The Signal Ocean Platform has added a new Dry Bulk module, following approximately two years of development in partnership with shipbroker Simpson Spence Young (SSY) and beta testing with some 30 shipowners and charterers.
Launched by Signal Group in 2018, the Signal Ocean Platform is already used in the tanker market by shipbrokers, shipowners, traders and energy majors to process and combine streams of private and public data such as AIS, tonnage lists, cargo lists, vessel positions, port costs, port line-ups and freight rates.
Using the Signal’s algorithms and artificial intelligence, data is transformed into private and actionable insights on the freight market. Users can optimally match vessels to cargoes, run profitability comparisons, make CO2 estimates, and use the technology to forecast vessel movements and availability across the globe.
“Adapting our tanker technology to dry bulk was not straightforward. Working with the dry desk at one of the world’s leading shipbrokers, and a few select clients, helped us develop a dry bulk solution which is relevant and simple to use,” said Signal Group Chief Executive Officer Ioannis Martinos.
“We now look forward to engaging commercial teams around the world to extend and improve the product further.”