Maersk Tankers has launched a new standalone digital business to reduce CO2 emissions and optimize vessels' earnings across the tramp shipping industry. The business has yet to be named.
The goal for the project is to develop and sell the software product SimBunker to vessel owners and managers in the tramp shipping industry to help use their vessels more efficiently. The product will help reduce CO2 emissions, supporting the shipping industry's ongoing efforts towards more sustainable development and increase earnings.
SimBunker has the ability to optimize vessels' bunker spend by determining optimal solutions for factors such as speed, bunker pruchase and route. The software product was developed within Maersk Tankers and will now be spun off into the new digital business, along with its related customer base.
Maersk Tankers has worked to increase the use of digitization since 2016, developing digital capabilities and products in-house, enhancing the customer and partner experience and forming strategic digital partnerships and alliances.
“Through significant and strategic investment, we have established Maersk Tankers as the digital frontrunner in the tanker industry. Digitisation 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,” says Christian M. Ingerslev, Chief Executive Officer of Maersk Tankers.
When SimBunker is spun off, it 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. It will be led by Soren C. Meyer, who is currently Chief Asset Officer of Maersk Tankers. As Chief Executive Officer of the new business, he will, until further notice, report to Ingerslev.
“The shipping industry has an enormous potential for digitisation, especially in commercial and technical areas. As a standalone business, we will be able to accelerate this development. We will be working with players across the industry to optimise pool partners’ bunker spend, using large data sets and analytics. We are confident that such collaboration and digital measures are instrumental in putting the industry on a path to greener growth. I am truly excited about the ambition of the new business and the task ahead,” says Meyer.