Eagle Bulk and Partners Receive SHIPPINGInsight Award

The 2016 SHIPPINGInsight Award was presented to Eagle Bulk Shipping, and its technology partners Veson Nautical and Accuritas Global Solutions, at the SHIPPINGInsight 2016 Fleet Optimization Conference & Exhibition in Stamford, Conn.
 
The award is presented annually to honor a shipping company and its technology partners for the successful implementation of an innovative technology or initiative that advanced the state of the art in fleet optimization. The award winners each received a binnacled captain’s clock in a polished wooden case as well as framed certificates.
 
Eagle Bulk Shipping was recognized for a performance profile modeling project that provided an optimal way to determine the speeds and consumptions guaranteed in the company’s time charter parties. To achieve a current performance snapshot for each of its 40+ vessels, Eagle developed a mathematical model based on sea trial, model test and engine testbed data, and an algorithm to process voyage data coming in from the vessels via Veson Nautical noon report forms and Accuritas noon reports. Tracking the deviations between actual and optimal performance over time resulted in a performance index used to calibrate the vessel’s baseline mathematical model to current performance conditions. Recent examples show that material improvements in TCE are achievable through proper utilization of these models.
 
In addition to the SHIPPINGInsight Award, a certificate of merit also went to Neda Maritime Agency for becoming the world’s first ship owner to be awarded carbon credits through an initiative of its partner, AkzoNobel.
 
“We instituted the SHIPPINGInsight Award to recognize achievements in fleet optimization and ship operating efficiency, as a way of helping to stimulate creative innovations and deployment of new technologies in ship operations,” said SHIPPINGInsight co-director Jim Rhodes.