i4 Insight partners with GreenSteam to cut costs for shipowners

5 November 2020 (Last Updated November 6th, 2020 06:44)

i4 Insight has partnered with GreenSteam to offer solutions that will help drive reductions in greenhouse gas emissions and cut operating costs for shipowners.

i4 Insight has partnered with GreenSteam to offer solutions that will help drive reductions in greenhouse gas emissions and cut operating costs for shipowners.

i4 Insight is a creator of a platform that offers a single point of access for multiple data streams, which in turn, provides a complete view of ship and fleet operations.

GreenSteam provides machine learning for hull and improved vessel performance.

The i4 Insight Platform enables owners, operators, and charterers of ships to gain access to insights on performance and fuel consumption across all vessels in their fleet.

With the addition of GreenSteam’s advanced machine learning technology,  the i4 Insight Platform users will have a precise picture of those contributing to excessive fuel consumption. They can also gain access to actionable recommendations on optimising fleet performance.

Due to the huge volume of performance data, machine learning has become necessary to derive insights on complex factors affecting the performance of vessels.

GreenSteam said that it was one of the first companies to deploy machine learning to vessel performance data and its system can evaluate data from thousands of vessels.

GreenSteam executive chairman Shaun Gray 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.”

Gray added: “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.”

i4 Insight CEO Joel Meltzner 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 world. 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.”