Technology company Bearing has launched an artificial intelligence (AI)-driven operations optimisation platform to provide actionable insights to shipping firms.
Bearing’s platform is based on precise ship performance models that are built on real-world data, enabling it to make a better prediction on fuel consumption, speed, and other performance factors.
Considering the challenges of the shipping industry, the company has developed solutions to help shippers to streamline their operations.
Bearing said that its technology outperforms the industry’s traditional solutions that are expensive and manually intensive.
The technology deployed in the Bearing’s platform consumes data from multiple sources such as satellite positioning, weather data, and ship sensors.
By compounding this data with deep learning technologies, Bearing builds hyper-accurate models to forecast vessel performance in various operating conditions from storms to calm water.
The models provide a foundation for a range of products, including Smart Routing Engine, Performance Analysis Dashboard, and Ship Profile API.
Smart Routing Engine automatically evaluates all possible routes for an expedition and recommends the ideal route, as well as speed profile for fuel efficiency, market opportunities, and security.
Bearing said that its Smart Routing Engine has been deployed by its initial partner, MOL, a Japanese shipping company.
Performance Analysis Dashboard showcases accurate trends in efficiency for operators’ entire fleet and highlights actions that operators can take to enhance fleet efficiency.
Bearing developed and tested the dashboard in collaboration with Japanese shipping line K Line.
Furthermore, Ship Profile API enables shipping firms and other service providers to use Bearing’s deep learning models through an easy-to-use API to power their own tools.
Bearing partnered with ZeroNorth for the development and launch of the API.
Currently, Bearing’s API is driving ZeroNorth’s Optimise platform, enabling tramp shippers to augment their operations and increase overall profitability.