ZeroNorth will acquire and manage Euronav’s Fleet Automatic Statistics and Tracking (FAST) platform. As part of the deal, Euronav also becomes a customer of ZeroNorth’s full platform offering, according to the company's release.
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 has significantly improved collaboration between ships and all shore departments, optimised vessel and fleet utilisation, reduced fuel consumption, and lowered OPEX. These improvements have had a tangible positive impact on Euronav's bottom line results and have also helped improve its sustainability strategy.
The data can power up voyage and vessel optimisation decisions, allowing crew and shoreside teams to collaborate in making the most detailed live adjustments to improve sustainability and profitability for Euronav’s diverse 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 high-frequency data and FAST’s existing functionality will drive ZeroNorth’s data flywheel, accelerate the industry’s green transition and massively increasing 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. The new collaboration between the two companies will radically accelerate the digitisation of shipping, uniting two sustainable shipping leaders with a shared vision to make a positive impact on the planet.