The fleet owners , through marine fuel management , can track actual fuel consumption in correspondence with the operations of the vessel .
Complete analysis of effective operating strategies and clear understanding on how the vessel uses its fuel can be achieved by marine fuel management systems . The system helps marine crew to keep watch on all the fuel tanks levels right from the vessels bridge and control room . The total cost of marine fuel accounts for 60 % - 70 % of the vessels operating cost . Rising prices of marine fuel and strict environmental norms have led to higher focus on energy efficiency and environment protection . The system thus increases fuel efficiency and also helps save money for the fleet owners .
The marine fuel management system helps compare the amount of fuel taken on board with the actual consumption of each engine or generator . The systems also actively includes other factors like fuel theft detection and illegal transfer , fleet management and viscosity control and cargo delivery verifications . Marine fuel management systems monitors , measures and reports fuel consumption rates daily .
Global Marine Fuel Management Market : Research Methodology
In order to compile the research report , we conducted in-depth interviews and discussions with a number of key industry participants and opinion leaders . Combination of top down and bottom up approach has been used to estimate the market size . Prices considered for the calculation of revenue are average prices of the marine fuel management equipments and devices , which have been obtained through primary and secondary quotes from numerous ship-builders , ship and vessel owners , vessel caterers , marine crew , and other shipping contractors . Impact of factors such as environmental regulations , influence of commercial availability of crude oil , crude oil price index , key investments , geo-political factors , strategic petroleum reserves ( SPRs ) of trading countries , and other minor factors affecting the global marine fuel management market have also been taken into consideration while deriving the final market numbers .