The Vessel Performance Optimisation Forum Singapore
Higher fuel prices, tighter regulation, and a commitment to a greener future are changing the way the shipping industry does business. Greater insight into vessel performance is available through high-tech monitoring systems and digital twins, but it is vital to understand why a parameter is being monitored and what the data shows in order to adjust a vessel’s operation to make it more efficient and attractive to charterers.
The 2020 sulphur-in-fuel oil cap brings new challenges. Largely, the availability of fuel and the consequences to shipowners and operators if obtaining compliant fuel is not possible. With more fuel blends available to meet the 0.5 per cent limit, no two ports will supply the exact same composition of fuel. Even a slight change in quality between fuels can lead to substantial issues with engine performance and breakdown, as the recent problem in the US Gulf illustrates. The industry needs clarity on which fuels will be available and where they will be to make decisions now for 2020.
Ships may choose to retrofit scrubbers or covert to LNG to avoid the problem of low sulphur fuel availability. They require larger CAPEX investments, but OPEX may be lower as low sulphur fuel costs are expected to rise. Shipowners and operators must weigh up the options and understand which investments make financial sense and what financial assistance they may be able to obtain.
VPO Singapore 2018 will consist of three key sessions to identify and discuss the approaches to better ship performance through monitoring, fuel management, and financing technologies for change.