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.