Our CEO Robert Coustas recently spoke about the need to simplify decarbonisation in shipping, as he unveiled Cassandra Light, our latest vessel performance software, at the Hellenic Maritime Forum.
Decarbonisation made simple
The year 2020, despite the disruptive effect that Covid-19 caused on markets and communities – and the understandable concern it spread across the shipping industry – was characterised by a resilient fight against the existential threat of climate change, which continued unabated with many regulatory developments taking place in the decarbonisation space.
In the shipping industry, the combination of IMO regulations such as the Global Sulphur Limit and the Energy Efficiency Existing Ship Index (EEXI) – plus market-based measures such as RightShip’s Greenhouse Gas (GHG) rating and the Sea Cargo Charter, among others – are having increasing influence on ship owners and charterers; both driving them to reduce the carbon emissions of their existing fleets and pushing them towards ships that are more environmentally friendly.
The inevitable consequence of this green shift and the regulatory movement that we’re seeing in the industry is that, sooner rather than later, every owner and charterer in the maritime sector will need to take action with regards to monitoring and optimising their vessels in order to reduce their carbon emissions.
The reliability of noon reports has long been questioned in the shipping sector due to concerns over the accuracy of the data they capture and the trustworthiness of the insights that can be obtained from them. With most vessels lacking real time data, the standard way to report fuel consumption to the chartering partner is a manual process that involves examining flow meters in the engine room and sharing those figures with the charterer, which makes it prone to human error and inaccuracies.
As maritime industry voices continue to call for increased transparency in the sector, current methods are insufficient, unrigorous, and are not hitting the mark with market needs. At DeepSea, we are experts in performance monitoring and are committed to bringing to market a first of its kind tool that’s affordable, reliable and insightful; offering value-adding performance monitoring, which doesn’t solely rely on undependable noon report data. Additionally, we’ve created a tool which would truly support shipowners and charterers on their journey to decarbonisation, performance transparency and maximised profitability.
We believe that going a step further and validating noon report data by combining and enhancing it with additional information – including AIS and weather data – and by using three sources instead of one, we can offer better screening mechanisms for each value that goes into the noon report and tell if a noon report can be trusted or not.
This is how we created Cassandra Light.
Cassandra Light collects noon reports from your existing noon reports provider – in email, Excel, or any other format – and uses AIS and weather data from the best providers to analyse external conditions throughout the day. It also looks at the noon report and cross-references how identical or sister vessels in our pool behave and perform under the same conditions – benchmarking your vessel or fleet’s performance against the market. Immediately, you’ll gain insights into the emissions and efficiency levels of your individual vessels or full fleet, and into potential fuel consumption misreports and charter party agreement breaches. Cassandra Light also provides a dashboard where you can see the performance of your entire fleet – of 5 vessels, 500 vessels, or anything in between and beyond – in one place. With 0 upfront investment.
At DeepSea, we’ve been active in the decarbonisation field since 2016, and we’ve been able to really transform the way many owners think – in Greece and around the globe – about extracting value, securing savings and generating results from monitoring fleet performance. Since Roberto’s participation in the Hellenic Maritime Forum, we’ve been having plenty of promising conversations with shipowners and charterers alike who are keen to start unlocking real value from their performance insights to drive change and accelerate their sustainability efforts.
If you’re after performance monitoring tools that deliver value and savings and push your fleet in the right direction towards decarbonisation, get in touch now to see for yourself the capabilities of Cassandra Light and our wider portfolio of performance monitoring and voyage optimisation products.