METIS introduces new CPA monitoring module

(Posted on 12/11/20)

 METIS Cyberspace Technology S.A. has launched a new software module to tackle the huge challenges shipping companies face in monitoring vessel performance effectively to meet Charter Party Agreement (CPA) reporting needs. The new module, announced today, addresses the challenge with functionality that will greatly enhance the productivity of both operations and chartering departments.

The new module allows operators to monitor and track their vessel's CPA performance at a glance through the online METIS platform using a set of visually rich dashboards. Once all CPA terms are imported into the system the user can monitor all vessels concerned and identify potential deviations to specified consumption and speed terms. In addition, the system provides automated notifications in case the speed consumption curve exceeds certain predefined limits.

“Monitoring performance to match CPA expectations is one of the biggest challenges a vessel owner can face,” says Mike Konstantinidis, CEO, METIS Cyberspace Technology. “The CPA module means the right information is always available during the voyage to take corrective actions and at the end of every voyage for performance evaluation and to address any potential claims.”

Konstantinidis adds that the analysis used is based solely on data collected automatically through METIS Ship Connect, the data acquisition system developed by METIS whose accuracy is approved by Lloyds Register. “The analysis involves the utilization of weather data, vessel manoeuvring states and all other remarks included in the CPA, to provide a holistic view of the vessel’s compliance,” he adds.

METIS Cyberspace Technology specializes in Data Acquisition, Real-time Performance Monitoring and Intelligent Analytics for the Maritime Industry, based on advanced Machine Learning and Artificial Intelligence techniques. Based in Athens, the core of METIS is its team of skilled engineers and researchers whose innovative thinking, maritime business know-how and expertise in high-end technologies are empowering shipping’s digital transformation. Established in 2016, METIS is majority-owned by maritime-focused environmental engineering group ERMA FIRST.

Latest News

Torvald Klaveness consolidates groupwide digital solutions

Torvald Klaveness has announced the decision to consolidate all digital services under Klaveness Digital... Read more

INTERCARGO reaffirms call for simplicity as IMO climate talks intensify

The International Association of Dry Cargo Shipowners (INTERCARGO) has renewed its call for straightforward... Read more

The Swedish Club reports strong 2024 results

The Swedish Club has delivered strong results for 2024, posting a USD 34 million profit and significantly... Read more

NORDEN adds two newbuilding Capesize leases with purchase options

In line with NORDEN’s positive long-term outlook for Capesize freight rates, the company have... Read more

Enhanced data collection for Western Bulk

OrbitMI, a global provider of maritime software and data products, has expanded its workflow capabilities... Read more

ClassNK appoints new President & CEO and Executive Vice President

Current ClassNK Senior Vice President Hayato Suga has been appointed as President & CEO as well... Read more

ASL sees continued surge in demand for Cape Size carriers

The surge in demand for Cape Size bulk carriers will continue for another six weeks, driven on by increased... Read more

Partnership to enhance compliance and emissions management

OrbitMI, a leading provider of maritime SaaS software, has announced that Istanbul-based Statu Shipping... Read more

INTERCARGO statement on loss of seafarers in Odesa bulker attack

“The International Association of Dry Cargo Shipowners (INTERCARGO) is deeply saddened by the... Read more

DNV white paper on adoption of ammonia and hydrogen fuels

As the shipping industry continues its transition to carbon-neutral fuels, ammonia and hydrogen are... Read more