Teekay LNG partners with Nautilus Labs for fleet optimization
By Nautilus Labs
(New York, New York – MARCH 26) Teekay LNG Partners L.P. signed a full fleet partnership with the New York-based startup, Nautilus Labs, to enhance the efficiency of its gas vessels. Nautilus Labs’ platform unifies all fleet data and leverages machine learning to optimize vessel performance.
Teekay LNG and Nautilus Labs began their partnership in February 2018 with a five ship pilot. Just nine months later, the Glasgow–based shipping company agreed to roll out the software platform to its entire fleet, making them Nautilus’ largest client globally.
Teekay aims to reduce operational costs and act on predictive decision support by leveraging Nautilus Platform. The software solution unifies the company’s various data sets and different systems to give a detailed analysis of fleet performance in real-time and to enhance collaboration across its organization. In addition, Teekay plans to leverage Nautilus’ technology to provide even higher service levels to its valued clients. The companies are closely partnering on the product development front, helping the technology disruptor build software that fulfills other business needs.
“Nautilus ties together a number of our performance monitoring systems, providing real-time insights and visibility into the impact of vessel operations and voyage management decisions, so that we can continuously optimize our fleet.” Mark Endall, Fleet Performance Superintendent at Teekay
Nautilus uses high-frequency data to build machine learning models that support shoreside and on-ship decisionmaking. On working with the New York-based start-up, David McRoberts, Teekay LNG’s Director of Business Development, Marine and Technical said, “It’s great to partner with a forward-thinking tech company like Nautilus Labs. We’re excited to continue working with the Nautilus team to bring advanced fleet solutions to LNG operations.”
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.
Teekay LNG Partners is one of the world’s largest independent owners and operators of LNG carriers, primarily providing LNG and LPG marine transportation services largely under long-term, fee-based charter contracts through its interests in 49 LNG carriers (including seven newbuildings), 22 mid-size LPG carriers, seven multigas carriers and three conventional tankers. The Partnership’s interests in these vessels range from 20 to 100 percent. In addition, the Partnership owns a 30 percent interest in a regasification facility, which is currently under construction. Teekay LNG Partners was formed by Teekay Corporation (NYSE: TK) as part of its strategy to expand its operations in the LNG and LPG marine transportation sectors.
Vanessa Roettger, Nautilus Labs