This agreement provides the AP Moller-Maersk subsidiary access and exclusive rights to CargoMetrics' analytical models, algorithms and capabilities.
CargoMetrics links satellite signals, historical shipping data and proprietary analytics for trading purposes in its systematic investment platform.
“In the partnership, we will accelerate our use of digital solutions to enable our business strategy, which will deliver value to our customers and partners while we generate income and develop our position as the digital frontrunner in the product tanker industry.
“CargoMetrics is the right partner to support us in this, as they have the analytical models, algorithms and capabilities that we need in Maersk Tankers. This will also help us to further develop our in-house digital knowhow and capabilities,” said Soren Meyer, chief strategy and transformation officer, Maersk Tankers.
This agreement also cements Maersk Tankers’ commitment to integrating digital solutions into the product tanker industry, the company said.
“Data about the 90% of global trade that moves by sea is a powerful trading edge,” claimed Scott Borgerson, CEO and founder of CargoMetrics. “This is the quintessential partnership where we can drive returns in both of our businesses by collaborating with one of the leading players in shipping while applying our patented technology to their physical tanker operations. We are excited to team up with Maersk Tankers to further increase the use of big data in the product tanker industry.”
The agreement took effect on 21st July, and Maersk Tankers and CargoMetrics are now entering an analysis phase to further identify where best to apply the digital knowhow and capabilities of both companies.