RigNet Settles Inmarsat Arbitration
RigNet, Inc. announced that it has reached a settlement with Inmarsat Global Limited that concludes the GX Arbitration pending before the International Center for Dispute Resolution. Pursuant to the settlement, RigNet will pay Inmarsat $45 million immediately, $5 million in the third quarter of 2019, and $750,000 in the third quarter of 2020.“We are glad to put this matter behind us. While we are disappointed in the panel’s Phase I findings that a take or pay obligation under our January 2014 agreement had commenced…
Nautilus Secures $11M in 'AI' Funding
Nautilus, the company building artificial intelligence for the maritime shipping industry, has announced $11M in Series A funding led by M12, Microsoft’s venture fund, along with Root Ventures. Existing and new investors including Quiet Capital, Trail Mix, and Amplifier Lab participated in the round, which brings Nautilus’ total funding raised to $14.5M.Nautilus was founded in 2016 to advance the efficiency of maritime shipping and build a more sustainable future for ocean commerce. Responsible for 90% of the world’s trade, ocean shipping consumes more than $100 billion in fuel every year.
Teekay LNG taps Start Up for Fleet Optimization
Teekay LNG Partners L.P. signed a full fleet partnership with the New York-based startup, Nautilus Labs, to enhance the efficiency of its gas vessels. Nautilus Labs’ platform is designed to unify fleet data and leverages machine learning to optimize vessel performance.The partnership actually began in February 2018 with a five ship pilot. Nine months later Teekay LNG Partners agreed to roll out the software platform to its entire fleet.Nautilus Platform is a software solution that unifies the company’s data sets and systems to deliver a detailed analysis of fleet performance in real-time…
One-on-One with Martin McDonald, SVP, ROV Division, Oceaneering
Martin McDonald, an industry veteran with more than 35 years under his belt, is responsible for Oceaneering’s global ROV business. With a broad based of ROV experience – from operation to repair to maintenance to management – McDonald shares with MTR his insights on the historical development and future prospects of this high-profile subsea sector.How and when did you know that your career would be in the maritime/subsea industry?I grew up in Fraserburgh, Scotland, a small town 40 miles north of the oilfield city of Aberdeen. Fraserburgh is best known for commercial fishing.
Navis Rolls-out Smart Tech
The terminal operating systems provider unveiled its new offering, ‘Navis Smart,’ providing new ways for container terminals and carriers alike to capture and process the abundance of available industry data to optimize planning, visibility and asset utilization.Navis, a part of Cargotec Corporation, and the provider of operational technologies and services that unlock greater performance and efficiency for the world’s leading organizations across the shipping supply chain, said that Navis Smart is a layer of technology that will enable and connect Navis solutions…
Who Wins in Shipping’s Battle for Data?
Weather has to be one of the most important building blocks of any digital operations solution. But, that’s only one of dozens of individual variables. Building a data management solution that navigates the unexpected, and not just the low hanging fruit, is the way to go.One of the most fiercely fought battles in shipping today is the battle for data. On a weekly basis, we see companies of all stripes – ship managers, owners, class societies, equipment manufacturers and even coating suppliers – investing in their own digital solutions and fiercely competing for control over data: the new oil.
Shell to Deploy AI Applications
Royal Dutch Shell and C3 IoT have announced that Shell has selected C3 IoT as its artificial intelligence (AI) platform to enable and accelerate digital transformation on a global scale.By deploying the C3 IoT Platform globally on Microsoft Azure, Shell expects to realize substantial economic value by rapidly scaling and replicating AI and machine learning applications across its upstream and downstream businesses and by improving operating performance, with an emphasis on health…
Rolls-Royce Health Management Solutions to Harness Power of Data
Rolls-Royce continues to develop its ship intelligence offerings to the market, and now introduces a pioneering new solution for Health Management of ship equipment.The technology is aimed at elevating the way in which customers manage and maintain the equipment and systems onboard their ships.Health Management is designed to provide ship operators with an unsurpassed level of understanding of the operational health and performance of all the machinery installations onboard.Developed by the Ship Intelligence team at Rolls-Royce…
Norway Expands AI Lab
Norway has a huge potential to be a pioneer in Artificial Intelligence (AI), but it needs resources and collaboration in order not to lag behind.To strengthen national efforts on artificial intelligence, Telenor, NTNU and SINTEF are inviting Norwegian businesses to partner on the new Norwegian Open AI Lab. Additional partners will include DNB, DNV GL, Equinor, and the Kongsberg Group.While the Norwegian Open AI Lab will develop solutions specific to the partners’ industries, it will also consider opportunities where Norway can take positions internationally.
The Digitalization of Tanker Logistics
The tanker business carefully dips its toes into the digital chartering, analytics and big (data) pond. It is a work in progress.Like every other business, raw materials, refined products and petrochemicals, are undergoing unprecedented waves of digitalization. However, shipping is one linkage, albeit an important one, within the much bigger supply chains for crude oil and products. But cargo is king, raising an important question: Will future efforts to link ship chartering, and ship brokerage…
Samsung Heavy Industries Builds Smart Ship On AWS Platform
Amazon Web Services (AWS), an Amazon.com company, announced that Samsung Heavy Industries (SHI) selected AWS as its preferred cloud provider to support its digital transformation.Samsung Heavy Industries is turning to AWS’s expansive infrastructure, unmatched performance, scalability, and industry-leading services to gain competitive advantage in the smart shipping industry.Samsung Heavy Industries leaves the heavy lifting of its infrastructure to AWS, the world’s leading cloud…
Short Sea Providers Partner with Navis to Optimize the Vessel Stow
On-premise vessel stowage software StowMan takes feeder liners and logistics providers to the next level of vessel stowage planning. Navis, the leading provider of vessel stowage planning solutions, announced that in the first half-year 2018 five feeder liners, including Tehama Shipping and Transinsular, have selected the on-premise stowage planning solution StowMan. The partnership with Navis aims to improve vessel stowage planning and an effective load list handling in order…
UK Hydrographic Office Appoints Makewell CTO
The UK Hydrographic Office (UKHO) appointed Terry Makewell to the position of Chief Technology Officer. Makewell has more than 20 years’ experience in leadership positions in government, academia and the creative industries, and will be instrumental in further developing the UKHO as a world-leading center in the marine domain. This will support the UKHO in delivering its vision of becoming the world-leading marine geospatial information agency and hydrographic office by 2020. Makewell joins the UKHO from the Office for National Statistics, where he held the role of Chief Digital Officer.
OSM Developing High-tech Operations Center
Ship management firm OSM said it is in the final stages of completing a Singapore-based Maritime Operations Center that will help transform decision-making, efficiency and performance for its global customer base.The facility, developed in partnership with Singapore based analytics company Azendian Solutions, will initially allow OSM to connect all its data sources around the world. In the near future, the operations center will not only be the main pillar of OSM’s Technical Management offerings…
OOCL Partners with Microsoft for AI Project
Hong Kong-based shipping company Orient Overseas Container Line Limited (OOCL) has partnered with Microsoft’s research arm to improve network operations and achieve efficiencies within the shipping industry through applied Artificial Intelligence (AI) research.The partnership, between OOCL and Microsoft Research Asia (MSRA), will apply deep learning research to shipping network operations with a projected $10 million annual operational cost saving. The collaboration is also expected to nurture over 200 AI developers over the next 12 months.“With MSRA’s efforts and expertise…
Concirrus, EY to Drive Change in Marine Insurance Underwriting
Insurtech Concirrus and EY announced a new agreement to accelerate the adoption of behavioral-based underwriting and risk management in marine insurance. Concirrus has created market leading artificial intelligence (AI) powered marine insurance software, and is collaborating with EY, a global leader in specialty insurance consulting, to support the evolution of one of the oldest and most traditional insurance industries. Working together will help marine insurers move from older demographic based underwriting models…
DNV GL Creates Digital Solutions Organization
DNV GL announced it is creating a specialized Digital Solutions organization that will set out to capture the opportunities that lie in data sharing, advanced analytics, automation, and machine learning as well as addressing challenges related to data quality and security. Elisabeth Heggelund Tørstad will leave her post as CEO for DNV GL’s Oil & Gas business to head the new Digital Solutions business, which will consist of 1,000 digital experts. She will be based at DNV GL headquarters in Høvik, Norway as a member of the Executive Committee for the DNV GL Group.
Rolls-Royce, Google Cloud Sign Landmark Deal
The maritime industry's exhaustive push toward autonomy just received a boost in the form of a deal signed between Rolls-Royce and Google to develop further its intelligent awareness systems. The agreement was signed at the Google Cloud Summit in Sweden, and it allows Rolls-Royce to use Google’s Cloud Machine Learning Engine to further train the company’s artificial intelligence (AI) based object classification system for detecting, identifying and tracking the objects a vessel can encounter at sea.
Savi Ocean ETA Brings Transparency to Shipping
With Ocean ETA, shippers gain real-time visibility to ocean shipments and seamless orchestration of transitions between sea, land and air. Ocean ETA was launched by Savi, an innovator in big data/machine learning analytic solutions, supply chain management software and sensor technology. Its capabilities bring precise, live streaming tracking and ETA of land to sea shipments. A combination of mobile and satellite communications deliver location and condition of in-transit goods.
AI to Estimate Vessel Speed and Fuel Consumption
Mitsui O.S.K. This project is a part of MOL's initiative to assess the effectiveness of AI technology, and aims to reduce fuel consumption and vessels' environmental impact by verifying the accuracy of the technology, using Fujitsu's AI Technology to estimate vessel performance at sea. MOL provided actual voyage data collected from MOL fleet in operation to Fujitsu Laboratories, which, along with Tokyo University of Marine Science and Technology, verified the data by using their jointly developed machine learning method.
LR Presents CES Descriptive Notes to China Smart Ship
Great Intelligence, the first China smart ship, was presented with Lloyd's Register (LR) cyber-enabled ship (CES) descriptive notes. Great Intelligence was designed by Shanghai Merchant Ship Design and Research Institute (SDARI) and built at Guangzhou Wenchong Shipyard Co., Ltd (GWS), a subsidiary of China State Shipbuilding Corporation (CSSC). Along with LR, System Engineering research Institute (SERI) and China Class Society (CCS) were also involved in this project. Great Intelligence…
Eco Marine Power to Use Artificial Intelligence
To further enhance its research capabilities Eco Marine Power announced today that it will begin using the Neural Network Console provided by Sony Network Communications Inc., as part of a strategy to incorporate Artificial Intelligence (AI) into various ongoing ship related technology projects including the further development of the patented Aquarius MRE (Marine Renewable Energy) and EnergySail. The Neural Network Console is an integrated development environment using deep learning for AI creation and has been used in deep learning applied technology development within Sony since 2015.
NileDutch Implements Transmetrics Predictive Optimisation Software
In order to streamline our empty container flows and increase efficiency, NileDutch has started working with Transmetrics of Bulgaria, a tech startup that provides predictive logistics solutions. Transmetrics already has extensive experience in demand forecasting and predictive optimisation for the cargo transport industry, and as a result of this collaboration with NileDutch, it will also launch its new product, AssetMetrics. “With machine learning and intelligent algorithms we want to revolutionise how empty container handling and relocation is organised.
Data Overload: Commodity Hedge Funds Close as Computers Dominate
"Chocfinger" made his name and his money by taking bold bets on cocoa markets. But after nearly four decades of trading, sometimes winning, sometimes losing, Anthony Ward threw in the towel. Ward blames the rise of computer-driven funds and high-frequency trading for forcing him and some other well-known commodities investors to close their hedge funds and look for opportunities where machines can't make a difference. While computerised trading is not new, Ward and others argue…
Port of Long Beach, GE Transportation in Data-Sharing Project
The Port of Long Beach and GE Transportation are collaborating to improve cargo flow at the busiest port complex in North America. As cargo volumes and the complexity of port operations increase, the Port of Long Beach is launching a pilot program with GE Transportation to increase visibility, enhance real-time decision-making and optimize cargo movement through the Port. Building on the success of its pilot with the Port of Los Angeles, where the solution is helping to increase visibility of incoming cargo from two days to two weeks…
Wärtsilä acquires Transas
Wärtsilä announced today that it has acquired Transas, an innovative, digital solutions provider headquartered in the UK. This acquisition is a recognition of Transas’ strong position in the maritime technologies market and its technological leadership. The transaction will allow Transas to work within a global maritime company in delivering its solutions, bringing scale and value to the industry in need of innovation leadership. Transas is a global market leader in marine navigation solutions that include complete bridge systems, digital solutions and electronic charts.