USA: Veson Presents Its LNG Module for IMOS

Veson Presents Its LNG Module for IMOS

Veson Nautical, the provider of maritime commercial management and trading software solutions, formally unveiled its LNG module for IMOS (Integrated Maritime Operations System), the company’s flagship product.

A complete solution for LNG voyage management, the module is the only one of its kind in the industry. The LNG module is just one example of Veson Nautical’s commitment to providing a standard platform that propels maritime commerce.

With roughly 370 LNG vessels currently in service worldwide, and 90 more on order or under construction, LNG transport is projected to increase more than 200% by the end of the decade. Roughly 20% of LNG vessels in operation are managed with IMOS, and the number is growing—hence the impetus for developing a distinct LNG module.

The newly unveiled module enables operators to manage the chartering, operations, financials, and freight risk specific to the LNG sector. Its features include:

  •  Capture of Fuel Oil Equivalent (FOE) LNG consumption in contracts, operations, and voyage financials
  • Consumption calculations based on configurable FOE speed/consumption tables with support for multiple consumption modes: LNG (natural and forced boil off), Dual Fuel, and IFO
  • Automated transfer of LNG data via electronic vessel reports to shore-based IMOS system
  • LNG vessel performance benchmarked against vessel/TCI/TCO consumption curves

The LNG market is very specialized with its own unique challenges, not the least of which is that an LNG tanker’s cargo becomes its fuel. The LNG module lets IMOS calculate the cost for that,” stated Jamie Sheldon, Product Director. “We created the LNG module in collaboration with clients in the market—as we have done with all our modules. The collective knowledge we gathered reflects the specific needs of the industry, not an individual company, which enabled us to develop IMOS as an out-of-the-box solution.”

The LNG module is the latest example of Veson’s response to an industry trend towards standardization. Veson’s IMOS helps streamline business processes, mitigate complexity and risk, and save time for companies in every sector of the industry with a platform so configurable that its workflow can adapt to almost any circumstance.

“Veson has worked with major players in all the verticals in the maritime shipping industry to make IMOS really robust. This group-sourced knowledge—now from our more than 150 clients worldwide—has enabled us to standardize work processes, in effect making all of IMOS an out-of-the-box solution,” said Jesse Dilanni, Professional Services Director. “At the same time, we are constantly innovating—with continued input from our clients—and staying ahead of the curve with the latest technology, the most relevant platform, and up-to-date functionality.”

IMOS is built around the way people work, enabling users to make better business decisions that ultimately maximize profits. Today the solution is comprised of core Chartering, Operations, Financials, and Trading modules, plus Bunker Management, Cargo Scheduling, Demurrage, Planning, Pooling, Reporting Database, Lightering, Veslink, Distances, and now the newest LNG module. The system also flexibly interfaces to other systems and market data feeds to suit client requirements.

Veson Nautical, March 21, 2013