Charting the Future of Maritime Asset Management with IBM Maximo

Leveraging Predictive Maintenance for Efficient and Safe Operations

The maritime industry faces unparalleled challenges in managing its diverse assets, from vessels to offshore platforms, under strict safety and regulatory standards. As shipping companies, defence forces, and energy providers demand more from their assets, IBM Maximo provides the strategic edge needed for success. As a comprehensive computerised maintenance management system (CMMS), IBM Maximo aligns with global standards like ISO 55000 and helps organisations establish a robust asset register, seamlessly tracking performance, boosting efficiency, and fostering safer operations.

Today's Asset Management best practices embrace real-time data analytics, predictive maintenance, and digital twin technologies to streamline decision-making and unlock new levels of efficiency. With Maximo's Reliability Centred Maintenance (RCM) approach, maritime companies can optimise their maintenance strategies based on extensive industry research. RCM in Maximo identifies potential asset breakdowns, designs targeted maintenance activities, and mitigates risks before they impact reliability or safety. By considering operational context, failure modes, and consequences, Maximo determines the most effective maintenance strategy for each asset. This proactive approach maximises performance, minimises downtime, and ensures the highest safety standards in maritime operations.

Life Cycle Asset Management: Maximising Asset Longevity

In the maritime industry, where the stakes are high and the costs of asset failure can be catastrophic, the strategic implementation of asset management tools is paramount. IBM Maximo, a leader in this field, provides a robust framework for managing maritime assets across their entire lifecycle, from acquisition to decommissioning. Here's how it plays a pivotal role in enhancing operational efficiency and longevity:

• Asset Acquisition and Deployment: IBM Maximo begins its value-add at the very start of an asset’s lifecycle. By assessing the need, projected value, and expected performance, Maximo helps maritime companies make informed decisions about their fleet. The software supports the initial setup and deployment of assets, ensuring that maintenance schedules and safety checks are in place. This groundwork is vital as it sets the trajectory for an asset’s operational efficiency and compliance with safety standards.

• Operational Management and Preventive Maintenance: Once operational, Maximo's real-time monitoring capabilities come to the forefront. It tracks engine performance and fuel usage to optimise routes, significantly reducing operational costs. Simultaneously, its preventive maintenance capabilities ensure regular upkeep, reducing the risk of unexpected failures and extending the asset's operational life. For instance, based on usage patterns and manufacturer recommendations, Maximo schedules maintenance for critical systems like propulsion engines and navigation systems.

• Compliance, Safety, and Decommissioning: Ensuring compliance with stringent industry regulations, Maximo tracks every asset's adherence to standards such as the International Convention for the Safety of Life at Sea (SOLAS). This tracking is crucial not only for operational legality but also for the safety of crew and cargo. As assets reach the end of their lifecycle, Maximo facilitates their environmentally responsible and regulatory-compliant decommissioning, overseeing everything from the retirement of old vessels to ensuring that decommissioning aligns with environmental regulations.

The strategic application of IBM Maximo in maritime asset management underpins significant financial and operational benefits. As highlighted by the MarketsandMarkets report, the Enterprise Asset Management (EAM) market is poised for substantial growth, with IBM Maximo well-positioned to capitalise on this trend. This is evident in real-world applications, such as Chevron's implementation of Maximo, which resulted in

• 15-20% reduction in maintenance costs
• 5-10% increase in equipment availability

Port Otago’s Strategic Resource Allocation with IBM Maximo

Port Otago, a deep-water export-based container terminal in New Zealand's far south, implemented IBM Maximo Asset Management software to address several challenges in their asset management and operations:

• Their basic system lacked functionality and had siloed business systems.
• Data gaps increased effort and costs.
• Lack of a spares inventory system led to uneconomical parts purchasing.
• Staff often relied on instincts and experience for lifecycle data decisions.

To overcome these challenges, Port Otago adopted New Zealand's first MaxiCloud solution,  a cloud-based deployment of IBM Maximo. MaxiCloud delivers the full power of IBM Maximo in a cloud environment, simplifying IT management and offering flexibility and scalability. This innovative solution provided:

• A cohesive asset management strategy for efficient spare part inventory management.
• Complete visibility over asset performance and maintenance needs.
• Integration with Port Otago's finance system to support unified operations.

The implementation of IBM Maximo through MaxiCloud resulted in several benefits:

• Simplified IT management with a cloud-based software-as-a-service model.
• Time and cost savings through streamlined inventory purchasing and management.
• Improved reliability and reduced maintenance costs with asset performance reporting.
• Shift from reactive to predictive maintenance.
• Enhanced safety and statutory compliance.

Notably, the initiative reversed Port Otago's previous 'planned versus reactive maintenance' work mix from an estimated 30% planned vs. 70% reactive to 60% planned vs. 40% reactive, resulting in substantial cost and organisational savings.

The Maximo system also improved safety compliance through its work order system, which now includes area hazard warnings, safe operating procedures, and PPE reminders.

Port Otago's CEO, Geoff Plunket, summarised the benefits: "Maximo gives us a range of organisational advantages, such as a greater ability to demonstrate statutory compliance, increasingly accurate visibility over critical asset behaviours, and a more predictable, efficient, and safer organisation".

Enhancing Asset Lifespan with Predictive Maintenance

Predictive maintenance is a proactive strategy that harnesses IBM Maximo's machine learning algorithms and analytics to foresee when assets need care. Predictive maintenance offers advantages such as a possible 30% maintenance cost reduction and a 20% equipment lifespan extension, according to ABB.

Condition monitoring, enabled through IoT integration, allows Maximo to continuously assess asset health. By setting performance thresholds, alerts are triggered when data like vibration, pressure, or temperature deviate from normal. Monitoring propulsion systems or generators in real-time ensures that issues like bearing wear are detected early, preventing failures and minimising repair costs.

Maximo's reliability strategies, rooted in decades of industry research, guide maintenance schedules to maximise safety and efficiency. Its Reliability Centred Maintenance (RCM) approach provides maritime companies with insights into potential breakdowns, empowering them to design targeted maintenance activities and mitigate risks before they impact reliability or safety. RCM in Maximo helps organisations identify the most effective maintenance strategies for each asset, considering its operational context, failure modes, and consequences.

Turning Compliance into Advantage with IBM Maximo

Maintaining regulation records is crucial for maritime organisations to ensure compliance with international standards and best practices. IBM Maximo enables companies to create detailed records tied to assets, job plans, and permits. This simplifies adherence to specific regulations like the International Safety Management (ISM) Code, ensuring that every operation aligns with guidelines that protect crew, assets, and the environment.

IBM Maximo also enhances compliance by streamlining audit and survey management. It tracks audit results and ensures corrective actions are completed, helping organisations prepare for future audits with ease. For instance, conducting safety audits to meet Maritime Labour Convention (MLC) standards ensures safe working conditions across all vessels, boosting operational efficiency and employee well-being.

Finally, IBM Maximo’s action tracking system addresses regulatory concerns raised during audits by monitoring corrective measures taken to resolve them. The software’s integration with job plans and work orders ensures compliance requirements are met, such as adhering to the International Convention for the Safety of Life at Sea (SOLAS). According to MarketsandMarkets, with the regulatory compliance software market expected to grow to USD 49.6 billion by 2027, IBM Maximo provides the tools needed to stay compliant and turn regulatory adherence into a competitive advantage.

Slashing Maritime Safety Risks with IBM Maximo and Leveraging MaxiCloud for Enhanced Safety and Efficiency

In high-risk maritime environments, managing safety and risk effectively is crucial for compliance and operational success. IBM Maximo equips organisations with tools to enhance safety management through features like mobile applications, systematic safety processes, and comprehensive risk assessments. 

The easiest way for organisations to realize the benefits of MAS without taking on the underlying technology changes is through a managed solution. BPD Zenith’s fully managed MaxiCloud solution ensures a seamless transition and ongoing support, allowing organisations to focus on their core business while MaxiCloud handles the complexities of the new platform.

MaxiCloud is the industry's chosen cloud-hosted solution for IBM Maximo Application Suite, and here's why:

• All-access Maximo: Provides best-of-breed Enterprise Asset Management from the best providers in the business, including Mobility, Asset Health Monitoring, Scheduling, Archiving, Inventory Management, Permitting, and more.
  
  
• Secure MAS Hosting: Maintains your systems and networks with the latest security patches and comprehensive disaster recovery, backed by round-the-clock incident support for absolute business continuity.
  
  
• 'Essentials' Toolset: Offers a complete toolset of innovative MAS admin and user features, apps, and utilities, based on industry experience and best practices, shipped and built-in as standard.
  
  
• 24/7 MAS Support: Provides localised, certified assistance worldwide, integrating seamlessly with a DevOps approach, and offering continuous 'Follow the Sun' support to ensure expertise is always on hand.

MaxiCloud's integration with IBM Maximo not only meets but exceeds safety and compliance standards, providing a comprehensive approach to managing assets in high-risk environments. Clients like Port Otago have revolutionized their asset management by adopting MaxiCloud, moving from reactive to predictive maintenance and improving safety compliance through integrated work order systems. MaxiCloud provides real-time data access and streamlined operations, enhancing safety and efficiency without the complexities of traditional IT infrastructure.

Set sail toward a smarter, safer maritime operation. Connect with our experts and learn how IBM Maximo’s innovative insights and strategic management tools can revolutionise your asset management journey.