How to improve transparency in chartering?

Performance is everything

Performance, as we like to say, is everything.

Increase performance and you reduce emissions, save costs, improve reliability, and ultimately better please your customers.

One year ago, leading charterers launched the Sea Cargo Charter, aimed to provide a global framework for aligning chartering activities with responsible environmental behavior to promote international shipping's decarbonization.

The aim is to request information from owners that will allow annual reporting of how much fuel is consumed per metric tonne of cargo loaded. This is in line with how we see the market developing, where more and more charterers are asking owners to cooperate in bunker consumption monitoring so that they can better understand what drives performance and emissions and therefore decrease these vessels’ fuel consumption and emissions.

These charterers have clearly embarked on a mission, by collecting operational data, aiming to increase performance. They have correctly concluded that there are enormous differences between the best and worst-performing vessels, and now they are rightly demanding transparency. Simply because they are environmentally conscious, but also they don't like paying more in fuel than they have to.

Full transparancy in vessel performance

So ask yourself: Isn’t transparency in vessel performance something we should be demanding of all chartered ships? The costs are relatively low compare to the surging charter rates and bunker prices, the technology is proven, and comes with the advantage of no hardware installation or off-hire costs.

At We4Sea, we have already started to enter a new era for transparency in chartering. This will require scalable solutions, which are easy to use without requiring the owners to install expensive hardware. We and our clients are heading for a future in which the benefits of data transparancy and voyage optimization are used to the max.

Want to know how you can improve data transparency and have full visibility on the performance of your chartered fleet?  Start a pilot on one of your vessels!