The Veson IMOS Platform offers several features and data solutions for understanding and reducing carbon emissions. These features are a part of Veson’s two-fold approach to sustainability, which consists of empowering our users to make more sustainable decisions daily and collaborating with stakeholders (internal and external partners) to drive decarbonization in maritime shipping.
The following areas and modules in the system either include or will include sustainability-related enhancements to accommodate multiple workflows and processes:
You can set up fuel information and carbon factors in Fuel/Lube Types and utilize the Fuel Zones functionality with the IMO 2020 checkbox to ensure a more flexible fuel consumption. Use the Fuel Grades in the Data Center to set up backup fuel grades in the Compliance Breakeven calculator.
We have also enhanced our Estimates tool to include a CO2 calculator with emissions metrics and ratings, Speed Comparison Analysis, and Carbon Expenses.
The Emissions tab in Time Charter In and Time Charter Out contracts, Cargo COA, and VC IN COA contracts allow you to capture contractual details agreed to with the counterparty regarding how emissions expenses will be settled over the life of the contract.
The Sustainability Panel in IMOS allows you to view key metrics that determine a voyage's carbon intensity and add additional emissions data.
We developed emissions expense features to estimate costs related to carbon expense management as imposed by governing bodies or counterparties in some cases. Use the Carbon Calculator in the Voyage Manager to incorporate FuelEU and EU ETS modifiers and apply a price to carbon emissions.
The EU ETS Calculator article reviews EU ETS modifiers in the Carbon Calculator, such as the phase-in logic, ETS percentages for sea and port consumption, outermost regions, EU ETS exclusions, and more.
The FuelEU Maritime Calculator aids in commercial decision-making regarding FuelEU's impact. The FuelEU calculation breaks down Consumption, Energy, GHG Intensities, and Compliance Balance by voyage leg and displays total Energy, Compliance Balance, and Penalty amounts.
Use the Fuel Modes feature to define multiple sets of consumption rates on a vessel to estimate bunker consumption more accurately.
In the Operations Module, we have enhanced the Voyage Manager to include the Sustainability Panel, and the ability to enter emissions data and track emissions costs. Use the Carbon Calculator in the Voyage Manager to incorporate FuelEU and EU ETS modifiers and apply a price to carbon emissions.
The Lifting Level Emissions Workflow shows you how to configure emissions factors for FuelEU and EU ETS calculations on the bunker liftings level. In the Bunker Purchase form, you can capture fuel emissions factors, allowing you to track biofuels with varying emission factors. The emissions factors are considered when making calculations using the Carbon Calculator.
We are currently looking to enhance Vessel Valuation features and Trading & Risk areas of the system to provide emissions visibility into the pre-trade market analysis.
The Carbon Exposure enhancement allows you to capture and track your carbon exposure on Cargo Contracts booked past January 2024 to align your risk to the upcoming EU ETS regulation.
The Capturing and Tracking EUA Futures enhancement allows you to European Union Allowance (EUA) Futures trades and other Carbon Futures trades in the Veson IMOS Platform.
Use the Carbon Allowance trade type to track their value against the market, link them to physical contracts, and account for them on your balance sheet.
The Emissions Expense Workflow covers EU ETS contract changes, the workflow used to track these changes, and the impact they will have on the Voyage P&L, including the following enhancements:
IMOS supports accruals handling carbon expenses and the financial settlement for allowances.
Time Charter Contracts now have cash settlement and allowance transfer workflows.
The allowance inventory aligns with what is budgeted versus what is available for allocation, showing the current balance at any time.
The Invoicing FuelEU Maritime Costs workflow outlines specific steps to capture FuelEU costs in your Time Charter (TC) Invoice or Freight Invoice.
Any voyages with cargo operations in an EU port will have an associated emissions expense. Use the Emissions Expense Workflow to determine the applicable emissions expense based on the routing and timeframe.
Veslink Voyage Reporting remains unchanged, providing ship-to-shore bunker consumption information directly to IMOS.
With the Oceanbolt and PortLog integrations, we provide features that give visibility into port congestion statistics. This feature helps to avoid long wait times and assists in the decision-making process, thus reducing CO2 emissions.
The Report Designer now has new tables, Voyage Emissions and Voyage Emissions Detail, where voyage emission data can be reported for various purposes, including sharing the data with counterparties.
Tables:
Voyage Emissions - refers to the Voyage Manager>Sustainability Panel > Emission Data table
Voyage Emissions Detail - refers to the Voyage Manager > Sustainability Panel > Emission Data table
Fields: EEOI, Voyage AER, CII Rating, ETS CO2 Cost, ETS CO2 Price, ETS CO2 Currency, ETS CO2 Exchange Rate, ETS CO2 Quantity
A pre-built report is available in Operations > Expanded Menu > Performance Reporting > EEOI Reporting
Produces a report highlighting a single vessel, fleet, or vessel type’s fuel and CO2 emissions for a specified period.