Dry CargoEuropeOperationsTech

Signal Ocean adds dry bulk coverage

The Signal Ocean Platform has a new dry bulk module to go alongside its popular tanker offering. The move follows nearly two years of development in close partnership with shipbroker Simpson Spence Young (SSY) and detailed beta testing with more than 30 shipowners and charterers.

Launched by Signal Group in 2018, the Signal Ocean Platform continuously processes and combines streams of private and public data such as AIS, tonnage lists, cargo lists, vessel positions, port costs, port line-ups and freight rates. Using advanced algorithms and artificial intelligence, data is transformed into private and actionable insights on the freight market. Users can optimally match vessels to cargoes, run profitability comparisons, make CO2 estimates, and use Signal’s patented technology to forecast vessel movements and availability across the globe.

Signal Group CEO Ioannis Martinos said: “Adapting our tanker technology to dry bulk was not straightforward. Working with the dry desk at one of the world’s leading shipbrokers, and a few select clients, helped us develop a dry bulk solution which is relevant and simple to use. We now look forward to engaging commercial teams around the world to extend and improve the product further.”

Stanko Jekov, SSY’s global head of dry cargo, commented: “Data driven insights are critical to our success and help us support our clients more effectively than ever before. Signal’s technology gives our brokers an instant and unique view of the market and has greatly enhanced our competitiveness.”

Early adopters of the dry bulk module include Starbulk and Seanergy Maritime.

Sam Chambers

Starting out with the Informa Group in 2000 in Hong Kong, Sam Chambers became editor of Maritime Asia magazine as well as East Asia Editor for the world’s oldest newspaper, Lloyd’s List. In 2005 he pursued a freelance career and wrote for a variety of titles including taking on the role of Asia Editor at Seatrade magazine and China correspondent for Supply Chain Asia. His work has also appeared in The Economist, The New York Times, The Sunday Times and The International Herald Tribune.
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