Most shipowners and charterers use only two speed instructions during a voyage: full speed and eco-speed. But shouldn't you use the speed that is optimal?
We believe that a vessel should sail at the speed which will give you the lowest costs for the current voyage, which is a delicate balance between fuel costs, maximum allowed ETA, and ship daily charter costs.
Our We4Sea Speed Adviser does exactly this.
Our speed advisor uses our Digital Twin technology by finding the speed-consumption curve of the vessel at each instant, based on the specifics of the current ship's situation, such as weather or draught.
Combined with the daily rate, fuel price, route and distance to go, our algorithms calculate what speed is optimal for lowest costs, while still arriving on time. Every 15 minutes, we automatically check if the current speed is still optimal.
In this example, a vessel is sailing from Brasil to Las Palmas. The actual speed is 13.4kn. Charter rate is 25,000 USD per day and fuel price is 600USD per MT. The operator is informed that the berth is not available until October 17.
Based on the settings and the new ETA, the optimal speed through water is 12.5kn. By sailing slightly slower, over 13,000 USD on total voyage costs are saved!
The operator can change the settings and the maximum ETA easily in the dashboard, and instruct the vessel accordingly. Also, a graph is presented displaying the effects on voyage costs for a lower or higher speed.
Also the operator can directly see if the vessel follows the new speed instruction, using our real-time dashboard.
Using this speed adviser, our customers have reported up to 5% savings in voyage costs. See what it can our real-time speed advise can do for your business? Contact us for a pilot!