Windward, a Predictive Intelligence company that uses AI to transform maritime commerce around the world, announced on Sep 14, 2021, the launch of the Decarbonization Program (D4D), a partnership designed to increase transparency and promote cooperation in the marine industry through enormous data power and AI. The program will encourage participation in all marine ecosystems, including financial institutions, shipowners, insurers, leasing companies, and energy companies. Its members include ADNOC Logistics and Services, ASM Maritime, Executive Ship Management (ESM), SOKANA Shipping, and Interunity.
The maritime industry carries 90% of world trade. It accounts for almost 3% of global carbon dioxide emissions; this number is expected to rise as maritime trade volume will triple by 2050. Regulatory organizations, including the EU and IMO, are increasing regulations to reduce carbon emissions. Still, the majority of maritime stakeholders are struggling to make commercial decisions that lead to carbon emissions.
Other fuel options have not yet reached widespread acceptance and have a long line of development. By coming together and combining the highest performance data with AI and fuel consumption data, it is likely to affect carbon emissions in the sector by 5% -20% on each trip.
The program aims to create large data sets collected from all participants in the maritime trading industry to build AI models that accurately predict carbon emissions of any voyage and improve the entire pre-processing process - including ship selection, contract selection categories, and planning procurement. Current solutions are based on historical and static data, particularly on vessel specifications, and do not have the high accuracy required for this space. Typically, they do not consider flexibility such as weather, ship performance profile, ballast / loaded condition, hull fouling, and ballast leg.
The data for the Decarbonization Program will see the development of a solution. They will also bring value to members by speeding up the learning curve to understand their data, enabling them to improve their assets. The program benefits the entire industry by promoting collaboration between data scientists, banks, dispatchers, IT professionals, marketing, and ESG teams.
The shipowners will be able to reduce fuel costs by increasing shipping efficiency without relying on expensive IoT devices and hardware and comparing their vessels with others. The charterer will be able to increase the pre-selection of their pre-selected ship by selecting a more efficient boat, improving ballast leg, and transforming the intelligent ETA with a speed that carries actual working conditions during the preparation phase.
Shipping and profitable cargo holders will be able to measure the performance of carbon shipments on all containers, specific ship counts, and the proposed route of all shipments, thus providing final buyers with a ''green'' option for low carbon shipping. Commercial investors will independently determine the environmental impact of financial decisions and therefore use sustainable trading funds.
"The answer to reducing carbon emissions lies in the Power of Many. Control is needed, but a solution needs to come from within to ensure global sales continue to operate and maintain public trust," said Ami Daniel, CEO & Co-Founder of Windward. "The maritime industry is geared towards cooling. Those who invest in data sharing and understanding will now benefit from the benefits of an accurate model trained in the unique activities of the industry. and achieve a carbon-free future. ""