Inside Trinidad and Tobago’s Maritime Landscape
Trinidad and Tobago’s robust maritime infrastructure, strategic geographic location, specialised value chain and ecosystem offer the right environment for your commercial maritime operations or leisure marine activities.
There are several key benefits to investing in Trinidad and Tobago. The country’s natural and safe harbour makes it an ideal location for the storage of ships. This could be particularly useful to oil and gas services companies during periods of a business slowdown. The country seeks to expand the lay-up activities in Trinidad and Tobago as per the government legal, institutional and administrative framework.
The calm waters of the Gulf is a prime location for organisations that seek to transship raw materials from South American countries such as Brazil, Venezuela and Guyana to European and Asian markets. The Port Offshore transshipment facility transfers ore and bulk cargo to North America and China. There are a number of ship repair facilities located in Trinidad, including one dry dock facility with a lifting capacity of 23,000 metric tonnes and an overall length of 230 meters.
Offshore Ship Transshipment Port
Trinidad and Tobago is regarded as one of the world’s biggest destinations for ship storage and lay-ups as a result of naturally sheltered and deep harbour, hurricane safety record and developed infrastructure and support mechanisms. There are opportunities in transshipment for companies that are engaged in the commodities industry in South America and are experiencing considerable issues getting ores and other minerals to destination markets.
The set up of a ship to ship transfer operation within the Gulf of Paria, Trinidad and Tobago and Ship Lay-Ups for vessels temporarily idle as a result of a lack of cargo. The opportunities in ship layups includes cold lay-up, which is suitable for vessels up to five years out of service and warm lay-up, which is suitable for vessels up to twelve months out of service. This is primarily due to insufficient and aging port infrastructure and fluctuating river drafts that makes it almost impossible to load large vessels in other locations.
Predictive Monitoring for Continuous Operations Management
Unplanned downtime and poor maintenance procedure can cost companies a lot of time and money.
For companies looking to set specific targets for cost efficiency, production output and quality control, the ability to predict how certain variables affect machines can aid success in reaching these targets.
Monitoring and remediation are important steps to optimize production, by adopting Predictive Monitoring, organizations can receive the ideal support to keep operations running efficiently, and ongoing maintenance to keep machines running at their best.
Predictive Monitoring is an AI driven method of production analysis. It uses metrics such as temperature and vibrations to determine when machines are working outside of their optimum conditions.
Around 98% of organizations report that a single hour of downtime can cost them over US$100,000, which highlights a significant cost implication that can be avoided with AI driven analytics.
TwinThread applications work with Predictive Monitoring to provide a network of data, which ensure machines work within their optimum conditions, for the best output.
Providing the Digital Tools
According to PwC’s ‘Digital Factories 2020’ report, “manufacturers’ adoption of machine learning and analytics to improve predictive maintenance will increase by 38% by 2022.” One of the main reasons for this, given by 98% of respondents, is to gain more efficiency through investment into digital factory solutions.
By learning what potential issues may occur if machines are not working to the correct standard, Predictive Monitoring systems work with TwinThread’s Predictive Asset Reliability application, which conducts an “automated root cause analysis” enabling the operator to analyze how the machine has fallen from its optimum conditions. Ultimately, any issues will be addressed much faster when predictive technology uses data to monitor variables.
“TwinThread’s Predictive Operations Center is making a big difference to our process engineers, giving them real-time feedback on the stability of our production,” said Domenic Verte, Manufacturing Application Manager at Toray.