$2 Million Saved Using Elios 2 for Oil Tanker Cargo Inspection
Marine Inspection Services, Ltd helped an oil tanker manager save $2 million by using the Elios 2 drone to inspect a cargo tank during a rare and highly profitable period for oil tankers.
Key Benefits at a Glance
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Safety Instead of sending an inspector into a dangerous environment, the Elios 2 was used to collect visual data from inside the cargo tank. This significantly reduced the risk of exposure to hazardous conditions, as traditional inspections required workers to stand on scaffolding at great heights. |
ROI The total savings from using the Elios 2 for the inspection amounted to around $2 million USD. Building scaffolding for a manual inspection would have cost about $400,000 and taken an additional eight days, resulting in $1.6 million in lost revenue at the time ($200,000 per day). |
Speed The Elios 2 completed the inspection in just two days, compared to the ten days typically needed for a manual inspection involving scaffolding setup and removal. |
Introduction
In March 2020, the daily rental cost for an oil tanker skyrocketed from about $25,000 USD to over $200,000 USD. This was due to a sharp increase in demand driven by a global shortage of tankers and the need to store large volumes of cheap oil amid the economic uncertainty caused by the pandemic.
Oil prices had dropped dramatically due to the impact of the pandemic, leading speculators to buy up oil and store it on tankers in anticipation of a price rebound. This created a surge in demand for tankers, pushing their rental rates to record highs.
For example, if an investment firm bought a million barrels of oil at $20 per barrel, and the price rose to $30, they could make a profit of $10 million—minus storage costs. This potential for high returns made tankers extremely valuable assets.
Customer Needs
As an oil tanker manager, the goal is always to keep the vessel operational and generating income. In March 2020, this was especially critical because of the high rental rates. Any delay due to inspections or repairs could mean significant revenue loss.
That same month, a management company noticed a defect in one of its crude oil tankers. To ensure safety and avoid environmental risks, a thorough inspection of the affected area and other potential problem zones was necessary.
A picture of the crack found in the cargo tank
A crack in the cargo tank could grow over time and potentially lead to a leak, which would require the ship to be taken out of service for cleaning, repairs, and possible pollution control measures. This could result in up to 10 days of downtime and costs exceeding $500,000 per defect, not to mention the lost revenue from not being able to rent the ship for $200,000 per day.
To assess the situation and plan for any necessary repairs without disrupting operations, the management company needed a fast and safe way to inspect the vessel.
Solution
Instead of going into dry dock, which would have been costly and time-consuming, the company hired Marine Inspection Services Ltd, a UK-based inspection company, to conduct the inspection using the Elios 2 drone.
The Elios 2, known for its collision tolerance and ability to navigate confined spaces, allowed inspectors to quickly gather high-quality visual data without the need for scaffolding or risking human safety. Marine Inspection Services has been using Flyability’s drones for over four years.
[Related read: What is a Maritime Drone?]
Results
The Elios 2 enabled Marine Inspection Services Ltd to confirm the presence of a crack and evaluate its severity. The drone's directional lighting and distance lock provided clear, detailed visuals that mimicked the experience of an inspector holding a flashlight.
"The Elios 2’s directional lighting and distance lock are very effective for determining the extent of damage when inspecting a crack. The lighting simulates an inspector standing there with a flashlight, providing depth and detail to the inspection," said Simon Ruddick, Director at Marine Inspection Services Ltd.
Inspectors also reviewed the ship’s blueprints to identify other potential areas where similar cracks might occur. Based on their expertise, they found two more cracks that had started to form, which could have led to future delays and repair costs.
This video highlights some of the key findings from the inspection conducted by Marine Inspection Services Ltd:
Conclusion
Before this mission, Marine Inspection Services Ltd already knew the Elios 2 was a powerful tool for saving time and money while keeping inspectors safe. However, the success of this inspection during such a high-stakes moment reinforced their confidence in the drone as an essential part of their workflow.
"For us, Flyability’s indoor drone technology has evolved from an interesting supplemental tool to an essential part of any inspection we conduct. This mission is just another example of how crucial the Elios 2 is to our ability to help clients assess damage and make informed decisions about their operations," said Simon Ruddick.
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