Integratiing WoP data into BunkerMetric’s software adds up-to-date port call, anchorage, barging and other costs and finesses the level of detail available in the consideration of time charter equivalent (TCE) of a voyage, improving the TCE by hundreds of dollars per day, or tens of thousands of dollars per voyage
This development enables operators to choose the right bunkering ports from multiple bunkering scenarios without worrying about unexpected outlays.
Inchcape’s WoP leverages its global span to gather detailed data on a huge number of ports worldwide, including all the main bunkering locations, and provides vessel-class-level detailed insight into the costs, locations and other operational details where bunkering can be provided.
BunkerMetric’s BunkerPlanner generates a bespoke bunkering plan for each vessel and voyage based on the latest available schedule and prices, typically pulled through integration with the client’s voyage management system and now supplemented with WoP data from Inchcape.
“Choosing a bunkering port is sometimes simplified into a choice of the lowest dollar per tonne. But to truly improve voyage TCE you need to look more holistically at the implied costs of bunkering. Is it induced, how long is the deviation, and how much is the port call cost? Vlissingen may be US$15 per tonne lower than Skaw, but the anchorage cost can easily be US$10,000 higher at Vlissingen, cancelling that benefit. By including (Inchcape’s) World of Ports port call data, we are significantly adding to the value of BunkerPlanner for our clients,” said BunkerMetric chief executive and co-founder Christian Plum.
Inchcape head of WoP Jeff Clark noted that the BunkerPlanner integration was an excellent example of exactly how digital innovation is transforming shipping through the power of data.
He said, “By leveraging Inchcape’s global network combined with the Port Cost Estimator module in WoP, we can provide a data feed to BunkerPlanner allowing their users to access voyage-critical port cost data through one dashboard, instantly. We are delighted to be supporting BunkerMetric in helping their customers optimise voyage costs through their digital platform.”
Inchcape’s WoP data has already been integrated in BunkerPlanner and is live.
BunkerMetric co-founder and chief technology officer Fernando Alvarez noted feedback from vessel operators indicated they view this not only as real improvement to the system, but it also deepens their understanding of how digital tools can support decision making.
“BunkerPlanner adds actionable intelligence to operators’ decisions by calculating many bunkering strategies. Operators spend large amounts of money on bunkers, and our solution offers an unusually high return on investment and a very short payback period. A single optimised stem recommendation can easily pay for the cost of the software for that vessel,” he said.
After installation and a pilot trial on five tankers in 2018, MOL Nordic Tankers has decided to extend the trial of BunkerPlanner, across the MOL Nordic Tankers fleet.