Exploratory Data Analysis of Bunker Prices
Commercial shipping makes up about 75 % of the global transportation. Cost for bunkers makes up 50-80 % of a vessel’s operating costs. Therefore, operators always want to minimize fuel spending. In a short-term perspective, bunker costs will be controlled by tuning speed and consumption, negotiate favourable bunker clauses in the charterparties, bunker hedging or trying to optimise bunker purchase and volumes. Operators have so far not addressed the timing of purchase as a means to reduce bunker costs. However, access to reliable real-time bunker trading data from many ports simultaneously might make timing of bunker procurement more interesting as a variable to be optimized.
Vessel Destination Forecasting Based on Historical AIS Data
Our full stack developer Morten has finished his Master's degree in Applied Computer Science. For his final dissertation he chose to collaborate with Maritime Optima and dive into the topic of vessel destination predictions, investigating the possibility of applying Machine Learning (ML) techniques to the problem area. The thesis was finished in June 2021, and it was titled “Vessel destination forecasting based on historical AIS data”. In this blog post, Morten will explain some of the process he used to construct voyages from historical AIS data, build a ML training dataset, and train a model to predict vessels' next destinations.
Data Security in Maritime Optima
This blog post is about how we address data security and integrity in Maritime Optima. Some of the mechanisms we use to secure your data include; hosting by Microsoft Azure, requiring authenticated verified users, the use of HTTPS, encrypted databases and file systems, backups of customer data. Maritime Optima is available as Android and iOS apps, in addition to the web application, and data security on mobile devices is a challenging area which requires vendors, customers and users to work together. Read about what we do in Maritime Optima and what we recommend that each customer does to ensure high data security.
AIS and the Main Categories of AIS Challenges
AIS is an old technology. However, AIS accelerated from 2008 when governmental organizations and large companies as ORBCOMM, ExactEarth etc. deployed AIS transceivers on low orbit satellites because these low orbit satellites changed the capability of the AIS technology. In spite of errors and weaknesses the AIS in combination with these low orbit satellites and affordable connectivity with low latency, is already influencing the commercial side of shipping. In addition the new satellites like the NorSat-3 and improved technology, like VDES, for two-way communication between satellites, ships and land, will improve the AIS data quality and will push the maritime industry into new "deep digitalised waters".
If data is supposed to be the new king, the industry is facing a severe "data challenge" and without machine readable data, there will be no magic 👍
The industry has always had a particular interest in collecting information and data. The data and information have been exchanged between humans, on phones, in e-mails and chats, and in meetings or over lunch, and the data was «never meant to be» exchanged between computers. Therefore, the commercial side of the maritime industry has had little focus on making the data possible for computers to read and understand. So when start-ups are promoting: "We know all about machine learning, so if you give us your data, we can show you some magic," that sounds attractive, but magic rarely happens. In this post I'll share some of the questions we are discussing while developing Maritime Optima and our company.
Digitalisation & Innovation? OK, but can we continue working as we have done please?
We have not changed much how we have organized ourselves on the shipping industry's commercial side during the last 20 years. However, the race for data, standardization, and our belief in "what algorithms can do for us" will fundamentally change how we organize our commercial work and how we make decisions. But, remember it is not all about data, software and digitalisation, it's a lot about peoples knowledge, your business model, how you organise your teams and what kind of risks you are comfortable to take on. The algorithms need data and time to change this industry, so you still have time to adopt. So keep calm and start with a SWOT analysis and ask yourself some key questions 😊 This is what I told some students at The Norwegian School of Economics 😊
The power of maritime collaboration
Emails are time-consuming and there is software much better suited to organize communication and distribute information than e-mails. Very often such software is referred to as platform software because the users can exchange data, communicate and collaborate more efficiently, and the information and data are stored to the project, building, vessel, voyage, etc, and it is easy for the organization to search for and find the relevant data, even though a team member has left the team or the organization.
Sorry Sir, I have some bad news, the digital transformation is not one place but everywhere
One of the most common response to digital threats is: “If I’m going to be disrupted, then I need to create something completely new.” No, you don’t, if you are going to be disrupted you only need to understand your business and start building your data infrastructure. Digital innovation might just be “Turning your knowledge and an idea into a solution that adds value from a customer’s perspective”.
Mobile first – what does that mean?
In 2019, 80% of the persons browsing internet uses their mobile devices which means web design, data security and latency must cater to a vast amount of mobile users if a software company developing and distributing an application want to succeed. MaritimeOptima - a maritime office in your pocket for FREE
Piracy and Anti Shipping Activity Messengers
In a world where trade, economies and populations are growing fast, the long‐term availability of cost‐effective, efficient, environmentally sustainable, safe and secure maritime transport services is crucial. Article 101 of the United Nations Convention on the Law of the Sea (UNCLOS) sets out the definition of piracy under international law. In Maritime Optima you will find Anti-shipping Activity Messages distributed on locations (in the Maritime Optima maps). The messages are updated every 24 hours and you will find all the adverse events against ships and mariners reported during the last 365 days.
Global Sulphur regulations / ECA / SECA Zones
Global Sulphur regulations As of 1st January 2020, International Maritime Organization (IMO) enforced the Sulphur Emission Regulations which requires that all ships shall reduce their Sulphur emissions from 3,5 % to 0,5% in all of the world's sea. The implementation of the global 0.50% sulphur limit has not changed the requirements applicable in the four ECAs designated under Regulation 14 of MARPOL Annex VI. So in the North American, US Caribbean, North Sea and Baltic 0,10% sulphur limit continue to apply. There are a "new" industry growing up due to these relatively new environmental requirements in the maritime industry discussing how to comply with these new environmental regulations.
Stowage - what and why
Restrictions at port and berth may set limitations to how much cargo your vessel may carry. But have you also taken into account that the specifications of the cargo may limit your intake as well? In this article we touch upon what we mean by "stowage" and describe some of the major dry bulk commodities.
Transporting goods entails navigating in shallow waters, lock, river bends and canals, with commodities requiring different design and equipment. Smaller size vessels are better fit to enter small ports or trade on inland waterways, canals and rivers. They are often equipped with cranes, making them less dependent on ports loading/unloading facilities. Larger vessels are used in transportation between large industrial regions and are often used in trades between ports that are far apart. In this article we introduce some of the variations you find in Maritime Optima.
Different types and sizes of Liquefied petroleum gas (LPG) carriers
LPG is Liquid petroleum gas and prepared by refining petroleum or "wet" natural gas, and is almost entirely derived from fossil fuel sources, being manufactured during the refining of petroleum (crude oil), or extracted from petroleum or natural gas streams as they emerge from the ground. LPG vessels are divided into fully pressurised ships, semi-refrigerated ships and fully refrigerated LPG. Ethylene ships are semi refrigerated ships able to transport cargoes at -104 °C.
Different type and sizes of Liquefied natural gas (LNG) carriers
The gas carriers are designed to carry different types of bulk gasses and the vessels are technically advanced and are often classified into two main segments; LPG (Liquefied petroleum gas) and LNG (Liquified Natural Gas). LNG vessels are specifically designed to trade a high volume of LNG. The Liquified Natural Gasses are natural gasses (predominantly methane, CH4, with some mixture of ethane, C2H6). Most of the LNG ships have a cargo carrying capacity between 125,000 cum to 260,000 cum. The most popular size is upto 180 000 cum.
Different type and sizes of tanker vessels
Tankers or tanker vessels are designed to carry liquid cargoes in bulk. They are in almost any size and their size is measured in cargo carrying capacity and the unit is either cubic meter or metric tons (dwt). The majority of tanker vessels carry oil, chemicals, or gas. Some tankers are built for very specialized cargoes and only carry one specific product: such as bitumen, freshwater, or wine, while other oil tankers carry many different types of liquid products such as chemical and clean cargoes.
Different type and sizes of Dry Bulk vessels
A trained eye can easily determine vessel types on the sea. For the rest of us, information such as commodity, deadweight etc helps differentiate the various types of vessels. However, since there are no standard written definitions for segments and sub segments, every company has to define their own definition of segments and sub segments. We have used the classifications societies definitions, we have asked our R&D partners trading different type of vessels to forward their definitions and we have used companies web pages and some data providers definitions. Below you will find some criteria used when people organise segments and sub-segments in the dry cargo business.
Maritime Optima Hires Sven Ziegler to Head Shipping Intelligence / Data Science Unit
Sven is a well-known and experienced Shipping/Offshore Market Analyst.“I am looking forward to working with the team and the data in Maritime Optima”, Mr Melsom Ziegler says. “I was introduced to the team and their data platform during the spring. It is rare to find a startup investing so much in maritime data quality and seeing such a competent team with so much passion and willingness to improve data quality continuously. Since the industry lacks clear definitions of most data, someone must start doing this thoroughly because machines need clear definitions to create value for humans. Otherwise, the gains from digitalization and automation will be hard to obtain. Here we have a unique data platform that enables state-of-the-art shipping/offshore models and analysis”.
Maritime Optima Scholarships for Master Students
Maritime Optima AS has the opportunity to grant two scholarships of NOK 25,000 per semester. The applications are assessed based on the master's thesis' relevance to Maritime Optima, the student's academic qualifications, and project description. All students who are affiliated with a master's program in programming, machine learning, finance, or international economics can apply. Maritime Optima AS is a company with machine-readable maritime data and industry knowledge, and we want to learn and be challenged by ambitious master students.
We are happy to announce we have signed a 5 years contract with Orbcomm
We are happy to announce we have signed a 5 years contract with Orbcomm, a Nasdaq listed company and one of the world's biggest global AIS coverage providers. We are now receiving updated AIS positions from more than 600 satellites and terrestrial AIS senders on more than 65 000 vessels. That is a lot of AIS data.
BunkerEx and Maritime Optima entering into a partnership
In Maritime Optima, you will find information on more than 5 200 ports. BunkerEx provides bunker prices for different bunker grades and info on bunkers available in various ports. We approach the same type of users. We are both companies wanting to nudge the maritime industry to change old habits because it will save time, reduce costs, and benefit the environment. Both parties will continue developing our products, so let's see what the future will bring, says Omholt-Jensen. Ishaan Hemnani, Co-Founder of BunkerEx, commented, "We are excited to partner with other forward-thinking companies in the Maritime space, and Maritime Optima was no exception. Like all our partnerships, the idea is always to benefit the end-user by providing seamless, accurate data in a single place."
Norwegian maritime start-up ready to set sail
The Norwegian start-up Maritime Optima is preparing to launch a better digital interaction tool for the shipping industry. Despite troubled markets and Covid19, the company is gearing up for growth. To aid the launch of their new product, the company has increased staff, added new board members and successfully raised capital.
Meet our new Board of Directors
An era is over and replaced by another one. Thanks a lot to Thorleif Thorleifsson for founding the company together with Simen and Kristin. Thanks for serving as our Chairman of the Board. Thanks for being such a great coach for me (Kristin) after I left Rendra and we gradually decided to make Maritime Optima into a real company. Maritime Optima continue her voyage with a new Board of Directors but you will always be a part for the soul of this company.
Har fått 1 mill NOK i koronastøtte fra Innovasjon Norge
Kristin Omholt-Jensen (54) har levd det meste av livet innen sjøfart. Den nåværende havnen er Aker brygge. Der driver hun oppstartsselskapet Maritime Optima, som hun grunnla sammen med to av sine sønner i april 2018.Som første selskap har de mottatt tilskudd av koronapenger fra Innovasjon Norge.
Maritime Optima - A new company is born
My dream is to create a software releasing more time for value-creating work and building value network because digitalization is about strengthening knowledge and competence. In a world being digitalized, it becomes even more important to be skilled in a subject and to learn to work in teams.