BW Group, Miros Enter JV Aimed at Fuel-Saving, Emission Reduction

BW Group and Miros are launching Miros Mocean, a joint venture to provide the shipping industry with a new standard in vessel performance optimization. 

Miros Mocean is aimed at filling the void identified by BW Group and Miros, aiming to provide "unprecedented data accuracy into the operating conditions of a vessel, a missing piece in vessel performance until now," per the press release announcing the JV.

“Decarbonizing the shipping industry is the grand challenge of our time," said Remi Eriksen, DNV Group President and CEO. "International regulators and other key stakeholders have set clear and ambitious goals for emissions reductions, and for the industry to progress, accurate measurement and reporting of emissions data will be important. As custodians of the sea, we as an industry have a duty of care to ensure that decisions are made based on the best possible data.”

• Meet Miros Mocean

BW Group’s own experience with Miros’ technology underpins the JV, with more than a year of cooperative development behind the offering.

“To be able to understand if an investment is truly optimizing the performance of your vessel, you need to account for weather,” said Christian Bonfils, Managing Director, BW Dry Cargo. “The technology Miros Mocean introduces is what we at BW Group had been looking for. It gives access to accurate speed through water and weather data at the precise ship location and combined with fuel flow and main engine power meters we can quantify fuel savings of up to 10% on a single voyage. It has also helped to change the legal contracts to actual performance instead of warranties, setting the standard for the future of this industry.”

Miros Mocean combines fuel oil consumption and main engine power measurements with real-time accurate environmental conditions at the vessel’s actual location. This is designed to allow vessel owners and operators to:

• Make real-time decisions about the operation of vessels with the objective of saving fuel and reducing greenhouse gas emissions.
• Integrate highly accurate weather data into their existing vessel performance systems[1] for further performance enhancements.
• Optimize charter party contracts by using the measured performance of a vessel rather than warranties.

In this way, Miros Mocean is designed to provide real-time decision support for the enablement of performance optimisation, fuel savings, reduced carbon emissions and documentation of true weather conditions to remove uncertainty from claims. Miros Mocean’s vision is to give the shipping industry accurate and relevant performance data to optimise costs and create a transparent, collaborative, and greener shipping industry for the future.

1. Miros Mocean integrates with any third-party vessel performance system.