Shipping technology company ZeroNorth and shipping data provider Baltic Exchange have announced a new partnership that makes comprehensive information on Baltic Exchange market rates available in Optimize.
The collaboration specifically enables Baltic Exchange members and clients to access Baltic Exchange market information in ZeroNorth’s Optimize software platform, fueling better operational decision-making.
Optimize will now be able to display global market rates for bulk carriers and tankers supplied by the Baltic Exchange, including a range of Equivalent Time Charter (TCE) rates and average time charter information for the biggest tramp traffic.
The announcement puts industry market data at the center of ZeroNorth’s technology platform. Optimize interprets this information to make recommendations on speed, route, and when, where and what to bunk. The software provides a clear indication of the benefits of any dollar and CO2 decision.
Data integration, which will be done through a secure API, lowers the barrier to entry for new users of the Optimize platform, improves the onboarding process and combines a range of disparate data sources into one easy to use information center.
SÃ¸ren Meyer, CEO of ZeroNorth, said: âWe are very happy to be able to unveil our latest partnership with the Baltic Exchange. The renowned and industry-leading exchange rate information is a source of trust for many of our clients. It is therefore a natural evolution to be able to display and use this data in Optimize.
âThis announcement further strengthens our platform as a hub for all the data an owner or operator needs to optimize operations, improve revenues and reduce emissions. We are also very proud to use the Baltic Exchange API, which once again demonstrates the power and importance of data partnerships in our industry.
Mark Jackson, Managing Director of Baltic Exchange, said, âThis is a partnership designed to add value to our members and data customers. For those already using the ZeroNorth platform, this brings their data needs together under one roof. Our reference information is regulated by the UK financial authorities and is used by the shipping industry to settle transactions and underpin contracts.
ZeroNorth will continue to work with the Baltic Exchange to deepen its partnership, including exploring other ways to use data from the Baltic Exchange to increase revenue and reduce emissions for tramp shipping.