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Windward’s new ‘Data for Decarbonization Program’ leverages on power of big data and AI

15 Sep 2021

Maritime AI technology firm Windward on Tuesday (14 September) launched the Data for Decarbonization Program (D4D), a partnership aimed to increase transparency and foster collaboration within the maritime industry by leveraging the power of big data and AI.

The program will ignite participation across the maritime ecosystem including financial institutions, shipowners, insurers, charterers, and energy companies. Existing members include ADNOC Logistics & Services, ASM Maritime, Executive Ship Management (ESM), SOKANA Shipping, and Interunity.

Alternative fuel options have still not reached widespread adoption and have a long timeline for development.

By coming together as an industry and pooling best-in-class vessel operational data as well as AI and bunker fuel consumption data, it is possible to affect the trajectory of the industry’s carbon emissions by 5%-20% on a per-voyage basis, it say.

The Windward Data for Decarbonization Program aims to create large datasets gathered from all stakeholders in the maritime trade industry to build AI models that will accurately predict the carbon emissions of any vessel voyage, and optimize the whole pre-fixture process – including vessel selection, contract clauses, and supply chain scheduling.

Current solutions are based on static and historical data, primarily on vessel specifications, and lack the high level of accuracy needed in this space. Often they do not consider variables such as weather, a vessel’s operational profile, ballast/laden status, the ballast leg, and hull fouling.

The Data for Decarbonization Program will not only see the creation of a solution but will also bring value to members by accelerating the learning curve of understanding their own data, enabling them to better optimize their own assets. The program also benefits the industry at large by fostering interdisciplinary collaboration between data scientists, bankers, shippers, IT specialists, commercial teams, and ESG teams.

The Data for Decarbonization Program will enable shipowners to cut bunker fuel costs by optimizing vessel operations without depending on the coverage of expensive IoT devices and hardware, and allows them to compare their fleet to others.

Charterers will be able to optimize their pre-fixture vessel selection by choosing the optimal performing vessel, optimizing the ballast leg, and during the post-fixture phase adapting a smart ETA and laden speed to real operating conditions

Freight forwarders and beneficial cargo owners will be able to measure carbon shipping performance for every container, accounting for the particular vessel and projected route of every shipment thus offering end customers a “green premium” option of low carbon shipping.

Trade financiers will be able to independently verify the environmental impact of financing decisions thus exercising sustainable trade financing.

“The answer to reducing carbon emissions lies in the Power of Many. Regulation is necessary, but the solution needs to come from within to ensure that the global supply chain continues to function and garners the trust of the general public,” said Ami Daniel, CEO & Co-Founder of Windward.

“The maritime shipping industry is headed to decarbonisation. Those that invest in sharing data and insights now will benefit from the advantages of an accurate model trained specifically for the industry’s unique operations.

“Together we can realize a solution that will allow all stakeholders to analyse, predict, and price their carbon footprint, improve their bottom line, and accomplish a carbon-free future.”

 

Photo credit: william william on Unsplash
Published: 15 September, 2021

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