Danish voyage optimisation company ZeroNorth said it has created $50m of value for its shipowner clients over its first year of operations.
The Maersk Tankers spin-off claims its Optimise platform has helped clients boost earnings and cut emissions by using algorithms to increase efficiency.
The $50m upside in net annualised value has been calculated on a rolling month-by-month basis, the company said.
ZeroNorth also assesses the US dollar and CO2 impact of its recommended decisions.
In its first year, the firm has also raised $22m from investors to build on its technological capabilities.
The platform is used by more than 1,600 vessels owned and operated by 13 tramp shipping companies, including Maersk Tankers, Cargill and Ultrabulk.
ZeroNorth told TradeWinds in an email on Friday that there could be Series B funding rounds later for further expansion.
Data boost
ZeroNorth said its performance illustrated the "significant" commercial and environmental impact that data-orientated solutions can have in immediately tackling the shipping industry's decarbonisation challenge.
Chief executive Soren Christian Meyer said: "We think this makes very clear the power that digital technologies have to transform the way we operate."
Voyage optimisation and vessel efficiency are two central challenges facing the shipping industry, he believes.
"By unlocking the power of digital solutions today we can empower companies on the road to decarbonisation, improving their earnings and driving investment in other technologies that will help us to reach our sustainability goals," Meyer added.
Collaborations announced
In addition to Optimise, the company launched BunkerAction in November 2020.
This software provides operators with recommendations on where, when and what to bunker, resulting in cost savings and time reduction in planning.
A weather assessment tool followed earlier this year.
Data collaborations include new agreements with maritime software company Veson, bunker group Monjasa, the Baltic Exchange and shipowner Chartworld.
The company now has more than 50 employees from 16 countries.
Greek branch opened
For its first physical expansion, ZeroNorth opened an office in Greece at the start of 2021, reflecting the country's prominent role in the tramp shipping industry.
Danish supplier Monjasa's input spans bunker prices and availability of the most common fuel grades at key ports around the world.
The information covers heavy fuel oil, very low sulphur fuel oil and marine gasoil in major hubs like Singapore, Rotterdam, Houston and Fujairah, as well as at smaller or more regional terminals.
Last year, trader and charterer Cargill took a minority stake in the company.
Also Friday, ZeroNorth said it had signed agreements with Veson Nautical, Monjasa, the Baltic Exchange, Chartworld and WNI for further data integration.
“Our goal is to build a holistic and comprehensive digital solution with Optimise, and support with the industry’s path to decarbonization,” Meyer said.
