Antonio Albiero, Singular Point, Switzerland, explains a solution that can help companies ride the rising tide of digitalisation.
The dry bulk industry has been subject to perpetual change over the years, and the rising tide of digitalisation is one of the many important contributing factors towards this.
As such, an effective shipping solution must be able to embrace and attune to those changes without having to undergo major modifications or reengineering, imposing minimum costs on an organisation.
Many shipping companies today are implementing digitalisation strategies to gain greater insight into operational efficiencies. The advancing Internet of Things (IoT) and increasing capabilities of sensors provide opportunities for companies to collect high quality data on ship performance and transfer it between ship and shore to step up fleet performance and gain competitive advantages.
However, one challenge for shipping companies is dealing with the logistics of managing often overwhelming quantities of data that will typically come from multiple sources. Usually, this data is raw and requires manipulation to turn it into information that provides value for the user. The market is becoming increasingly competitive and data transport and translation into useful, meaningful information is a challenge.
To tackle these logistical difficulties, Singular Point has developed MARiS, a blockchain-enabled solution that assists shipping and chartering companies with developing their business activities under one single platform. MARiS focuses on turning data into value and eliminating all data boundaries.
The solution, which can be deployed on the cloud or on-site, is based on an architecture that facilitates integration of all data, regardless of source and size, to present useful information to a company that can be used to improve management and business performance. For instance, the platform can compare simulations of different voyages across each vessel over any timeframe to provide a comparison of performance technology and overall business, helping users to analyse the economic potential of their business.
This is an abridged version of an article that was originally published in the Autumn 2020 issue of Dry Bulk Magazine. The full version can be read here.
Read the article online at: https://www.drybulkmagazine.com/dry-bulk/25112020/on-the-crest-of-a-wave/