Fuel Consumption Optimization in the Maritime Industry
In the maritime transport industry, the cost of fuel supply for vessels constitutes a significant portion of the total voyage expenses. In recent decades, various methods have been introduced to improve fuel efficiency, leading to a reduction in these costs. Reducing fuel consumption not only lowers voyage expenses but also decreases operational and maintenance costs for vessels.
On the other hand, fossil fuels are the primary source of greenhouse gas emissions. Therefore, increasing fuel efficiency (and ultimately reducing its consumption) has a direct impact on the environmental performance of vessels. In this regard, the International Maritime Organization (IMO) has set long-term goals to reduce the environmental impact of the maritime industry, requiring these industries to take pollution-reducing measures. Additionally, other environmental regulatory requirements such as EEDI, EEXI, EEOI, SEEMP, MRV, and DCS have gained increasing importance. In compliance with these regulations, strict rules have been imposed to control emissions. Part of these regulations requires vessels to adhere to specific standards for fuel optimization, where they must report their greenhouse gas emissions. If these emissions exceed the permitted limits, vessels may face heavy fines.
Marine engines used in commercial shipping generally run on the cheapest type of “bunker fuel.” Given the rising cost of fossil fuel procurement over time (from $170 per ton in 2002 to $700 per ton in 2014), fuel expenses can account for up to 60% of a vessel’s total operating costs. The high level of competition and excess supply capacity in the shipping industry, along with the continuous increase in fuel prices, have led to efforts to adopt various methods to enhance vessel fuel efficiency.