As part of this year’s “Decarbonizing Shipping” initiative run by venture developer Rainmaking Innovation Limited, mobile satellite communications leader Inmarsat. Inmarsat, has fast-tracked two start-ups to Certified Application Provider (CAP) status.
The start-ups, VesselBot and PortXchange, offer solutions that have gotten thre attention of Rainmaking’s Trade and Transport Impact initiative which aims to harness the power of start-ups and advanced technologies to meet UN targets on greenhouse gas (GHG) emissions.
As Inmarsat Certified Application Providers, the companies join a fast-growing group of digital innovators providing dedicated applications for Inmarsat’s IoT platform for Fleet Xpress: Fleet Data. The platform collects data from onboard sensors, pre-processes it and uploads it to a central cloud-based database accessible by an owner’s software or third-party applications.
VesselBot’s “Voyage TCE Optimization Decision Support System” software uses advanced AI models that draw on both market and vessel data to support operational decision-making and increase voyage profitability. In addition to providing speed and routing optimization based on weather conditions, the solution offers bunker procurement recommendations using real time data and measures time charter equivalent (TCE) performance at prevailing hire rates.
PortXchange is a digital collaboration platform for sharing real-time operational data from all local parties involved in a port call, standardizing it, and creating a “single point of truth” for shipping lines, carriers, agents, terminals, and port authorities to monitor all activities before and during the call. This data can be used to optimize port call efficiency to reduce CO2 emissions.
Started at the Port of Rotterdam, the PortXchange platform is now used in ports across Europe, the U.K. and the U.S.
“We are delighted to collaborate with Inmarsat and utilize their API’s to obtain High Frequency Operational and Technical data seamlessly and efficiently for our customers,” says Constantine Komodromos, CEO and Co-Founder, VesselBot. “We developed this product in the last two years in collaboration with some of our customers, utilizing our deep expertise in both data science and the maritime market. It brings significant financial benefits, both in respect to TCE increases and connectivity cost reductions, as well as substantial environmental benefits regarding GHG emissions reduction.”
Capt. Abhishek Nair, International Business Consultant, PortXchange, says: “With Inmarsat, we have a great partner in establishing the ship-shore operational data sharing link. The IoT data gathered from Fleet Data can be used to optimize voyages and facilitate just-in-time arrivals. We also want to explore multi-party collaborations with Inmarsat and other application providers on the CAP network to add greater value to users in the maritime industry.”
“We believe these solutions will find ready audiences in the shipping market because both use digital innovation to meet the key industry challenge of decarbonization,” says Marco Cristoforo Camporeale, Head of Digital Solutions, Inmarsat Maritime. “We are very proud that our CAP program continues to provide the ecosystem for digital problem solvers to bring their solutions to market quickly and seamlessly.”