Shipping vessel are constructed to remain on the move and the cost of idle oil tankers could run in to the tens of thousands per day for a empty vessel and even higher for a oil tanker that is loaded with crude oil and sitting idle due to mechanical failure or technical difficulty.
Shipping companies incur heavy losses in terms of the cost of idle oil tankers that average between US$25,000 to 30000 per day for empty idle oil tankers and the amount could raise rapidly if the vessel were to stop sailing for any mechanical or technical error when loaded with crude oil while on transit. To avoid this from happening ship manufacturers put in place backup systems that assist the vessel to remain on course, so as to deliver the cargo and receive quick repair or maintenance to damaged components.
