Leading dry bulk carriers use Sofar Ocean’s Wayfinder platform to keep their vessels safe and access daily optimized voyage guidance that saves fuel, time, and emissions.
In the first half of October 2023 arrival window, a sampling of Capesize vessels following Wayfinder’s variable RPM and waypoint recommendations saved an average of $62,000+ per voyage across dozens of ballast and laden legs between Brazil and China (Baltic Dry Index C14). Average total equivalent fuel savings exceeded 8% and average emissions output fell by 270 MT of CO2 per leg driven by weather upside capture.
The third week of October also saw sustained momentum following the increase in Capesize rates for the Brazil to China iron ore routes – with freight rates at around $24/tonne, a 28% increase over September. The higher rates further enhanced the profitability for any Capes optimizing with Wayfinder over this period. These multiplier outcomes are possible because of Wayfinder’s dynamic approach to voyage optimization with superior weather forecasts. Wayfinder sends continuous commercially optimized guidance to vessels throughout a voyage. Just as Google Maps analyzes the latest traffic and gas price information before it recommends a new route, Wayfinder considers the latest weather forecasts and market factors before it sends a daily RPM recommendation or issues new waypoints from amongst hundreds of millions of options. This dynamic approach outperforms the “set it and forget it” sailing strategies, like constant power, that other platforms recommend.
At the core of Wayfinder’s optimization engine are Sofar’s best-in-class weather forecasts. These forecasts assimilate the real-time data collected by Sofar’s global network of ocean sensors, and are up to 70% more accurate than the traditional, satellite-based models used by other platforms. By employing superior forecasts that incorporate real-time weather observations made along a vessel’s route, Wayfinder advises vessels to speed up, slow down, or change course to minimize voyage costs and emissions.