Other investors include Hamburg-based early stage venture capital investor, TecPier, and theDOCK, an Israeli venture capital firm.
The participation of these top-tier investors is striking. Global shipping faces an increasingly complex compliance framework as the sector’s regulatory backdrop continues to tighten. Furthermore, as regional regulations change at different speeds, compliance in the form of monitoring, reporting and verification is a growing headache for ship operators.
OceanScore, powered by artificial intelligence, uses proprietary engineering algorithms and advanced regression models to analyse data from a wide range of sources. Capable of monitoring the world’s fleet of around 109,000 commercial ships, the setup tracks emissions and monitors around 50 environmental, social, governance (ESG) metrics relating to vessel safety and reliability, environmental profile, and compliance with United Nations Sustainable Development Goals.
The platform will underpin decision-making across shipping’s daily operations – from ship managers to cargo owners and shippers, to investors and financiers, to marine insurers, and ports and terminals. The platform has been designed to provide a single source of verifiable data visible to all parties for tracking vessel and ship managers’ sustainability, the company said in a statement.
Co-Managing Director, Ralf Garrn, said that expanding ESG reporting requirements and new environmental regulations such as the EU Emissions Trading Scheme mean more complexity for shipowners. “Our team combines decades in shipping with deep engineering and data science competence. We bring that to bear when building solutions to support shipping in its transition to net-zero,” he declared.
His colleague, Co-Managing Director, Albrecht Grell, commented on the investors. “We are delighted with the level of investment interest in OceanScore after detailed scrutiny by these highly reputable investors,” he said. “Their investments represent a firm vindication of our potential and the quality of our data, solutions, and capabilities, while also providing a strong foundation for further growth.”
Diego Aponte, MSC Group President, said: “In addition to our massive investment in lower-carbon technologies and fuels, MSC continues to focus on improving energy efficiency. We have decided to leverage OceanScore to provide better visibility on the environmental and broader sustainability performance of ships in our fleet. We will encourage our customers, charter tonnage providers, and other stakeholders to join MSC in this initiative.”