PALO ALTO, Calif., March 06, 2024 (GLOBE NEWSWIRE) -- Bearing AI, the leading artificial intelligence solutions provider in the maritime industry, has announced an innovative update to their Fleet Deployment Optimizer (FDO) solution that promises to revolutionize how shipping companies manage their emissions in light of the new European Union Emissions Trading System (EU ETS) regulations.
Compliance with EU ETS is an imposing challenge for the maritime sector. With the introduction of this regulation, all ships calling at ports in the European Economic Area are accountable for their carbon emissions via EU Allowances (EUAs) — a responsibility carrying substantial financial implications.
Bearing AI is meeting this challenge head-on with a new EUA forecast and simulation capability. When uploading a vessel schedule to the FDO platform, our advanced AI provides a projection of specific vessels’ EU ETS obligations for that schedule. This updated feature can provide an upfront estimate of the EUAs of a single voyage or the deployment plan for the rest of the year before a single vessel has left the dock.
This groundbreaking functionality also supports the simulation of alternative deployments and vessel distributions to identify the most economically advantageous and eco-friendly schedules.
"In our commitment to propel the maritime industry towards a more sustainable and economically viable future, the updated FDO platform stands as a testament to Bearing AI's innovative spirit," Dylan Keil, Co-Founder and CEO of Bearing AI said. "Navigating the complexities of EU ETS compliance is no small feat, and with this upgrade, we aim not just to simplify compliance but to empower our clients to make strategic decisions that benefit both their bottom line and the planet."
Real-time EUA projections are displayed alongside crucial voyage information, such as emissions predictions and the vessel's projected Carbon Intensity Indicator (CII) Rating. This enhancement empowers fleet managers with actionable data to make informed decisions swiftly and efficiently.
Bearing AI acknowledges the mounting pressures on the shipping sector to spearhead sustainable operations. This refined tool not only aids in navigating the immediate financial landscape shaped by the EU ETS but also aligns with long-term environmental stewardship by facilitating proactive carbon footprint management.
Ship owners and operators can now effortlessly plan with the future in mind, as this feature mitigates their operations' financial and environmental costs.
About Bearing AI
Bearing AI has been at the forefront of maritime innovation, offering state-of-the-art technological solutions designed to enhance the efficiency and environmental footprint of the industry through data-driven decision-making. With a focus on machine learning and advanced AI strategies, Bearing AI continues to steer the shipping sector towards a more sustainable future.
For more information on how Bearing AI's technology sets the standard for efficient fleet management and compliance, visit our website at https://bearing.ai/.
Media Contact
Brianna Bruinsma
Firebrand Communications for Bearing
bearing-ai@firebrand.marketing
415-848-9175
