Toqua helps NOCC manage performance warranties to maximize earnings

As a leading tonnage provider for car carriers, NOCC charters vessels out on time charter.
In that environment, performance warranties are commercial levers: they influence hire economics, competitiveness, and claim risk. The foundation is simple—NOCC needs speed-and-consumption numbers they trust, and they need to know quickly when those numbers start to move.

The Challenge

Performance warranty work has two critical phases:

1) Setting warranties pre-fixture
NOCC needs to set warranties that are competitive enough to fix vessels successfully, but also reliable enough to avoid claims. Warranties that are too aggressive increase claim risk; warranties that are too conservative reduce competitiveness and earnings potential. The key challenge is establishing a baseline that is both commercially usable and technically sound.

2) Monitoring warranties during the charter
Once a vessel is on hire, performance can change—gradually over time due to fouling or following events such as dry-docking or cleanings. If underperformance is identified late, NOCC has fewer options and greater exposure to claims.

Before Toqua, this work was largely done through ad-hoc, case-by-case analysis of noon reports. While this approach produced results, it was manual, time-consuming, and dependent on individual investigations. When performance appeared to change, additional effort was often required to confirm whether the shift was real, how material it was, and whether it warranted action.

How NOCC uses Toqua

Toqua enabled NOCC to move from ad-hoc performance checks to a systemised, automated approach to performance warranty setting and monitoring. Where sensor data is available, Toqua can incorporate it as well—adding an extra layer of confidence.

For warranty setting (pre-fixture), Toqua helps NOCC:

• Establish reliable baseline speed-and-consumption based on actual performance
• Set warranties that are competitive but realistic
• Reduce reliance on manual, one-off analysis when preparing fixtures
• Establish reliable baseline speed-and-consumption based on actual performance

• Monitor performance continuously rather than episodically
• Identify negative shifts early, when there is still time to respond
• Quickly assess whether maintenance actions have had the intended effect
• Maintain a clear view of potential warranty exposure over time

Throughout this process, Toqua continuously checks data quality and output consistency. The resulting figures are traceable, robust, and independently verifiable, giving NOCC confidence to act on them.

The Outcome

With Toqua, NOCC has transformed how performance warranties are managed:

• Warranty setting and monitoring is now systemised rather than ad-hoc
  
• Speed-and-consumption numbers are automated, accurate, and verifiable
• Performance shifts are detected earlier, enabling timely action
• Manual effort has been reduced, while confidence in the numbers has increased
• Warranty exposure is clearer throughout the charter period

Bottom line: Toqua helped NOCC move from one-off performance analysis to a reliable, automated system for setting and monitoring performance warranties—making it easier to act early, avoid claims, and maximize earnings.