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Fuel strategy optimisation tool launched

20|20 Marine Energy and BunkerMetric have jointly announced the launch of a new predictive analysis tool to allow shipping companies to calculate the financial and operational impact of the impending MARPOL Annex VI global 0.5 per cent sulphur cap, which comes into force on January 1, 2020.

{mprestriction ids="1,2"}The 2020 SEER (Sulphur Emissions Evaluation and Risk management) software considers a range of factors that impact bunkering decisions, including fuel price forecasts, trade patterns, vessel speed, consumption, product specifications, time spent in Emission Control Areas (ECAs), and tank sizes.

Simulation and optimisation algorithms are then used to generate an optimal bunkering plan, specifying the amount of each fuel type to purchase at each port call.

SEER also generates a comparative economic analysis of different vessel configurations for operating under the new sulphur rules, to allow users to analyse different potential strategies. For example, a shipowner can compare the economics of a conventional vessel burning distillates, to a vessel equipped with a scrubber, or using LNG.

The analysis takes into account the CapEx and OpEx of each variant, as well as range, tank sizes, margin, preferred fuelling locations, and geographical fuel price spreads.

The application will be continuously updated in line with changes to fuel price spreads, the companies said, as well as supply and demand scenarios on a regional and global basis. The software will be available via a web portal or as a dashboard within an existing system infrastructure.

“The reality is that fuel buyers – the ship owners, operators and charterers – need to drill down into the real detail on what their fuel procurement strategy will be post 2020 for each and every vessel they own or operate. Based on certain trading routes, distillates might be appropriate for one vessel. For another, a scrubber might be more applicable,” said Adrian Tolson, senior partner, 20|20 Marine Energy.

“To do this, they need to be able to look into the future; to see what a 2020 world looks like, and the impact that it will have on their businesses, both financially and from an operational perspective.”

“With this clarity they can develop the right fuel procurement strategy that will keep costs as low as possible, mitigate risks and ensure compliance. As well as creating a more efficient and profitable operation, and ensure business continuity, they will also be more competitive in the eyes of their customers.”{/mprestriction}

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