The future of shipping lies in having the technological expertise to measure vessel performance in order to achieve optimal fuel efficiencies and support regulatory demands. Given the increasing fuel costs and environmental pressures on compliance, freight rates are now very close to operating costs, leading to razor-thin margins, and, in many cases, operating losses. It is not surprising that given the confluence of business conditions in the maritime industry, companies are finding themselves in troubled waters and many facing extinction unless vessel management is accompanied by a more intelligent approach to achieving operational efficiencies.
Officer of the Watch 