Report : Save As You Sail (SAYS)

Shipowners face competition to charter out fuel-efficient vessels and are often unsure if investing in retrofitting their fleet will lead to an increase in profits, despite the availability of proven, cost-effective technologies. As charter durations get shorter, there are fewer opportunities to share investment with charterers, leading to a split incentive: a ship owner may invest the up-front capital to fit energy-efficient technology, but is not able to recoup the costs from fuel savings, as this goes to the charterers. This problem is particularly apparent for short-term time charters.

SSI worked to develop Save As You Sail (SAYS) as a robust financial package to enable both owners and charterers to benefit from efficiency upgrades with a transparent understanding of expected savings, and new financing facilities for fund upfront costs.

With some technologies providing a return on investment of 50% and more, there are sufficient fuel cost savings for the charterer, owner and finance providers to profit from the expected fuel cost savings.