Vessel Performance Optimisation Forum Singapore initial speakers announced
Vessel Performance Optimisation Forum will be held 9 October 2018 at Grand Copthorne Waterfront Hotel, Singapore.
Higher fuel prices, tighter regulation, and a commitment to a greener future are changing the way the shipping industry does business. Greater insight into vessel performance is available through high-tech monitoring systems and digital twins, but it is vital to understand why a parameter is being monitored and what the data shows in order to adjust a vessel’s operation to make it more efficient and attractive to charterers.
The 2020 sulphur-in-fuel oil cap brings new challenges. Largely, the availability of fuel and the consequences to shipowners and operators if obtaining compliant fuel is not possible. With more fuel blends available to meet the 0.5 per cent limit, no two ports will supply the exact same composition of fuel. Even a slight change in quality between fuels can lead to substantial issues with engine performance and breakdown, as the recent problem in the US Gulf illustrates. The industry needs clarity on which fuels will be available and where they will be to make decisions now for 2020.
Ships may choose to retrofit scrubbers or covert to LNG to avoid the problem of low sulphur fuel availability. They require larger CAPEX investments, but OPEX may be lower as low sulphur fuel costs are expected to rise. Shipowners and operators must weigh up the options and understand which investments make financial sense and what financial assistance they may be able to obtain.
VPO Singapore 2018 will consist of three key sessions to identify and discuss the approaches to better ship performance through monitoring, fuel management, and financing technologies for change.
Confirmed speakers include:
- Mike Konstantinidis, Co-Founder and CEO at METIS Cyberspace Technology SA
- Chris Turner, Manager Bunker Quality and Claims at Integr8 Fuels
- Sammy Six, Marine Fuels Pricing Analyst, Argus Media
- Avinash Kadam, Managing Director, RK Marine Consultancy
- Bakkelund, Head of Shipping Asset Finance Asia, National Australia Bank
- Rajat Saxena, Manager Performance & Efficiency, Epic Gas
….And many more to be announced
Session 1: Monitoring and management for performance gains
Monitoring a vessel is essential to acquiring information about a vessel’s operation. Uncertainty on fuel availability and cost post 2020 sulphur cap means that it is vital for shipowners and operators to understand how to monitor for efficiency and regulatory compliance. This opening session will look at how the monitoring of vessels is advancing, how new data is being generated, and how the industry is learning to understand and use this data to calculate fuel savings and improve vessel performance.
Session 2: Fuel management and bunkering for 2020 compliance
With a cap on sulphur in fuel oil to enter into force in 2020, there is pressure on suppliers to ensure compliant fuels are available worldwide and pressure on owners and operators to obtain this fuel in good time. There is a risk of incompatibility when bunkering from different ports around the globe and the recent problems in the US Gulf with machine damage and breakdown due to contaminated fuel has raised this concern further.
This second session will look at the fuel availability market in 2020 and ask the question, will oil suppliers be able to meet the demand for low sulphur and ultra-low sulphur fuel? If this fuel is not available and ship operators cannot comply, will the IMO penalise them? The session will also discuss the option for alternative fuels, particularly LNG. While it is evident that LNG is gaining ground as a marine fuel, predictions from recent industry reports suggest marine scrubbers and low-sulphur fuel blends will be the primary compliance options. The session will address whether LNG will be a short or long-term strategy, and what the long-term outlook for alternative fuels like biofuel and methanol is.
Session 3: Investing for fuel efficiency
Rising fuel prices and tighter regulation means that fuel efficiency is imperative. However, technologies to improve efficiency and reduce emissions are expensive, while the retrofit process and additional training crew will need to undertake to operate them requires further financial investment. This last session of the day will look at the options available for financing fuel efficient and compliant ships, and discuss the cost vs benefit of retrofitting a scrubber, using low sulphur fuel, or converting a vessel to LNG – the three predominant strategies for 2020 compliance. The session will also address whether the financial infrastructure needs to change to support a fuels and emissions focussed shipping industry.
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