Fuel Savings from GreenSteam

The supplier of Machine Learning based vessel performance solutions GreenSteam  announced significant progress towards its stated objective of enabling its clients to achieve doubledigit fuel savings as substantial MARPOL driven fuel price rises, loom large, for the Shipping Industry.

A press release from GreenSteam, which is majority owned by BP/Castrol, said that currently, working with over 30 shipping owners, operators and marine organisations across all shipping sectors, globally, GreenSteam’s services are allowing these clients and partners to implement measurable fuel and operational cost savings.

These have been identified through, rapid, fleet efficiency audits, using the unique Machine learning based Discover solution and associated services, it said.

"Now adding multiple new clients every month, these clients benefit from an initial data-based survey, on anywhere from 6 months to 5 years of historical performance. Whole or partial fleets can be analyzed for potential savings, within two to four weeks. This process would previously have required extensive hardware investment and 1-2 years of analysis," said the release.

The new approach ensures customers can set appropriate plans and targets before any investment. The solutions are proving equally applicable to owners, operators, and charterers.

Chairman, Shaun Gray stated: “It is now over five years since we identified the dramatic impact these 2020 fuel prices rises were going to have on shipping. In 2016 we committed to being able to reduce this impact with proven, double-digit savings and the results are proving to be significantly greater than expected, with more to come before 2020, as we continue to expand the platform and services to address more performance areas.”

“The common reaction from all clients is that the granularity of the data we produce is unique and enables the outcomes not only to be validated but implemented with a range of shore-based and onboard services,” he added.

GreenSteam is a marine data intelligence company specializing in improving vessel efficiency through machine learning. GreenSteam implements solutions on vessels of all types. Founded in 2007, GreenSteam is located in Denmark, United Kingdom and Poland, and currently employs more than 30 people.