Promatech, an R&D company that provides innovative technological products to the Maritime and Shipbuilding Industry, has revealed that the CLOUD-VAS Research Project has run sucessfully for five months.
The project, coordinated by Promatech, aims to help oil and gas companies and ship owners make decisions on which ships to charter, saving on chartering costs and reducing fuel consumption and therefore CO2 emissions.
The Cloud-based Vessel Allocation Decision Support Tool was established in June 2015 with the aim of developing a cloud-based service platform to allocate ships to multiple routes, saving time and eliminating the use of error prone solutions. Unlike currently available solutions that deal with vessel allocation, CLOUD-VAS is the first project that considers both the optimisation of fuel emissions and the environmental impact to help the maritime industry reduce energy consumption and CO2 emissions.
CLOUD-VAS software can be accessed at any place and at any time and aims to help solve the Vessel Allocation Problem (VAP), a widely known managerial problem for transportation companies that rely on maritime shipping for transporting liquid bulk such as oils, gas, chemicals, containers and other dry bulk.
Current VAP practice by oil and gas companies does not consider environmental impact and fuel emissions during the allocation phase, and therefore this tool provides a vital resource to ensure that these factors are included as part of the decision making process.
The CLOUD-VAS project is funded under the Horizon 2020, an EU Research and Innovation Programme with nearly €80 billion funding available over 7 years. The project officually began on 1st June 2015 and final results are expected in June 2017
