Data analytics and machine learning cuts owners’ costs

Owners of medium range product tankers could increase earnings by US$1,000/day per ship by optimising vessel speed, according to Lean Marine chief executive Mikael Laurin. This adds up to US$365,000 per year or US$3.65M for a fleet of 10 tankers.

He said owners can reduce fuel consumption by around 20% by optimising propulsion, during his presentation at Riviera Maritime Media’s Tanker Shipping & Trade Conference in London on 27 November 2019.
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