StormGeo, the industry leader in weather intelligence and ship routing services, on 10 September introduced its new Bunker Management module at the DNV Technology Center in Singapore.

The bunker management solution, first launched in February, is designed to assist shipping companies, particularly operators and bunker buyers, in navigating the complex maritime regulatory environment by streamlining planning and procurement processes.

“StormGeo's bunker management solution stands out by combining real-time data, advanced AI, and comprehensive fuel performance analytics to give a full transparent overview of our clients bunker management,” Julie Nielsen, Global Head of Bunker Sales, told Manifold Times.

“Unlike many traditional systems that only focus on fuel procurement or basic monitoring, StormGeo integrates environmental data with predictive models to help operators make smarter, proactive decisions.

“This not only reduces fuel consumption but also minimizes emissions as well as cutting cost by making the right bunker planning as well as having the real market data by hand when ordering bunkers, which aligns with sustainability targets and regulatory requirements.”

According to Nielsen, the new Bunker Management module seamlessly integrates into StormGeo’s existing s-Insight platform, offering clients a unified system for fleet and voyage optimisation.

The module connects with the company’s current routing and performance systems, allowing clients to track fuel usage, predict optimal routes, and benchmark performance in real-time.

The holistic approach ensures more efficient operations, lower operational costs, and improved environmental compliance, making it a key differentiator in the market and a key tool to optimise the largest cost on the OPEX.

“Shipping firms should adopt StormGeo's Digital Bunker Management platform because it delivers a comprehensive approach to fuel management that drives the largest cost on their OPEX, as well as optimising cost and time, as well as compliance with environmental regulations,” she added.

“The platform provides real-time visibility into fuel consumption, planning, procurement, and emissions, enabling shipping companies to make informed decisions that optimise their operations.

“Further by having a one-stop-shop solution for all your software solutions, is key to transparency and avoiding too much complexity.

“StormGeo’s continuous innovation and commitment to sustainability make it an essential partner for companies looking to future-proof their operations in a rapidly evolving maritime landscape.”

Photos from the event can be found below:

Photo credits: StormGeo
Published: 18 September 2024

Reaching shipping’s 2030 decarbonization goal of 20% emission reductions, set by the International Maritime Organization (IMO), will not happen without significant energy savings, according to DNV's latest Maritime Forecast to 2050, released on Friday (30 August). 

The report stressed that, until carbon-neutral fuels become viable, prioritizing the development and use of technologies that reduce energy consumption is crucial for lowering shipping’s emissions.

To reach IMO’s 2030 decarbonization goals shipping will need between 7 and 48 Mtoe of carbon-neutral fuels. However, with the global cross-sector production of carbon-neutral fuels expected to reach only between 44 and 63 Mtoe by 2030, it will be near impossible for shipping to secure its required share. 

As regulations like the EU Emissions Trading System (ETS) and FuelEU Maritime start to impose costs on emissions, shipowners and managers must therefore explore every option to reduce fuel consumption.

Knut Ørbeck-Nilssen, DNV Maritime CEO, said: "While we are currently witnessing a slowdown of decarbonization in shipping, we are entering an era of unprecedented technological exploration that will drive progress forward.”

“With carbon-neutral fuels in short supply, smart decision-making and strategic investments today are crucial to lay the foundations for future emissions reductions.”

“Prioritizing energy efficiency, leveraging technological solutions, and embracing digitalization are key steps towards reducing the extra cost burden and achieving our decarbonization goals."

The eighth edition of DNV’s Maritime Forecast to 2050 provides an updated outlook on regulations, drivers, technologies and fuels needed for maritime decarbonization, including four scenarios exploring conditions that could accelerate the adoption of specific fuels and technologies by 2050. 

The report emphasised that regardless of which direction the industry’s decarbonization journey takes, it will come at a significant cost. 

The four simulated scenarios project these cost increases per transport work; with estimates ranging from 69-75% for bulk carriers, 70-86% for tankers, and 91-112% for container vessels.

“Our latest analyses show that decarbonizing shipping could double the cost of transporting goods by containers”, said Eirik Ovrum, Principal Consultant and Lead Author of Maritime Forecast to 2050. 

“Ultimately, the rising costs of seaborne transport will need to be passed down the value chain and the market is already seeing trends towards shifting these costs to end-users. To remain competitive, shipowners must develop and execute strategic fleet management plans."

According to the report, reducing energy losses is the most straightforward way for the global fleet to cut emissions. Operational and technical energy efficiency measures can reduce fuel consumption by between 4 and 16% by 2030. 

Reducing energy consumption by 16% for the world fleet would save 40 Mt of fuel and 120 MtCO2 emissions, which would be equivalent to operating the 55,000 smallest ships or the 2,500 largest ships with carbon-neutral fuel.

Furthermore, the report highlighted onboard carbon capture (OCC) as potentially the most effective way to decarbonize as it enables the continued use of conventional fuels and technologies. However, CO2 handling infrastructure needs significant development. Solutions like shore power and batteries which can reduce reliance on costly carbon-neutral fuels are also highlighted. For instance, shore power can cut the 7% of total energy consumption that ships use in ports by replacing onboard fossil fuel-generated electricity.

Finally, the report emphasised the increasingly important role digitalization plays in complementing operational and technical energy efficiency measures. Digital verification tools are also crucial for establishing an infrastructure of trust, fostering industry-wide collaboration, and facilitating new contractual arrangements, incentivising energy savings.

 “Our new report outlines how digitalization can shed light on vessel performance, providing vital data which shows the impact of energy saving measures. Data-driven decision making can then be used to design the next-generation of energy efficient ships which are key to the sector’s long-term success”, said Ovrum.

Note: The full copy of DNV’s latest 8th edition of Maritime Forecast to 2050 report can be downloaded here. 

 

Photo credit: DNV
Published: 30 August, 2024

Columbia Group on Tuesday (16 July) said it has launched a new one-stop shop platform to help ship owners comply with the new FuelEU Maritime regulations. 

The introduction of Fuel EU Maritime restrictions that will enforce a reduction of carbon intensity levels on vessels by 2% next year is a challenge ship owners and managers trading in and out of EU waters will need to address and prepare for over the next six months.

The firm said the platform creates transparency in managing the fuel life cycle from bunkers supply to consumption and emissions. It can collect, clean, analyse and forecast emissions data. By using this platform, clients can feel safe in the knowledge they have a reliable partner who can also help them create long-term green strategies for the future.

“Thanks to its amazing technology and the use of AI, it can streamline these processes, providing accurate and efficient solutions that adapt to the evolving regulatory landscape,” it said.

Philippos Ioulianou, Director of Energy and Renewables at Columbia Group, said: “These new restrictions are going to have a big impact for owners and managers and it’s important they look at what measures they are going to need to take to comply with the regulations and to avoid hefty fines. 

“At Columbia Group, we believe that sustainability and profitability can go hand in hand.”

“We will be able to not only help our clients put measures in place to reduce their carbon intensity levels but we can also handle inputting and analysing the data as well.”

“Our mission is to empower the shipping industry with the tools and knowledge they need to achieve their environmental goals while maintaining competitive advantage. Through continuous innovation and dedicated support, we are committed to driving the global transition to a low-carbon economy.”

 

Photo credit: Columbia Group
Published: 17 July 2024