ZeroNorth AQUISITION OF EURONAV ‘FAST’ PLATFORM HOPES TO IMPROVE SUSTAINABILITY

Feb 1, 2024 | Maritime business news

Technology company ZeroNorth and tanker shipping company Euronav have announced that ZeroNorth will acquire and manage Euronav’s Fleet Automatic Statistics and Tracking (FAST) platform.

As part of the deal, Euronav becomes a customer of ZeroNorth’s full platform offering. FAST collects advanced high-frequency data in real time from sensors across Euronav’s fleet. Euronav has successfully implemented the FAST platform across its fleet, using ship reporting, voyage optimisation and ship optimisation through the use of high-frequency data. FAST is believed to have significantly improved collaboration between ships and shore departments, optimised vessel and fleet utilisation, reduced fuel consumption, and lowered Opex. These improvements have had a positive impact on Euronav’s bottom line results and helped improve its sustainability strategy. The data can power up voyage and vessel optimisation decisions, allowing crew and shoreside teams to collaborate in making live adjustments to improve sustainability and profitability for Euronav’s fleet of globally operating vessels.

Over time, the plan is for ZeroNorth and Euronav to integrate FAST’s data and full functionality with the ZeroNorth platform. This is expected to help accelerate the industry’s green transition and increase the company’s positive impact on the market. The transfer comes at a time of increasing transformation for the global trade value chain, with digitalisation and data now at a tipping point for impact.

Pelle Sommansson, Chief Growth Officer and EVP, ZeroNorth, said: “We are extremely excited by this new partnership with Euronav, which is already recognised as one of the most sustainable and progressive companies in the shipping industry. By acquiring FAST and incorporating it into our existing platform, we believe we will accelerate the transformation and sustainability strategies of a large part of the global fleet. High-frequency data is the solution to many industry challenges. Optimised journeys play a major role in achieving zero emissions in our industry. That’s why we are proud to work with like-minded leaders at Euronav, because together we can change the way that our customers, and shipping as a whole, operate for the better.”

Patrick Declerck, Operations Manager, Euronav, added: “Euronav has a clear ambition to be a leader in sustainability and efficiency. We are proud to partner with ZeroNorth, which is already making a significant impact on enabling green global trade. Together, we are leading brands focused on creating a better world. We believe this new partnership will enable us to drive the journey to zero emissions across the shipping industry to decarbonise today and navigate tomorrow. This will make more parties aware of the transformative impact data can have on their operations.”

Image: Søren Meyer, CEO ZeroNorth and  Alexander Saverys, CEO Euronav parent CMB Group (Credit: ZeroNorth/Blue Comms)

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