It has both a financial impact on an individual shipping business, but also an environmental impact on our wider global community. For this reason, we know authorities are putting more and more pressure on shipping organizations to reduce their fuel consumption.
There is a financial incentive for both ship owners and charterers to take an active role in reducing fuel consumption, and regulations from the IMO have also been introduced to ensure compliance. SEEMP, EEOI and the Carbon Intensity Indicator (CII) have all been established to drive this change and support the process. Visit our page on environmental monitoring for more information.
There are many different ways to approach the task of reducing fuel consumption. This is why we take a consultative approach with our clients and explain the different strategies available. Each fuel reduction plan is shaped around the fleet type, performance goals and budgets.
If you are looking to reduce your fuel bill, there are two areas that you’ll want to consider:
Better technology has led to better insights on the different factors that influence and impact fuel consumption. The first step to identifying fuel savings is having reliable and accurate vessel performance data. To understand the mechanics of how we generate the most intelligent and actionable insights, visit the following pages: our platform and data control.
With our machine learning technology, we can analyze data faster and more effectively than any human is capable of. Artificial intelligence technology can examine vast amounts of data, with research showing that it is capable of processing 95% of a vessel’s data. Whereas a human brain can only process approximately 5%. This capability significantly speeds up the process of data analysis and unlocks new levels of understanding within the data.
We have the fastest algorithms available, which can create accurate vessel models within only 30 days of analysis. Less experienced machines would historically take 90 days to reach this point.
Another service we offer customers through our platform is the ability to optimize their bunkering decision based on price and location.
Visit the i4 Knowledge Hub to take a look at all of our resources relating to fuel savings
If you would like to book a platform demo or consultation with one of our fleet optimization experts, contact us.
