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Windward unveils AI-Powered Vessel fuel consumption API to enhance operations and expand Maritime trade Decarbonization

Windward Vessel Fuel Consumption API, a unique AI solution offering fuel consumption assessments

by The Business Pinnacle
0 comment

Windward, the leading Maritime AI company on Monday announced the launch of the Windward Vessel Fuel Consumption API, a unique AI solution providing fuel consumption assessments with up to 95% accuracy on average per voyage, and actionable insights. The solution is the state-of-the-art AI model in Windward’s decarbonization initiative, which allows shareholders to optimize chartering decisions and achieve their carbon footprint while increasing financial effectiveness.

The maritime shipping industry transports 90% of world trade and accounts for approximately 3% of the globe’s carbon emissions and this number is anticipated to increase, as maritime trade is projected to triple by 2050. To cut back on carbon emissions, numerous regulatory bodies require vessels to monitor and report their fuel consumption and emissions. At present, fuel consumption data is stated through noon reports, with the crew generally assessing and reporting data manually, making the report susceptible to human oversight and prospective falsification. Additionally, fuel accounts for up to 70% of a vessel’s expenses, and inaccurate reporting can trigger unintentional and avoidable expenditures.

Windward Vessel Fuel Consumption API – objective tracking of fuel consumption

Windward Vessel Fuel Consumption API provides an objective way to track and calculate the fuel consumption of any tanker across the globe more reliably and consistently, without the use of additional devices. This provides stakeholders, including charterers, shipowners, energy companies, and financial institutions – with total fuel consumption visibility for the main engines, auxiliary engines, and boilers of all tankers. Organizations can optimize their chartering decisions, negotiate better time charter equivalent (TCE) rates, monitor vessels for technical malfunctions, and norm different fleets, eventually leading to potential savings of 10 percent of fuel costs on average, including a derived reduction in carbon emissions.

With decarbonization regulation in flux, and the anticipated regulation of carbon intensity indices (EEXI), annual efficiency ratings (AER), and other variables changing every month, unraveling the fuel consumption mystery is the misplaced amount in interpreting data into tangible savings.

Decarbonizing the maritime industry

The first step towards decarbonizing the maritime industry is improving the visibility of vessels’ fuel consumption, said Ami Daniel, CEO, and Co-Founder of Windward.

Environmental concerns and ESG are primary goals for both companies and consumers. Windward is approaching the point of no return and providing accurate assessments of consumption is key in making business decisions that are both economical and more importantly, environmentally conscious.

Ami Daniel added that the team is delighted to use its maritime expertise and AI to contribute to the industry’s endeavors in creating a sustainable future and protecting the environment for future generations.

Windward Vessel Fuel Consumption API is created on a profound learning model that calculates and evaluates the fuel consumption of any prearranged tanker using multiple data sources, inputs, and behavioral topographies, comprising speed, meetings, port calls, hull fouling, weather conditions, fuel types, engines, 10+ years of historical voyage statistics, and more.

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