Bearing AI announces the first AI-powered tool for tracking, predicting, and optimizing liner fleet emissions

PALO ALTO, Calif., Oct. 25, 2023 (GLOBE NEWSWIRE) -- Bearing AI, the AI Decision Engine for the maritime industry, has launched an AI-powered Fleet Deployment Optimizer. This industry-first product was developed with in-depth feedback from leading global shipping company, and Bearing AI customer, Hapag-Lloyd.

Built on Bearing AI’s Decision Engine platform, the Fleet Deployment Optimizer helps customers accurately simulate future emissions and instantly compare the efficiency of different vessels across potential schedules. This tool helps customers maximize environmental compliance while still considering service requirements, fleet composition and other critical business needs.

Fleet Deployment Optimizer helps companies do the following:

• Easily track the predicted CII (Carbon Intensity Indicator) performance of multiple vessels in one simple view, accounting for adjustments such as reefer usage
• Accurately simulate emissions performance under different scenarios, predicting the resultant CII score from moving high-performing or more problematic vessels to an alternative service
• Determine the optimal fleet deployment plan based on various objectives: e.g., minimizing the number of vessels receiving CII ratings of D and E across the entire fleet
  

Innovation for the future of maritime shipping

Bearing AI is committed to pushing the boundary in maritime emissions management. Hapag-Lloyd also shares this commitment and was a natural collaborator with Bearing on the development of this product. Both parties understand that technology will play an important role in enabling companies to meet their emissions reduction goals while still maintaining service reliability and profitability.

During the collaborative development of the Fleet Deployment Optimizer, Bearing AI combined its expertise in Artificial Intelligence with Hapag-Lloyd’s industry insights to ensure the Fleet Deployment Optimizer tackled some of the most pressing emissions-related challenges facing companies today.

"We’re delighted to be working closely with Hapag-Lloyd, a company that’s passionate about the future of this industry. They share our dedication to developing and applying technologies that pave the way for more sustainable operations in this new green era of global shipping,” Bearing AI Co-Founder and CEO Dylan Keil said. “Fleet Deployment Optimizer is one of the most significant recent developments in fleet management and it's just the beginning – we’re excited to unveil its full potential, and continue to rapidly innovate with industry-leading customers like Hapag-Lloyd.” 

As part of Bearing’s broader AI Decision Engine platform, Fleet Deployment Optimizer is continuously improving and Bearing plans on launching a series of enhancements in the near future. For example, Bearing is currently in the process of adding additional support for EU ETS. Ultimately, Bearing AI’s Decision Engine platform will not only help shipping companies make more data-driven decisions, it will transform how the industry operates.

About Bearing AI
Founded in 2019 and based at the heart of Silicon Valley in Palo Alto, California, Bearing AI has leveraged an unparalleled mix of technology leadership and industry experience to the application of AI to the maritime industry. The company boasts a diverse team with deep expertise in building scalable AI-enabled products and decades of maritime shipping expertise, globally distributed across four continents. The Bearing AI team has a passion for helping the essential maritime shipping industry become greener and more efficient – all while keeping the Silicon Valley spirit of innovation at the core.

Bearing AI works with some of the world’s leading shipping companies and is backed by Mitsui & Co. Ltd., a global business leader with deep ties to the shipping industry, and the AI Fund, a venture capital firm led by AI pioneer Andrew Ng.

About Hapag-Lloyd

With a fleet of 258 modern container ships and a total transport capacity of 1.9 million TEU, Hapag-Lloyd is one of the world’s leading liner shipping companies. The Company has around 14,000 employees and 400 offices in 135 countries. Hapag-Lloyd has a container capacity of 2.9 million TEU – including one of the largest and most modern fleets of reefer containers. A total of 115 liner services worldwide ensure fast and reliable connections between more than 600 ports on all the continents. Hapag-Lloyd is one of the leading operators in the Transatlantic, Middle East, Latin America and Intra-America trades.

For more information, visit www.bearing.ai

Media Contact
Brianna Bruinsma
Firebrand Communications for Bearing
bearing-ai@firebrand.marketing
415-848-9175