GreenSteam delivers double-digit fuel savings

GreenSteam delivers double-digit fuel savings

GreenSteam, a company that provides machine learning based vessel performance solutions, has reportedly achieved double-digit fuel savings for its customers.

GreenSteam’s machine learning based Discover solution and associated services analyse whole or partial fleets for potential fuel savings and help customers to set plans and targets to assist with investment decisions.

An initial data-based survey is carried out, using data from 6 months to 5 years to assess historical performance. Within two to four weeks, vessels are then analysed for potential fuel savings. According to GreenSteam, this process would have previously required extensive hardware investment and 1-2 years of analysis. The approach allows customers to decide which investments are worth making to improve fuel efficiency, based on the historic and current fuel performance of the vessel or fleet.

The solutions can be used by 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 on-board services.”