A new tool to help shipping companies accurately predict Carbon Intensity Indicator (CII) scores has been launched by California-based artificial intelligence (AI) specialists Bearing, reports Ship And Bunker.
About the tool
The tool’s launch comes ahead of a January 1, 2023 requirement by the International Maritime Organization (IMO) for ship owners to report CII on an annual basis. with each vessel receiving a grade from A to E.
“The business stakes are high. Vessels with better CII scores are expected to command higher market rates, while those with lower scores will be forced to charge less,” the company says.
Bearing’s AI-powered application uses large amounts of data about the global shipping fleet, rather than sensors on the ships themselves, to make predictions about vessels’ fuel consumption, speed and other aspects of performance.
Those predictions can then help shipping companies increase their ratings and make better-informed business decisions about the effects of the regulations.
“We’re all about helping shipping companies make smarter, more data-driven strategic decisions,” said Bearing CEO Dylan Keil.
“These companies know the new CII regulation will affect their business, but they have no way to accurately assess its impact on a ship-by-ship basis. We do, by combining our best-in-class AI models with data from around the world. With our CII Optimization product, shippers can see what we see and take the steps they need to reduce their environmental impact while improving their bottom line.”
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Source: Ship And Bunker