Greek maritime technology company VesselBot has been awarded a start-up grant worth S$30,000 by authorities in Singapore, after being announced as the winner of the enterprise track of the Trade and Connectivity Challenge 2020 (TCC 2020).
VesselBot uses Artificial Intelligence (AI), Big Data analytics and Machine Learning (ML) to support shipping company decisions on bunker utilisation, with the company having been shortlisted for the TCC 2020 competition by Singaporean container shipping company Pacific International Lines as its ‘challenge partner’.
The VesselBot system allows for real-time synchronisation of data collected by the vessel with other sources, such as port information and onboard sensors. As the data is collected in real-time, the system identifies the optimal operational plan for the vessel to allow the shipping company to proactively monitor and reduce bunker consumption.
TCC 2020 received close to 140 submissions across its two tracks (industry and enterprise), up from about 50 in 2019. More than 40 of the submissions were from Europe, Asia, and North and South America, the organisers said, a five-fold increase from last year.
Three other start-ups – Conundrum, DataKrew and Hand Plus Robotics – won a commendation prize, whilst Koireader Technologies won a merit prize. All five start-ups, including VesselBot, will have the opportunity to conduct paid test trials with their relevant ‘challenge partners’ like Pacific International Lines. The test trials are expected to commence in early 2021.
