VPS launches CORE software to close the emissions gap for shipowners
VPS-owned Yxney Maritime has launched its CORE emissions tracking software aimed at enabling low-carbon shipping players to reach their green goals and gain a competitive edge amid growing market and regulatory pressure, with Solstad Offshore and Siem Offshore taking the lead, according to the company's release.
The emissions monitoring and forecasting tool will harness data from a total of more than 100 vessels across the global fleets of both Norwegian shipowners to augment their existing VPS suite of Maress and NOxDigital solutions geared to data-driven decarbonisation.
The pair of companies are taking the digital initiative to get ahead of possible regulations to curb ship emissions in the offshore sector as well as counter higher fuel costs due to Norway’s CO2 tax and the likely implementation of the EU’s Emissions Trading Scheme for shipping from 2023.
In the maritime sector, looming CII and EEXI regulations are set to enter into force next year that will shift the market landscape and give an advantage to proactive players able to progressively cut their emissions in line with these new carbon-intensity requirements.
The CORE solution helps companies to underpin a culture driving emission reductions and to turn carbon intensity from an operational metric into boardroom-level insight on company and market decarbonisation efforts.
CORE interprets CII and CII equivalents as a score related to the emissions-saving goals for 2030 compared with 2008 as a baseline - or the ‘coreScore’ - that effectively gives industry stakeholders a comparative ranking of different companies’ efforts to reduce their emissions.
The software also makes it possible to plan for various emissions reduction initiatives for the fleet - such as installation of hybrid battery power, sails or use of biofuels - as well as assess their emissions impact, estimated cost and return on capital to enable scenario planning for optimal investments.
In addition, CORE offers a library of measures to determine current and future emission trajectories for different vessels that can be shared with other shipowners to improve the industry’s overall performance.
The collaborative approach adopted by Yxney Maritime also extends to the CORE software that is designed for interaction with multiple users and data-sharing across different stakeholder groups through a user-friendly visual interface.
