Pangaea Logistics deploys Nautilus across wider fleet for access to voyage optimization
By Nautilus Labs
(New York, NY / Newport, RI — OCT 02) Nautilus Labs, the technology firm advancing the efficiency of ocean commerce through artificial intelligence, and Pangaea Logistics Solutions Ltd., a bulk carrier and ice class vessel owner/operator headquartered in Newport, RI, expanded their partnership to include a large part of Pangaea’s fleet of bulk carriers.
Pangaea and Nautilus began their initial collaboration in October 2018 and have since committed to expanding it to 12 vessels in Pangaea’s fleet. As a forward-thinking bulk owner/operator, Pangaea seeks a solution that allows reliable capture of high frequency vessel data, analysis of fleet performance in real-time, and sending of operating recommendations to ships and operators to optimize each voyage’s outcome. Nautilus’s decision support solution has uncovered significant operational efficiencies for the bulk owner/operator, and Pangaea is in the process of deploying the Nautilus solution and optimization benefits across the rest of the fleet.
On working with the technology company, Mads Petersen, Managing Director at Pangaea’s Nordic Bulk Carriers, said, “We are excited to work with Nautilus in implementing their platform into our operations to be able to harness, and effectively use, the performance data accumulated across our fleet. This is an important step towards reducing the emissions from our operations by optimizing vessels routing and speed, and in turn expand our industry leading TCE earnings premiums.”
Matt Heider, CEO at Nautilus Labs, commented, “While the shipping industry is extremely data rich, unfortunately, many companies still can’t process and analyze this data in a useful way. By partnering closely with Pangaea, Nautilus helps to empower operators and crew with smart operating recommendations powered by our machine learning models that uncover meaningful savings, driving them one step closer to achieving operational excellence. We’re proud to be expanding our partnership with such an innovative and forward-thinking company.”
Nautilus Labs is advancing the efficiency of ocean commerce through artificial intelligence. With hubs in New York and Singapore, the firm is trusted by clients across the globe to help make better, real-time decisions that ultimately unlock transformative outcomes—at sea and on shore. By partnering with Nautilus, ocean shipping leaders can maximize returns for every vessel and voyage while driving cross-team collaboration, greater transparency, and stronger accountability for their companies, shareholders, and the planet we all share.
About Pangaea Logistics Solutions Ltd.
Pangaea Logistics Solutions Ltd. (NASDAQ:PANL) is a global provider of comprehensive maritime logistics and transportation solutions headquartered in Newport, RI. The Company addresses the logistics needs of its clients by undertaking a comprehensive set of services and activities. Pangaea not only owns and operates a large fleet of bulk carriers, including high ice class vessels, it also designs, produces and operates port and inland projects.
Vanessa Roettger, Nautilus Labs