Our Performance
SOLVANG PERFORMANCE
Annual Efficiency Ratio development (AER)
Effect of upgrade and EEXI modification
Solvang's 2022 situation with eight D vessels changed into two E vessels and the remaining C or better by the year 2024. If adjusted for operation/idling the two E vessels earn a B rating. Six LGCs and four ethylene vessels were dry-docked/ modified and EEXI certified in 2023/2024, giving full positive effect in 2024.
The total fleet improvement between 2023 and 2024 is 5 %, where the ethylene and LGC fleets represent the main improvements, also due to major upgrades. The sale of three older VLGCs since 2021 with a relatively high deadweight/cargo capacity ratio in CBM, contributes to an improved AER for the VLGC class, but negatively impacts the average for the fleet as a whole.
AER vs AER at sea 2024
The figure below clearly shows the effect of trading pattern, some of the ethylene vessel have very short voyages and the difference between AER and AER at sea is 11 %, while it for the VLGC which mainly do long voyages is 3 %.
Energy Efficiency Operational Indicator (EEOI)
48% reduction since 2009
EEOI measures the fuel consumption per ton-mile cargo transported. The improvement measured as EEOI is close to 50 %.
The introduction of new 88K VLGCs in 2026/27 is expected to further reduce EEOI.
The sale of three older VLGCs since 2021 with a relatively high dead weigth/cargo capacity ratio in CBM, contributes to improved AER for the VLGC class, but impacts the average for the fleet as a whole in a negative way.
Solvang energy consumption and GHG emissions
The total fleet emissions have increased due to expanded activity with more and larger vessels.
From 2009 to 2024
Average emission per vessel: – 21.5 %
Cargo capacity: + 21.4 %
Dead weight tonnes DWT: + 15 %
Environmental Ship Index (ESI) score 2024
Rating of environmental performance. Best possible score is 100 points. This shows that the five newbuilds on the right side perform very good, around 90 points. All vessels with scrubber technology perform well.
ESI identifies seagoing ships that perform better in reducing air emissions than required by the current emission standards of the International Maritime Organization (IMO)
Employee turnover 2013-2024
Turnover for CREW is retention rate - 100
Safety
Continuous HSEQ programme since 2009
TRCF - Total Recordable Case Frequency
Sick leave 2013-2024
Inspections 2019-2024
Flag & Port State control 2023
42 DNV inspections
0.2 observations on average
42 port state controls
1 observations on average
Due to special circumstances, one vessel had an average of 6 observations.
Internal inspections follow the fleet seize. External inspections by DNV and flag states are done in 5 year intervals.