This partnership looks to provide solutions that will help drive reductions in greenhouse gas emissions and cut operating costs.
The i4 Insight Platform allows shipowners, operators and charterers to easily access insights on performance and fuel consumption across all ships in their fleet. The addition of GreenSteam’s advanced machine learning technology means that platform users will have a more accurate picture of the leading contributors to excessive fuel consumption as well as access to actionable recommendations on how to optimise fleet performance.
Given the sheer volume of performance data available, machine learning is essential to help make sense of complex factors impacting vessel performance to help ensure operational efficiency. GreenSteam was one of the first companies to apply machine learning to vessel performance data and its system can analyse data from thousands of vessels, continually learning, adapting and updating what it knows about each vessel.
Shaun Gray, Executive Chairman of GreenSteam, said: “An in-depth, data-driven approach to understanding and acting on fuel consumption has never been more necessary for the industry. GreenSteam’s machine learning technology uses real ship performance data to provide owners and operators with actionable advice. Unlike traditional analytic approaches that fail to use and model 90% of performance data, by using machine learning, GreenSteam includes all ship performance data in its models to deliver insights other standard methodologies just cannot see.”
“GreenSteam’s partnership with i4 Insight hands the shipping industry the tools it needs to make truly informed decisions about fuel consumption. It will support owners in optimising vessel operations while also delivering on emissions targets,” he added.
Joel Meltzner, Chief Executive Officer of i4 Insight, a Lloyd’s Register company, said: “Partnership is an integral component of our success which is why we created the ‘i4 Alliance’ comprised of leading maritime industry partners across the globe. The goal is to provide an integrated set of products and services that help companies drive increased efficiency into their operations.
We chose to work with GreenSteam after a rigorous global review of services analysing vessel data. In addition, we were impressed with GreenStream’s expertise in machine learning-based analysis. We look forward to providing this integrated offering and contributing to the shift towards a more sustainable shipping industry.”