How might we empower charterers and operators in their selection of vessels in order reduce their risk and exposure resulting from underperformance?
Key Focus Area:
Smart Maritime Services and Logistics
Charterers base their selection of vessels on a number of factors that indicate their expected performance. However, there is an information barrier/asymmetry in getting access to data related to a vessel’s performance. Information such as fuel consumption, vessel speed, engine efficiency (measured by revolutions per minute or RPM) and impact of weather on the voyage course, is often made available to the charterers in the form of noon or post voyage reports only after they have committed to the charter. This lack of transparency could result in underperformance of the chartered vessels and expose charterers to unexpected risks and costs.
Klaveness is looking for a solution that will provide charterers and operators with reliable vessel performance data to enable them to make more informed chartering decisions. This would ideally capitalise on information sharing through a network or charterers based on their past experience with chartered vessels.
Increasing transparency of vessel performance can serve as an incentive for shipowners to maintain and/or upgrade their fleet, and provide a more equitable compensation for vessels with higher efficiency and performance levels. The solution may even consider gamification, monetisation and even crowdsourcing.