BW Group and Miros Launch JV to save fuel, reduce emissions

Source: press release, 4 March 2021

Miros Mocean – Digitised Ocean
Miros Mocean – Digitised Ocean (illustration: Miros Mocean)

BW Group and Miros are launching Miros Mocean, a joint venture to provide the shipping industry with a new standard in vessel performance optimisation. BW Group and Miros are combining maritime expertise and leading radar technology to overcome the performance inefficiencies of the shipping industry by providing unprecedented data accuracy into the operating conditions of a vessel, a missing piece in vessel performance until now.

The lack of reliable information on performance in actual operating conditions leads to highly variable performance data [1] and built-in tolerances in the legal contracts between owners and charterers. This lack of precision in vessel speed control and lack of accurate weather data are the largest known factors contributing to suboptimal vessel performance, leading to excess fuel oil consumption and CO2 emissions.

Says Remi Eriksen, DNV Group President and CEO, “Decarbonising the shipping industry is the grand challenge of our time. International regulators and other key stakeholders have set clear and ambitious goals for emissions reductions, and for the industry to progress, accurate measurement and reporting of emissions data will be important. As custodians of the sea, we as an industry have a duty of care to ensure that decisions are made based on the best possible data.”

Michael Parker, Chair of the Poseidon Principles Association, says, “Now that we have established what we need to measure under the Poseidon Principles, it is important for the industry to keep improving accuracy and reliability by accounting for factors such as weather conditions and other operating parameters.”

BW Group’s own experience with Miros’ technology underpins the joint venture, with more than a year of cooperative development behind the offering.

“To be able to understand if an investment is truly optimising the performance of your vessel, you need to account for weather,” says Christian Bonfils, Managing Director, BW Dry Cargo. “The technology Miros Mocean introduces is what we at BW Group had been looking for. It gives access to accurate speed through water and weather data at the precise ship location and combined with fuel flow and main engine power meters we can quantify fuel savings of up to 10% on a single voyage. It has also helped to change the legal contracts to actual performance instead of warranties, setting the standard for the future of this industry.”

Miros Mocean combines fuel oil consumption and main engine power measurements with real-time accurate environmental conditions at the vessel’s actual location. This allows vessel owners and operators to:

  • Make real-time decisions about the operation of vessels with the objective of saving fuel and reducing greenhouse gas emissions.
  • Integrate highly accurate weather data into their existing vessel performance systems [2] for further performance enhancements.
  • Optimise charter party contracts by using the measured performance of a vessel rather than warranties.

In this way, Miros Mocean provides real-time decision support for the enablement of performance optimisation, fuel savings, reduced carbon emissions and documentation of true weather conditions to remove uncertainty from claims. Miros Mocean’s vision is to give the shipping industry accurate and relevant performance data to optimise costs and create a transparent, collaborative, and greener shipping industry for the future.

Notes:
[1] International Transport Forum | Decarbonising Maritime Transport | Pathway to zero-carbon shipping by 2035 Page 57.
[2] Miros Mocean integrates with any third-party vessel performance system.