OceanScore, a software solutions provider to the shipping industry, launched the first part of its FuelEU compliance system at SMM in Hamburg.
The FuelEU Planner will assist ship owners and operators understand the European Union’s new emissions regulation, which comes into force on 1 January 2025.
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OceanScore also revealed its planned suite of tools, FuelEU Manager and FuelEU Marketplace, which will complement the Planner tool once the new emissions control regime is up and running.
Speaking with Ship Technology at the launch event, co-managing director Albrecht Grell said the success of OceanScore’s ETS Manager software formed the backbone of the new tool – and had a direct impact on the company’s recent inward investment.
“I think [ETS Manager was] the proof that we can build proper solutions and that we can operationalise them in a way that we have solid traction in the market. That’s the proof that you need… and it provides a very, very solid business of the company, and that then allows investors to build their faith,” he said.
OceanScore on 3 September announced a €5m ($5.4m) Series A funding round, with new shareholders including Stolt Ventures, Motion Ventures, and Portline. theDOCK maintained its interest in the company with a further investment after its seed round stake, while older investors including MSC retained their shares, the startup confirmed.
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By GlobalData“I think that the venture markets aren’t easy, and we are very, really humbled and excited by the support we’re getting,” Grell added.
As the world of commercial shipping looks forward to 2025, and prepares for the incoming storm that could be FuelEU (only a year after the kick-off of EU ETS), OceanScore is entering a competitive market for solutions to calculate and avoid nasty surprises under the new laws.
How the German firm is able to stand out is the “easy part” according to Grell and his fellow managing director Ralf Garrn.
“We are more shipping than they are,” they both agreed.
“It’s not we understand the difference between a manager and owner, managing owner and operator, and charter. We understand the difference between bulk and tanker business and time charter and voyage charter,” Grell said.
But that might not be enough for some. One attendee representing a shipping line, but who asked to speak anonymously as they were not permitted to speak to the press on behalf of the company, said the tool was “not actually so useful”.
“We have our own management system and we think we can integrate this calculation ourselves,” they explained.
Generally, however, the mood was bright at the evening event and owners and ship managers were keen to remain with OceanScore after a successful year using its ETS software.
