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3 Ways to Reduce Vessel Operating Expenses

All Ship Owners, Managers, and their departments are being mindful of costs in these challenging times.

Whether you are a CEO, CFO, Charter, or Operator, there is increasing pressure to reduce costs to ensure business stability.

Below we show you three ways you can reduce your ship operations & chartering costs by analyzing Bunker Fuel and Port Costs alongside Sailing Performance data.

By using data visualizing analytical dashboards, you can support a more strategic and clinical decision-making process for cost management and reduction.

What’s more, we show you how existing ShipNet customers can do this for FREE; more can be found on this lower down in the article here.

So let’s get started.

1. Reduce Bunker Fuel Costs through Data Analysis

Bunker Cost Analysis Dashboard

To reduce your Bunker Fuel Costs effectively, you need to be able to perform a detailed analysis of where your previous costs have come from.

By comparing your Bunker Fuel data by time, ship, and type, against historical prices and trends will help you better understand your Costs & Consumption. This analysis enables you to make more informed decisions when forecasting and choosing your Bunker Fuel Prices more cost-effectively in the future.

Bunker Fuel Cost Analysis is available as a Free Dashboard in the ShipNetOne Commercial XE platform, to learn more on our Free Dashboard Pack Click Here.

2. Reduce Port Costs through Data Analysis

Port Cost Analysis Dashboard

Similarly to Bunkers, to maximize the reduction of your Port Costs, you need to be able to perform analysis on where your previous costs have come from.

By comparing Port Costs by time, purpose, and area to understand historical trends, will guide you in making optimal decisions on port cost allocation for future voyages.

Port Cost Analysis is available as a Free Dashboard in the ShipNetOne Commercial XE platform, to learn more on our Free Dashboard Pack Click Here.

3. Increase Sailing Performance through Data Analysis

Sailing Performance Analysis

Finally, by ensuring your optimal sailing performance removes any wasted spend incurred. To achieve this, you need to compare your previous sailing data to understand the impact factors such as seasonal effects have on your performance.

Comparing your ships, their condition, their performance (including slip, speed, and consumption) and analyzing them over time and seasonal effects (i.e. wind strength), will help you to plan your future voyages optimally and cost-effectively.

Sailing Performance Analysis is available as a Free Dashboard in the ShipNetOne Commercial XE platform, to learn more on our Free Dashboard Pack Click Here.

Free Cost Management Analytical Dashboards within ShipNetOne Commercial XE

effective cost managamet with ShipNetOne XE

At ShipNet, we remain committed to helping our customers navigate these challenging times by delivering solutions that will continue to bring stability and effective cost management to their businesses.

We are keen to highlight to you the wealth of data that is available within the ShipNetOne Commercial XE platform, not currently exploited to your own company’s benefit.

We are offering FREE Cost Management Analytical Dashboards covering Bunker, Port, and Sailing Performance costs that can be deployed quickly within your solution.

When harnessed, these dashboards empower all users from across an organization to interrogate data within the solution to identify areas of excess cost, so that you can implement plans to make improvements.

Additionally, these cost management dashboards help users meet or improve reporting requirements, with minimal effort.

The dashboards display your data in a way that enables users to quickly and easily orientate themselves. Users understand their performance concerning business-wide targets in real-time, helping key decision-makers achieve the right outcome.

Easy Implementation

We are offering these dashboards free to existing customers as there are no obligations to purchase other modules or solutions, and no hidden installation costs.

The dashboards use standard libraries and supporting code, which means no professional service time is required as your users can install the dashboards themselves.

If you are a customer deploying our classic commercial (chartering & operating) solution, you can still benefit from these cost management dashboards. We can perform an unattended/remote upgrade of your solution to the ShipNetOne Commercial XE platform (the latest version of ShipNet).

The upgrade will give you access to the cost management dashboards, at just the cost of the services to upgrade. Contact us for more information.

Customize Your Cost Management Dashboards

These dashboards can not only be deployed easily by your company but can also be customized easily by your team. You can build out a unique look and feel for the dashboard that works best for you, helping to build internal skillsets and knowledge.

Additionally, we will be shortly launching a new web client to our customers, enabling us to host our dashboards. Non-ShipNet users within your business will gain access to critical performance dashboards and reports. You will be able to push out specific dashboards to specific users, making them available across your business.

Dashboard Packages

We are providing three tiers of dashboard packages to our customer base to help elevate the value coming out of the Commercial XE platform.

There are up to 150 dashboards available to users, offering insight into different areas of chartering and operations; You can learn more here.

Pack of 3

FREE

What’s included in the plan:

  • ✅ Cost Management
  • ✅ Bunker Cost Analysis
  • ✅ Port Cost Analysis
  • ✅ Sailing Performance

Pack of 15

$5,000

Whats included in the plan:

  • ✅ Cost Management
  • ✅ Bunker Cost Analysis
  • ✅ Port Cost Analysis
  • ✅ Sailing Performance
  • ✅ Chartering Insights
  • ✅ Operations Insights
  • ✅ Pick upto 150 dashboards

Subscription

£18,000

Whats included in the plan:

  • ✅ Cost Management
  • ✅ Bunker Cost Analysis
  • ✅ Port Cost Analysis
  • ✅ Sailing Performance
  • ✅ Chartering Insights
  • ✅ Operations Insights
  • ✅ All 4 Dashboard Packs
  • Including New 2020 Dashboards

Read the De Poli Case Study for more information on the analytical capabilities of ShipNetOne Commercial XE and how it is empowering decision making for our customers.

Additionally, please reach out to your account manager or me for more information on how your company can deploy these Free Cost Management Dashboards.

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Maritime Software Solutions
John Wills
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