Don’t Forget About Performance!

The Tres team recently completed several weeks on the road, speaking with existing and potential customers about vessel performance. We found some interesting commonalities during these conversations that you may want to hear…

How do you manage the wave of responsibilities in shipping?

The Tres team met with over twenty ship owners and technical managers in the last few weeks to discuss current views on vessel performance. This topic is gaining significance as fuel prices look set to increase, without the same robust uptick in charter rates.

A number of key themes emerged during the course of these conversations:

  • Dedicated performance teams are uncommon, which creates challenges in continuous optimization
  • “Performance” is not consistently defined or understood
  • Most solutions (in-house or external) only scratch the surface of performance, so owners/managers are limited in what they can optimize or typically have to pull together multiple solutions
  • There is an increasing trend to collecting data via sensors but that data is still not widely being used for performance analysis and improvement

We plan to touch on all of these topics in the coming months, but we’ll start with the first point in this post. After all, it’s often this factor that challenges progress in the other key areas.

Dedicated performance teams are uncommon

Few companies have dedicated performance teams, so responsibility for improving performance requires a coordinated effort by often overloaded operational and technical groups. This means that performance is not consistently monitored – when the inevitable “fire drill” happens (it’s unavoidable), performance takes a backseat as team members have no choice but to prioritize the current need.

In fact, even when there is a dedicated performance group, these teams are very “lean”, which makes full fleet monitoring and optimization very daunting.

These realities mean that performance analyses are often carried out well after the fact, which often leaves more questions than answers. Performance improvement thus becomes an afterthought, not because it’s not important, but because there are naturally so many responsibilities that teams are expected to juggle.

Some companies realize the importance of consistent monitoring and feedback, thus invest externally or internally to ensure they are optimizing fuel consumption, machinery utilization and daily running costs. As fuel prices rise and competition intensifies, these companies will inevitably separate themselves from the pack.

Which category do you fall into? Do you have the tools and/or processes in place to consistently monitor and optimize performance or do you struggle to keep up because of the increasing demands on your time and limited resources?

A lot of companies self-admittedly fall into the latter classification, so with this in mind, the Tres team developed holistic options to address a variety of customer needs.

Given our previous whiteboard video shattered some viewership records (Source: Me), we decided to do it again! This video simplifies how we work with our customers to hone in on vessel performance and make more informed decisions.

Conclusion

Whiteboard videos are awesome…

…Also, performance improvement needs to be a continuous effort. Without a dedicated, consistent approach to monitoring and optimizing performance, you risk leaving a lot of money on the table. By simply increasing interactions with vessels, following up on reporting daily and providing real-time feedback on performance, we’ve seen quick wins in terms of hull performance, trim optimization, machinery utilization, CP compliance and other high impact areas.

You may not have the dedicated team but that doesn’t mean that performance has to suffer. If you want to learn more about how we can help enhance your monitoring and performance optimization capabilities, click here or email connect@tressolutions.com.

* Note: The email info@tressolutions.com is no longer active. Use the email ID above to connect with us.

You might also be interested in

Tres Releases IMO 2020 Module

TVA releases a new Bunker Planning module for TVA, ahead of IMO 2020.

Our favorite features from 2018

Back by popular demand, we’re recounting our favorite product and service features from 2018.

Tres Featured in VPO Global Magazine

VPO Global recently published a thought leadership piece, which has received rave reviews

Subscribe to Tres News

Stay on top of our latest ideas and insights.