by Angela Guess
According to a recent press release, “ClearMetal, the predictive logistics company using data science and machine learning technology to unlock unprecedented efficiencies for global trade, today announced that the company was selected as the winner of the Lloyd’s List Intelligence Big Data Award. ‘ClearMetal impressed the Lloyd’s List Intelligence judging panel with their range of predictive data solutions offered to customers, including vessel capacity utilization, equipment management as well as a range of global insight tools, all of which we felt could lead to increased efficiency within the logistics chain,’ said Liz McCarthy, publisher of Llyod’s List.”
The release continues, “Established in 1734, Lloyd’s List is an iconic trade publication for the global shipping industry. The Lloyd’s List Intelligence Big Data Award recognizes the company that best demonstrated the ability to bring big data innovation to the shipping industry for improved business performance and risk management. The award recipient is chosen by entries taken from around the world and adjudicated by a distinguished judging panel. ‘It’s no surprise ClearMetal won this award and was recently featured on the cover of American Shipper,’ said John Urban, founder of GT Nexus, ‘because the value delivered by ClearMetal’s predictive logistics technology is so transformative and urgently needed by the industry’.”
It goes on, “Global trade plateaued around the beginning of 2015 and has decreased ever since, causing one of the worst shipping slumps in history. The effect is accentuated in the ocean freight industry, which carries approximately 90% of global trade. The world’s seventh largest ocean carrier Hanjin recently collapsed under the weight. The fundamental industry issue — beyond low freight rates and over-capacity — is that the ‘economies of scale’ efforts to drive efficiency over the past two decades (megaships, alliances, mergers) are nearly tapped out. Profitability improvements are urgently needed and one of the only places left to turn is advanced technology — which can create efficiency by being smarter, instead of just bigger.”
Read more at Marketwired.
Photo credit: ClearMetal