Siglar Carbon launches a free and neutral tool for estimating and comparing emissions from tanker voyages. Using the Siglar Carbon Estimator to compare the carbon consequence of commercial decisions prior to fixing can unlock potential that lies within a commercial decarbonization of the shipping industry.
The Siglar Carbon Estimator models carbon emissions specific to each ship and voyage. The tool allows commercial shipping professionals to compare the carbon consequence of their commercial decisions prior to entering agreements. Cargo owners can use the estimates to plan voyages and charter ships whereas ship owners can do external benchmarking based on emissions performance.
The lack of transparent and comparable emissions data in the shipping ecosystem is preventing the industry from discovering efficient ways of reducing emissions. Siglar experiences that increased emissions insight amongst decision-makers on the commercial side of shipping paves the way for substantial emissions reductions.
“We are launching a free version of the estimator to help accelerate the commercial decarbonization of the shipping industry. We strive to create a common carbon language that can help the industry spot and cut emissions efficiently. Releasing the Siglar Carbon Estimator is one step in the right direction, and it can unlock great emissions reduction potential” says Sigmund Kyvik, CEO of Siglar.
Prediction-models are data-intensive, whereas neutral, comparable and granular fuel consumption and emissions data is scarce in the maritime industry. The quantity, quality and granularity of Siglar’s data is what sets their estimates apart from other predictions. 40% of global shipowners in the tanker segment and 20% of global spot voyages in the oil and gas market are reported to Siglar Carbon.
“We collect and process actual and detailed emissions data on a continuous basis. With our customers’ permission we use large datasets to predict future emissions with a high rate of accuracy”, says Siglar CDO Geir Olafsen and adds “Machine learning allows us to calibrate and continuously improve the accuracy of our estimates.”
Effective decarbonization starts with knowledge of emissions sources, and access to neutral ship and voyage emissions estimates provides new and common insight to the shipping ecosystem. Like any prediction model, the Siglar Carbon Estimator will improve as data develops.
“Customers already use the estimator and new features are under development. The free access allows more ecosystem professionals to speak the same language and the industry to develop the best possible tool to support carbon efficient chartering decisions,” says Kyvik.
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