Nautilus Labs is honored to announce that we’ve been selected as a Bloomberg New Energy Finance (BNEF) Pioneer 2021. An independent judging committee selected twelve winners out of over hundreds of applicants from across the world. For more than a decade, the Pioneers program has identified game-changing technologies and innovations with the potential to advance decarbonization and fight climate change. This year, BNEF analysts identified three global net-zero challenges to focus on and award innovators with scalable and impactful solutions.
Shipping is vital to the global economy.
As the industry that powers 90% of global trade, ocean shipping plays a critical role in the decarbonization process and the path toward a carbon-free future. If our industry were a country, it would be the sixth largest emitter worldwide, with 1,056 million tonnes of CO2 produced annually – more than Germany or South Korea. During these unprecedented times, the shipping sector has never seemed more important, keeping us all supplied with essential goods. Recent incidents such as the blockage of the Suez Canal only emphasize how our entire system of global trade is dependent on ocean shipping.
Every decision. Every day.
At Nautilus, we know that it’s not about specific high profile incidents though, it’s about every decision that matters. Every day, teams on ship and on shore have to take actions to effectively operate their vessels – and often those actions are driven by intuition and instinct, rather than data. Across the global fleet of 55,000 ships, that leads to millions of decisions being made in every geography and every timezone, each day. And to power operations of that scale of the operations, it means over $150 billion worth of fuel consumed each year
If there are risks, there are opportunities.
But 30% of the fuel consumed can be saved with better decisions driven by the adoption of machine learning and artificial intelligence. By embracing digitalization and innovative technology, ship owners and operators have the opportunity to monitor historical and real-time ship performance and get access to predictive decision support systems to know exactly how to calibrate systems onboard for optimal efficiency, and how to manage the speed of the vessel during a voyage given current weather and market conditions. Each data-driven decision has the ability to drive down fuel consumption, and reduce the greenhouse gas footprint.
Change within the industry.
We see the recognition of Bloomberg not just as one for Nautilus, but as one for our industry, which is embracing new ways to achieve a carbon-free future, to drive change and save the planet we all share. We’re proud to be leading this change, helping ocean shipping businesses reduce their carbon footprint, while also improving the financial returns on their fleets. We’re looking forward to growing by partnering closely with our clients, and to delivering innovation that fosters greater collaboration and transparency in our industry.
CEO Matt Heider joined Bloomberg Quicktake
CEO Matt Heider joined Bloomberg Quicktake on April 12, 2021 to discuss the impact of machine learning and artificial intelligence on the sustainability of ocean shipping. The interview starts at 25:00.
