SAN FRANCISCO and BOSTON, Dec. 16, 2022 (GLOBE NEWSWIRE) -- Bearing, a leader in AI-powered sustainable shipping, and Veson Nautical (“Veson”), the global market leader for commercial maritime software, have today announced a new strategic product partnership to synchronize data for voyage analysis and quick, accurate modeling of Carbon Intensity Indicator (CII) ratings.
The two companies will securely integrate the Veson IMOS Platform (VIP) with Bearing’s CII optimization and performance analysis solutions. Mutual clients who subscribe to the integration will be able to securely share relevant voyage data from the Veson IMOS Platform with the Bearing platform, cutting out manual data entry and helping ensure data used to model a voyage is up to date.
By leveraging voyage and supporting reference data from VIP, Bearing’s CII Optimizer can instantly predict vessels’ CII ratings, identify potential problems, and offer solutions to improve performance. Natively integrating this data into the voyage optimization process within VIP provides mutual clients with access to accurate CII predictions for a vessel within the context of the voyage and broader strategic operations. The addition of Bearing to the Veson Partner Network is a step forward in aiding clients to track emissions data in accordance with regulatory requirements.
Eric Christofferson, CPO at Veson Nautical, said: “Optimizing a voyage involves several inputs and assumptions. Currently, planning and recording a voyage in a system like VIP provides a user with a number of modeled outcomes from a commercial perspective. When you bring a separate optimization system into the mix, things can get time-consuming and error-prone. Additionally, upcoming regulations are putting a lot of pressure on the industry to maintain compliance and enhance efficiencies of global supply chains. This integration with Bearing is one of the exciting steps that we are taking to support our clients with the technology they need to navigate these changes.”
Bearing’s AI platform analyzes vast quantities of information about the global shipping fleet, estimating fuel consumption, speed, and other aspects of vessel performance. Bearing’s CII Optimizer uses Bearing’s robust learning models, ECDIS-verified routing engine and historical weather database to forecast CII scores and recommend potential changes, such as vessel speed, fuel type, sailing schedule and underwater cleaning.
In blind tests with global shipping companies, Bearing’s data-centric AI-based approach delivered vastly more accurate predictions than physics-based models, which struggle to account for the multitude of variables that influence voyages at sea, including wind direction, biofouling, currents, and waves.
Dylan Keil, Cofounder, and CEO at Bearing, said: “With new CII regulations going into effect next year, ship owners and operators need to understand how their fleet will perform — where they’re at risk and what that means for their bottom line. Existing tools simply aren’t up to the task. But with Bearing’s AI-powered technology, now also fueled by data from the industry-leading Veson IMOS platform, companies can get the intelligence they need to make decisions that are better for both their business and the environment.”
For more information on the partnership, please visit this page.
Veson Nautical
Founded to transform the way the maritime world works and makes decisions, Veson is the global market leader in developing, implementing, and supporting the solutions that propel maritime commerce. Driven by a commitment to continual innovation, a spirit of collaboration, and an enduring focus on customer success, Veson is a trusted partner to maritime operations as they navigate evolving business realities and new possibilities in a digital age.
Bearing
Based in Palo Alto, CA, Bearing brings operational efficiencies to the maritime shipping industry. Through the use of artificial intelligence (AI), Bearing aggregates and analyzes data from multiple sources to provide actionable insights for fuel efficiency, optimal routing, and vessel performance. Backed by AI experts and partnerships with leading global shipping companies like K Line and IINO, Bearing is helping its customers increase their profit margins and reduce greenhouse gas emissions.
Media Contact
Chris Ulbrich
Firebrand Communications for Bearing
bearing-ai@firebrand.marketing
415-848-9175
Alice Fairless
BLUE Communications for Veson
alice.fairless@blue-comms.com
