Maersk Tankers and technology partner CargoMetrics have unveiled their first digital software less than a year after joining forces.
Soren Meyer, chief strategy officer at Maersk Tanker, and Scott Borgerson, chief executive of CargoMetrics, revealed the development at Marine Money today.
Using data from both partners they have developed a simulation tool for both assessing the commercial risks and profit and loss of Maersk Tankers’ commercially managed vessels.
In a joint interview, Meyer told TradeWinds the development was a “massive step” in Maersk Tankers’ digital efforts.
“This takes it from being a general AIS data set to be a proprietary data set,” he said.
The project started out asking if Maersk Tankers should position its LR2s east or west of Suez but the result is far greater, Meyer said.
He explained LR2s were chosen for the initial phase as the beta trade.
However, the tool is expected to be deployed in other segments of the product tanker market.
Speaking shortly after finishing a presentation at Marine Money, Borgerson said shipping had yet to be disrupted digitally like other global industries. However, he says there is “now a growing feeling of a paradigm shift in the traditional shipping business”.
Maersk Tankers has exclusivity with CargoMetrics in the product tanker industry while CargoMetrics is keen on collaborating with a digitally minded dry bulk operator as well.
“We are now at a point where we have a tangible set of tools to make Maersk Tankers better at being Maersk Tankers,” said Borgerson.
The two partners joined up last August with Maersk Tankers taking a “ship-sized” stake in CargoMetrics.
Meyer said working with a strategic partner had been critical as the developments would not have been possible had Maersk Tankers acted alone.
