Classification society Lloyd’s Register (LR) has announced the acquisition of Denmark-based GreenSteam, a marine data intelligence company specialising in improving vessel efficiency through machine learning.
The acquisition will be integrated into existing LR subsidiary i4 Insight, a digital platform providing performance and fuel consumption data for vessel fleets, adding GreenSteam’s machine learning capabilities in fouling analysis, dynamic trim and speed planning to the i4 portfolio.
i4 insight and Greensteam had previously agreed a strategic partnership late last year to integrate their two systems, allowing data from the respective applications to be more easily shared between the platforms.
LR says that the acquisition is part of an ongoing strategy to expand its portfolio of risk, technical advisory, commercial efficiency, vessel performance and voyage optimisation services following the June 2021 divestment of its Business Assurance and Inspection Services division. The class society already purchased cyber security company Nettitude in 2018, as well as navigation data firm C-MAP in late 2020.
“We want to help clients drive growth and solve complex problems through human expertise, integrated software solutions and the right insights from data,” said Nick Brown, LR CEO.
“When certainty is scarce, a trusted advisor is vital, which is why Lloyd’s Register is expanding its portfolio of fleet management and fleet optimisation services.”
“Our i4 Insight platform, now enhanced with the acquisition of GreenSteam, will enable our customers to optimise their operational efficiency and vessel performance, making their businesses more sustainable in an increasingly competitive world.”