Rightship’s CEO Warwick Norman Discusses Efficient Shipping [INTERVIEW] - gCaptain

Posted - By Rob Almeida On May 15, 2012 - gCaptain

Ranking ships according to their efficiency is an interesting concept, one that is currently still being fine tuned.  Ship vetting specialists at Rightship have developed something called the Existing Vessel Design Index (EVDI) which provides ship operators and charterers a method of comparing existing vessels with tangible efficiency figures.
In a recent interview with Rightship’s CEO, Warwick Norman, he notes,
Our customers want to find the most efficient vessels.  Our large corporate customers have strong commitments to the environment, and the freight areas are also looking at how, within their own activities, they fit within those corporate requirements.  In response to this, we developed the EVDI which allows a customer to look at a particular vessel and find the best one within that particular size and type so that they can make the right decision around vetting and selection criteria.
RA: How much difference are you finding within a particular vessel class in regards to efficiency?
Quite significant.  As we went through the building process, one of the flaws we found is that it’s unfair to compare a 20,000 DWT vessel to a 200,000 DWT vessel.  The EEDI tries to do that, so we took that methodology to look at a particular vessel, and measure 200 similar vessels on either side of it, apply some standard mathematical and standard deviation approaches, in order to determine which is the most efficient vessel within that particular group.
When a charterer or shipping company is looking at a particular vessel, say a 150-155k DWT vessel, he’s not really interested in how efficient a 200k DWT vessel is going to be or a 120k DWT vessel, and so we have to design this tool so that it looks within a smaller pool of vessels and determines which vessel is the most efficient.
It also isn’t necessarily just about that one particular vessel either.  Over the course of a year, the customer might want to say, “we need to reduce our emissions per ton nautical mile by 5 or 10 percent.”  This tool then allows them to do that.  If the best vessel both commercially, and from a position point of view, is not as efficient, you’ll know what you need to do in order to meet specific efficiency targets the next time it comes to charter a particular vessel.
 
 Complete Post at:
http://gcaptain.com/carbon-room-influencing-shipping/?46325