New CO2 emissions tool launched
New update on the Signal Ocean platform offers independent complement to TCE ratings.
The Signal Group has announced that a new update on their Signal Ocean platform allows tanker and dry bulk participants to assess their CO2 impact. The service, used by owners, traders, and oil majors, is a valuable tool designed to assist their chartering decisions. Alongside the Time Charter Equivalent (TCE), the upgrade provides an independent estimate of emissions.
The program’s analytical capability considers ballast legs, deviations, vessel size, age, speed, loading conditions, yard, scrubbers, and the type of fuel used. Signal’s COO Dimitris Tsapoulis said: “We’re proud to be helping raise awareness of emissions at a critical stage of the ship selection process…we have created a tool designed to help those charterers and brokers who want to compare their vessel options on a range of criteria, not just cost competitiveness.”
The accuracy of the program will be further enhanced in 2021 by the addition of factors such as engine type and hull shape. Other upgrades planned will include the addition of historical data and sulphur dioxide and nitrogen dioxide estimates. Launched in 2018 the platform is already used by over 80 companies to assist their planning operations and covers crude and product tankers, from Handysize up to VLCC, and dry vessels from Capes down to Handysize.
