Loss Control

Cargo volume discrepancies are inherent to the maritime movement of oil and can significantly affect overall profitability if left unchecked. Loss control groups are responsible for minimizing and controlling loss through monitoring, verifying measurements and attaining compensation for excessive losses. If you work in oil loss, identifying high loss voyages, determining the leg of the voyage where the loss occurred and initiating corrective action is a key part of day-to-day operations.

Navarik Inspection™ collects the key measurement data on the custody transfers of crudes, products, chemicals and LNG. Losses are automatically calculated and instant notifications are sent if the quantity actuals fall outside an acceptable range. Navarik Inspection generates a 4-point oil loss analysis upon completion of every voyage. This method of calculating and identifying loss claims eliminates time-intensive manual reconciliation and reduces the risk of potential loss claims going unnoticed or getting miscalculated. The 4-point oil loss analysis highlights:

• Shore-to-ship difference at load
• In-transit loss
• Ship-to-shore difference at discharge
• Shore-to-shore overall summary

Navarik Inspection™ not only collects the key measurement data on custody transfers of crudes, products, chemicals and LNG, but also proactively ensures the right quality tests and methods are conducted that validate the accuracy of the results. Quality actuals are automatically compared to the original requirements and instant notifications are sent if the results from any of the tests fall outside the buy or sell conditions. With all the data at your fingertips, Navarik Inspection™ aids the investigation of problem cargos and ultimately leads to the reduction and faster settlement of off-spec and loss incidents.

Navarik VEF™ is a service that centralizes, the collection, validation, and calculation of Vessel Experience Factor (“VEF”) record keeping. This service is the first industry-focused offering to provide a comprehensive repository of the data required to calculate an accurate VEF where customers can review a common set of information.