GeoSpock partners with Singapore Exchange on air emissions

Aug 02 2019


GeoSpock, a spatial big data company, is to partner with the Singapore Exchange (SGX) to build a global maritime spatial database with the Baltic Exchange.

As the global maritime industry embraces digital technologies, the data centre will act as a resource for Baltic Exchange members to make use of the array of new datasets emerging. The digital programme will commence with a specific focus on maritime air emissions, enabling members to have access to visualisations and data insights.

“Shipping is central to the global economy, underpinning 90% of the world’s trade. This vast industry is undergoing an intense period of digitalisation, with data analysis becoming fundamental to business success,” explained Richard Baker, GeoSpock CEO. “Currently, the industry generates huge quantities of data. When we think ‘origin to destination’ for many commodities or goods, then we realise data is being produced in all aspects of the supply chain - from sensors in dispatch warehouses to on board ships, in ports and on trucks. However, this data is siloed and there is no central pool of data that companies, and the industry as a whole, can utilise.”

Baltic Exchange, as part of the Singapore Exchange, is aiming to develop an intelligent database that captures data on every measurable aspect of the shipping industry.

This includes metadata, such as location, weather, emissions, fuel usage, journey routes and times. Through the collection of this data, its membership will have complete and instant visibility into the shipping landscape. Companies will be able to analyse and optimise shipping on a global scale, while providing regulators and governments with a new level of transparency.

The GeoSpock designed spatial big data platform, built on AWS Cloud, will be able to ingest and provide context to huge quantities of global maritime data from the Baltic and Singapore Exchanges and industry participants.

While the project will initially focus on UK and Singaporean ports, the initiative will have global capabilities and reach.

“We are driven by adding value for our members. As our market embraces digital technologies and as the Baltic Exchange executes its digital strategy it is imperative for our members that we adopt and utilise the most advanced technology and develop the most holistic database available for our industry. We want to inform our membership and the wider shipping community, while also having the means to show the changes in the industry.

“The database we are building with GeoSpock will act as a hub of information that can be constantly added to and improved on but more importantly interacted with. It's an opportunity for members to innovate and collaborate with data for the benefit of our industry. We believe it will set a global standard for a data first strategy in the shipping industry,” added Mark Jackson, CEO, Baltic Exchange.

 



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