are not just offering solutions to meet regulatory compliance but also providing a host of bespoke services for transparent Scope 1 and Scope 3 emissions management.
Voyage Optimization is sometimes restricted to weather routing, which does work well in the short term, but needs to be coupled with vessel performance to stay a step ahead and achieve savings. While the CP Performance follows a very binary approach – laden and ballast, vessels complete voyages under various dynamics – partial laden, different conditions of weather and sea, and varying engine loads/slip or even bunker mismanagement. Although ship-reported data is the primary source for understanding performance, relying solely on this data may result in inaccurate results due to its proneness to error. Some of the salient features of our service are as below:
Whilst vessel performance claims are regular points of contention in the Charter Parties, voyage re -structuring, and getting legal advice for interpretation of performance clauses often turns out to be an expensive and time taking proposition. We provide a holistic approach to Performance Claims Management where we proactively provide inputs on expected deviations in performance based on the Charter Party terms, apart from daily monitoring of vessel performance.
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