U.S. international trading company Cargill Inc on Wednesday (2 September) invested in ZeroNorth and committed its entire operated fleet to using the Optimise software to reduce CO2 emissions through digital technology.
ZeroNorth, the recent spin-off from Maersk Tankers, helps vessel owners and operators in the tramp shipping industry to reduce CO2 emissions and optimise earnings through its software Optimise, it explained.
The collaboration will support ZeroNorth in further developing its offering and growing its customer base to just under 1,000.
“By using the quantitative data approach on vessel performance, Cargill’s customers will benefit from reduced CO2 emissions and bunker consumption,” said Jan Dieleman, Business Leader for Cargill Ocean Transportation.
“Reducing CO2 emissions through improved vessel performance is a critical part of our business and we recognise the value of collaboration with fellow industry leaders to achieve this.
“By partnering with ZeroNorth, we will combine Cargill’s experience in chartering and trading with ZeroNorth’s expertise in software engineering.”
In June 2020, ZeroNorth announced it was looking for a new investor alongside Maersk Tankers to grow and develop the company into an industry-wide platform for the global tanker and dry bulk fleet, it said.
As an investor, Cargill added it will play an active role in shaping the company’s strategic direction. Cargill has been a customer since 2019, testing the Optimise software on part of its chartered fleet.
“By having Cargill onboard as a large-scale customer and investor we are taking yet another step towards digitising the tramp shipping industry to make a positive impact on the climate,” said Soren C. Meyer, CEO at ZeroNorth.
“We are excited to have Cargill and Maersk Tankers, two industry leaders, as both owners and customers of ZeroNorth. They share our commitment to leading the industry to a more sustainable future and we will harness their insight to deliver value for our customers, and for the industry as a whole.”
Cargill notes that the agreement is subject to antitrust review and approval.
Photo credit: Zero North
Published: 3 September 2020
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