Western Bulk has signed up with Norwegian online market intelligence start-up Oceanbolt to gather greater market insight and knowledge across its chartering, operations, and analytics teams.
Oceanbolt provides real-time insights into trade flows, tonnage flow, fleet speed, dry-docking and congestion. The insights available in the platform are based on analysing AIS data in real-time, and utilising geospatial analytics algorithms in combination with a comprehensive polygon database.
Western Bulk stated in a press release that Oceanbolt's primary focus on minor dry bulk, cloud based systems with open APIs and combined with a shared desire to extract the full value of data in the shipping industry, made the start-up a natural partner selection for the shipping company.
Oceanbolt published the following statement on the partnership:
"We are very excited to announce that Western Bulk, a leading global dry bulk operator, has joined the Oceanbolt Data Platform to leverage our real-time insights into the dry bulk market. Western Bulk joins our platform as a data partner and will provide valuable domain expertise and data which will allow us to train and further improve the accuracy of our historical and predictive algorithms.
“With Western Bulk’s focus on business intelligence, cloud infrastructure and open APIs, we are proud to become partners with a front-runner in data-driven shipping operations. Western Bulk will leverage Oceanbolt’s Data API and web-based Analytics Dashboard to further strengthen the analytical efforts of their in-house data scientists and analysts and to aid the commercial and operational understanding of the chartering and operations teams.”
The partnership commenced on May 1, 2020 and marks a milestone for Oceanbolt in its quest for participating to create a digital and data-driven shipping industry.