Digital Transformation of Maritime Freight to Reach USD 205bln by 2023
New digitization solutions, such as big data, blockchain, automation, drones, and robotics, are enabling the maritime freight industry to introduce game-changing approaches that will significantly reduce or eliminate non-value-added activities. Over the next five years, maritime suppliers across the value chain will increasingly adopt solutions to address security, overcapacity and accurate cost models, according to new research from ABI Research, a market-foresight advisory firm providing strategic guidance on the most compelling transformative technologies.
Shipping Must Embrace Digital Technologies -Marine Money Panel
“To be a top performer, you must embrace technology,” said Søren Meyer, Chief Strategy Officer, Maersk Tankers, speaking at the Marine Money Week conference in New York on Tuesday.Meyer was referring to the industry-wide digitalization evolution currently underway in the tanker shipping sector, as part of a panel discussion with Frank Coles, President, Transas Group, Wartsila Voyage Solutions; and Scott G. Borgerson, Ph.D., CEO, CargoMetrics Technologies LLC.Digitalization has…
Maritime Tech Trends Digital
With digitalization technologies sweeping through maritime, Henrik Segercrantz, Maritime Reporter’s correspondent in Helsinki, explores latest developments in the quest to harness the power of 'big data.'Wärtsilä's Smart Marine EcosystemWärtsilä continues to build its leadership resume in marine and energy markets, boasting net sales of $5.7 billion last year, supported by 18,000 employees with operations in more than 80 countries. Increasingly Wärtsilä is using ‘smart’ technologies in its growing scope of products for the maritime industry…
Transas to Promote Fleet Efficiency for Wilson Ship Management
Transas said it booked an order in Q1 2018 with the Norway-based fleet operator Wilson ASA to supply a Fleet Operations Solution (FOS) including onboard navigational and communication components to provide enhanced connectivity for business communications and crew services, and access to fleet data from shore-based locations for complete situational awareness.For Transas, which was acquired by Wärtsilä in May 2018, the contract marks one of the first applications of the Thesis concept within Wärtsilä’s Smart Marine Ecosystem vision, which uses high levels of connectivity and digitalization.
With $23.5B in Waste, Maritime is 'Trending Digital'
Timely with the announcement today that Kongsberg is buying Rolls-Royce Commercial Marine, the July 2018 edition of Maritime Reporter & Engineering News, out shortly, covers in depth the digitization technologies sweeping maritime, as written by MR's Finnish correspondent Henrik Segercrantz. Earlier this year Segercrantz, based in Helsinki, met with a number of leaders in the push toward digitization, including Jörgen Strandberg, Captain, General Manager of ANC Advanced Technology…
Simulation: Maritime Professional Training
In South Florida sits MPT, one of the most prolific and progressive maritime training facilities. Already fully stocked, MPT added significant weight to its offering in 2016 with investment in 25,000 sq. ft. of new training space and technology. MPT handles more than 12,000 students a year from all segments of the maritime industry and from more than a dozen countries. With that range MPT has students from ship operators, tug companies, passenger vessels, offshore and energy exploration companies…
While much of the maritime world slumps, the cruise sector is enjoying its most vibrant growth in a generation. Carnival Corporation, in particular, is doing very well as its financial performance is stronger than ever, with 2016 delivering the best year of earnings in company history. The company’s adjusted earnings for 2016 of $2.6 billion is the best annual financial performance in its 44-year history. With that, Hans Hederstrom, Managing Director give overview of CSMART, one of the newest and richly appointed simulation centers on the planet.
SUNY Maritime to Train NYC’s Next Ferry Captains
NYC Ferry operated by Hornblower is teaming up with the oldest merchant marine academy in the country to deliver a world class training program before a majority of the new NYC Ferry vessels even arrive in New York Harbor. SUNY Maritime College was founded in 1874 as the New York Nautical School, the first school in the nation devoted to training merchant mariners. As part of this new collaboration between NYC Ferry and SUNY Maritime, future captains and crew will have access to SUNY Maritime’s top notch classroom facilities and experienced maritime faculty.
Maritime Reporter & Engineering News -- May 2017 Edition
-- Cyber Security Thought Leadership: Insight and analysis of the looming cyber security threat to maritime from 5 global leaders. -- The Norway Way: 4 in-depth features on everything maritime and energy from Norway, as the country and its companies navigate this historic energy swoon.
Disruption 'Powered by Transas'
Maritime Reporter & Engineering News caught up with Frank Coles, the ubiquitous leader of Transas, fresh from his company’s user’s conference in Malta. In typical candor, Coles paints his picture of maritime and shipping’s future. With a captive audience of more than 400 clients in scenic Malta for several days earlier this year, one might be surprised when Frank Coles admits that the meeting was not all about Transas. “I wanted something completely different. I didn’t want to talk about Transas, I wanted to talk about the industry and what we can learn from aviation.
Transas CEO Coles Speaks on the Future for Seafarers
A message from Frank Coles, CEO of Transas on the International Day of the Seafarer. On this day of recognition, I would like to celebrate the women and men who commit their careers and their lives to being at sea for extended periods of time. The future facing the maritime industry today is a very different one from when I first went to sea in 1977. Back then the sextant was King. Today the people working at sea are aided by countless new technologies and digital innovations which have had a huge impact, improving both operations and safety.
First STM Ship Systems Installed
The STM Validation project has installed the first Sea Traffic Management (STM) compatible bridge systems, connecting ships with shore based services and actors. All available functions are said to be working flawlessly, including route optimization and synchronized port calls, as well as sending and receiving route segments ship to ship. The ships equipped are Stena Germanica and two rescue units from Swedish Sea Rescue Society ( SSRS), Rescue Märta Collin and Rescue 11-00. The route message format used…
Transas CEO Honored
Transas Chief Executive Frank Coles won ‘gold’ in the Most Influential People of the Year category of the 2017 Golden Bridge Business and Innovations Awards, an award which acknowledges his ability to communicate his vision for the maritime industry in the digital age. The Golden Bridge Awards are an annual industry and peer recognition program based in San Francisco that honors the Best Companies, Products, Innovations, Management Teams, Executives and Influencers from around the globe.
Transas Survival Craft Simulator Eliminates Drill Risks
Transas has introduced a new Survival Craft Simulator (SCS) to prepare crew for the multitude of possible scenarios that can occur during lifeboat drills, aiming to address one of the most notorious sources of accidents in shipping without exposing personnel to physical danger. Effective survival craft training is essential to prepare crew for a disaster at sea but practical lifeboat drills have a troubling track record for causing fatalities. By shifting some elements of training to a simulated environment…
Transas Announces Plans for 2018 Global Conference
Transas says its mission to explain the true benefits and impacts of digitalization to the maritime world will be given new impetus by staging its 2018 global conference to Vancouver, one of North America's top technology hubs. The three-day event, which will take place at the Marriott Parq Hotel Vancouver, March 6-8, has been christened 'THESIS18 – Enterprise Change' to focus minds on the steps Transas believes are necessary if its pioneering THESIS vision for a connected maritime operational environment is to become reality.
Human Element Key to Digital Formula
In all the excitement surrounding the digitalization of shipping it is easy to overlook the human element. Failing to appreciate and understand properly how people – and by extension organizations – interface with new technology can lead to poor implementation and unnecessary exposure to risk. Technology has sometimes been described as an ecosystem. This analogy from the natural world is rather apt in a shipping environment struggling to adapt to digitalization, where at least three species are thriving.
Transas Conference to Plot Industry’s New Course
Moving from smart talk to practical solutions and learning from other industries will be the twin themes of an industry event scheduled for Vancouver in March. Technology will be an enabler, but the maritime industry will have to be prepared to change its model to be a candidate for a smarter digital future. Meeting the real enterprise challenges blocking shipping’s digital journey is the focus for the Transas Global Conference 2018, whose ‘Enterprise Change’ agenda brings together global business leaders…
Transas A-Suite brings AI to maritime to reduce human error
Transas has launched its first package of applications built on THESIS, a unified cloud-based platform for managing operations across the full breadth of the maritime ecosystem. The advanced ‘A-Suite’ package also sets a new precedent by utilizing the latest in machine learning techniques to reduce the potential for human errors on the bridge or poor decisions elsewhere in the vessel operational chain. In addition to the officers and crew working on board ships, the benefits of…
Frank Coles Delivers Keynote at the Transas Global Conference
You know if Elon Musk was to attend a plenary session of the IMO, he could be forgiven if he thought he was watching a reenactment of the Charles Dickens book Hard Times, with Mr. Gradgrind the Headmaster. What a sad reflection of our industry. Imagine instead! Imagine a world where logistics companies and cargo owners drive ship design, innovation and demand the level of quality in ship management. Where maritime assets are operated in a global ecosystem of tracking, monitoring and safety. Imagine a world where ships are operated in a “ship as a service” or “system of systems” infrastructure.
Shipping Needs an Attitude Adjustment -Transas Chief
Speaking last week at the 2018 Transas Global Conference in Vancouver, Transas CEO Frank Coles laid out his vision for the maritime industry’s future – from safer, greener and more efficient ships to a world without freight forwarders. As has come to be expected from the Transas CEO, Coles did not hesitate to offer a healthy dose of constructive criticism – particularly in the direction of those he sees as a hindrance to industry-wide progress, be it ship owners and operators, freight forwarders or regulators.
Wärtsilä acquires Transas
Wärtsilä announced today that it has acquired Transas, an innovative, digital solutions provider headquartered in the UK. This acquisition is a recognition of Transas’ strong position in the maritime technologies market and its technological leadership. The transaction will allow Transas to work within a global maritime company in delivering its solutions, bringing scale and value to the industry in need of innovation leadership. Transas is a global market leader in marine navigation solutions that include complete bridge systems, digital solutions and electronic charts.
Wartsila Misses Earnings Expectations; Eyes Rolls-Royce
Finnish ship technology and power plant maker Wartsila missed first-quarter earnings expectations on Tuesday and said geopolitical uncertainty was slowing demand in the marine market. In a phone interview following the quarterly report, Chief Executive Jaakko Eskola said Wartsila aimed to grow through acquisitions and that it continued to look at Rolls-Royce's marine business, which the British company is reviewing for a possible sale. Wartsila said the marine sector, which has been hit by overcapacity and lack of financing, was recovering, but not at the pace the company had anticipated.
Wärtsilä’s Acquisition of Transas is Completed
The technology group Wärtsilä announces that its acquisition of Transas, a global company headquartered in the U.K., has now been finalized. Control of the company will be transferred to Wärtsilä effective from 4 May, 2018. The acquisition, which was announced in March 2018, has a transaction value of MEUR 210 (enterprise value). Transas is a global market leader in marine navigation solutions that include complete bridge systems, digital products and electronic charts. It is also a leader in professional training and simulation services, as well as ship traffic control systems.