The collaboration specifically allows Baltic Exchange members and customers to access Baltic Exchange’s market information in ZeroNorth’s Optimise software platform, powering greater operational decision-making.
Optimise will now be able to display global market rates for dry bulk ships and tankers provided by the Baltic Exchange, including a range of both time charter equivalent (TCE) rates and time charter average information across tramp shipping’s biggest trades.
The announcement puts the industry’s market data right at the centre of ZeroNorth’s technology platform. Optimise interprets this information to make its recommendations on speed, route and when, where and what to bunker. The software provides a clear indication of the upsides of any decision in both dollars and CO2.
The data integration — which will occur through a secure API — lowers the barrier to entry for new users of the Optimise platform, improving the onboarding process and combining a range of disparate data sources into one easy to use information hub.
Søren Meyer, CEO, ZeroNorth, said: “We’re very pleased to be able to unveil our latest partnership with the Baltic Exchange. The Exchange’s renowned and industry-leading market rate information is a trusted source for many of our customers, so it is a natural evolution to be able to view and use this data within Optimise.
“This announcement further strengthens our platform as a hub for all the data an owner or operator needs to optimise operations, improving their revenue and cutting emissions. We are also very proud to use the Baltic Exchange’s API, which once again shows the power and importance of data partnerships in our industry.”
Mark Jackson, chief executive, the Baltic Exchange, said: “This is a partnership which is designed to add value to our members and data customers. For those who are already using the ZeroNorth platform, this brings their data needs under one roof. Our benchmark information is regulated by the UK financial authorities and is relied upon by the shipping industry to settle trades and underpin contracts.”
ZeroNorth will continue to work with the Baltic Exchange to deepen their partnership, including exploring more ways to use Baltic Exchange data to power an increase in earnings and reduction of emissions for tramp shipping.