According to a recent statement, Maersk Tankers is launching a new standalone digital business with the aim to reduce CO2 emissions and optimize vessels’ earnings across the industry, in an acceleration of its digital strategy. The new standalone digital business was launched on Tuesday, January 7, 2020.
The business will develop and sell the software product SimBunker to vessel owners and managers in the industry with the aim to help them use their vessels more efficiently and further reducing CO2 emissions- supporting the shipping industry’s ongoing efforts towards more sustainable development as well as increased earnings.
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SimBunker optimizes vessels’ bunker spend, which can account for up to 60% of the total voyage costs, by determining optimal solutions for factors such as speed, bunker purchase and route. The software product was developed within Maersk Tankers and will be spun off into the new digital business, along with its related customer base.
According to the statement, Maersk Tankers has worked strategically to increase the use of digitization since 2016, by developing digital capabilities and products in-house, enhancing the customer and partner experience and forming strategic digital partnerships and alliances.
Namely, Christian M. Ingerslev, Chief Executive Officer of Maersk Tankers said that
Digitization will enhance customer and partner experience, transform our business and contribute to a more efficient operation, benefitting both sustainability and profitability. This becomes increasingly important at a time when the shipping industry must adapt to take its share in solving complex challenges posed by climate change and new regulatory requirements. With the new set-up, we will be able to accelerate our digital strategy.
When set off, SimBunker will be the sole focus of a dedicated team and management to develop the software product. The team will be built around employees from the existing Maersk Tankers Digital team, as well as new employees to be hired.
What is more, this will be led by Soren C. Meyer, who is currently Chief Asset Officer of Maersk Tankers. As Chief Executive Officer of the new business, effective 7 January 2020, he will, until further notice, report to Ingerslev and will leave his position at Maersk Tankers and the Leadership Team.
Moreover, Peter Schroder, Chief Digital Officer and his team will be working in close partnership with CargoMetrics Technologies, with which Maersk Tankers entered an equity agreement in 2017, among other initiatives.
The partnership has since then worked on the development of SimTanker, a software product that provides a data-driven trade signal to proactively position the fleet of vessels in the most optimal way, meeting both customer demand and increasing earnings. The in-house digital team will also work to digitize more of the pool partners’ ‘customer journeys’ with Maersk Tankers through the online partner portal, ‘InSite digital’.
Peter Schroder, Chief Digital Officer highlighted that
With this, we will further strengthen the company’s competitive advantage and differentiation in the industry. This entails maturing existing digital products and incubating new ideas. The priority will be given to products that lower CO2 emissions, increase earnings for partners and make it easier for them to do business with us, as well as to products that increase our ability to meet customer demand by having vessels in the right position at the right time.
Earlier in 2019, it was said that the world’s first digital shipping company was on its way; under its initiative ‘Contopia Factor’, the startup would select one organization to have its entire container fleet digitalized in 2019.
In September, the US-based trade services provider Cargill and Maersk Tankers announced a strategic partnership aimed to enable ships to improve flexibility and reduce fuel consumption and emissions.
Under the agreement, Cargill will enter its Medium Range (MR) fleet into the existing Maersk Tankers MR pool, creating a new joint pool to increase the scope of their MR spot tanker business.
The new team, to be managed by Maersk Tankers with members of Cargill’s tankers team, will be located across Copenhagen, Singapore and Houston and will cover all daily commercial and operational tasks.
The joint pool aims to enable vessels to get exposure to the spot market, while focusing on fuel optimization and CO2 emissions reduction, as well as a digitalized approach to trading.
