Wayfinder delivers dynamic voyage optimization that saves vessels time, fuel, and emissions. Maritime shipping giants like MOL Group trust Wayfinder to continuously identify a vessel’s most efficient route and speed, and to help supercharge long-term decarbonization strategies.
Wayfinder uses highly accurate marine weather forecasts powered by the world’s largest privately-owned network of ocean sensors. Wayfinder’s forecasts are up to 50% more accurate than existing forecasts, an advantage that reduces weather uncertainty for carriers and increases vessel performance model (VPM) accuracy. Wayfinder’s guidance accounts for variations in weather, market, and vessel performance, ensuring that ships always stay on the most efficient path to port.
In Q3 2024, Wayfinder delivered impressive savings for dry bulk customers. A sampling of capesize vessels following Wayfinder’s daily RPM and waypoint guidance saved an average of $29,750 per voyage. Across 50+ ballast and laden legs between Australia-China (Baltic Dry Index C5) and Brazil-China (Baltic Dry Index C14) — two major iron ore routes — the capesize vessels reduced average total equivalent fuel consumption by 5.5% and average emissions output by 126 MT of CO2.
These gains were a welcome windfall for the dry bulk sector, which faces an uncertain end to 2024. After three consecutive quarters of relative stability powered by “strong cargo demand and longer sailing distances,” the Baltic Dry Index steadily declined in October, dropping nearly 650 points to its lowest levels since January.1 2 Analysts, however, see signs of a short-term recovery. Consistently strong demand from China — importer of 39% of global dry bulk cargoes — combined with increasing iron ore exports and port congestion in Brazil, suggest that trade on C14 could power a price rally.3 4
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1 Trading Economics: Baltic Exchange Dry Index
2 Dry Bulk Shipping Market Overview & Outlook October 2024
3 Chinese seaborne dry bulk imports up 6% despite economic challenges
4 ‘Compelling narrative’: Brazilian iron ore exports offer ray of hope amid falling capesize rates
