Maersk Tankers uses its proprietary methodology Bunker Adjustment to distribute payments to pool partners according to the bunker consumption of their ships compared to the pool average. Lloyd’s Register reviewed the methodology, confirming its conformity to recognised industry quality standards.
The Bunker Consumption methodology calculates how much fuel each pool ships consumes in relation to the pool average and enables Maersk Tankers as a pool manager to distribute payments to pool partners accordingly.
Independent subject matter experts from Lloyd’s Register have carried out an audit of the Bunker Adjustment calculation engine and concluded that it conforms with established methodologies and published international standards, such as ISO 15016:2015 and ISO 19030:2016.
Bunker Adjustment rewards good operational performance and offers a healthy return on investment to pool partners that invest in the fuel efficiency of their vessels, which they can do for instance through applying anti-fouling hull paint or training their crews to operate the vessel in a fuel-efficient way
Maersk Tankers said.
The data that goes into the methodology is also used to evaluate each vessel’s saving potential. For this reason, Maersk supports pool partners to take the right actions to improve fuel performance and the pool partners’ earnings.
In addition, Bunker Adjustment uses data which is normalised to remove the impact of speed, draft, cargo handling and weather from a vessel’s performance. With this, the actual performance of all vessels is analyzed under the same conditions.
The methodology began in August 2015, while its backbone is calculated by the external performance provider Vessel Performance Solutions (VPS). Maersk Tankers combines naval architectural practices with the pool distribution to compare the vessels’ performance by equal standards.
Through Maersk Tankers’ pool partner platform InSite digital, partners can compare the actual consumption of their vessel with the optimal consumption which contains vessel specifics. This aims to help partners enhance their ships’ potential and increase their earnings.