Bearing AI Expands AI-Powered Deployment Planner to Tramp Shipping

New capabilities will optimize emissions for tramp shipping companies

/EIN News/ -- PALO ALTO, Calif., June 26, 2024 (GLOBE NEWSWIRE) -- Following the success of its Deployment Planner for liner shipping companies, Bearing AI has announced a set of powerful new features designed specifically for tramp shipping companies.

Unlike liner operators, tramp shipping companies execute one-time contracts between ports of loading and discharge. This makes it difficult to optimize emissions performance while maintaining profitability.

The latest Deployment Planner for tramp shipping companies addresses these challenges head-on. By leveraging advanced AI models, Deployment Planner analyzes vast amounts of historical and real-time data to provide actionable insights into the most crucial operational challenges.

The Deployment Planner offers quick insights into the environmental impact of any upcoming contract and allows chartering, operations, and environmental teams to experiment with different vessel deployments to determine the best fit.

The Deployment Planner is built on powerful machine learning models and can predict the end-of-year (EOY) performance for every vessel in a fleet, whether or not they have a contract scheduled. These predictions provide unprecedented insight into vessel emissions and help tramp operators achieve superior emissions performance and profitability regardless of constantly shifting schedules.

The Deployment Planner helps tramp operators manage the complexities of variable contracts and clients by:

• Delivering Powerful EOY Predictions: forecasting performance based on vessel-specific historical data during uncontracted future periods provides a more realistic look at EOY emissions performance.
• Optimizing Vessel Deployment: supporting strategic vessel deployment based on potential routes, fuel efficiency, and regulatory compliance, making it easier to balance environmental demands with commercial objectives.
• Emissions Management: predicting emissions for different deployment scenarios, helping operators choose routes and schedules that minimize environmental impact while complying with international regulations.
• Improving Cost Efficiency: simulating operational strategies, allowing tramp shipping companies to identify the most cost-effective deployments in a sector where contract terms and destinations vary widely.

“Tramp shipping companies face a distinctly different set of operational challenges compared to their liner counterparts,” Kristofer Maanum, Senior Product Leader at Bearing AI, said. “Our new Deployment Planner is designed to provide the same level of precise, real-time insights for tramp operators, ensuring they can make informed decisions that maximize both efficiency and sustainability, regardless of the variability in their contracts.”

The Deployment Planner is an indispensable tool for managing fleet efficiency, mitigating compliance risks, and reducing operational costs.

For tramp shipping companies striving to enhance their environmental performance while navigating the unpredictable nature of their business, Bearing AI’s Deployment Planner is set to become an industry game-changer. To learn more about this revolutionary tool and how it can support your tramp shipping operations, visit our website at https://bearing.ai/.

About Bearing AI
Bearing AI is leading the charge in providing cutting-edge operational solutions for the modern maritime industry. Our robust platform uses proprietary AI models to tackle critical challenges in emissions management, schedule optimization, and environmental compliance. Trusted by top-tier shipping companies like K-Line and IINO Lines and backed by Mitsui & Co. Ltd. and AI Fund, Bearing AI sets the benchmark for fleet management and operational excellence.

Media Contact
Brianna Bruinsma
Firebrand Communications for Bearing AI
bearing-ai@firebrand.marketing
415-848-9175