Shipbroker Simpson Spence Young (SSY) has decided to strengthen its Big Data capability by investing in Swedish tech company Marine Benchmark, a specialist in maritime data analytics.
As informed, the new partnership is expected to enhance and strengthen SSY’s client offering, as Marine Benchmark will provide expertise in statistical analysis across a wide range of maritime market data.
Meanwhile, SSY’s resources and reach will further strengthen the Marine Benchmark’s presence in the global market for maritime research and data, the company said.
“We are entering a new era in shipping, where data technology and intelligence is becoming increasingly important. Big Data has a pivotal role to play, in everything from vessel design and fleet performance right through to cargo delivery and benchmarking the IMO’s CO2 emissions goals,” Mark Richardson, Chairman of SSY, commented.
“Our collaboration with Marine Benchmark will utilise their expertise in this field, positioning SSY at the forefront of future machine learning and AI in shipping, supporting our brokers and adding value to our clients.”
Marine Benchmark’s global analytics platform contains a comprehensive range of vessel and voyage data derived from AIS, the shipping market and the financial industry.
“This is a significant move for Marine Benchmark, and we are very pleased to join forces with Simpson Spence Young so that we can further develop our platform and extend our global market reach. Shipping offers up a vast quantity of data, and our passion is to continue creating ways to generate value,” Börje Berneblad, Vice President, Head of development, Marine Benchmark, said.
“Understanding what is happening at a granular level is key to making changes that can drive improvements across the shipping industry, and no matter what field you work in, be it a shipowner, trading house, shipyard, investor or financial institution, our global statistical platform can provide you with that information.” Torbjorn Rydbergh, Managing Director, Marine Benchmark, explained.