Shipping companies must ensure they have robust data collection and analysis processes in place, or risk being unable to meet internal and regulatory decarbonisation targets in time – such are the findings of a recent industry poll posed by GreenSteam, developers of vessel performance optimisation solutions.
The introduction of the IMO’s greenhouse gas (GHG) strategy calls for a 70% reduction in carbon intensity and a 50% decrease in total annual emissions from international shipping by 2050 compared with 2008 levels. This has spurred a flurry of environmental activity across all sectors as first-movers reduce emissions and set targets for net zero emissions ahead of the IMO targets.
However, despite these looming goals, and the efforts of the industry’s larger corporations, a poll posed by GreenSteam to around 200 attendees of the recent webinar, Analytics and advice using low frequency vessel data & data collection via seafarer apps, found that many shipping organisations are yet to firm up their emission reduction strategies. 15% of polled attendees admitted that they did not know where to start in order to reduce emissions, and 52% are still researching the best methods for meeting the IMO’s targets.
International regulations, such as the IMO Ship Energy Efficiency Management Plan (SEEMP) and Energy Efficiency Operational Indicator (EEOI), provide shipping companies with a metric for operational efficiency against which improvements can be measured. However, progress can often rely on a “trial-and-error” approach. Most recommendations seem to target energy saving device (ESD) retrofits or lower emission fuels, and often do not address targeted actions which can be taken today to reduce emissions.
Simon Whitford, Chief Executive Officer, GreenSteam commented, “GHG emissions accumulate and remain in the atmosphere for extended periods – adding urgency to the many good steps that can be taken today. Applying data intelligence to your fleet is the best way to collate and fully understand your fleet’s emissions profile. Owners and operators who invest in advanced data analytics can identify those operational practices which are behind most of their emissions. This provides critical insights to inform effective emissions reduction strategies.”
For 14 years, GreenSteam has pioneered the benefits of AI technology for vessel optimisation. The company has discovered that improving data accuracy is the single most effective action unlock powerful vessel insights that can reduce fuel wastage. The company’s AI platform uses machine learning to assess the impact of around 13 key factors that influence fuel consumption on each individual ship, including fouling, speed and trim. The platform provides shipowners and charterers with actionable advice that, if implemented, can cut fuel bills and significantly reduce emissions.
Whitford continued, “Analysing the individual components of EEOI can give owners and operators a useful breakdown of emissions by source. GreenSteam can provide something akin to an itemised ‘receipt’ of carbon emissions over several addressable performance factors. This level of granular and transparent reporting enables shipowners, operators, and charterers to target optimisation to where it will have the most impact.”