Benchmarking of noon-reports of chartered vessels can be a challenging -or even impossible- task. The noon-reported consumption is an average over a 24 hour period, where the consumption is impacted by speed, draft, and weather. Without context data, it is impossible to judge if the reported consumption is in line with expectations.
As over 95% of the chartered vessels rely on noon-reporting, benchmarking the reported data is of extreme importance.
We4Sea offers a new approach: a monitoring solution to benchmark noon-reported fuel consumption of any (chartered) vessel – in real-time.
An example is given below. It can be seen that the noon-reported fuel consumption (green dotted line) is varying over time. But is the vessel performing good or bad? This simple question can not be answered by this data.
Our Digital Twin can answer this question. In the below plot, the blue line represents the expected consumption, as calculated with our Digital Twin. The Digital Twin model has calculated the expected consumption for this vessel, taking into account vessel specifications, speed, draft, and weather conditions. As can be seen, the consumption reported is higher than can be expected.
When we plot the speed against reported main engine fuel consumption, we see a clear trend. It also can be noticed there is quite some scatter, caused by differences in speed, draft, and weather. Also, the number of data points is limited, only one per day.
In checking compliance with the original vessel speed/consumption plots, most companies simply discard days with bad weather, sometimes taking out up to 70% of the data points. Some of our clients have stated, that they end up with just 4 or 5 data points for a 20 days voyage.
We4Sea’s Digital Twin calculates, on average every 5 to 10 minutes, the expected consumption. As the Digital Twin already takes into account weather, draft, and speed, the data can directly be used to benchmark noon-reported consumption. There is no need to discard any noon-reported data anymore, which makes the results more reliable.
When trendlines are added, it can be seen that this vessel is clearly underperforming. At 15kn, she should be consuming 70MT per day, where she reports about 78MT per day, at an additional cost of over 2500USD per day. The most probable cause is the fouling of hull or propellor.
Are you interested in benchmarking your noon-data in real-time? Contact us for a free consultation!