Thorco increases visibility of charter party compliance with Navis Bluetracker

Thorco increases visibility of charter party compliance with Navis Bluetracker

Copenhagen-based Thorco Projects has selected Navis’ Bluetracker solution to monitor and analyse the fuel consumption and vessel performance of its own and chartered vessels.

The Charter Monitor module of Bluetracker monitors the operational speed versus fuel oil consumption as agreed upon with the charter party, providing greater visibility of charter-party compliance. The system gives automatic notification if the speed consumption curve exceeds certain limits, which enables closer collaboration between Thorco Projects and its ship managers to continuously optimise vessel performance.

The system fosters closer internal collaboration between the performance and operations departments by both working with a single source of truth, easy to use and to share data. The system also runs a plausibility and estimation engine to ensure a level of high data consistency and quality based on data collection sources.

“Operating a mixed fleet of own and chartered vessels in a spot-market business is often a challenge, since the operational vessel performance data are being evaluated from different perspectives with different priorities,” said Thomas Mikkelsen, CEO at Thorco Projects. “Establishing a multi-tenant source of truth that ensures the same level of knowledge about operational data in real-time of different stakeholders is a step towards effective operations in a dynamic market based on collaboration.”

“The availability of operational vessel performance data at any place, at any time, is seen as an added value – especially by the technical managers amongst our customers using Bluetracker,” said Selke Eichler, global director customer support at Navis Carrier and Vessel Solutions.

The scope of the current initial agreement includes 12 contracted vessels.