By Christian Rae Holm, Managing Director, Coach Solutions
Digitalisation presents both technical and philosophical challenges to the shipping industry. How can smaller shipowners improve vessel and fleet performance effectively – and can this be done by making better predictions about the future?
As for the first challenge, the answer is to seek a solution that fits your way of working; much will depend on the size of a fleet, its age and size profile.
This matters because it’s very easy to look at the current state of maritime digitalisation and conclude that change is happening too slowly. The problem from the buyer’s perspective is, do software and solution providers actually understand my business?
When it comes to prediction, we can’t promise to tell you where the market will be next quarter, but we can give you a simple, data-driven analysis that makes forecasting vessel performance more accurate.
We understand that many owners currently like to use the charterparty as the primary form of risk management rather than working with data which can help them anticipate with accuracy whether their ship will perform as predicted.
The problem with that is that you won’t know until the end of the voyage whether or not the vessel has performed against expectations. Being able to predict how a ship will perform in the expected conditions is a better position than hoping to avoid a performance claim by negotiating on optimistic CP terms.
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