Data accuracy and reliability are key to efficient vessel performance monitoring. Inaccurate data recording can hide costly issues in vessel performance such as excessive fuel consumption and hinder vessel optimisation as operations teams are forced to make decisions based on unsound data.
A recent GreenSteam study found that over 30 per cent of noon reports are unusable due to errors, and 19 per cent of “on-voyage” reports are unusable due to poor data, such as duplicate readings, missing steaming hours, overlapping reports, blank input, or impossibly high or low readings. When these reports are used to analyse vessel operations, they provide a false picture of performance and any resulting decisions are based on inaccurate information.
The main causes of these discrepancies are human error and inconsistent processes. Recognising this challenge, GreenSteam has developed its new app to minimise the potential for mistakes and provide stakeholders with greater transparency into accurate vessel fuel consumption data to improve decision making at all levels of the business.
GreenSteam Capture uses optical character recognition technology to automatically record and time stamp flow meter readings. When combined with bunker delivery information, the app can accurately calculate hourly fuel consumption data for any vessel. Unlike automatic data-logging solutions, GreenSteam Capture is low cost and requires no downtime for installation of hardware. The app can be accessed via tablets which can be easily transferred between time charter ships, with information sent directly to shore. It can send data to GreenSteam’s AI platform and trigger configurable Smart Alerts, providing operators, owners and charterers with real-time notifications that target factors affecting vessel performance.
For shipowners, unreliable data collection and recording can lead to over- or underreporting of fuel consumption, which impacts the attractiveness of their vessels to charter parties. In turn, deciphering inaccurate or incomplete fuel reports is inefficient and can lead to unproductive disputes.
Simon Whitford, chief executive officer, GreenSteam commented: “Inaccuracies in fuel consumption data can lead to major discrepancies between what is reported, and how much fuel is actually burned. Data precision is at the heart of GreenSteam’s accurate AI models for each vessel, which are essential for optimal decisions around vessel speed, hull cleaning and trim.
“GreenSteam Capture removes that margin for error and provides owners and operators with a complete ecosystem for fuel meter reading, validation and auditing, resulting in greater security for both business performance and resilience. As pressure increases on the shipping industry to regularly collect and report vessel data, GreenSteam Capture lifts the burden of traditional manual data collection and reporting from crew, and results in a greater volume and higher quality of data that can better inform operational decisions. In turn, these decisions mean vessel owners and fleet managers can reap greater benefits from GreenSteam’s AI technology to optimise vessel operations for measurable cost savings.”