A Case Study on Dynamic Speed Optimization: Improve Voyage Economics And Increase Profitability
The maritime industry faces increasing pressure as the IMO firms up its 2020 global sulphur cap and uncertainty around future fuel prices grows. For our clients, being able to monitor, understand, and optimize fleetwide fuel consumption is top of mind. That’s why we’ve been hard at work rolling out our innovative solution: Dynamic Speed Optimization (DSO).
Using high-frequency data, Nautilus builds machine learning models that, given forecasted weather conditions, predict fuel consumption and speed with a high degree of accuracy. Nautilus’ DSO uses these models to determine which speed or RPM any given vessel should operate at to maximize daily TCE profitability, given specific commercial constraints of any voyage (i.e. fixed ETA, voyage budgetary targets, vessel operating range, etc.).
The insights surfaced by Nautilus Platform and DSO have already helped our clients reduce operational costs and maximize TCE rates—in some instances, uncovering the opportunity to increase rates by over $250 per day, per vessel.
By Matt Heider, CEO
To read more about the potential for dynamic speed optimization in maritime, fill out the form below and then click on the download button to download our case study.
Nautilus Labs is a technology company focused on advancing the efficiency of maritime commerce. We drive positive transformation and sustainability in the shipping industry. Nautilus Labs enables maritime shipping companies to maximize fleet ROI through a cloud-based analytics platform that unifies data and leverages machine learning automation to surface actionable insights and drive collaboration among all business teams. To learn more, visit our platform overview or contact us at firstname.lastname@example.org.