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KPIs are Key to Cost Reductions

You may have seen the announcement, reported on last week, that Maersk Line has saved almost USD$90 million on fuel costs in three years by measuring the performance of individual ships.

Key Performance Indicators (KPIs) were developed for each vessel by Maersk Line Vessel Management and Maersk Maritime Technology, which is in charge of the Maersk Ship Performance System (MSPS). For each ship, MSPS monitors and produces a scorecard for each ship’s KPIs.

Maersk reports that the KPIs have made it possible for the company to save 160,000 tons of fuel through higher propulsion efficiency. This does not include savings from other energy efficiency measures such as trim optimization or load reductions.

Want to know more?

KPIs will be a major theme at the Fleet Optimization Conference, which will be held in Stamford, Connecticut, October 9-10. Maritime Reporter and Maritime Professional are the media sponsors.

Frank Soccoli, ShippingInsight conference co-director, commented, “Rising bunker costs and increased regulatory requirements for emissions reduction are primary drivers for improving ships’ fuel efficiency. A critical element in developing strategies for efficiency gains is establishing, monitoring, measuring and reporting on KPIs. We will have panels of experts presenting the latest technologies, techniques and best practices for ship KPI management at the Fleet Optimization Conference.”

You can save money by registering online and taking avantage of early-bird discounts. Read the original post here.

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